Graded Homework

I just need answers for the questions.

1. Frictional unemployment is
   

   a.	Unemployment that is due to normal turnover in the labor market
   b.	Unemployment caused by automation in the workplace
   c.	unemployment caused by lack of training and education
   d.	unemployment that is due to the friction of competiting ideological systems
   e.	All of the above

Question 2

1. If the consumer price index was 100 in the base year and 110 in the following year, the inflation was

   110 percent

   100 percent

   11 percent

   10 percent

Question 3

1. Economic growth is measured by changes in

   a.	Nominal GDP
   b.	The money supply
   c.	real GDP per capita
   d.	The rate of unemplyment

Question 4

1. The contractionary phase of the business cycle is characterized by

   reduced output and increased unemployment

   reduced output and reduced unemployment

   increased output and increased unemployment

   increased output and reduced unemployment

Question 5

1. When would consumers and prodcucers experience increased difficulty in coordinating their plans

   in a period of inflation

   in a period of deflation

   in a period of either inflation or deflation

   none of the above

Question 6

1. The unemployment rate is the number of people officially unemployed divided by

   a.	The civilian labor force
   b.	The noninstitutional population
   c.	The total population
   d.	The number of people unemplyed
   e.	None of the above

Question 7

1. The CPI is a measure of

   the overall cost of goods and services produced in the economy

   the overall cost of inputs purchased by a typical producer

   the overall cost of buying a market basket of goods and services by a typical consumer

   the overall cost of stocks on the New York Stock Exchange

Question 8

1. High rates of unemployment

   a.	Can lead to increased tensions and despair
   b.	Result in the loss of some poential output in sociey
   c.	reduce th epossible level of consumtion in society
   d.	represent a loss of efficiency in society
   e.	All of the above are true

Question 9

1. Inflation can harm

   retiress on fixed pensions

   borrowers whose incomes grow slower than inflation

   wage earners whose incomes grow slower than inflation

   either (a) or (c)

   all of the above

Question 10

1. A business cycle reflects changes in the economic activity,particularly real GDP. The tages of a business cycle in order are

   expansion, peak, contraction, and trough

   expansion, peak, contraction, and peak

   contraction, recession, expansion, and boom

   trough, expansion, contraction, and peak

Question 11

1. The three major macroeconomics goals of every society are

   1.	Maintaining stable prices, reducing interst rates, and achieving a high rate of economic growth
   2.	Maintainingg high level of employment, increasing the supply of money, and achieving a high rate of economic growth
   3.	Maintaining stable prices, maintaining high levels of employment, and achieving high rates of economic growth
   4.	Achieving high rates of economic growth, reducing unemployment, and reducing interest rates

Question 12

1. Unemployment caused by a contraction in the economy is called

   frictional unemployment

   cyclical unemployment

   structural unemployment

   seasonal unemployment

Question 13

1. In the contraction phrase of the business cycle,

   output is rising

   unemployment is falling

   consumer and business confidence are high

   investment is rising

   none of the above

Question 14

1. The labor supply consists of

   a.	discouraged workers, employed workers, and those actively seeking work
   b.	All persons over the age of 16 who are working or actively seeking work
   c.	All person over the age of 16 who are able to work
   d.	All persons over the age of 16 who are working, plus those not working
   e.	Discourage workers, part-time workers, and full-time workers

Question 15

1. When unemployment rises above the natural rate, it reflects the existence of —————— unemployment

   frictional

   structural

   seasonal

   cyclical