The beginning of a recession is called the:
A. expansion.
B. depression.
C. peak.
D. trough.
Answer: C
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The ________ is the total number of people aged 16 years and older (and not in jail, hospital or institutional care) while the ________ is the number of people employed and the unemployed
A) labor force; working-age population B) labor force participation rate; labor force C) working-age population; labor force D) working-age population; labor force participation rate
Job search theory regards ________ unemployment as a socially valuable, productive investment undertaken by the job searcher
A) structural B) cyclical C) mismatch D) frictional
Your textbook presents as an example of a distributed lag regression the effect of the weather on the price of orange juice
The authors mention U.S. income and Australian exports, oil prices and inflation, monetary policy and inflation, and the Phillips curve as other potential candidates for distributed lag regression. You are considering estimating the effect of minimum wages on teenage employment (employment population ratio) using a time series of U.S. data. Write a short essay on whether a distributed lag model would be a suitable tool to figure out dynamic causal effects in this case. What will be an ideal response?
In 1860 the ratio of farmers to manufacturing workers was roughly ____ ; by 1910 that ratio was ____
a. 1:1; 1:5 b. 1:3; 1:1 c. 3:1; 1:1 d. 10:1; 1:1