Unemployment and Inflation Practice

Front

Calculate the inflation rate from the information below.
A Ford truck cost $15,000 in 1999 and the same truck cost $18,000 in the year 2000.

Back

20%.

Front

Calculate inflation from the information below. A new home cost $200,000 in 2020 and the home is sold in 2021 for $250,000.

Back

25%.

Front

What is the labor force participation rate for a country with a working age population of 330 and a labor force of 198?

Back

60%.

Front

What is Country B's unemployment rate if it has a labor force of 150 people and 30 of them are out of work and looking for a new job?

Back

20%.

Front

Use the following information to solve for Country C's unemployment rate: Population 200, Labor Force 180, Employed 144.

Back

20%.

Front

Steve quit his job working at a bank to look for work that pays more he is

Back

frictionally unemployed

Front

John lost his job during the pandemic and after 2 months of looking for a new job with no luck he quits looking. He is

Back

discouraged

Front

As prices rise in an economy or as the value of the dollar decreases every year this is called

Back

inflation

Front

Mark worked on a car assembly line but his job was replaced with a robotic machine that can work 24 hours a day. Mark is

Back

structurally unemployed

Front

2 years ago many people lost their job during quarantine because of Covid. they were

Back

cyclically unemployed