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BEBS EXAM QUESTIONS AND VERIFIED ANSWERS
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BEBS EXAM QUESTIONS AND VERIFIEDANSWERS
The _______ is the total number of people aged 16 years and older (and
not in jail, hospital or institutional care) while the _________ is the
number of people employed and the unemployed - ANSWER Working-
age population; Labor force
Total population: 20,000
Working-age population: 15,000
Employment: 1,000
Unemployment: 100
The unemployment rate for this simple economy equal - ANSWER
(100/1,100) x 100
Since 1948, the labor force participation rate for adult men has ______
and for adult women has _________ - ANSWER Decreased; Increased
Total population: 20,000
Working-age population: 15,000
Employment: 1,000
Unemployment: 100
The labor force participation rate for this simple economy equals -
ANSWER (1,100/20,000) x 100
The advice to "keep searching, there are plenty of jobs around here for
which you are qualified," would be most appropriate for which of the
following types of unemployment - ANSWER Frictional unemployment
Which of the following causes the unemployment rate to understate the
true extent of joblessness - ANSWER Discouraged workers are not
counted as unemployed
, The economy is in a recession and the housing market is in a slump. As
a result of this, a real estate firm lays off half of its real estate agents.
This is an example of - ANSWER Cyclical unemployment
People who lost their jobs as hand-drawn animators because of the
popularity of computer-generated 3D animation are examples of persons
who are suffering - ANSWER Structural unemployment
Which of the following policies would reduce structural unemployment -
ANSWER A job retraining program
The United States has _____ social insurance programs, and generally
has a ______ unemployment rate, as compared to Canada and Western
Europe - ANSWER Less generous; Greater
When the level of unemployment in the economy is at its natural or
target rate, the economy is at its potential level of output or production.
The natural (or target) of unemployment is made up of - ANSWER
Frictional and structural unemployment
Estimates for the natural (or target) rate of unemployment in the United
States range from - ANSWER 4% to 6%
Inflation is an increase in - ANSWER The overall price level
The consumer price index (CPI) - ANSWER Compares the cost in the
current period to the cost in a reference base period of a basket of
goods typically consumed in the base period
In the CPI market basket, the category which has the largest weight is -
ANSWER Housing
A consumer price index of 160 in 1996 with a base year of 1982-1984
would mean that the cost of the market basket - ANSWER Rose 60%
from the cost of the market basket in the base year
The substitution bias in the consumer price index refers to the idea that
consumers _____ the quantity of products they buy in response to price,
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