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Module 5 Problem Sets

Principles of Economics
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Date:

Question #1

To find the number of people in the labor force we need to add the ________________________ and the ___________________________.
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Question #2

To find the unemployment rate we need to divide the __________________ by the _______________________.
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Question #3

This misery index is found by adding the ______________________ and the __________________.
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Question #4

Compute the unemployment rate given the following information: 8 million unemployed and 117 million employed.
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Question #5

How much would the nominal interest rate be if the real interest rate were 6-percent and the expected rate of inflation were 7-percent?
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Question #6

If the CPI is currently 178.9, by what percentage did prices rise since the base year?
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Question #7

If the rate of inflation is 5-percent, the prime rate of interest is 6-percent, and the unemployment rate is 7-percent, how much is the misery index?
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Question #8

If the CPI fell from 180 to 150, by what percentage did the price level fall?
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Question #9

If the unemployment rate is 10-percent, there are 150 million people in the labor force, and there are 5 million discouraged workers, how many people are unemployed?
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Question #10

If the unemployment rate is 10-percent and 90 million people are working, how many people are unemployed?
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Question #11

What are the four types of unemployment?
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Question #12

What are the four causes of unemployment?
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Question #13

Natural Unemployment = ________________________ + ____________________________________.
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Question #14

What type of unemployment describes workers who have mismatched job skills?
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Question #15

What type of unemployment results when our economy contracts?
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