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The type of unemployment most likely to result in hardship for the people who are unemployed isA.frictional because people need to find a new job in the labor market.B.cyclical because people have to wait for a recession to end.C.cyclical and frictional because these two types are closely related.D.structural because this type of unemployment requires retraining to acquire new job skills.

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Changes in the CPI overstate the true inflation rate due to four​ "biases." If apple prices rise rapidly during the month while orange prices​ fall, consumers will reduce their apple purchases and increase their orange purchases.Which of the four biases is concerned with this consumer​ behavior?A.the new product biasB.the substitution biasC.the increase in quality biasD.the outlet bias

Why does inflation make nominal GDP a poor measure of the increase in total production from one year to the​ next?A.When nominal GDP increases from year to​ year, the increase is due partly to changes in prices and partly to changes in quantities.B.GDP is a measure of production in quantity terms.C.Nominal GDP separates increases in GDP as a result of price changes from increases in GDP as a result of quantity changes.D.All of the aboveE.A and B only

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