review2=multiple-choice

review2=multiple-choice - REVIEW FOR FALL 2006 EXAM 2 1....

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
REVIEW FOR FALL 2006 EXAM 2 1. Who is considered unemployed? a. a discouraged worker b. a college graduate working part time c. a person seeking residential treatment in a mental institution d. none of the above 2. At the natural rate of unemployment, there is no ___________ unemployment. a. cyclical b. frictional c. structural d. no cyclical or frictional or structural 3. An unemployed person, in spite of few job offers, is still searching for a job that best fits his/her skills is an example of __________ unemployment. a. cyclical b. frictional c. structural d. none of the above 4. Short run in the context of aggregate supply is a period when a. Wages and resource prices remain fixed. b. Wages, resource prices and prices of final goods remain fixed. c. prices of final goods remain fixed, but wages and resource prices change. d. profits of suppliers remain fixed. 5. The natural rate of unemployment is equal to a. frictional unemployment. b. Structural unemployment. c. Cyclical unemployment. d. Frictional unemployment + structural unemployment 6. Business cycle is a. the cyclical fluctuations in economic activities. b. a consecutive two quarters decline of real GDP. c. a consecutive two quarters increase of CPI. d. the fluctuations in net exports. 7. Between 1992 and 1993, the consumer price index rose from 250 to 275. What was the inflation rate in this period? a. 10% b. 11% c. 110% d. 111% 8. Which correctly defines recession? a. increase in unemployment rate b. decrease in general price level c. a decline in real GDP d. at least two consecutive quarter decline of real GDP
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Table 1: Employment data for the United States for December 2002 Civilian Non-Institutional Population (16 years of age and over): 214,968,000 Employed: 133,952,000 Unemployed: 8,590,000 9. Use Table 1. What was the size of labor force in U.S. in December 2002?
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/07/2011 for the course ECON 3461 taught by Professor Spencer during the Spring '10 term at Golden West College.

Page1 / 4

review2=multiple-choice - REVIEW FOR FALL 2006 EXAM 2 1....

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online