Suppose there are 81.0 million people not in the labor force, 154.0 million in the civilian labor force, and 140.9 million employed. Based on these numbers, how many people are counted as unemployed?
A. 59.9 million
B. 73.0 million
C. 81.0 million
D. 13.1 million
Answer: D
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Which of the following would be studied by macroeconomists?
A. Inflation in developing countries. B. The effect of government subsidies on sugar prices. C. The impact of the minimum wage on families below the poverty level. D. The effect of rent controls on housing prices in New York City.
The Federal Reserve System has
A) 50 district banks. B) 12 district banks. C) 24 district banks. D) 7 district banks.
The CPI market basket
A) weights the goods and services according to the budget of an average urban household. B) determines the best possible way of taxing the average urban household. C) determines how the spending patterns of the average urban household change from month to month. D) determines how spending patterns change from urban household to urban household. E) changes from one month to the next in order to calculate the CPI.
Cyclical unemployment is primarily caused by:
a. a large proportion of youthful workers in the labor force. b. fluctuations in aggregate demand. c. a lack of training on the part of job seekers. d. the failure of job seekers to search adequately for the available jobs.