Microeconomics For Today 9Th Edition Tucker Test Bank Full Chapter PDF

Microeconomics For Today 9th Edition
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1. Which of the following is associated with peaks in the business cycle?
a. Relatively high levels of unemployment.
b. Recessions.
c. Relatively low levels of unemployment.
d. Both answers a. and b. above are correct.
ANSWER: c
DIFFICULTY: Easy
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: The Business–Cycle Roller Coaster
2. How do we measure economic growth?

a. Increases in the price level, as indicated by the GDP chain price index.
b. Increases in nominal GDP.
c. Increases in real GDP.
d. Increases in the labor force.
ANSWER: c
DIFFICULTY: Easy
3. Economists use the phrase "business cycle" when referring to fluctuations in:
a. real GDP.
b. the chain price index.
c. the consumer price index.
d. the general level of prices.
ANSWER: a
DIFFICULTY: Easy
4. The period of declining growth in real GDP between the peak of the business cycle and the trough is called a(n):
a. recessionary phase.
b. expansionary.
c. recovery phase.
d. stationary phase.
ANSWER: a
DIFFICULTY: Easy
5. The period of growth in real GDP between the trough of the business cycle and the next peak is called the:
a. recessionary phase.
b. recovery phase.
c. contractionary phase.
d. cyclical phase.
ANSWER: b
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DIFFICULTY: Easy
6. Which of the following will most likely occur during the recessionary phase of a business cycle?
a. Real GDP rises, and the unemployment rate falls.
b. Real GDP declines, and the rate of inflation rises.
c. The sales of most businesses decline, and the unemployment rate rises.
d. Inflation rises, and employment/population ratio falls.
ANSWER: c
DIFFICULTY: Easy
7. Which of the following will most likely occur during the recovery phase of a business cycle?
a. Real GDP rises, and unemployment falls.
b. Real GDP declines, and inflation rises.
c. Interest rates rise, and the number of business failures rise.
d. Inflation rises, and employment falls.
ANSWER: a
DIFFICULTY: Easy
NATIONAL STANDARDS: United States - BUSPROG:Analytic:Ref - BUSPROG: Analytic
8. Economists usually use the term "recession" to refer to:

a. any slowdown in the growth of real GDP.
b. zero real GDP growth.
c. two or more consecutive quarters of declining real GDP.
d. a reduction in nominal GDP lasting more than six months.
ANSWER: c
DIFFICULTY: Easy
9. Which of the following is true of the business cycle record of the United States?
a. Recessions have been lengthier during the last two decades than was true prior to 1980.
b. Real GDP contracted throughout most of the 1950s.
c. Real GDP in 2000 was approximately the same as 1950.
d. Since 1950, the fluctuations in GDP have been less severe than before 1950.
ANSWER: d
DIFFICULTY: Moderate
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
10. A business cycle is the:

a. period of time in which expansion and contraction of economic activity are equal.
b. period of time in which there are three phases: peak, depression, and recovery.
c. recurring growth and decline in real GDP.
d. period of time in which a business is established and ceases operations.
ANSWER: c
DIFFICULTY: Easy
11. The point at which real GDP reaches a maximum during a business cycle is called the:
a. peak.
b. recession.
c. recovery.
d. trough.
ANSWER: a
DIFFICULTY: Easy
12. The period during which real output falls during a business cycle is called:
a. peak.
b. recession.
c. recovery.
d. trough.
ANSWER: b
DIFFICULTY: Easy
13. The phase of the business cycle that follows a recession is known as the:
a. peak.
b. recession.
c. recovery.
d. trough.
ANSWER: d
DIFFICULTY: Easy
14. As a general rule, a recession is a decline in real GDP lasting at least:

a. one year.
b. six months.
c. three months.
d. one month.
ANSWER: b
DIFFICULTY: Easy
15. As a general rule, a recession occurs when there is a six consecutive month fall in:
a. nominal GDP.
b. real GDP.
c. the price level.
d. the trade balance.
ANSWER: b
DIFFICULTY: Easy
16. Since World War II, the average length of recessions in the United States has been:
a. 2 months.
b. 11 months.
c. 2 years.
d. 3 1/2 years.
ANSWER: b
DIFFICULTY: Easy
17. A business cycle is the period of time in which:

a. a business is established and ceases operations.
b. there are four phases: peak, recession, trough and expansion.
c. the price level varies with real GDP.
d. expansion and contraction of economic activity are equal.
e. none of these are true.
ANSWER: b
DIFFICULTY: Easy
18. What stage of the business cycle immediately follows the trough?
a. Peak.
b. Expansion.
c. Recession.
d. Depression.
ANSWER: b
DIFFICULTY: Easy
19. The ____ phase of the business cycle follows a recession.

a. recovery
b. recession
c. peak
d. trough
ANSWER: d
DIFFICULTY: Easy
20. A phase in the business cycle in which the economy's real GDP declines is known as:
a. a depression.
b. a recession.
c. a downtick.
d. disequilibrium.
e. limited demand.
ANSWER: b
DIFFICULTY: Easy
21. A long and deep recession in the business cycle is:

a. unemployment.
b. a trough.
c. a recession.
d. a depression
e. unavoidable.
ANSWER: d
DIFFICULTY: Easy
22. The business cycle consists of four phases. At the top we have:
a. expansion, followed by peak, and then recession followed by a recession.
b. expansion, followed by a recession, and then peak followed by recession.
c. peak, then an upturn followed by a recession, and then recession.
d. peak, then a recession followed by expansion, and then recession.
e. peak, then a recession followed by recession, and finally, expansion.
ANSWER: e
DIFFICULTY: Easy

Exhibit 6-1 Business cycle
23. In Exhibit 6-1, the recovery phase of the business cycle can be represented by points:
a. A.
b. C.
c. E.
d. C to E.
e. E to G.
ANSWER: e
DIFFICULTY: Easy
24. In Exhibit 6-1, point E represents:

a. recession and a trough.
b. peak and a trough.
c. recession and a peak.
d. recovery and a peak.
ANSWER: a
DIFFICULTY: Easy
25. In Exhibit 6-1, the recession phase of the business cycle can be represented by point(s):
a. CDE.
b. BCD.
c. EFG.
d. A and E.
ANSWER: a
DIFFICULTY: Easy
26. The phase in the business cycle in which real GDP declines is called a:
a. trendline.
b. peak.
c. recession.
d. recovery.
e. trough.
ANSWER: c
DIFFICULTY: Easy
TOPICS: The Business-Cycle Roller Coaster
27. If you look for a job for eighteen months after graduation, but fail to generate an offer, even after lowering your
expectations, the economy is probably in the business cycle phase called a:
a. recession.
b. peak.
c. boom.
d. recovery.
e. trough.
ANSWER: a
DIFFICULTY: Easy
28. If real GDP declines for at least one-half year, the economy is experiencing a:
a. depression.
b. decline.
c. recession.
d. growth recession.
e. deflation.
ANSWER: c
DIFFICULTY: Easy
29. A general rule is that economy is experiencing a recession when:

a. real GDP declines for at least three months.
b. real GDP declines for at least nine months.
c. nominal GDP declines for at least nine months.
d. real GDP declines for at least six months.
e. nominal GDP declines for at least six months.
ANSWER: d
DIFFICULTY: Easy
30. Since 1929, real GDP in the United States has grown at an average annual rate of about:
a. 0.5 percent.
b. 1 percent.
c. 3 percent.
d. 7.5 percent.
ANSWER: c
DIFFICULTY: Easy
31. Which of the following percentages is closest to the long-run average growth rate for the U.S.?
a. 15 percent.
b. 10 percent.
c. 5 percent.
d. 3 percent.
ANSWER: d
DIFFICULTY: Easy
32. Economic growth is measured by the annual percentage increase in a nation's level of:
a. nominal GDP.
b. real GDP.
c. real GDP deflator.
d. economic indicators.
ANSWER: b
DIFFICULTY: Easy
33. Which of the following is a leading business cycle indicator?

a. The unemployment rate.
b. The volume of outstanding commercial loans.
c. New building permits.
d. Personal income.
ANSWER: c
DIFFICULTY: Easy
34. The government's chief forecasting gauge for business cycles is the:
a. unemployment rate.
b. real GDP.
c. personal income index.
d. index of leading indicators.
ANSWER: d
DIFFICULTY: Easy

35. Which of the following is not a variable in the index of leading indicators?
a. Average work week.
b. Duration of unemployment.
c. Employment claims.
d. New businesses.
ANSWER: b
DIFFICULTY: Easy
36. Suppose the index of leading economic indicators begins to decline for several months. Which of the following
economic events will likely follow?
a. A recession.
b. Severe inflation.
c. Greater employment.
d. Higher investment.
ANSWER: a
DIFFICULTY: Easy
37. Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes,
are called:
a. leading.
b. lagging.
c. coincident.
d. structural.
ANSWER: a
DIFFICULTY: Easy
38. Variables that change before real GDP changes are measured by the:
a. personal income index.
b. real GDP index.
c. forecasting gauge.
d. index of leading indicators.
ANSWER: d
DIFFICULTY: Easy
39. Which of the following is not a coincident indicator?

a. Personal income.
b. Industrial production.
c. Manufacturing and trade sales.
d. All of these.
ANSWER: d
DIFFICULTY: Easy
40. Which of the following is a lagging indicator?

a. Outstanding commercial loans.
b. Duration of unemployment.
c. Prime rate.
d. All of these.
ANSWER: d
DIFFICULTY: Easy
41. Which of the following is not a lagging indicator?

a. Duration of unemployment.
b. Stock prices.
c. Outstanding commercial and industrial loans.
d. Prime rate.
ANSWER: b
DIFFICULTY: Easy
42. People who do not work because of physical disability are officially classified as:
a. in the labor force.
b. unemployed.
c. not in the labor force.
d. discouraged worker.
ANSWER: c
DIFFICULTY: Easy
TOPICS: Unemployment
43. Which one of the following persons would be considered unemployed?

a. A person not working who has given up searching for a job.
b. A part-time worker looking for a full-time job.
c. A construction worker who was laid off due to cold weather.
d. A full-time college student who is not a member of the labor force.
ANSWER: c
44. Which of the following groups of people are members of the labor force?
a. People in prison.
b. Full-time students.
c. People over 16 years of age who are employed.
d. Anyone not actively looking for work during the past 30 days.
ANSWER: c
DIFFICULTY: Easy
45. The civilian labor force consists of:

a. all civilians over the age of 16.
b. the employed plus the unemployed who are not in the military.
c. only individuals who are actually at work during a given week.
d. civilians who are not in prisons or mental hospitals.
ANSWER: b
DIFFICULTY: Easy
46. Retired persons are officially classified as:

a. unemployed.
b. self-employed.
c. underemployed.
d. not in the labor force.
ANSWER: d
DIFFICULTY: Easy
47. Find the size of the civilian labor force from the following data: frictional unemployment = 150, structural
unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully
employed workers = 850, total population = 2,000.
a. 1,425
b. 1,450
c. 1,500
d. 1,525
e. 2,000
ANSWER: c
48. Stephen Moreno reported to the government interviewer that he worked 40 hours last week as a stocker at a Target
department store. He is:
a. a member of the civilian labor force who is employed.
b. a member of the civilian labor force who is unemployed.
c. a member of the civilian labor force who is underemployed.
d. a discouraged worker who is not a member of the labor force.
e. not a member of the labor force.
ANSWER: a
49. Martin Shore lost his job when General Motors closed down its local plant. He has been visiting the personnel offices
of the other factories in the area, looking for a new job. He is:
ANSWER: b
50. Mallory Trammell is a homemaker. Last week, she was busy with her normal household chores. She is:
ANSWER: e
51. Ryan Black does not work and has not looked for work because of a disability. He is:
ANSWER: e
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
52. Which one of the following people is not a member of the labor force?
a. A full-time student who devotes all her time to her classes.
b. A person who works 30 hours a week at Burger King and goes to school at night.
c. The man who was fired last week and is searching for a new job.
d. The President of the United States.
e. A professional athlete.
ANSWER: a
DIFFICULTY: Easy
53. Which one of the following people would not be considered a part of the labor force?
a. A steel worker who was laid off last week and is seeking work.
b. A steel worker who was laid off last year and is no longer seeking work.
c. A student who also works part-time.
d. A member of the U.S. Navy.
e. A retired college professor paid to teach a summer course.
ANSWER: b
54. The civilian labor force consists of all the:

a. people in the economy who are not retired.
b. people in the economy over 16 years of age.
c. adults in the economy between 18 and 65 years old who are able to work.
d. noninstitutionalized adults in the economy who hold jobs or are looking for them.
e. citizens in the economy who are graduates of high school.
ANSWER: d
DIFFICULTY: Easy
55. Which of the following people is counted in the labor force?

a. Jerry, who lost his job and last looked for work three months ago.
b. Bob, who holds an MBA in management but can only find part-time employment at a fast-food restaurant.
c. Phil, who would like to work as a stockbroker but is now a househusband.
d. Mickey, who thinks he could easily become a millionaire, despite the opinion of the psychiatrist at the state
hospital where he is a patient.
e. Donna Jean, age 90, who is enjoying her retirement in Montana.
ANSWER: b
56. People who are not currently employed, but say they want a job, are counted as unemployed only if they:
a. have previously held a job.
b. are actively seeking employment.
c. are willing to accept a reasonable offer.
d. are between 16 and 65 years of age.
e. are willing to accept any offer of employment.
ANSWER: b
DIFFICULTY: Easy
57. Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of
whom are retired. The number of people in the civilian labor force is:
a. 30.
b. 60.
c. 85.
d. 90.
e. 70.
ANSWER: e
DIFFICULTY: Easy
58. Consider an economy made up of 100 people, 60 of whom old jobs, 10 of whom are looking for work, and 15 of
whom are retired. The number counted as unemployed is:
a. 10.
b. 15.
c. 40.
d. 30.
e. 90.
ANSWER: a
DIFFICULTY: Easy
59. Which of the following is not a way to become officially unemployed?

a. Quit your job to look for a better job in another part of the country.
b. Be fired from your job.
c. Look for a job after being out of the civilian labor force for five years.
d. Retire.
e. Look for a job only for the period in the summer that you are out of school.
ANSWER: d
60. How do the Bureau of Labor Statistics and the Bureau of the Census estimate U.S. unemployment each
month?
a. They contact each state’s unemployment office and gather data on new claims for unemployment.

b. They randomly survey about 60,000 U.S. households to determine how many people are in the labor
force, and what proportion of them is unemployed.
c. They track released prisoners. These agencies adjust released prisoner employment unemployment
rate proxy (PURP).
d. None of the above are correct.
ANSWER: b
DIFFICULTY: Easy
61. Which of the following is the correct formula for determining the civilian unemployment rate?
a. [(the number of unemployed, working-age civilian seeking work)/(the number of civilian in the labor
force)] x 100.
b. C + I + G + (X-M).
c. The total number of unemployed, working-age civilians seeking work.
d. (The number of civilian in the labor force) x 100.
ANSWER: a
DIFFICULTY: Easy
62. 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.
ANSWER: d
DIFFICULTY: Easy
63. The unemployment rate equals the number of persons:

a. unemployed divided by the number employed.
b. unemployed divided by the number in the labor force.
c. unemployed divided by the population age 16 and over.
d. not working divided by the population age 16 and over.
ANSWER: b
DIFFICULTY: Easy
64. In a dynamic economy under ideal conditions:

a. the unemployment rate should be near zero.
b. some unemployment would be present due to workers temporarily being out of work while changing jobs.
c. unemployment would tend to move upward slightly as prices increased.
d. unemployment would tend to move slightly downward as unemployment compensation benefits increased.
ANSWER: b
65. An individual who is employed part time, but is looking for a full-time job, is classified as:
a. frictionally unemployed.
b. cyclically unemployed.
c. structurally unemployed.
d. employed.
ANSWER: d
DIFFICULTY: Easy
TOPICS: Types of Unemployment
66. Which of the following groups of people are counted as employed?

a. People who work at least one hour a week.
b. People who work at least 15 hours a week as unpaid employees of a family business.
c. People who are out of work due to bad weather.
d. All of these are counted as employed.
ANSWER: d
DIFFICULTY: Easy
67. The unemployment rate measures the percentage of:

a. people in the civilian labor force who are without jobs and actively seeking jobs.
b. the U.S. population that is out of work and actively seeking a job.
c. the civilian noninstitutionalized population that is out of work and actively seeking a job.
d. people over age 21 who are without jobs and actively seeking jobs.
ANSWER: a
DIFFICULTY: Easy
68. One problem with the unemployment rate is that:

a. discouraged workers are included in the calculation.
b. the data includes part-time workers as fully employed.
c. underemployment is measured in the calculation.
d. all of these are problems.
ANSWER: b
DIFFICULTY: Easy
69. Which of the following people would be officially counted as unemployed?

a. A person who works only 5 hours per week for pay.
b. A full-time college student who chooses not to have a paying job.
c. A family member who works 20 hours per week without pay.
d. A jobless high-school graduate who is actively looking for work.
ANSWER: d
70. If a sizable number of workers were switched from full-time to half-time employment, then the official unemployment
rate would:
a. rise.
b. fall.
c. remain unchanged.
d. react unpredictably.
ANSWER: c
71. A criticism of the unemployment rate is that:

a. underemployment is measured in the calculation.
b. the data includes part-time workers as fully employed.
c. discouraged workers are included in the calculation.
d. all of these are problems.
ANSWER: b
DIFFICULTY: Easy
72. Which of the following statements would come from someone classified as unemployed?
a. I'm not working because I'm going to Jamaica with my buddy.
b. I haven't had a job in a year, and I stopped looking for a job nine months ago.
c. I'm a full-time student at the University of Illinois who doesn't have time to work.
d. I can't stand my current job as a telemarketer. I used to be a nuclear engineer.
e. I'm not working. I had three interviews this week, and I'm trying to find a job.
ANSWER: e
73. The unemployment rate is the percentage of the:

a. civilian labor force that is unemployed or working part-time.
b. civilian labor force that is unemployed.
c. civilian labor force that is unemployed less the number of government workers.
d. adult population that is unemployed.
e. adult population that is unemployed or looking for a better job.
ANSWER: b
DIFFICULTY: Easy
Exhibit 6-2 Unemployment categories
# of
Category Individuals
Frictional unemployment 20
Structural unemployment 35
Cyclical unemployment 60
Discouraged workers 5
Underemployed workers 10
Fully employed workers 410
Population 900
74. The unemployment rate for the economy in Exhibit 6-2 is:
a. 28 percent.
b. 30.5 percent.
c. 31.7 percent.
d. 12.8 percent.
e. 21.5 percent.
ANSWER: e
75. Find the BLS's rate of unemployment from the following data: frictional unemployment = 150, structural
unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully
employed workers = 850, total population = 2,000.
a. 17.5 percent
b. 23.3 percent
c. 24.6 percent
d. 28.8 percent
e. 38.3 percent
ANSWER: e
76. Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of
whom are retired. The unemployment rate is approximately:
a. 10 percent.
b. 12 percent.
c. 17 percent.
d. 20 percent.
e. 25 percent.
ANSWER: c
DIFFICULTY: Easy
77. The unemployment rate will increase whenever there is a(n):

a. increase in the number of persons classified as unemployed.
b. increase in the number of unemployed persons relative to the size of the labor force.
c. increase in the size of the U.S. population and there is no change in the number of persons classified as
employed.
d. reduction in the size of the labor force.
e. reduction in the size of the civilian labor force while the number of unemployed decreases.
ANSWER: b
78. Suppose u = those adults who are unemployed and seeking work; e = those adults who are employed; and NLF =
those adults not in the labor force. Which expression would equal the BLS definition of the unemployment rate?
a. u / (e + NLF)
b. u / e
c. u / (u + e)
d. u / (e + NLF)
e. u / (u + e − NLF)
ANSWER: c
79. Suppose the official unemployment rate is 10 percent. We can conclude without question that:
a. the same 10 percent of the people in the economy were out of work for the entire ear.
b. one of every 10 people in the civilian labor force is currently unemployed.
c. the same 10 percent of the people in the civilian labor force were out of work for the entire year.
d. every person in the civilian labor force was out of work for 10 percent of the year.
e. 10 percent of the people in the economy were out of work for 10 percent of the year.
ANSWER: b
80. The unemployment rate will decrease whenever there is a(n):

a. increase in the number of persons classified as unemployed.

b. decrease in the number of unemployed relative to the size of the labor force.
c. decrease in the size of the population and there is no change in the number of persons classified as employed.
d. reduction in the size of the labor force.
e. decrease in the number of unemployed and the population does not change.
ANSWER: b
Exhibit 6-3 Unemployment categories
Category Workers
Frictional unemployment 250
Structural unemployment 350
Cyclical unemployment 600
Discouraged workers 400
Underemployment 450
81. According to data in Exhibit 6-3 and assuming the total number of workers is 8,400, the civilian labor force is:
a. 7,550.
b. 8,000.
c. 8,400.
d. 8,800.
e. 9,250.
ANSWER: b
82. According to data in Exhibit 6-3 and assuming the total number of workers is 8,400, the unemployment rate is:
a. 14 percent.
b. 15 percent.
c. 16 percent.
d. 19 percent.
e. 24 percent.
ANSWER: b
83. A person who has given up searching for work is called:

b. structurally unemployed.
c. a discouraged worker.
d. unemployed.
ANSWER: c
DIFFICULTY: Easy

84. The number of people officially unemployed is not the same as the number of people who can't find a job because:
a. the armed forces is included.
b. some people have jobs but continue to look for a better one.
c. some people who can't find a job become discouraged and quit looking.
d. none of these.
ANSWER: c
DIFFICULTY: Easy
85. The number of people officially unemployed is not the same as the number of people who can't find a job because:
a. people who have jobs continue to look for better ones.
b. the armed forces is included.
c. discouraged workers are not counted.
d. none of these.
ANSWER: c
DIFFICULTY: Easy
86. Brian Vargo, an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an
hour, is:
a. counted as part of the labor force.
b. considered frictionally unemployed.
c. an underemployed worker.
d. not counted as part of the labor force.
e. considered as productively active.
ANSWER: d
87. John Steinbeck's Cannery Row describes a character who takes his own life because of poor job prospects. If he was
an unemployed person who gave up looking for work, he would be considered:
a. chronically unemployed.
b. a discouraged worker.
c. a member of the labor force.
d. frictionally unemployed.
ANSWER: b

88. Elisa Kilhafer, a housewife in St. Louis, Missouri, who claims on a Bureau of Labor Statistics (BLS) survey that she is
neither gainfully employed nor looking for work, is, according to the BLS:
a. considered retired.
b. counted as unemployed.
c. considered reemployable.
d. counted as a member of the labor force.
e. not counted as a member of the labor force.
ANSWER: e
89. Andrea Burris lost her job in a company layoff 5 months ago. She would take a job if one was offered, but she has
given up looking for work until the economy improves. She is:
e. now structurally unemployable.
ANSWER: d
90. The presence of discouraged workers may cause:

a. the employment rate to be overstated.
b. the employment rate to be understated.
c. the unemployment rate to be overstated.
d. the unemployment rate to be understated.
e. GDP to be too large.
ANSWER: d
DIFFICULTY: Easy
91. A discouraged worker is one who:

a. is underqualified for the current job.
b. dislikes the current job but is afraid to quit.
c. drops out of the civilian labor force because he/she cannot find a job.
d. quits his/her job because the possibility of advancement was very low.
e. is overqualified for the current job.
ANSWER: c
DIFFICULTY: Easy

92. Whom does the Bureau of Labor Statistics include in the discouraged workers group?
a. All those between 16 and 65 who are neither disabled nor in an institution and are also neither employed nor
seeking employment.
b. Civilian labor force members who have chosen early retirement because they dislike their work or think the
pay is too low.
c. Members of the noninstitutional population who say they want to be employed but aren't searching for a job.
d. Members of the civilian labor force who are looking for a job but cannot find one.
e. Anyone in the population who is not working.
ANSWER: c
DIFFICULTY: Easy
93. Exclusion of which of the following tends to understate the true level of unemployment in the economy?
a. Children.
b. Retired persons.
c. Students.
d. People who do not want to work.
e. Discouraged workers.
ANSWER: e
DIFFICULTY: Easy
94. Whom does the Bureau of Labor Statistics include in the "discouraged workers" group?
a. All those between 16 and 65 who are neither disabled nor in an institution and are also neither employed nor
seeking employment.
b. Civilian labor force members who have chosen early retirement because they dislike their work or think the
pay is too low.
c. Members of the noninstitutional population who say they want to be employed but aren't searching for a job.
d. Members of the civilian labor force who are looking for a job but cannot find one.
e. Anyone in the population who is not working.
ANSWER: c
DIFFICULTY: Easy
95. Which of the following offers an example of frictional unemployment?

a. The rise in unemployment for stable workers after the development of gasoline-powered automobiles
and the resulting long-tern decline in horse-and-buggy transportation.
b. The rise in unemployment among farm workers after harvest.
c. Unemployment resulting from the business cycle.
d. None of the above are correct.
ANSWER: b
96. The primary cause of frictional unemployment is:

a. discouraged workers who give up looking for work.
b. fluctuations in aggregate demand.
c. the lack of training and marketable qualifications in job seekers.
d. inaccurate information about job opportunities.
ANSWER: d
DIFFICULTY: Easy
97. Unemployment that is of a short duration to allow time to find a new job is:
a. structural unemployment.
b. cyclical unemployment.
c. frictional unemployment.
d. durational unemployment.
ANSWER: c
DIFFICULTY: Easy
98. A person who voluntarily quits his/her job in New York and expects to get a similar job in Los Angeles is an example
of:
c. durational unemployment.
d. frictional unemployment.
ANSWER: d
99. Frictional unemployment refers to:

a. people who are out of work and have no job skills.
b. short periods of unemployment needed to match jobs and job seekers.
c. people who spend relatively long periods out of work.
d. unemployment related to the ups and downs of the business cycle.
ANSWER: b
DIFFICULTY: Easy
100. An example of frictional unemployment is a(n):

a. textile worker permanently laid off due to jobs lost to imports.
b. engineer permanently laid off due to advances in technology.

c. fast-food restaurant worker who quits work and attends college.
d. computer programmer who leaves one job and accepts a new job.
ANSWER: d
101. Which of the following people would be classified as fictionally unemployed?

a. Computer programmers who lost their jobs because of a recession.
b. Construction workers who are on temporary layoff.
c. Elementary school teachers who do not have summer jobs.
d. Textile workers who lost their jobs because of new foreign competition.
ANSWER: b
102. Frictional unemployment refers to:

a. unemployment related to the ups and downs of the business cycle.
b. workers who are between jobs.
c. people who spend relatively long periods out of work.
d. people who are out of work and have no job skills.
ANSWER: b
DIFFICULTY: Easy
103. If Sam Jackson voluntarily quits one job, possesses marketable skills, and expects to find a new job in a few weeks,
then Mr. Jackson is considered:
b. cyclically unemployed.
c. seasonally unemployed.
d. structurally unemployed.
e. unwise to quit his job without already having another one.
ANSWER: a
104. Workers who may be between jobs are considered:

c. cyclically unemployed.
d. unemployable.
e. discouraged workers.
ANSWER: a
DIFFICULTY: Easy
105. Unemployment caused by people voluntarily quitting work in order to seek more attractive employment is called:
a. the natural rate of unemployment.
b. full employment.
c. cyclical unemployment.
e. structural unemployment.
ANSWER: d
DIFFICULTY: Easy
106. Sharon was being treated unfairly by her boss, so she stormed off the job and two days later found another position.
For two days, Sharon experienced:
a. cyclical unemployment.
b. structural unemployment.
c. seasonal unemployment.
e. being out of the labor force.
ANSWER: d
107. Althea, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at
one of the top 10 universities in her field. The type of unemployment she is experiencing is:
a. frictional.
b. structural.
c. seasonal.
d. cyclical.
e. underemployment.
ANSWER: a
108. Which of the following offers an example of structural unemployment?

a. The rise in unemployment for stable workers after the development of gasoline-powered automobiles
and the resulting long-term decline in horse-and- buggy transportation.
b. The rise in unemployment among farm workers after harvest.
c. The unemployment associated with workers changing jobs.
d. The increase in unemployment during recessions.
ANSWER: a
109. A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings
results in:
a. frictional unemployment.
d. a higher labor force participation rate.
ANSWER: b
DIFFICULTY: Easy
110. When individuals are unemployed because they lack the qualifications to fill available jobs, this is called:
b. natural unemployment.
d. structural unemployment.
ANSWER: d
DIFFICULTY: Easy
111. Bob is unemployed because his skills have become obsolete due to technological advances. This is ____
unemployment.
a. frictional
b. structural
c. cyclical
d. abnormal
ANSWER: b
112. When people become unemployed because of a higher minimum wage, this type of unemployment is called:
a. frictional.
b. structural.
c. cyclical.
d. abnormal.
ANSWER: b
DIFFICULTY: Easy
113. Structural unemployment is unemployment caused by:

a. temporary changes in jobs.
b. discrimination.
c. the time required to match employers and workers.
d. a mismatch between worker skills and employer requirements.
ANSWER: d
DIFFICULTY: Easy
114. An example of structural unemployment is a(n):

a. textile worker who quits one job and waits for the new job to begin.
b. engineer permanently laid off due to advances in technology.
c. computer programmer who becomes rich and leaves the labor force.
d. All of these.
ANSWER: b
115. Unemployment that is caused by a mismatch of the demand for workers with certain skills and the skills of
unemployed workers is:
d. mismatch unemployment.
ANSWER: b
DIFFICULTY: Easy
116. Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of:
c. structural unemployment.
d. involuntary unemployment.
ANSWER: c
117. Louise is unemployed due to a decrease in the demand for workers with a knowledge of a certain word processing
language. This is an example of:
b. frictional unemployment.
c. involuntary unemployment.

ANSWER: d
118. Consider a broom factory that permanently closes because of foreign competition. If the broom factory's workers
cannot find new jobs because their skills are no longer marketable, then they are classified as:
a. seasonally unemployed.
b. frictionally unemployed.
c. structurally unemployed.
d. cyclically unemployed.
ANSWER: c
119. A mismatch of the skills of unemployed workers and the skills required for existing jobs is defined as:
a. involuntary unemployment.
ANSWER: c
DIFFICULTY: Easy
120. Unemployment that occurs from fundamental technological changes in the production, or from the substitution of
new goods for customary ones, is known as:
a. underemployment.
b. seasonal unemployment.
c. frictional unemployment.
e. cyclical unemployment.
ANSWER: d
DIFFICULTY: Easy
121. Unemployment that results from fundamental technological changes in production, or from the substitution of new
goods for customary ones, is:
a. the natural rate of unemployment.
b. full employment.
e. structural unemployment.
ANSWER: e

DIFFICULTY: Easy
122. Juanita earned a B.S. in engineering and went to work for a large defense contractor in a small town in California.
When the government cut spending, Juanita and 99 others were laid off. The only other business in the town is growing
grapes to be made into raisins, but the growers refuse to hire laid-off engineers, knowing they will leave at the first
opportunity. The unemployment Juanita is experiencing is:
a. cyclical.
b. structural.
c. permanent.
d. frictional.
e. voluntary.
ANSWER: b
123. Structural unemployment is frequently caused by:

a. technological changes that make certain job skills obsolete.
b. temporary layoffs in industries such as construction.
c. the impact of recessions on employment.
d. none of these.
ANSWER: a
DIFFICULTY: Easy
124. Susan Greenberg, who works in a typewriter factory, becomes unemployed because people start buying personal
computers instead of typewriters. Susan can best be described as:
c. cyclically unemployed.
d. not part of the labor force.
e. a discouraged worker.
ANSWER: b
125. Structural unemployment refers to unemployment resulting from:

a. technological change.
b. being in the wrong geographical location
c. taking the time to find the best job.
d. seasonal decreases in demand for labor.
e. a recession in the economy.
ANSWER: a
DIFFICULTY: Easy
126. Jamal (now age 54) lost his job. He has very specialized skills that are no longer in demand. Jamal's unemployment
is best classified as:
a. cyclical.
b. structural.
c. seasonal.
d. frictional.
e. voluntary.
ANSWER: b
127. Which type of unemployment is most closely connected with the saying "you can't teach an old dog new tricks"?
a. Cyclical.
b. Frictional.
c. Structural.
d. Voluntary.
e. Seasonal.
ANSWER: c
128. Which type of unemployment is experienced by a person who is laid off at an office because word processing
equipment and software reduce the need for typists?
a. Seasonal.
b. Cyclical.
c. Voluntary.
d. Structural.
e. Frictional.
ANSWER: d
129. The type of unemployment that occurs because of a recession is called:

b. seasonal unemployment.
c. natural unemployment.
d. cyclical unemployment.
ANSWER: d
DIFFICULTY: Easy
130. Cyclical unemployment is primarily caused by:

a. a large proportion of youthful workers in the labor force.
b. fluctuations in aggregate demand.
c. a lack of training on the part of job seekers.
d. the failure of job seekers to search adequately for the available jobs.
ANSWER: b
131. Cyclical unemployment is caused by:

a. shifts in the job skills required in the economy.
b. seasonal layoffs.
c. declines in real GDP.
d. cyclical changes in the job skills among workers.
ANSWER: c
DIFFICULTY: Easy
132. Eric lost his job because a recession caused his employer's sales to fall. This is an example of:
a. involuntary unemployment.
ANSWER: d
133. Sally lost her job when her company went out of business because of a recession. This is an example of:
d. technological unemployment.
ANSWER: c
134. Cyclical unemployment is caused by:

a. shifts in the structure of the economy.
b. seasonal layoffs.
c. declines in actual output below its full-employment level.
d. the absence of job skills among the unemployed.
ANSWER: c
135. An example of cyclical unemployment is a(n):

a. textile worker permanently laid off due to job lost to imports.
b. autoworker who is temporarily laid off due to a decline in demand for cars.
c. engineer permanently laid off due to advances in technology.
d. computer programmer who leaves one job and accepts a new job.
ANSWER: b
136. Unemployment caused by a recession is called:

c. involuntary unemployment.
d. cyclical unemployment
ANSWER: d
DIFFICULTY: Easy
137. Cyclical unemployment:

a. causes unemployment statistics to be understated.
b. causes unemployment statistics to be overstated.
c. occurs because of recessions.
d. occurs because of technological innovations in production.
e. only occurs with a zero inflation rate.
ANSWER: c
DIFFICULTY: Easy
138. It is difficult for cyclically unemployed individuals to find jobs because:

a. they do not meet the qualifications required for the available jobs.
b. the economy is in a recession.
c. they quit their last job and employers view them with suspicion.
d. they have not looked long enough to find a job.
ANSWER: b
DIFFICULTY: Easy
139. A decrease in aggregate demand and the subsequent cutbacks in production lead to:
c. cost-push unemployment.
e. transitory unemployment.
ANSWER: b
140. The increase in unemployment associated with a recession is called:

c. discouraged unemployment.
e. temporary unemployment.
ANSWER: d
DIFFICULTY: Easy
141. In an economic expansion, people used their charge cards to purchase many goods. Now the economy is in a
recession and people must use much of their reduced incomes to pay back debts. If employees manufacturing the goods
people used to buy are laid off, they will suffer from:
c. permanent unemployment.
e. underemployment.
ANSWER: a
DIFFICULTY: Challenging
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
142. Cyclical unemployment refers to unemployment resulting from:

a. a mismatch of skills.
b. being in the wrong geographical location.
c. the time and monetary cost of finding the best job.
d. a recession.
ANSWER: d
DIFFICULTY: Easy
143. When macroeconomics refers to “full employment,” what do they mean?
a. Full employment occurs when the unemployment rate equals zero.
b. Full employment occurs when there is only frictional unemployment, and all other types of
unemployment have been eliminated.
c. Full employment occurs when there is only structural unemployment, and all other types of
unemployment have been eliminated.
d. Full employment occurs when there is only frictional unemployment, structural, and cyclical
unemployment has been eliminated.
ANSWER: d
DIFFICULTY: Easy
TOPICS: The Goal of Full Employment
144. When full employment is present in the United States:

a. the rate of unemployment will fall to zero.
b. the actual rate of unemployment will be less than the natural rate of unemployment.
c. approximately 95 percent of the adult population will be employed.
d. approximately 95 percent of the labor force will be employed.
ANSWER: d
145. Full employment is the rate of employment that results when:

a. all the labor resources of the economy are employed full time.
b. cyclical unemployment has reached its maximum.
c. everybody who wants a job can find one.
d. only frictional and structural unemployment are present.
ANSWER: d
DIFFICULTY: Easy
146. Full employment means which of the following is zero?

a. structural unemployment
b. cyclical unemployment
c. frictional unemployment
d. aggregate unemployment
ANSWER: b
DIFFICULTY: Easy
147. When an economy is operating at its full employment rate of output:

a. the rate of unemployment will be zero.
b. output will exceed the economy's maximum sustainable rate.
c. the actual rate of unemployment will equal the natural rate.
d. the economy's potential rate of output will exceed actual GDP.
ANSWER: c
DIFFICULTY: Easy
148. The combination of frictional and structural unemployment is the:

a. cyclical rate of unemployment.
b. transitional rate of unemployment.
c. civilian rate of unemployment.
d. natural rate of unemployment.
ANSWER: d
DIFFICULTY: Easy
149. The natural rate of unemployment occurs if there is no:

a. unemployment.
ANSWER: d
DIFFICULTY: Easy
150. Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of:
a. structural and frictional unemployment.
b. cyclical and frictional unemployment.
c. structural and cyclical unemployment.
d. structural, frictional, and cyclical unemployment.
ANSWER: a
DIFFICULTY: Easy
151. The economy's natural rate of unemployment consists of:

a. structural plus frictional unemployment.
b. cyclical plus frictional unemployment.
c. structural plus cyclical unemployment.
d. structural, frictional, and cyclical unemployment.
ANSWER: a
152. Full employment occurs when the rate of unemployment consists of:
a. structural plus frictional unemployment.
b. cyclical plus frictional unemployment.
c. structural, frictional, and cyclical unemployment.
d. none of these.
ANSWER: a
153. The economy is fully employed when there is no:

a. seasonal unemployment.
ANSWER: d
DIFFICULTY: Easy
154. Which of the following statements is true?

a. The four phases of the business cycle, in order, are: peak, recovery, trough, recession.
b. When unemployment is rising then real GDP is rising.
c. The economic problem typically associated with a recovery is rising unemployment.
d. Full employment exists in an economy when the unemployment rate equals the sum of frictional, and
structural unemployment rates.
ANSWER: d
DIFFICULTY: Easy
155. When the rate of cyclical unemployment is zero, the:

a. natural rate of unemployment must also be zero.
b. rate of frictional unemployment must be negative.
c. economy must have entered a recessionary stage.
d. Keynesian aggregate supply curve must be horizontal.
e. economy is considered to be at full employment.
ANSWER: e
DIFFICULTY: Easy
156. The economy is considered to be at full employment when:

a. the actual rate of unemployment is less than the natural rate.
b. the leading economic indicators are unchanged for two consecutive quarters.

c. structural unemployment is zero.
d. frictional plus structural unemployment is less than the natural rate.
e. the rate of cyclical unemployment is zero.
ANSWER: e
DIFFICULTY: Easy
157. To what does the “GDP gap” refer?

a. The difference between real and nominal GDP.
b. The difference between this year’s real GDP and last year’s GDP.
c. The difference between “full-employment” real GDP and actual real GDP.
d. The difference between real GDP in the prior trough and real GDP in a current trough of the business
cycle.
ANSWER: c
DIFFICULTY: Easy
158. Which of the following demographic groups in the U.S. has the highest unemployment rates?
a. College graduates.
b. White working-age people.
c. African-American teenage males.
d. All working-age people with a high school diploma but no college.
ANSWER: c
DIFFICULTY: Easy
159. Actual GDP will be below potential GDP:

a. when the economy is at full employment.
b. during an economic boom.
c. when resources are fully utilized.
d. during a recession.
ANSWER: d
DIFFICULTY: Easy
160. Which of the following is true?

a. Frictional unemployment implies a lack of available jobs.
b. During a recession, cyclical unemployment will be low.
c. When an economy is at full employment, actual unemployment will be less than the natural rate of
unemployment.
d. When actual GDP equals potential GDP, the actual unemployment rate will equal the economy's natural rate
of unemployment.
ANSWER: d
DIFFICULTY: Easy
161. The GDP gap is the difference between:

a. frictional unemployment and actual real GDP.
b. unemployment rate and real GDP deflator.
c. actual real GDP and full-employment real GDP .
d. full-employment real GDP and real GDP deflator.
ANSWER: c
DIFFICULTY: Easy
162. Which of the following is true?

a. The GDP gap is the difference between actual real GDP and full-employment real GDP.
b. We desire economic growth because it increases the nation's standard of living.
c. Economic growth is measured by the annual percentage increase in a nation's real GDP.
d. Discouraged workers are a reason critics say the unemployment rate is understated.
e. All of these are true.
ANSWER: e
DIFFICULTY: Easy
163. The GDP gap is the difference between:

a. full-employment real GDP and real GDP chain price index.
b. unemployment rate and real GDP chain price index.
c. actual real GDP and full-employment real GDP.
d. frictional unemployment and actual real GDP.
ANSWER: c
DIFFICULTY: Easy
164. Of the four groups listed below, the highest unemployment rate is typically experienced by:
a. females as a group.
b. males as a group.
c. teenagers.
d. persons who completed 1-3 years of high school.
ANSWER: c
DIFFICULTY: Easy

165. The business cycle is the periodic but recurrent fluctuations in real GDP.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
166. A principal cause of the business cycle is the changes in total spending that occur in the overall economy.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
167. The four phases of a single business cycle are, in order, the trough, followed by a recovery, then a recession, ending
with a peak.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
168. Recovery is the phase of the business cycle during which real GDP reaches its maximum.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
169. The government's chief forecasting gauge for business cycles is the chained real GDP indicators.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
170. Business cycles vary greatly in duration and intensity.

a. True
b. False
ANSWER: True
DIFFICULTY: Easy
171. Business cycles are recurring periods of economic growth and decline in an economy's real GDP.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
172. The term "recovery" refers to the maximum point of the business cycle.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
173. A principal cause of the business cycle is the changes in total spending that occur in the overall economy.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
174. The government's main statistic for forecasting business cycles is the index of coincident indicators.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
175. The duration of unemployment is not a leading indicator.

a. True
b. False
ANSWER: True
DIFFICULTY: Easy
176. Industrial production is not a coincident indicator.

a. True
b. False
ANSWER: True
DIFFICULTY: Easy
177. The prime rate is a lagging indicator.

a. True
b. False
ANSWER: True
DIFFICULTY: Easy
178. The civilian labor force includes only the employed.

a. True
b. False
ANSWER: False
DIFFICULTY: Easy
179. The civilian labor force excludes anyone not actively seeking a job.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
180. The unemployment rate is the percentage of the civilian labor force that is unemployed but actively seeking work.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
181. Any adult who does not have a job is counted as unemployed.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
182. In the United States, the unemployment rate for blacks is roughly the same as the unemployment rate for whites.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
183. Part-time workers who want full-time work are counted as only partially employed in the official unemployment
statistic.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
184. In the United States, the unemployment rate for women is roughly the same as the unemployment rate for men.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
185. The official unemployment rate can be criticized for both understating and overstating the true number of
unemployed.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
186. To be counted as unemployed, a person must be looking for a job.

a. True
b. False
ANSWER: True
DIFFICULTY: Easy
187. A person who has lost his or her job because it is now performed by a robot is structurally unemployed.
a. True
b. False
ANSWER: True
188. Structural unemployment refers to short periods of unemployment needed to match jobs and job seekers.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
189. Structural unemployment is a special type of cyclical unemployment.

a. True
b. False
ANSWER: False
DIFFICULTY: Easy
190. When actual real GDP output is below full-employment real GDP, the GDP measures the cost of cyclical
unemployment.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
191. The economic cost of unemployment is the loss of potential output which can never be realized.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
TOPICS: Nonmonetary and Demographic Consequences of Unemployment
192. A major goal of federal government policy is to eliminate frictional unemployment.

a. True
b. False
ANSWER: False
193. Structural unemployment results from a lack of education and training.

a. True
b. False
ANSWER: True
DIFFICULTY: Easy

194. Cyclical unemployment is the result of the business cycle.

a. True
b. False
ANSWER: True
DIFFICULTY: Easy
195. The natural rate of unemployment exists when cyclical unemployment equals zero.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
196. Full employment, which is always expected to occur, consists of the frictionally and cyclically unemployed.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
197. What generally causes the business cycle? What are the four phases of a single business cycle? What are the
problems associated with the business cycle?
ANSWER: Changes in total spending (aggregate demand) are what generally cause changes in the
business cycle. The four phases of a single business cycle is a peak, recession, trough and
an expansion. The problems associated with a recession are cyclical unemployment and
slow growth. The problem with an expanding economy is (demand-pull) inflation.
198. What is full employment? What are the different kinds of unemployment? What constitutes the natural (normal) rate
of unemployment?
ANSWER: Full employment exists when approximately 95 percent of the civilian labor force is
employed. This implies a natural rate of unemployment of approximately 5 percent. The
natural rate of unemployment consists of the frictionally and structurally unemployed. The
only other type of unemployment is cyclical unemployment.
199. What does the GDP gap measure?

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Satsuma
saturated
Saturday
saturnalia
sauntering
sausage
sausages
Sauter
sauve
savage
savagely
savagery
savages
Save
saved
Savile
saving
Savings
Saviour
Savornin
savour
Savoy
saw
sawed
Sawyer
Saxe
Saxon
Saxony
say
Sayce
saying
sayings
says
Scadding
scaffolding
scale
scaled
scaling
scalping
scamped
Scandal
scandalized
scandalous
scandals
Scandinavia
Scandinavian
scant
scanty
scar
scarce
scarcely
scarcity
scare
scarlatina
scarlet
scathing
scats
scatter
scattered
scattereth
scattering
scatters
scene
scenery
scenes
scenic
scent
scepticism
sceptics
sceptre
Schaeffer
Schalk
Schedule
schedules
Scheil
scheme
schemes
scheming
Schenectady
Scheurer
Schillingsfürst
Schleswig
Schley
Schliemann
scholar
scholarly
scholars
scholarship
scholastic
Schomburgk
Schonborn
school
schoolboys
schoolfellows
schoolhouse
schoolhouses
schooling
schoolmaster
schoolroom
schoolrooms
schools
schooner
Schrader
SCHREINER
Schumann
Schurman
Schuur
Schwan
Schwarzkoppen
Schwerin
Schönerer
sciemment
science
sciences
SCIENTIFIC
scientifically
Scientifique
scientist
scientists
Scimetar
Scoble
scoldings
Scope
scorching
score
scores
scorn
scorned
Scotch
scotched
Scotia
Scotland
Scott
Scottish
scoured
scourge
scourged
scouring
scouts
scramble
scrambling
scrap
scraper
scratch
screen
screened
screw
Scribner
script
scripts
scrolls
scrupled
scrupulous
scrupulously
scrutinize
sculptor
sculptors
sculptural
sculpture
sculptures
scum
scuttered
Scythian
Se
sea
seaboard
seaboards
seacoast
seacoasts
Seagoing
seal
sealed
sealer
sealers
sealing
seals
sealskins
seamed
Seamen
seams
seaport
seaports
sear
search
searched
searches
searching
seas
seashore
season
seasons
Seat
seated
seating
seats
Seattle
Seaver
seaward
seawards
Sebastian
seceded
Secession
secessions
seclusion
Second
secondary
seconder
Secondly
secrecy
Secret
Secretariate
secretaries
Secretary
Secretaryship
secretion
secretly
secrets
secrète
sect
sectarian
sectarianism
Section
sectional
Sectionalism
Sections
sects
secular
Secularist
Secularists
secundus
secure
secured
securely
secures
securing
securities
security
Sedalia
Sedan
Seddon
sedentary
Sedition
seditionary
seditious
seduce
seduction
seductive
sedulously
see
Seebohm
seed
seeds
Seeing
seek
seekers
seeking
seeks
Seeley
seem
seemed
seeming
seems
seen
sees
seething
Segan
segment
segregated
segregation
Seguin
Seidl
Seine
seised
Seiyu
Seiyukai
seize
seized
seizing
seizure
seizures
Selborne
seldom
select
Selected
selecting
selection
selections
selector
selects
self
selfish
selfishness
Selkirk
sell
seller
Sellers
selling
sells
semblance
Semerara
semi
semibarbarous
semicircle
seminaries
seminary
Seminole
SEMINOLES
Semite
SEMITES
Semitic
Semitised
Semitism
senate
senator
senatorial
Senators
sence
send
sending
sends
Seneca
Senefern
SENEGAL
Senegalese
Senegambia
Senior
seniority
Sennacherib
Senor
SENOUSSI
sensation
Sensational
sensations
sense
senseless
sensibilities
sensible
sensibly
sensitive
sensitiveness
sent
sentence
sentenced
sentences
sentiment
sentimental
sentimentality
sentiments
sentinel
sentinelled
sentinels
sentries
sentry
Seoul
separate
separated
separately
separates
Separating
Separation
Sephardists
September
sepulchers
sepulchre
sequel
sequence
sequences
Sequeros
Serapeion
Serbs
Serene
serenity
serfdom
serfs
Sergeant
sergeants
series
Serious
seriously
seriousness
Serjeant
Serjeants
sermon
Serpa
serried
serum
servant
servants
serve
served
serves
Servia
Servian
SERVICE
serviceable
services
serving
servir
servitude
servitudes
serviçal
Seslien
session
Sessions
set
Seth
Sethos
Seti
sets
setting
settings
settle
settled
settlement
settlements
settler
settlers
settles
settling
Seven
seventeen
seventeenth
Seventh
Seventhly
seventies
seventieth
seventy
sever
Several
severally
SEVERALTY
severance
Severe
severed
severely
severest
severing
severity
Sevilla
Seville
sewage
Sewall
Seward
sewed
Sewerage
sewered
sewers
sewing
sex
Sexennate
sexes
Sextant
Sexton
sexually
Seymour
Seyyidieh
Señor
Señorita
Señors
Sfax
sha
shabbiness
shackle
shade
shades
shadow
shadowed
shadows
shaft
Shafter
shafts
Shah
Shahuo
shake
shaken
Shakespeare
shaking
Shakir
shall
shallow
shallowness
shallows
shalt
sham
shambles
shame
shamed
Shameful
shamefully
Shamrock
Shan
Shang
Shanghae
Shanghai
Shanghaikuan
Shanhai
Shanhaikuan
Shanhaikwan
Shankaikuan
Shansi
Shantung
Shao
shape
shaped
shaping
sharaki
share
shared
shareholders
shares
sharing
Sharon
sharp
Sharpe
sharper
sharpest
sharply
sharpshooters
Shashih
Shatt
shattered
Shattuck
Shaw
Shawneetown
shaykhs
She
shear
shed
shedding
sheds
sheep
sheer
sheet
sheets
Sheik
Sheikh
Sheiks
Shelby
Sheldon
Shell
Shelled
shelling
shells
shelter
sheltered
shelters
shelved
shelves
shelving
Shen
Sheng
Shenking
Shensi
shepherds
Sher
Sheriff
sheriffs
Sherman

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Microeconomics For Today 9th Edition

Tucker Test Bank

2. How do we measure economic growth?

8. Economists usually use the term "recession" to refer to:

10. A business cycle is the:

14. As a general rule, a recession is a decline in real GDP lasting at least:

17. A business cycle is the period of time in which:

19. The ____ phase of the business cycle follows a recession.

21. A long and deep recession in the business cycle is:

Cengage Learning Testing, Powered by Cognero Page 5

24. In Exhibit 6-1, point E represents:

29. A general rule is that economy is experiencing a recession when:

33. Which of the following is a leading business cycle indicator?

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39. Which of the following is not a coincident indicator?

40. Which of the following is a lagging indicator?

41. Which of the following is not a lagging indicator?

43. Which one of the following persons would be considered unemployed?

45. The civilian labor force consists of:

46. Retired persons are officially classified as:

54. The civilian labor force consists of all the:

55. Which of the following people is counted in the labor force?

59. Which of the following is not a way to become officially unemployed?

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63. The unemployment rate equals the number of persons:

64. In a dynamic economy under ideal conditions:

66. Which of the following groups of people are counted as employed?

67. The unemployment rate measures the percentage of:

68. One problem with the unemployment rate is that:

69. Which of the following people would be officially counted as unemployed?

71. A criticism of the unemployment rate is that:

73. The unemployment rate is the percentage of the:

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Exhibit 6-2 Unemployment categories

77. The unemployment rate will increase whenever there is a(n):

80. The unemployment rate will decrease whenever there is a(n):

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Exhibit 6-3 Unemployment categories

83. A person who has given up searching for work is called:

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90. The presence of discouraged workers may cause:

91. A discouraged worker is one who:

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95. Which of the following offers an example of frictional unemployment?

96. The primary cause of frictional unemployment is:

99. Frictional unemployment refers to:

100. An example of frictional unemployment is a(n):

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101. Which of the following people would be classified as fictionally unemployed?

102. Frictional unemployment refers to:

104. Workers who may be between jobs are considered:

108. Which of the following offers an example of structural unemployment?

113. Structural unemployment is unemployment caused by:

114. An example of structural unemployment is a(n):

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123. Structural unemployment is frequently caused by:

125. Structural unemployment refers to unemployment resulting from:

129. The type of unemployment that occurs because of a recession is called:

130. Cyclical unemployment is primarily caused by:

131. Cyclical unemployment is caused by: