Economics Questions
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Apparel comprises approximately _______ percent of the CPI basket.
What are the alternative measures of the price level and how do they address the problem of the bias in the CPI?The alternative measures of the price level are _______.
The table shows three years of CPI data.Why might these CPI numbers be biased?How can alternative price indexes avoid this bias?Which alternative index might be least biased and why?Question content area bottom leftPart 1The bias in these CPI numbers might arise from _______.
The graph shows the unemployment rate and the natural unemployment rate between 1981 and 2021.Draw a point that shows the unemployment rate when:1) real GDP is less than potential GDP. Label it 1.2) real GDP is greater than potential GDP. Label it 2.3) real GDP is equal to potential GDP. Label it 3.
When the unemployment rate is greater than the natural unemployment rate, the output gap is _______.When the unemployment rate is less than the natural unemployment rate, the output gap is _______.
The workers who quit their jobs and look for another are counted as part of the economy's _______ unemployment because _______.
The natural unemployment rate is the unemployment rate when the economy is _____.
The output gap is real GDP minus _____ expressed as a percentage of _____.
Full employment is when there is no _____ unemployment or, equivalently, when all the unemployment is _____ or _____.
When the economy goes into recession, the output gap is _______.
The labor force is the number of people employed plus the _____.
If the number of discouraged workers decrease because they begin active job seeking, the official unemployment rate _______ and _______ the broader measure of unemployment that includes this category.
Cyclical unemployment is the fluctuating unemployment over the business cycle that increases during _____ and decreases during _____.
The broader measure of unemployment that includes discouraged workers is _______.
In October 2009, the U.S. unemployment rate was 10.0 percent. In October 2011, the unemployment rate was 8.9 percent.Predict what happened to unemployment between October 2009 and October 2011, if the labor force was constant.Question content area bottomPart 1If the labor force remained constant between October 2009 and October 2011, then the number unemployed _______.
The working-age population is the total number of _____ aged _____ years and over who are not in jail, a hospital, or some other form of institutional care or in the U.S. Armed Forces.
The Bureau of Labor Statistics reports six alternative measures of the unemployment rate.Choose the correct statements.a. U-6 adds the economic part-time workers to the official unemployment rate.b. U-3 is the official unemployment rate.c. U-6 measures those who are unemployed for 15 weeks or more.d. U-4 is the official unemployment rate.
The labor force participation rate is the percentage of the _____ who are members of the labor force.
The unemployment rate is the percentage of the people in the _____ who are unemployed.
A marginally attached worker is a person who does not have a job, is _____ and _____ to work, has _____ specific efforts to find a job within the previous _____ weeks, but has looked for work sometime in the recent past.