Macro Measures Review

Which of these types of unemployment is characterized by peaks of joblessness at specific times of the year?

• Seasonal
• Cyclical
• Frictional
• Structural

Which of these is an economic indicator used to tell how an economy is doing?

• Equilibrium Price
• Consumer Price Index
• Job Satisfaction Rate
• Presidential Approval Rate

Ned is a typewriter repairman. As typewriters are being replaced by computers Ned finds less and less work. What kind of unemployment is Ned experiencing?

• Seasonal
• Cyclical
• Frictional
• Structural

Kris applies for the sales position and does well. However, she is laid off in late October due to slow sales. This is an example of what type of unemployment?

• Cyclical
• Frictional
• Organizational
• Structural

Inflation is most harmful to

• debtors
• creditors
• wage earners
• property owners

Joe has been working at a coffee shop since he graduated from college. But yesterday he realized that if he has to fill another coffee cup he will cry, so he quit his job. He'll look for another job once he gets the smell of coffee out of his clothes. What kind of unemployment is Joe experiencing?

• Cyclical
• Frictional
• Stuctural
• Technological

Which term is used to describe a situation where most people who are looking for work are able to find a job?

• Full employment
• Seasonal employment
• Frictional unemployment
• Structural unemployment

The unemployment rate is usually calculated as the number of unemployed individuals

• multiplied by the total number of people in a society.
• divided by the total number of people in a society.
• multiplied by the total number of people in a labor force.
• divided by the total number of people in a labor force.

The difference between nominal GDP and real GDP is

• the prices used in the calculations.
• the taxes used within the calculations.
• that nominal GDP uses exports and real GDP uses net exports.
• that nominal GDP included the depreciation of assets and real GDP uses the appreciation of capital.

Which of these will lead to an increase in the United States gross domestic product?

• An increase in US tourism to Cuba.
• Used textbook sales increase by 20%.
• The US government bans the purchase of cigarettes.
• Foreign car companies build new assembly plants in the United States.