ECONOMICS For HI: 11

If the CPI is 100 in the base year and 135 in the current year, how much did prices rise between these two years?

(a)  

In order to be classified as unemployed, a person must

• not have a job, have been actively looking for work within the past four weeks, and currently be available for work.

• not have a job, and currently be available for work.

• actively have looked for work within the past six weeks.

• not have a job.

The unemployment rate equals the

• number of employed persons divided by the number of unemployed persons.

• number of unemployed persons divided by the civilian non-institutional population.

• number of unemployed persons divided by the civilian labor force.

• sum of unemployed persons and discouraged workers divided by the civilian labor force.

The employment rate equals the number of

• employed persons divided by the number of unemployed persons.

• unemployed persons divided by the civilian non-institutional population.

• employed persons divided by the civilian labor force.

• employed persons divided by the civilian non-institutional population.

In an economy with 200 million people, 120 million hold jobs and 30 million are not working but are looking for jobs. The number of people in the labor force is

(a)  

In an economy with 100 million people, 70 million hold jobs and 9 million are not working but are looking for jobs. The number counted as unemployed is

(a)  

Juan lost his job as a nuclear physicist working for a defense contractor.  He can not find a job because no firms in the defense industry or any other industry are hiring people with his skills.  Juan is ______________ unemployed.

• frictionally

• cyclically

• structurally

• naturally

A plumber who quits his job in San Diego and moves to Orlando where additional plumbers are needed is said to be ___________________ unemployed

• frictionally

• cyclically

• structurally

• naturally

Explain the four types of unemployment. 

Distinguish the difference between demand-pull inflation and cost-push inflation.