16. C. Consumer price index D. Core price index 8. The DIIA [Dow Jones Industria
ID: 1115483 • Letter: 1
Question
16.C. Consumer price index D. Core price index 8. The DIIA [Dow Jones Industrial Average] in the early November 2017, ranges: a) 21,500-22,000. b) 22,000 -22,500 e) 22,500 -23,000 d) 23,000 23,500 9. Kathryn chooses to go to college full-time rather than to work. Kathryn: a) b) is part of the labor force, but not actively seeking work. c) is considered employed d) is not part of the labor force. is part of the labor force and what economists call a discouraged worker 10. Hometown, USA, has adult population of 120,000, labor force of 85,000 persons and employment of 75.000. The unemployment rate for the city is: a) 6.25 percent. b) 7.55 percent. c) 10.0 percent d) 1.8 percent. 11. The labor force participation rate for the above question is a) 50 percent. b) 60 percent 71 percent. d) 80 percent 12. The role for CPI does not include: a) converting nominal income to real income. b) updating the amount of paycheck to match the purchasing power of the previous c) measuring price level for each year d) reducing the statistics for unemployment rate. 13. A person who is not employed and is not trying to find a job a. is counted as out of the labor force but should be counted as unemployed b. is counted as unemployed but should be counted as out of the labor force. c. is correctly counted as out of the labor force d. is correctly counted as unemployed 14. If the GDP of the US increases by 5% in 2004, you expect, according to the Ok n's law, that the unemployment rate: decreases by 1% b, decreases by 1.5% , increases by 3% d. remains unchanged 15. The outcome for 2016 Presidential Election might be heavily affected by: a. housewives b. retirees c single mothers d. discouraged workers 16. The price index used to deflate nominal GDP is called: a GDP deflator b. Producer price index.
Explanation / Answer
8. d
9.d. Kathryn is a student and is not considered to be part of labor force.
10. d
Unemployment Rate = (Number of Unemployed / Labor Force) * 100
Employed persons =75,000
Labor Force = 85,000
Unemployed persons = 85,000 - 75,000 = 10,000, since labor force is unemployed plus employed persons.
Unemployment rate = (10000/85000)*100
=11.76% or 11.8%
11. C
Labor Force participation rate
Labor Force Participation Rate is calculated by dividing the number of people in the civilian labor force by the total civilian population of those 16 years old or older
Labor Force = 85,000
Adult population = 120,000
Labor force participation = (85,000/120,000)x 100 =70.83% or 71%
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