If the quality of a good improves while its price remains the same. then the value of a dollar

23. When the quality of a good improves while its price remains the same, the purchasing power value of money increases, but the government understates this change in the cost of living if the quality improvement is not taken into account in formulating the consumer price index. 24, who of the following would be included in the Bureau of Labor Statistics monthly count of the unemployed Miguel, who is on temporary layoff (b) Marisa, who neither has a nor is king for one (c) Many, who worked only 15 hours job of in each of the last four weeks (d none 25. Sam works part-time at Best Buy, but really wants a fulltime job at the store. The Bureau of Labor Statistics counts Sam as (a) a discouraged worker (b) as part-time structurally unemployed (c) as employed and in the labor force (d all of the above 26. in the country people are employed and 5 million are ployed, then (a) 5 million in the labor force are not (b) 75 million are in the labor force (c)35 million are in the labor force (d) 30 million are not in the labor force 27. Which of the following is not an explanation for the existence of structural unemployment in the the increasing productivity ofUS state and federal minimum wage laws (e) technological displacement 28. Some economists contend that frictional unemployment in the US could be reduced if the government (a) reduced unemployment insurance benefits (b) provided all US residents with universal health insurance benefits (c) eliminated all federal and state minimum wage laws (d) all of the above 29. In 2016, the US unemployment rate averaged 5%. Economists consider most of this rate to be (a) cyclical unemployment (b) structural unemployment (c) frictional unemployment (d) seasonal unemployment 30. US data on unemployment and inflation in the 1970s shows that in some years both inflation and unemployment increased. According to Phillips curve analysis this was due to (a) unanticipated shock inflation (b) a mis-reading of the data; the curve shifted to the right in the 1970s (c) a fundamental shift in the elasticity G-e. degree of responsiveness) of the Phillips curve (d) the effects of the wage-price spiral 31. According to Phillips curve analysis, if unemployment is at its natural rate, astimulative monetary and fiscal policy will not cause inflation. 32. Wage-price controls are seen by advocates as a way for government to (a) eliminate cost push pressure in the economy (b prevent inflationary expectations from developing in the economy (c) bring to the market fairer prices for consumers and fairer wages for workers of the above


in the coum uphos em 3o mllien ose not in the laber gonce

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