Start studying Economics: Inflation and deflation.
People who work part time, but desire to work full time, are considered to be officially unemployed.135. In 2010, Tatum's nominal income rose by 4.6 percent and the price level rose by 1.6 percent. Percentage change inSuppose that a person's nominal income rises from $10,000 to $12,000 and the consumer price index rises from 100 to 105. - Deflation is unlikely to occur as deflation last occured during the recession and the economy is now slowly recovering. dividing nominal income by the price index (in hundredths).B. The unemployment rate in Scoob is(previous question # )6.9 - 5 % cyclical unemployment is about 2 percent.The table contains information about the hypothetical economy of Scoob. has favored older employees over younger workers, as employers could hire someone with more experience at the same salary.131.

"Full employment" refers to the situation when there isis equal to the total of frictional and structural unemploymentWhen the economy goes into a recession and firms require less labor, managers tend tolay off workers and keep wages of the remaining workers constantThe inflation rate measures the percentage growth rate ofDemand-pull inflation will continue so long as there is excess total spending in the economyFor a person to keep his real income steady at a certain level from one year to the next, his nominal income mustFor a given real interest rate, the nomial interest must increase if expected inflation increasesRegarding the overall effect of negative interest rates on the economy, economistsare still debating, awaiting the results of the real-world "experiments" in several countriesWhen a recession begins and unemployment begins to rise, the demand for goods and services will fall. (Last Word) Which of the following statements best describes employment changes since the Great Recession?D. (Last Word) Growth in employment since the Great RecessionTrue / False Questions 132. If the natural rate of unemployment in Scoob is 5 percent, thenabout 5 to 6 percent of the labor force is unemployed.The United States' economy is considered to be at full employment whenIn the United States, the rate of unemployment is highest forKara voluntarily quit her job as an insurance agent to return to school full time to earn an MBA degree.
Based on this, lenders should charge a nominal interest rate of120. A lender need not be penalized by inflation if theA. This is a statement ofCompared to other industrial nations, unemployment rates in the United StatesC. As a result,The government agency responsible for collecting and reporting unemployment data is theIn the depth of the Great Depression, the unemployment rate in the United States was about53. Nominal income falls by 2 percent, and the price level falls by 10 percent.107.

Recovery would take longer than usual because the recession was preceded by a credit bubble.128. If the decline in demand is precipitous, which of the following will occur?Which of the following statements about deflation is true?Economist fear deflation because it could lead to a wave of bankruptcies and a downward spiralA cumulative wage-price spiral that produces very rapid inflation is called (Consider This) Which of the following statements is most accurate about economists’ concerns about deflation?B.

if real output decreases then it is assumed that the level of of unemployment will rise, as firms will need fewer workers if there is less demand.

Homer Simpson, an economics professor, decided to take a year off from teaching to run a commercial fishing boat in Alaska. The unemployment rate is55. February 2, 2016 – The Money Enigma Over the past few years, the word “deflation” has become as popular as the word “inflation” in discussions of financial market risk. Unanticipated inflation helps some groups in the economy.141.

Full-Time Employed = 80 Part-Time Employed = 25 Unemployed = 15 Discouraged Workers = 5. The person's real income will105. (Last Word) Which of the following statements is true about employment during the Great Recession?C.

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