Unemployment and Its Natural Rate
|
|
|
- Lydia Farmer
- 5 years ago
- Views:
Transcription
1 Chapter 26 Unemployment and Its Natural Rate Test A 1. The natural rate of unemployment is a. zero percent. b. the rate associated with the highest possible level of GDP. c. created primarily by short-run fluctuations in real GDP. d. the amount of unemployment that the economy normally experiences. ANSWER: d. the amount of unemployment that the economy normally experiences. TYPE: M KEY1: D SECTION: INT OBJECTIVE: 1 RANDOM: Y 2. Unemployment data is collected a. from firms and unemployment insurance claims. b. through a regular survey of about 60,000 households. c. from payroll data received for tax purposes. d. None of the above is correct. ANSWER: b. through a regular survey of about 60,000 households. 3. Which of the following people is counted as unemployed according to official statistics? a. Nancy, who is on temporary layoff b. Gary, who has retired and is not looking for work c. Brian, a full-time student who is not looking for work d. All of the above are correct. ANSWER: a. Nancy, who is on temporary layoff 4. Who would be included in the labor force? a. Holly, an unpaid homemaker b. Dave, who does not have a job, but is looking for work c. Bruce, a full-time student not looking for work d. None of the above are included in the labor force. ANSWER: b. Dave, who does not have a job, but is looking for work 291
2 292 Chapter 26/Unemployment and Its Natural Rate 5. The BLS recently reported that there were million college graduates over age 16. Of this number million were in the labor force and were employed. What was the labor-force participation rate and the unemployment rate for this group? a. about 78 percent and 1.3 percent b. about 79.5 percent and 1.7 percent c. about 92 percent and 1.3 percent d. about 98 percent and 1.7 percent ANSWER: b. about 79.5 percent and 1.7 percent. TYPE: M KEY1: E SECTION: 1 OBJECTIVE: 1 RANDOM: Y 6. Kay loses her job and decides to sit around home for a few months. Ceteris paribus, the unemployment rate a. increases, and the labor-force participation rate decreases. b. increases, and the labor-force participation rate is unaffected. c. increases, and the labor-force participation rate increases. d. is unaffected, and the labor-force participation rate increases. ANSWER: a. increases, and the labor-force participation rate decreases. TYPE: M KEY1: C SECTION: 1 OBJECTIVE: 1 RANDOM: Y 7. Which of the following is correct? a. Teenagers have lower labor-force participation rates and lower unemployment rates than do adults. b. Teenagers have lower labor-force participation rates and higher unemployment rates than do adults. c. Teenagers have higher labor-force participation rates and higher unemployment rates than do adults. d. Teenagers have higher labor-force participation rates and lower unemployment rates than do adults. ANSWER: b. Teenagers have lower labor-force participation rates and higher unemployment rates than do adults.
3 Chapter 26/Unemployment and Its Natural Rate Just after World War II, the labor-force participation rate of women was a. about 3/5 and currently is 1/2. b. about 1/2 and currently is about 3/5. c. about 1/3 and currently is about 3/5. d. about 1/4 and currently is about 2/3. ANSWER: c. about 1/3 and currently is about 3/5. TYPE: M DIFFICULTY: 3 KEY1: D SECTION: 1 OBJECTIVE: 1 RANDOM: Y 9. Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, a. both the unemployment rate and labor-force participation rate would be higher. b. the unemployment rate would be higher and the labor-force participation rate would be unchanged. c. the unemployment rate would be lower and the labor-force participation rate would be unchanged. d. both the unemployment rate and labor-force participation rate would be lower. ANSWER: c. the unemployment rate would be lower and the labor-force participation rate would be unchanged. 10. Christine is looking for work as a financial analyst. Although her prospects are good, she hasn t yet taken a job. Pam is looking for work in a furniture factory, but there aren t many furniture companies looking for workers and every time she shows up for an interview, there are many more people than openings. a. Christine is frictionally unemployed and Pam is structurally unemployed. b. Christine is structurally unemployed and Pam is frictionally unemployed. c. Christine and Pam are both frictionally unemployed. d. Christine and Pam are both structurally unemployed. ANSWER: a. Christine is frictionally unemployed and Pam is structurally unemployed. TYPE: M KEY1: C SECTION: 1 OBJECTIVE: 1 RANDOM: Y 11. People who are unemployed because of job search are best classified as a. cyclically unemployed. b. discouraged workers. c. frictionally unemployed. d. structurally unemployed. ANSWER: c. frictionally unemployed.
4 294 Chapter 26/Unemployment and Its Natural Rate 12. Sectoral shifts in the economy a. create structural unemployment. b. immediately reduce unemployment. c. on net leave unemployment unchanged. d. increase unemployment due to job search. ANSWER: d. increase unemployment due to job search. 13. Unemployment insurance a. reduces job search unemployment. b. decreases the natural rate of unemployment. c. increases frictional unemployment. d. All of the above are correct. ANSWER: c. increases frictional unemployment. 14. A typical American worker covered by unemployment insurance receives a. 100 percent of their former wages for 26 weeks. b. 75 percent of their former wages for 50 weeks. c. 50 percent of their former wages for 26 weeks. d. 25 percent of their former wages for 50 weeks. ANSWER: c. 50 percent of their former wages for 26 weeks. 15. An increase in the world price of oil creates a sectoral shift that probably a. decreases unemployment, and the decrease would be greater in a country with unemployment insurance than in one without. b. decreases unemployment, but the decrease would be smaller in a country with unemployment insurance than in one without. c. increases unemployment, and the increase would be greater in a country with unemployment insurance than in one without. d. increases unemployment, but the increase would be smaller in a country with unemployment insurance than in one without. ANSWER: c. increases unemployment, and the increase would be greater in a country with unemployment insurance than in one without.
5 Chapter 26/Unemployment and Its Natural Rate Minimum wage laws a. probably reduce teenage employment. b. are probably the major cause of natural unemployment. c. probably most adversely affect skilled workers. d. All of the above are correct. ANSWER: a. probably reduce teenage employment. TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 3 RANDOM: Y 17. Between the 1940s and today, union membership a. fell from about 1/2 to 1/3 of the labor force. b. fell from about 1/3 to 1/6 of the labor force. c. rose from about 1/6 to 1/3 of the labor force. d. rose from about 1/3 to 1/2 of the labor force. ANSWER: b. fell from about 1/3 to 1/6 of the labor force. 18. When a union bargains successfully with an employer, a. the quantity of labor supplied increases but the quantity of labor demanded decreases. b. the quantity of labor supplied increases but the quantity of labor demanded increases. c. both the quantity of labor supplied and the quantity of labor demanded increase. d. both the quantity of labor supplied and the quantity of labor demanded decrease. ANSWER: a. the quantity of labor supplied increases but the quantity of labor demanded decreases. 19. When unions raise wages in one sector of the economy, the supply of labor in other sectors of the economy a. decreases, raising wages in industries that are not unionized. b. decreases, reducing wages in industries that are not unionized. c. increases, raising wages in industries that are not unionized. d. increases, reducing wages in industries that are not unionized. ANSWER: d. increases, reducing wages in industries that are not unionized. TYPE: M DIFFICULTY: 3 KEY1: D SECTION: 4 OBJECTIVE: 4 RANDOM: Y
6 296 Chapter 26/Unemployment and Its Natural Rate 20. Right-to-work laws a. prevent employers from hiring permanent replacements for workers who are on strike. b. allows employers to replace workers who are on strike. c. guarantee workers the right to form unions. d. give workers in a unionized firm the right to choose whether or not to join the union. ANSWER: d. give workers in a unionized firm the right to choose whether to join the union. 21. Angela is the newly appointed CEO of a company that manufactures computer chips on an assembly line. Her staff has told her that given productivity numbers, they suspect some workers may be shirking. According to efficiency wage theory, what should she do? a. Pay all workers more than the equilibrium wage rate. b. Reward those who shirk with higher wages. c. Pay below the equilibrium wage rate to make up for the loss from shirking. d. Make sure that workers are getting paid exactly the equilibrium wage rate. ANSWER: a. Pay all workers more than the equilibrium wage rate. TYPE: M KEY1: C SECTION: 4 OBJECTIVE: 4 RANDOM: Y 22. Efficiency wages reduce a. the average quality of job applicants. b. labor-force participation rates. c. the natural rate of unemployment. d. the incentive to shirk. ANSWER: d. the incentive to shirk. TYPE: M KEY1: D SECTION: 5 OBJECTIVE: 5 RANDOM: Y 23. An efficient wage designed to ensure that quality workers are hired is designed principally to reduce a problem created by a. adverse selection, but it also increases unemployment. b. adverse selection, but it also decreases unemployment. c. moral hazard, but it also increases unemployment. d. moral hazard, but it also decreases unemployment. ANSWER: a. adverse selection, but it also increases unemployment. TYPE: M KEY1: C SECTION: 5 OBJECTIVE: 5 RANDOM: Y
7 Chapter 26/Unemployment and Its Natural Rate Which of the following explanations of the natural rate of unemployment is most important for the U.S. economy? a. job search b. minimum wage laws c. unions d. Economists have not determined the answer to this question. ANSWER: d. Economists have not determined the answer to this question. TYPE: M KEY1: D SECTION: 6 OBJECTIVE: 4 RANDOM: Y 25. Henry Ford paid his workers $5.00 per day to a. meet union demands. b. prevent his workers from unionizing. c. protest minimum wage laws. d. increase worker productivity. ANSWER: d. increase worker productivity. TYPE: M KEY1: D SECTION: 6 OBJECTIVE: 4 RANDOM: Y 1 ANSWER: d. the amount of unemployment that the economy normally experiences. TYPE: M KEY1: D SECTION: INT OBJECTIVE: 1 RANDOM: Y 2 ANSWER: b. through a regular survey of about 60,000 households. 3 ANSWER: a. Nancy, who is on temporary layoff 4 ANSWER: b. Dave, who does not have a job, but is looking for work 5 ANSWER: b. about 79.5 percent and 1.7 percent. TYPE: M KEY1: E SECTION: 1 OBJECTIVE: 1 RANDOM: Y
8 298 Chapter 26/Unemployment and Its Natural Rate 6 ANSWER: a. increases, and the labor-force participation rate decreases. TYPE: M KEY1: C SECTION: 1 OBJECTIVE: 1 RANDOM: Y 7 ANSWER: b. Teenagers have lower labor-force participation rates and higher unemployment rates than do adults. 8 ANSWER: c. about 1/3 and currently is about 3/5. TYPE: M DIFFICULTY: 3 KEY1: D SECTION: 1 OBJECTIVE: 1 RANDOM: Y 9 ANSWER: c. the unemployment rate would be lower and the labor-force participation rate would be unchanged. 10 ANSWER: a. Christine is frictionally unemployed and Pam is structurally unemployed. TYPE: M KEY1: C SECTION: 1 OBJECTIVE: 1 RANDOM: Y 11 ANSWER: c. frictionally unemployed. 12 ANSWER: d. increase unemployment due to job search. 13 ANSWER: c. increases frictional unemployment. 14 ANSWER: c. 50 percent of their former wages for 26 weeks.
9 Chapter 26/Unemployment and Its Natural Rate ANSWER: c. increases unemployment, and the increase would be greater in a country with unemployment insurance than in one without. 16 ANSWER: a. probably reduce teenage employment. TYPE: M KEY1: D SECTION: 3 OBJECTIVE: 3 RANDOM: Y 17 ANSWER: b. fell from about 1/3 to 1/6 of the labor force. 18 ANSWER: a. the quantity of labor supplied increases but the quantity of labor demanded decreases. 19 ANSWER: d. increases, reducing wages in industries that are not unionized. TYPE: M DIFFICULTY: 3 KEY1: D SECTION: 4 OBJECTIVE: 4 RANDOM: Y 20 ANSWER: d. give workers in a unionized firm the right to choose whether to join the union. 21 ANSWER: a. Pay all workers more than the equilibrium wage rate. TYPE: M KEY1: C SECTION: 4 OBJECTIVE: 4 RANDOM: Y 22 ANSWER: d. the incentive to shirk. TYPE: M KEY1: D SECTION: 5 OBJECTIVE: 5 RANDOM: Y 23 ANSWER: a. adverse selection, but it also increases unemployment. TYPE: M KEY1: C SECTION: 5 OBJECTIVE: 5 RANDOM: Y
10 300 Chapter 26/Unemployment and Its Natural Rate 24 ANSWER: d. Economists have not determined the answer to this question. TYPE: M KEY1: D SECTION: 6 OBJECTIVE: 4 RANDOM: Y 25 ANSWER: d. increase worker productivity. TYPE: M KEY1: D SECTION: 6 OBJECTIVE: 4 RANDOM: Y
I. MULTIPLE CHOICES. Choose the one alternative that best completes the statement to answer the question.
Econ 20B- Additional Problem Set 6 I. MULTIPLE CHOICES. Choose the one alternative that best completes the statement to answer the question. 1. The sum of which of the following would necessarily be equal
Unemployment CHAPTER. Goals. Outcomes
CHAPTER 28 Unemployment Goals in this chapter you will Learn about the data used to measure the amount of unemployment Consider how unemployment arises from the process of job search Consider how unemployment
3. The phase of the business cycle in which real GDP is at a minimum is called: A. the peak. B. a recession. C. the trough. D. the underside.
1. Most economists agree that the immediate determinant of the volume of output and employment is the: A. composition of consumer spending. B. ratio of public goods to private goods production. C. level
EMPLOYMENT, UNEMPLOYMENT, AND WAGES Macroeconomics in Context (Goodwin et al.), 3 rd edition
Chapter 8 EMPLOYMENT, UNEMPLOYMENT, AND WAGES Macroeconomics in Context (Goodwin et al.), 3 rd edition Chapter Overview This chapter introduces you to standard macro labor topics such the definition of
15 Unemployment CHAPTER 15 UNEMPLOYMENT 0
15 Unemployment CHAPTER 15 UNEMPLOYMENT 0 In this chapter, look for the answers to these questions: How is unemployment measured? What is the natural rate of unemployment? Why are there always some people
ECON 101 Exam 2 Fall 2015
Class: Date: ECON 101 Exam 2 Fall 2015 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Ch.12. An economy s production function has the constant-returns-to-scale
Exam 2 / 2014 Fall. Name: Class: Date: Multiple Choice Identify the choice that best completes the statement or answers the question.
Class: Date: Exam 2 / 2014 Fall Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Ch.10. In the economy of Ukzten in 2010, consumption was $2000, exports
MACROECONOMICS - CLUTCH CH UNEMPLOYMENT AND INFLATION.
!! www.clutchprep.com CONCEPT: LABOR FORCE AND UNEMPLOYMENT Tracking levels of employment within an economy gives meaningful data regarding the nation s productivity Labor Force the total number of workers,
SSEMA1 Unemployment, Inflation, CPI Notes
SSEMA1 Unemployment, Inflation, CPI Notes SSEMA1: The student will illustrate the means by which economic activity is measured. a. Define GDP, economic growth, unemployment, CPI, inflation, stagflation,
Unemployment. Macroeconomics CHAPTER. N. Gregory Mankiw. Principles of. Seventh Edition. Wojciech Gerson ( )
Seventh Edition Principles of Macroeconomics N. Gregory Mankiw Wojciech Gerson (1831-1901) CHAPTER 15 Unemployment In this chapter, look for the answers to these questions How is unemployment measured?
Economics. Unemployment. N. Gregory Mankiw. Premium PowerPoint Slides by Ron Cronovich, Updated by Vance Ginn C H A P T E R P R I N C I P L E S O F
C H A P T E R 28 Unemployment Economics P R I N C I P L E S O F N. Gregory Mankiw Premium PowerPoint Slides by Ron Cronovich, Updated by Vance Ginn 2009 South-Western, a part of Cengage Learning, all rights
I did not use any unauthorized aid on this exam. Name: (PRINT) UM ID #: Signature:
Econ 102 Lecture 100 Exam I Form 0 ECON 102/100 February 17, 2004 Section Day Time Location GSI 101 F 2:30-4 B239 EH Jan 102 W 11:30-1 373 Lorch Justin 103 W 1-2:30 B239 EH Naomi 104 W 4-5:30 B239 EH Mato
3. Investment in human capital shifts the aggregate production function: A) leftward. B) upward. C) rightward. D) downward.
Econ 102 Exam 1 Name ID Section Number 1. Which of the following equations describes the calculation of the natural unemployment rate? A) Natural unemployment = frictional unemployment + cyclical unemployment.
Unemployment and its natural rate. Chapter 27
1 Unemployment and its natural rate Chapter 27 What we learn in this chapter? This is the last chapter of Part IX: the real economy in the long run In Chapter 24 we established the link between production,
Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 13:00 Section 03 TYPE C
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 13:00 Section 03 TYPE C Do not forget to write your full name,
Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 13:00 Section 03 TYPE B
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 13:00 Section 03 TYPE B Do not forget to write your full name,
Chapter 9: Unemployment and Inflation
Chapter 9: Unemployment and Inflation Yulei Luo SEF of HKU January 28, 2013 Learning Objectives 1. Measuring the Unemployment Rate, the Labor Force Participation Rate, and the Employment Population Ratio.
Bell Ringer. How do we know if the economy is healthy?
Bell Ringer How do we know if the economy is healthy? Objectives 1. Explain what gross domestic product (GDP) is and what it measures. 2. Compare the GDP of the United States with other countries. Gross
MACROECONOMICS REVIEW FOR EXAM #1. 1. Real GDP is better than nominal GDP in making comparisons of GDP over time because:
MACROECONOMICS REVIEW FOR EXAM #1 1. Real GDP is better than nominal GDP in making comparisons of GDP over time because: A. Nominal GDP can increase simply because of price increases over time. B. Real
Introduction to Macroeconomics
Robert M. Kunst robert.kunst@univie.ac.at University of Vienna and Institute for Advanced Studies Vienna May 4, 2012 Outline Introduction National accounts The goods market The financial market The IS-LM
ECONOMY IN THE LONG RUN. Chapter 6. Unemployment. October 23, Chapter 6: Unemployment. ECON204 (A01). Fall 2012
ECONOMY IN THE LONG RUN Chapter 6 Unemployment October 23, 2012 1 Topics in this Chapter Focus on the Long run unemployment rate Natural Rate of Unemployment contrast with cyclical behaviour of unemployment
Example: Any local businesses that might have opened in recent months (a new restaurant) or maybe closed. This is happening all over the country.
1 2 It is important to recognize that economic expansions aren t always periods of falling unemployment. The unemployment rate may continue to rise for more than a year + after the recession was officially
Inflation. Chapter Summary and Learning Objectives
CHAPTER 9 Unemployment and Inflation Chapter Summary and Learning Objectives 9.1 Measuring the Unemployment Rate, the Labor Force Participation Rate, and the Employment-Population Ratio (pages 268 277)
ECON 1002 B. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 1 hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
THE EMPLOYMENT SITUATION: SEPTEMBER 2000
Internet address: http://stats.bls.gov/newsrels.htm Technical information: USDL 00-284 Household data: (202) 691-6378 Transmission of material in this release is Establishment data: 691-6555 embargoed
Unemployment and the Labor Market
CHAPTER 7 Unemployment and the Labor Market Modified for ECON 2204 by Bob Murphy 2016 Worth Publishers, all rights reserved IN THIS CHAPTER, YOU WILL LEARN: about the natural rate of unemployment: what
ECON 201. The Business Cycle. Business Cycle 4 phases 10/1/2009. Chapter 6 Business Cycles, Unemployment, & Inflation
ECON 201 Chapter 6 Business Cycles, Unemployment, & Inflation The Business Cycle The U.S. has experienced economic instability associated with business cycles. Business Cycles alternating rises and declines
Unemployment: Jones Chapter 7
Unemployment: Jones Chapter 7 Alan G. Isaac American University June 4, 2010 It s a recession when your neighbor loses his job; it s a depression when you lose yours. Harry Truman, as quoted in Jones (2008)
Chapter 6 : Unemployment
Chapter 6 : : 4.6% in August 2007 slide 0 A model of unemployment Focus on natural rate of unemployment Notation: L = # of workers in labor force E = # of employed workers U = # of unemployed U/L = unemployment
ECON 101 Exam 2, Spring 2016
Class: Date: ECON 101 Exam 2, Spring 2016 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Ch. 10. When an American household purchases a bottle of Italian
Economics. Unemployment. Labor Force Statistics. In this chapter, look for the answers to these questions: N. Gregory Mankiw
C H A P T E R 28 Unemployment P R I N C I P L E S O F Economics N. Gregory Mankiw Premium PowerPoint Slides by Ron Cronovich 2009 South-Western, a part of Cengage Learning, all rights reserved In this
MACROECONOMICS. Semester 2, 2016 ECF1200
MACROECONOMICS Semester 2, 2016 ECF1200 Week 4: Chapter 8 - Saving, investment and the financial system The financial system Groups of institutions that help to match one person s saving with another
PAGE ONE Economics. Scott A. Wolla, Ph.D., Senior Economic Education Specialist. William Henry Beveridge, Causes and Cures of Unemployment
Making Sense of Unemployment Data Scott A. Wolla, Ph.D., Senior Economic Education Specialist GLOSSARY Cyclical unemployment: Unemployment associated with recessions in the business cycle. Discouraged
Labor Force Statistics. Unemployment. In this chapter, look for the answers to these questions:
15 Unemployment P R I N C I P L E S O F MACROECONOMICS FOURTH EDITION N. GREGORY MANKIW Premium PowerPoint Slides by Ron Cronovich 2008 update 2008 South-Western, a part of Cengage Learning, all rights
Principles of Macroeconomics. Twelfth Edition. Chapter 13. The Labor Market in the Macroeconomy. Copyright 2017 Pearson Education, Inc.
Principles of Macroeconomics Twelfth Edition Chapter 13 The Labor Market in the Macroeconomy Copyright 2017 Pearson Education, Inc. 13-1 Copyright Copyright 2017 Pearson Education, Inc. 13-2 Chapter Outline
Employment and Unemployment
Employment and Unemployment What kind of job market will you enter when you graduate? The class of 2014 had a tough time: In July 2014, 10 million Americans wanted a job but couldn t find one and 8 more
How the Government Measures Unemployment
What Does the Unemployment Rate Tell Us About an Economy s Health? (EA) At any one time, millions of Americans may be out of work. For many of them, the experience is devastating. They struggle to pay
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2014 Prof. Bill Even FORM 3. Directions
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2014 Prof. Bill Even FORM 3 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE B
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE B Do not forget to write your full name,
Economics 102 Spring 2018 Homework #3 Due 3/15/2018
Economics 102 Spring 2018 Homework #3 Due 3/15/2018 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly).
Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE C
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE C Do not forget to write your full name,
Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE A
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE A Do not forget to write your full name,
ECON 1010 Principles of Macroeconomics. Midterm Exam #2. Professor: David Aadland. Spring Semester April 2 nd, 2019.
ECON 1010 Principles of Macroeconomics Midterm Exam #2 Professor: David Aadland Spring Semester 2019 April 2 nd, 2019 Your Name Section 1: Multiple Choice (50 pts). Circle the correct answer; each is worth
University of Lethbridge Department of Economics ECON 1012 Introduction to Microeconomics Instructor: Michael G. Lanyi. Chapter 21 Jobs & Infl
University of Lethbridge Department of Economics ECON 1012 Introduction to Microeconomics Instructor: Michael G. Lanyi Chapter 21 Jobs & Infl 1) The working-age population is the total number of people
EXAM 3. There are 110 possible points on this exam. The test is out of 100.
Name: KEY ECON 201 Montgomery College David Youngberg EXAM 3 There are 110 possible points on this exam. The test is out of 100. You have one class session to complete this exam, but you should be able
CHAPTER 13. Duration of Spell (in months) Exit Rate
CHAPTER 13 13-1. Suppose there are 25,000 unemployed persons in the economy. You are given the following data about the length of unemployment spells: Duration of Spell (in months) Exit Rate 1 0.60 2 0.20
Macro Economic questions Part I
Macro Economic questions Part I Question Budget Rental Car buys new automobiles for its business from a U.S. company. The value of transaction would be included in which category of the GDP? a. consumer
Economics 1012 A : Introduction to Macroeconomics FALL 2007 Dr. R. E. Mueller Second Midterm Examination October 19, 2007
Economics 1012 A : Introduction to Macroeconomics FALL 2007 Dr. R. E. Mueller Second Midterm Examination October 19, 2007 ================================================================================
Chapter 5 Part 1 Unemployment
Chapter 5 Part 1 Unemployment Objectives: Explain how we measure the unemployment rate and other labor market indicators Explain why unemployment occurs and why it is present even at full employment Explain
MACROECONOMICS. N. Gregory Mankiw. Unemployment 8/15/2011. In this chapter, you will learn: Natural rate of unemployment.
Percent of labor force 0 1 0 U P D A T E S E V E N T H E D I T I O N /15/011 MACROECONOMICS N. Gregory Mankiw PowerPoint Slides by Ron Cronovich C H A P T E R In this chapter, you will learn: about the
PAGE ONE Economics CLASSROOM EDITION. Making Sense of Unemployment Data
CLASSROOM EDITION An informative and accessible economic essay with a classroom application. Includes the full version of Page One Economics, plus questions for students and an answer key for classroom
Economics Spring Benchmark 2
Directions: Read and answer each question carefully. Mark your answers on your bubble sheet. Do NOT write on exam. 1. What does the GDP, gross domestic product, measure? A) the amount of goods bought and
Summer Examinations 2015
Summer Examinations 2015 Module Title Level Time Allowed Introduction to Macroeconomics Four Two hours Instructions to students: Enter your student number not your name on all answer books. Section A:
Chapter 6: Unemployment*
Chapter 6: Unemployment 1/45 * Slides based on Ron Cronovich's slides, adjusted for course in Macroeconomics for International Masters Program at the Wang Yanan Institute for Studies in Economics at Xiamen
Summer 2015 Second Midterm Date: Monday, July 13, 2015
Economics 102 Summer 2015 Second Midterm Date: Monday, July 13, 2015 Name This exam consists of three parts: I) ten binary choice questions worth 2 points each; II) twenty multiple choice questions worth
The 2 nd Midterm 12. Job Search. Explaining the Natural Rate: An Overview. Explaining Structural Unemployment. U.S. Unemployment Since 1960
The 2 nd Midterm 12 U.S. Unemployment Since 1960 This coming Thursday; Regular classroom and lecture time; Please arrive 5 minutes earlier; No.2 pencils, scantron forms, ink pens, nonprogrammable calculators,
ECON 3010 Intermediate Macroeconomics Chapter 7
ECON 3010 Intermediate Macroeconomics Chapter 7 Unemployment Natural rate of unemployment Natural rate of unemployment: The average rate of unemployment around which the economy fluctuates. In a recession,
6/16/2008. Unemployment. In this chapter, you will learn. Assumptions: Natural rate of unemployment. A first model of the natural rate
C H A P T E R Unemployment In this chapter, you will learn about the natural rate of unemployment: what it means what causes it understanding its behavior in the real world slide 1 Natural rate of unemployment
Bureau of Labor Statistics Washington, D.C Technical information: Household data: (202) USDL
News United States Department of Labor Bureau of Labor Statistics Washington, D.C. 20212 Technical information: Household data: (202) 691-6378 USDL 09-0224 http://www.bls.gov/cps/ Establishment data: (202)
Practice Test Unit 4 DO NOT WRITE ON THIS TEST! Multiple Choice Identify the choice that best completes the statement or answers the question.
DO NOT WRITE ON THIS TEST! Practice Test Unit 4 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Consider an economy that only produces two goods: DVDs
Class Notes. Intermediate Macroeconomics. Li Gan. Lecture 5: Unemployment Rate. Basic facts about unemployment:
Class Notes Intermediate Macroeconomics Li Gan Lecture 5: Unemployment Rate Basic facts about unemployment: (1) Unemployment varies a lot over time. (2) More recently, (2) Current status: 1 08/09 06/10
Chapter 7 Unemployment and the Labor Market
Chapter 7 Unemployment and the Labor Market Modified by Yun Wang Eco 3203 Intermediate Macroeconomics Florida International University Summer 2017 2016 Worth Publishers, all rights reserved In this chapter,
Principle of Macroeconomics, Summer B Practice Exam
Principle of Macroeconomics, Summer B 2017 Practice Exam 1) If real GDP in a small country in 2015 is $8 billion and real GDP in the same country in 2016 is $8.3 billion, the growth rate of real GDP between
Component of GDP Effect on GDP The government hires workers to build a new G. Increase road A Canadian company decides to change from a NC
Economics 102 Spring 2018 Answers to Homework #3 Due 3/15/2018 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework
THE EMPLOYMENT SITUATION: MAY 2002
Technical information: Household data: (202) 691-6378 USDL 02-332 http://www.bls.gov/cps/ Establishment data: 691-6555 Transmission of material in this release is http://www.bls.gov/ces/ embargoed until
Technical information: Household data: (202) USDL
2 Technical information: Household data: (202) 691-6378 http://www.bls.gov/cps/ Establishment data: 691-6555 http://www.bls.gov/ces/ Media contact: 691-5902 USDL 07-1015 Transmission of material in this
ECON 10020/20020 Principles of Macroeconomics Problem Set 2
ECON 10020/20020 Principles of Macroeconomics Problem Set 2 Dennis C. Plott University of Notre Dame Department of Economics February 2, 2015 Email: dennis.plott@gmail.com 1 Name: 1. Due: Tuesday 10 th
Answers To Chapter 14
nswers To Chapter 14 eview Questions 1. nswer a. U 15 u = 0.10. U + E = 15 + 135 = 2. nswer a. The degree of economic hardship is clearly influenced by the percentage of the population that is employed,
MONITORING JOBS AND INFLATION*
Chapt er 5 MONITORING JOBS AND INFLATION* Key Concepts Employment and Unemployment Unemployment is a problem for both the unemployed worker and for society. Unemployed workers lose income and, if prolonged,
CHAPTER 6: MONITORING CYCLES, JOBS, AND THE PRICE LEVEL
Principles of Macroeconomics CHAPTER 6: MONITORING CYCLES, JOBS, AND THE PRICE LEVEL Learning Goals: A. A recession started in March 2001 and ended in November 2001. What defines a recession, who makes
2015 Spring ECON 101 Exam 2
Class: Date: 2015 Spring ECON 101 Exam 2 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Ch. 10. When an American household purchases a bottle of Italian
2015 Spring ECON 101 Exam 2
Class: Date: 2015 Spring ECON 101 Exam 2 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Ch. 10. In 2012, GDP per person in the United States was almost
macro macroeconomics Unemployment N. Gregory Mankiw CHAPTER SIX PowerPoint Slides by Ron Cronovich fifth edition
macro CHAPTER SIX Unemployment macroeconomics fifth edition N. Gregory Mankiw PowerPoint Slides by Ron Cronovich 2002 Worth Publishers, all rights reserved Chapter objectives The natural rate of unemployment:
040035/1 UK Introductory Macroeconomics Einführung in die Makroökonomie
Chapter 6 040035/1 UK Introductory Macroeconomics Einführung in die Makroökonomie Wolfgang Schwarzbauer IHS Contents Labour Market Basics Movements in Unemployment Wage Determination Price Determination
Review Questions for Econ1101 Final, Part 1
Review Questions for Econ1101 Final, Part 1 SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 1) Define opportunity cost. A student who has just graduated
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 4. Directions
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 4 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 3. Directions
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 3 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 1. Directions
ECO202: PRINCIPLES OF MACROECONOMICS FIRST MIDTERM EXAM SPRING 2015 Prof. Bill Even FORM 1 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
EC and MIDTERM EXAM I. March 26, 2015
EC102.03 and 102.05 Spring 2015 Instructions: MIDTERM EXAM I March 26, 2015 NAME: ID #: You have 80 minutes to complete the exam. There will be no extensions. The exam consists of 40 multiple choice questions.
CHAPTER 4: GROWTH, UNEMPLOYMENT, AND INFLATION
CHAPTER 4: GROWTH, UNEMPLOYMENT, AND INFLATION CIA4U Unit 2 Macroeconomics: Economic Indicators Statistics Canada keeps track of the labour force through a monthly survey of about 58,000 households who
5 MONITORING CYCLES, JOBS, AND THE PRICE LEVEL* Chapter. Key Concepts
Chapter 5 MONITORING CYCLES, JOBS, AND THE PRICE LEVEL* Key Concepts The Business Cycle The periodic but irregular up-and-down movement in production and jobs is the business cycle. Business cycles have
Changes in workers wealth (from taxes, government services, or supply shocks) affect the labor supply curve by the income effect.
Macroeconomics Module 11: Practice Problems on unemployment The practice problems on labor discuss the variables affecting change the labor supply curve, the quantity of labor supplied, the real wage rate,
Lecture note on moral hazard explanations of efficiency wages
Lecture note on moral hazard explanations of efficiency wages (Background for this lecture is the article by Shapiro and Stiglitz, in the reading list) The value function approach. This approach is used
Business insights. Employment and unemployment. Sharp rise in employment since early 1975
Business insights Employment and unemployment Early each month, usually the first Friday, the United States Bureau of Labor Statistics (BLS) issues its report, "The Employment Situation." This publication
Chapter 5: Production, Income and Employment
Chapter 5: Production, Income and Employment We will take our first look at production and employment, focusing on two key variables: Gross Domestic Product and Unemployment Rate The nation s Gross Domestic
Unemployment. Three criteria have to be met to be considered unemployed.
Unemployment Unemployment Three criteria have to be met to be considered unemployed. Working age: 16 years or older Not working Looking for work Note: The UE rate is calculated for non-institutionalize
Macroeconomics ECO 110/1, AAU Lecture 4 UNEMPLOYMENT
Macroeconomics ECO 110/1, AAU Lecture 4 UNEMPLOYMENT Eva Hromádková, 1.3 2010 Overview of Lecture 4 2 Unemployment: Definitions of basic terminology Model of natural rate of unemployment Types of unemployment
Macroeconomics CHAPTER 15
Macroeconomics CHAPTER 15 Labor Markets, Unemployment, and Inflation PowerPoint Slides by Can Erbil 2006 Worth Publishers, all rights reserved What you will learn in this chapter: The meaning of the natural
3. Suppose the following data represent the market demand for college education: a. If tuition is set at $5,000, how many students will enroll?
PS 4: 38 points Government Intervention: Chapter 9 problems 3. Suppose the following data represent the market demand for college education: a. If tuition is set at $5,000, how many students will enroll?
Print Your Name:. ID Number:.
Econ2105, Professor Laury EXAM 1, FORM A (9/19/02) Print Your Name:. ID Number:. Multiple Choice (32 questions, 2.5 points each, 80 points total). Clearly indicate (by circling) the ONE BEST response to
CIE Economics A-level
CIE Economics A-level Topic 4: The Macroeconomy d) Employment and unemployment Notes Size and components of labour force The working age population is between the ages of 18 and 65 who are actively looking
Homework 2 of ETP Economics
Homework 2 of ETP Economics Winter Term 2014 Due: April 2 1. Which of the following is not included in GDP? a. unpaid cleaning and maintenance of houses b. services such as those provided by lawyers and
Test 4 Economics 224 Chappell November 17, 2010
Test 4 Economics 224 Chappell November 17, 2010 First Name Last Name Last 5 Digits of Student Number (Social Security Number): Instructions: Read These! _ You have 50 minutes to complete this test. Please
Chapter 7 Unemployment, Inflation, and Long-Run Growth
Chapter 7 Unemployment, Inflation, and Long-Run Growth 7.1 Unemployment 1 Multiple Choice 1) We can safely say that total output can increase if there is a(n) A) increase in the size of the labor force
The Influence of Monetary and Fiscal Policy on Aggregate Demand
Chapter 32 The Influence of Monetary and Fiscal Policy on Aggregate Demand Test B 1. Of the effects that help explain why the U.S. aggregate demand curve slopes downward the a. wealth effect is most important
National Income & Business Cycles
National Income & Business Cycles The natural rate of unemployment: what it means what causes it understanding its behavior in the real world 0 1 Natural rate of unemployment Frictional unemployment Structural
ECON 121 Principles of Macroeconomics Problem Set 2 Solutions
ECON 121 Principles of Macroeconomics Problem Set 2 Solutions Dennis C. Plott University of Illinois at Chicago Department of Economics July 1, 2015 Email: dennis.plott@gmail.com 1 Name: 1. Due: Wednesday
Chapter 6 Classical Theory of. Unemployment
Chapter 6 Classical Theory of A crucial assumption for the labor market equilibrium in the benchmark model (Chapter 3): Homogeneity of labor and jobs Allowing for heterogeneity of labor and jobs leads
ECON 1010 Principles of Macroeconomics Exam #2
ECON 1010 Principles of Macroeconomics Exam #2 1. Employment is the total: Section A: Multiple Choice Questions. (40 points; 2 pts each) A) labor force. B) population of working age. C) number of people
TOTAL SCORE EXE 1 EXE 2
TOTAL SCORE MC EXE 1 EXE 2 Econ 002 INTRO MACRO Prof. Luca Bossi February 12, 2015 MIDTERM #1 SOLUTIONS My signature below certifies that I have complied with the University of Pennsylvania's Code of Academic