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EXAM 1_sample

# EXAM 1_sample - 1 If frictional unemployment=2 structural...

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1. If frictional unemployment=2%, structural unemployment=2%, seasonal unemployment=1%, and cyclical unemployment=4% what is the natural rate of unemployment? a. 4% b. 5% c. 9% d. 6% 2. Refer to Figure 7-2. The economy's potential level of output on the graph 3. The four main categories of resources are 4. Suppose that Nadira's nominal wage rate was \$20 per hour in 2005, the base year for the CPI. If the CPI in 2008 was 120.0 and her nominal wage had risen to \$22 per hour, what was her real wage in 2008? 5. Suppose the nominal interest rate charged is 5 percent and the expected inflation rate is 2 percent. Which of the following is the expected real interest rate? a. 2 percent

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b. 5 percent c. 7 percent d. -3 percent e. 3 percent
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EXAM 1_sample - 1 If frictional unemployment=2 structural...

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