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Exam 8: Unemployment and Inflation

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Question 171

Multiple Choice

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Increases in unemployment benefits:

A) increase the natural rate of unemployment.
B) decrease the natural rate of unemployment.
C) affect everyone the same by increasing the natural rate of unemployment.
D) affect everyone the same by decreasing the natural rate of unemployment.

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Question 172

Multiple Choice

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Unexpected inflation _____ lenders and _____ borrowers.

A) benefits; hurts
B) hurts; benefits
C) does not affect; benefits
D) benefits; does not affect

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Question 173

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The increased availability of automatic teller machines has decreased the shoe-leather costs of high inflation.

A survey reveals that on a small island initially 100 people have jobs, 25 people don't have jobs but are looking for jobs, and 45 people are neither working nor looking for work. Suppose that 15 of the 45 people who weren't looking for work now begin looking for work. There are now 40 people looking for work and 100 people working. The unemployment rate:

Deviations from the natural rate of unemployment are _____ unemployment.

Use the following to answer questions: -(Table: Population Data for Estill County) Look at the table Population Data for Estill County. If marginally attached workers are included, the labor force in Estill County is:

Since 1960 in the United States, the rate of inflation has:

The use of online banking would _____ the _____ cost of a high inflation rate.

Discouraged workers is another term for the unemployed.

In general, expansions are characterized by:

Frictional unemployment is a special type of structural unemployment.

The statistics and data on unemployment are gathered and reported:

Unit-of-account costs refer to the problem associated with high inflation rates that:

Which of the following is an example of cyclical unemployment?

The labor force is equal to the:

Use the following to answer questions : Figure: The Effect of a Minimum Wage -(Figure: The Effect of a Minimum Wage) Look at the figure The Effect of a Minimum Wage. Suppose that after some time with a minimum wage of W_F, the government abolishes the minimum wage. Employment will:

Use the following to answer questions: Figure: The Labor Market -(Figure: The Labor Market) Look at the figure The Labor Market. What will be the level of employment if firms decide to pay an efficiency wage of $16?

The Republic of Livonia has an adult population of 100 million; 60% of Livonia's population is employed, and 10% of the people are unemployed. The labor force participation rate in Livonia is:

When inflation rises quickly, borrowers will _____ and lenders will _____.

The unemployment rate in Western Europe has been higher than the unemployment rate in the United States in recent years.