chp 5 test

# chp 5 test - 1 Chapter 1 1.1(1 pts Suppose the market...

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1. Chapter 1 # 1.1 (1 pts.) Suppose the market basket consists of 10X, 20Y, and 30Z. Current-year prices are \$1.00 for each unit of X, \$0.96 for each unit of Y, and \$1.13 for each unit of Z. Base-year prices are \$1.00 for each unit of X, Y, and Z. What is the approximate CPI in the current year?

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# 1.2 (1 pts.) Exhibit 5-1 &nbsp; Year 1980 1981 1982 1983 1984 Refer to Exhibit 5-1. Prices rose by ____ percent from 1981 to 1983. 12.5 9.9 12.6 14.2 none of the above # 1.3 (1 pts.) Persons who are retired or engaged in own- home housework are considered to be in which of the following categories?
# 1.4 (1 pts.) If a person is waiting to be called back to a job from which she has been laid off, how is she classified? # 1.5 (1 pts.) In order to be classified as unemployed, a person must # 1.6 (1 pts.) The employment rate equals the number of

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# 1.7 (1 pts.) Suppose the civilian non-institutional population equals 150,000; there are 72,500 employed persons and 10,000 unemployed persons. How many people are not in the labor force? # 1.8 (1 pts.) Exhibit 5-2 &nbsp; &nbsp; Year 1 2 3 4 Refer to Exhibit 5-2. How many unemployed persons are there in year 1?
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