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- Recent economic news includes: a. . Grocery prices falling to the lowest level since before the pandemic b. the unemployment rate continuing to be fairly steady at a narrow range c. Home mortgage rates falling d. the Fed decreasing interest rates e. Oil prices falling to the lowest level in yearsQUESTION 9 Is it possible for the unemployment rate to go down while the number of unemployed workers increases? Yes, if the labor force participation rate increases sufficiently Yes, if the working age population grows sufficiently No since unemployment is always bad for the economy Yes, if discouraged workers reenter the labor force to fill job openings in sufficient numbers No, any increase in the number of unemployed will result in an increase in the unemployment rate Yes, if the labor force participation rate decreases sufficientlyA significant, sustained rise in oil prices lowers the unemployment rate's natural rate. True False
- Question: Demand-pull inflation occurs when: A) Costs of production decrease B) Aggregate demand exceeds aggregate supply C) Consumer savings increase D) Government spending decreasesQUESTION 38 The unemployment rate that would result from the combination of economic, social, and political factors that exist at a time—assuming the economy was neither booming nor in recession is called; A. Cyclical unemployment B. Natural rate of unemployment C. Structural unemployment D. Frictional unemploymentBell-land's economy had an unemployment rate of 3% then the economy went into a recession and the growth rate decreased by 3%. What will happen to the unemployment rate? Group of answer choices It will increase to 4% It will increase to 6% It will decrease to 1% It will not change.
- Q24 The natural rate of unemployment is generally assumed to be Select one: a. the rate of unemployment at which the expected inflation rate is zero b. the rate of unemployment at which the expected inflation rate is equal to the actual inflation rate c. the rate of unemployment at which the actual inflation rate is zero d. very close to zero percent since everyone who wants to work is already workingAn unexpected increase in aggregate demand causes A. the unemployment rate to fall, with no change in the price level. B. simultaneously the price level to fall and the unemployment rate to fall. C. simultaneously the price level to rise and the unemployment rate to fall. D. the price level to rise, but the duration of unemployment will remain constant, so the unemployment rate remains constant.A worldwide drought has reduced food production. Inflation has increased, unemployment has risen above the natural rate, Pakistani’s are frustrated with their government. Your roommate says, "This economic mess has got to be somebody's fault—probably the Prime Minister or National Assembly. A year ago, both inflation and unemployment were lower. We need to vote in some policymakers that know how to get rid of this inflation and unemployment." a. If policymakers increase aggregate demand in response to the supply shock, in what direction will the economy move along the new short-run Phillips curve? What will happen to inflation and unemployment? b. Is there a policy that can immediately reduce both inflation and unemployment? Explain.
- In 1986, OPEC countries increased their production of oil. This caused the price level to rise. aggregate supply to shift right. unemployment to rise. None of the above is correct.Which of the following events is likely to increase unemployment and drive the price level down? Select one: a. The U.S. government lowering income and corporate taxes b. Strong economic growth in Mexico, one of our largest trade partners c. The Fed reducing the supply of money through an open market operations d. An increase in the price of fuel due to rising demand from India and China e. A rise in minimum wage
