The rate of unemployment tends to be lower the:
What will be an ideal response?
higher the education level and the skill of workers
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Why might the official measure of civilian unemployment in the U.S. be an understatement of actual unemployment?
a. Because some workers become discouraged and no longer are actively seeking work. Thus they are not officially counted in the labor force, and consequently are not officially unemployed. b. Because the official measure of civilian unemployment fails to account for very high levels of unemployment among active-duty military personnel. c. Because the statistics count part-time employment as being no different from full-time employment, even though many part-time workers would prefer to be fully employed. d. Both a. and c. above are correct.
The CPI basket of goods represents those goods and services purchased by urban consumers because it represents:
A. over 80 percent of our population. B. over 90 percent of our population. C. 78 percent of our population. D. 60 percent of our population.
If the natural rate of unemployment falls,
a. both the short-run and long-run Phillips curves shift left. b. the short-run Phillips curve shifts left, the long-run Phillips curve is unchanged. c. the short-run Phillips curve is unchanged, the long-run Phillips curve shifts right. d. the short-run and the long-run Phillips curves shift right.
If the Fed wants to limit the money supply, it should ______.
a. buy bonds b. decrease the interest rate paid on reserves c. raise the discount rate d. lower reserve requirements