Unemployment/Inflation

When individuals are searching for a better job is considered what type of unemployment?

• frictional

• cyclical

• structural

• seasonal

Which of the following best defines unemployment?

• The state of being able to work and actively seeking work, but unable to find employment

• The state of being able to work, but choosing not to

• The percentage of the labour force that is able and actively seeking work, but cannot find employment

• The total number of people who do not work

How would the following person be classified? A 25 year old man who stays in his mom’s basement playing video games.

• Employed

• Unemployed

• Not in the Labor Force

How would the following person be classified? 35 year old project manager who was let go because his employer went bankrupt. He's applied for several similar jobs but hasn't heard back as of yet.

• Employed

• Unemployed

• Not in the Labor Force

During the Great Depression the unemployment rate was 24.9%. What type of unemployment cause the increase in the unemployment rate?

• cyclical

• structural

• frictional

• seasonal

Typewriter repair shops have become difficult to find due to the introduction of new technology. What kind of unemployment are the employees of these shops experiencing?

• cyclical

• structural

• frictional

• seasonal

When inflation is high the _______________of the dollar decreases

• cost value
• purchasing power
• importance
• validity

What is inflation?

• rise in all prices
• rise in most prices
• rise in some prices
• rise in general prices

An index that measures the prices of a market basket of goods that typical consumers purchase.

• Consumer Price Index
• Federal Reserve
• Bank
• Deflation

Who is most likely to be hurt by inflation?

• someone who borrowed money
• a retiree on a fixed income
• a business owner
• the U.S. government