Macroeconomics Chapter 6 example #47195

Which of the following is true of the business cycle record of the United States? a. Recessions have been lengthier during the last two decades than was true prior to 1980. b. Real GDP contracted throughout most of the 1950s. c. Real GDP in 2000 was approximately the same as 1950. d. Since 1950, the fluctuations in GDP have been less severe than before 1950.

A business cycle is the:

The period during which real output falls during a business cycle is called:

As a general rule, a recession occurs when there is a six consecutive month fall in:

Since World War II, the average length of recessions in the United States has been:

What stage of the business cycle immediately follows the trough?

Since 1929, real GDP in the United States has grown at an average annual rate of about:

The government's chief forecasting gauge for business cycles is the:

Suppose the index of leading economic indicators begins to decline for several months. Which of the following economic events will likely follow?

Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called:

Which of the following groups of people are members of the labor force?

The civilian labor force consists of:

Retired persons are officially classified as:

Find the size of the civilian labor force from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000.

Mallory Trammell is a homemaker. Last week, she was busy with her normal household chores. She is:

Ryan Black does not work and has not looked for work because of a disability. He is:

Which one of the following people is not a member of the labor force?

Which one of the following people would not be considered a part of the labor force?

The civilian labor force consists of all the:

Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the civilian labor force is:

Consider an economy made up of 100 people, 60 of whom old jobs, 10 of whom are looking for work, and 15 of whom are retired. The number counted as unemployed is:

The unemployment rate equals the number of persons:

In a dynamic economy under ideal conditions:

An individual who is employed part time, but is looking for a full-time job, is classified as:

Which of the following groups of people are counted as employed? a. People who work at least one hour a week. b. People who work at least 15 hours a week as unpaid employees of a family business. c. People who are out of work due to bad weather. d. All of these are counted as employed.

The unemployment rate measures the percentage of:

Find the BLS's rate of unemployment from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000.

A person who has given up searching for work is called:

The number of people officially unemployed is not the same as the number of people who can't find a job because:

The presence of discouraged workers may cause:

The primary cause of frictional unemployment is:

Unemployment that is of a short duration to allow time to find a new job is:

A person who voluntarily quits his/her job in New York and expects to get a similar job in Los Angeles is an example of:

Frictional unemployment refers to:

A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings results in:

When people become unemployed because of a higher minimum wage, this type of unemployment is called:

An example of structural unemployment is a(n):

Consider a broom factory that permanently closes because of foreign competition. If the broom factory's workers cannot find new jobs because their skills are no longer marketable, then they are classified as:

Cyclical unemployment is primarily caused by:

It is difficult for cyclically unemployed individuals to find jobs because:

When full employment is present in the United States:

Full employment is the rate of employment that results when:

Full employment means which of the following is zero?

The combination of frictional and structural unemployment is the:

Which of the following statements is true?

Actual GDP will be below potential GDP:

Which of the following is true?

The GDP gap is the difference between:

Which of the following is true? a. The GDP gap is the difference between actual real GDP and full-employment real GDP. b. We desire economic growth because it increases the nation's standard of living. c. Economic growth is measured by the annual percentage increase in a nation's real GDP. d. Discouraged workers are a reason critics say the unemployment rate is understated. e. All of these are true.

Of the four groups listed below, the highest unemployment rate is typically experienced by: