Which of the following is false? The unemployment rate is the number of people o

Question

Which of the following is false? The unemployment rate is the number of people officially unemployed divided by the civilian labor force The labor force includes those people over the age of 14 who are either employed or unemployed Discouraged workers, who have not actively sought work for four weeks are not counted as unemployed; instead they fall out of the labor force People working part time jobs are considered to be underemployed Nominal GDP has risen faster than real GDP in the last decade because The price level has decreased The growth rate of productivity has accelerated The price level has increased The volume of foreign trade has expanded sharply Inability to account for improvements in quality reduces the validity of in reflecting The consumer price index; price levels Money supply: inflation The unemployment rate; inflation Gross domestic product; price levels The existence of discouraged workers: Increases the size of the labor force, but does not affect the unemployment rate. Affects neither the size of the labor force nor the unemployment rate. May cause the official unemployment rate to overstate the true amount of unemployment. May cause the official unemployment rate to understate the true amount of unemployment. Which of the following will lead to GDP underestimating our true output? Juan volunteers his time to the development of open source software Paul is a stay-at-home-dad Cici sells illegal drugs on the black market All of the above. Which of the following factors contribute to economic growth? Growth in physical capital Technological advances An increase in the productivity of labor all of the above

Explanation / Answer

5)b) the labor force includes those people over the age of 14 who are either employed or unemployed.

6) c) price level has increased

7)D) GDP;price level

8)d) may cause the official unemployment rate to understate the true amount of unemployment

9) all of the above

10) all of the above

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