Shocks that can cause business cycles include all of the following EXCEPT: a. pr
ID: 1204081 • Letter: S
Question
Shocks that can cause business cycles include all of the following EXCEPT: a. productivity changes b. regular innovation c. financial instability d. political events 40. Which one of the following is associated with insufficient demand for goods & services? a. seasonal unemployment b. structural unemployment c. cyclical unemployment d. fractional employment. 41. In the United States, the economy is considered to be at full employment when: a. about 4- 5% of the total population is unemployed b. about 4- 5% of the labor force is unemployed c. 100% of the labor force is employed d. 90% of the labor force is employed. 42. After resigning her regular job to finish a college degree, Nancy now again is searching for management position, so she is presently: a. frictionally unemployed b. cyclically unemployed c. structurally unemployed d. not a member of the labor force. 43. People who are yet unemployed, but have stopped looking for work can be termed as: a. discouraged worker b. frictionally unemployed c. lazy worker d. all of these. 44. The natural rate of unemployment is the: a. unemployment rate at the bottom of depression b. unemployment rate of least skilled workers c. full employment unemployment rate d. unemployment rate of most skilled workers. 45. David has lost job in a steel plant because of foreign competition and intends to take some electronic courses in expectations of a new job; he is faced with: a. seasonal unemployment b. cyclical unemployment c. frictional unemployment d. structural unemployment. 46. Cyclical unemployment results from: a. a deficiency of aggregate demand b. workers voluntarily changing jobs in a free labor market c. increasing importance of services and decreasing importance of goods in the U.S. d. technological changcs. 47. Suppose there are 10 million part time workers and 90 million full time workers and after two months, five million of part time workers become full time workers, as a result: a. official unemployment rate will fall b. official unemployment rate will remain unchanged c. official unemployment rate will rise d. size of labor force will increase. 48. The GDP gap measures the difference between: a. NDP and GDP b. National income & personal income c. actual GDP & potential GDP d. nominal GDP and real GDP. 49. For every 1% increase in the unemployment rate the real GDP declines by 2%, it is known as: a. Case Theorem b. Potential GDP c. stagflation d. Okun's Law 50. Cost-of-living adjustment clauses (COLAs): a. are the same as "rule of 70" b. apply to only demand pull inflation c. increase the gap between real and nominal income d. tie wage increases to changes in price level.Explanation / Answer
39. Polittical Events
40. Cyclical Unemploynment
41 B. 4-5 of Labour force unemployed
42.A frictionally unemployed
43
44. C. Full employnment unemploynment rate
45 Structural Unemploynment
46 A. Deficiency of Aggrgate Demand
47 Official Unemplonment rate remaind unchanged
48 c Actual and Potential GDP
49 D. Okun'd Law
50 D. Ties wage increase to changes in price Level .
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