ECO 100 Week 8 Chapter 12 Quiz new complete solution 2020

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ECO 100 Week 8 Chapter 12 Quiz new complete solution 2020 1.Economists define the labor force to include A. all individuals of working age, regardless of whether they are working or looking for... a job. B. people who are working. C. people who are not working but are actively looking for a job, and people who are working. Your answer is correct. D. only people who are working fullminus−time. 2.Economists define the labor force to include A. all individuals of working age, regardless of whether they are working or looking for a job. B. people who are working. C. people who are not working but are actively looking for a job, and people who are working. Your answer is correct. D. only people who are working fullminus−time. 3. ________ unemployment is NOT associated with economic fluctuations. A. Structural B. Cyclical C. Frictional D. both A and C 4. At full employment there is no A. structural unemployment. B. frictional unemployment. C. cyclical unemployment. This is the correct answer. D. all of the above 5. The realminus−nominal principle can be stated as A. only the manufacture of real goods is production. B. production generates income. C. what matters to people is the purchasing power of money or income. Your answer is correct. D. only final goods and services should be counted in GDP. 6. The index most widely used by the government and the private sector to measure changes in the cost of living is the A. the chainminus−type price index. B. the GDP deflator. C. Producer Price Index. D. Consumer Price Index. 7. The percentage rate of change in the price level is called the A. chainminus−type price index. B. rate of absorption. C. rate of inflation. Your answer is correct. D. Consumer Price Index. 8. The biggest problem caused by a deflation is that A. people cannot repay their debts. Your answer is correct. B. interest rates rise. C. wages fall. D. prices fall. 9.Economists call the physical cost of changing prices: A. menu costs. Your answer is correct. B. the cost of doing business. C. inflationary sufferage. D. increasing profits. 10. One cost of unanticipated inflation is A. both lenders and borrowers lose. B. people cannot repay their debts. C. arbitrary redistributions of income. Your answer is correct. D. nominal income falls below real income [Show More]

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