Chapter 10 Flashcards
Junior Ozark dressed for a job interviews in bib overalls, a red lumberjack shirt, and torn basketball sneakers. He has been looking for a job as an investment banker ever since he dropped out of high school. He is now 46 years old and has never had a job. Mr. Ozark is,,,,,,,,,,, unemployed.
Structurally
Troughs occur
At the bottom of a business cycle
The recovery phase of the business cycle ends when
We retain the level of the previous peek
If the number of unemployed stays the same and the number of people in the labor force declines.
The unemployment rate will rise.
The longest expansion since records have been kept in
March 1991
An example of this inflation would be when the annual inflation rate went from
8% to 4%
We have business cycles of
Different links and amplitudes
A person who is not work in six months and has given up looking for work is officially classified as
Discouraged
Which is true? Both the liberals and conservatives feel that official unemployment rate is too high, both liberals and conservatives feel the official unemployment rate is too low, the Liberals believe that the official unemployment rate is too high in the conservatives feel it’s too low or none of the statements are true
None of the statements are true
Inflation generally occurs
In wartime
Traditionally those hurt by inflation have been
Creditors and people on fixed incomes
Farmers have generally been,,,,,,,,, by inflation.
Helped
Inflation is
The rise in average price levels
In 1973 the OPEC countries
Quadruple the price of oil
Which ordering is correct.
Recession recovery prosperity
Which is the most accurate statement?
Business cycle forecasting dates back to biblical times.
Most post-World War II recessions lasted less than
One year
Which statement is true about the rate of inflation?
It was higher at the beginning of the 1980s band at the end of the 1980s
A high school dropout with poor work habits, little experience, and no vocational training who has been out of work for three years but is actively seeking employment, would be,,,,,,,,,,,,,, unemployed.
Structurally
Which statement is true about the rate of inflation?
It was higher in the 1970s been in the 1960s
If CPI is currently 296.3 and the base year is 1967, how much was the CP I in 1967.
100
Each of the following people would be heard by anticipated inflation except
Debtors
When looking at a graph where ex is at the middle of the increase what phase of the business is this
Recovery
When looking at a graph where why is at the top of the line what phase of the business cycle is this
Prosperity
H Ross Perlmutter is a crackerjack sales person. He could probably sell anything to anyone. The company he works for goes out of business. Until he finds a new position, Mr. Perlmutter is,,,,,,,,,, unemployed.
Frictionally
