Economics alive

A sustained rise in prices or a sustained fall in the purchasing power of money

• hyperinflation
• deflation
• inflation
• inflation rate

An increase in production costs that results in an increase in prices

• hyperinflation
• consumer price index
• demand pull inflation
• cost push inflation

The percentage of the labor force that is jobless and actively looking for work

• unemployment rate
• civilian labor force
• unemployed labor force
• inflation rate

Who makes up the civilian labor force?

• people over 16, unemployed or actively looking for work
• people over 16 who are not working but are able to work
• people over 16, employed or actively looking for work
• people over 16 who are working or have given up looking for work

People in the military, in schools, or in prison are not included in the

• unemployment rate
• civilian labor force
• inflation rate
• underemployed 

What is the formula to determine the unemployment rate?

• number of unemployed/civilian labor force
• number of employed/civilian labor force
• civilian labor force/number of unemployed
• civilian labor force/number of employed

Which unemployment rate do economists consider full employment in the U.S.?

• 1-2%
• 2-4%
• 4-6%
• 6-8%

Temporary unemployment because of changing jobs or a college graduate looking for a job would be considered _____ unemployment

• frictional
• seasonal
• structural
• cyclical

A migrant worker who is out of work or a construction worker not getting as much work in the colder months would be an example of _____ unemployment

• frictional
• seasonal
• structural
• cyclical

A stay at home mom that decides to go back to work and is looking for work is an example of _____ unemployment

• frictional
• seasonal
• structural 
• cyclical