Question

Question 31

If the G is greater than T the result is

Group of answer choices

A Deficit

A Surplus

Can't tell

No change

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Question 32

Fiscal Policy

Group of answer choices

Has no impact on the Deficit

Involves Taxing and Spending

Is conducted by the central bank of the US

Is only used to control inflation

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Question 33

Contractionary Fiscal Policy

Group of answer choices

Is occuring right now

Involves Spending but not Taxing

Involves Taxing but not Spending

Is hardly ever used if ever

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Question 34

If there are 600 people in the population, with 75 of them under the age of sixteen and another 150 of them who are too old to work and are retired. Of the remaining 375 people, 75 of them had been looking for jobs but have given up looking. 45 of them are working part time but would like to work full time. 30 of them are not working but would like to have a job.

How many people are in the labor force?

Group of answer choices

270

375

600

300

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Question 35

If there are 600 people in the population, with 75 of them under the age of sixteen and another 150 of them who are too old to work and are retired. Of the remaining 375 people, 75 of them had been looking for jobs but have given up looking. 45 of them are working part time but would like to work full time. 30 of them are not working but would like to have a job.

How many are discouraged workers?

Group of answer choices

150

30

45

75

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Question 36

If there are 600 people in the population, with 75 of them under the age of sixteen and another 150 of them who are too old to work and are retired. Of the remaining 375 people, 75 of them had been looking for jobs but have given up looking. 45 of them are working part time but would like to work full time. 30 of them are not working but would like to have a job.

What is the unemployment Rate?

Group of answer choices

10%

8%

11.1%

5%

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Question 37

If the CPI is 100 in 2010, 105 in 2011 and 112 in 2012, what is the inflation rate between 2010 and 2011?

Group of answer choices

6.67%

0%

5%

12%

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Question 38

If the CPI is 100 in 2010, 105 in 2011 and 112 in 2012, what is the inflation rate between 2011 and 2012

Group of answer choices

12%

6.67%

10%

7%

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Question 39

Cyclical Unemployment

Group of answer choices

is due to moving

is due to a mismatch between jobs and skills

is due to not having a job at the same time each year

is due to a downturn in the economy

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Question 40

Structural Unemployment

Group of answer choices

is due to not having a job at the same time each year

is due to a mismatch between jobs and skills

is the result of moving

is due to a downturn in the economy

Answer 1

Question 31

If the G is greater than T the result is

Group of answer choices

A Deficit

A Surplus

Can't tell

No change

Solution: G is government spending and T is taxes. When a government spends more than it collects in taxes, it is said to have a budget deficit.

So first option Deficit is correct.

Question 32

Fiscal Policy

Group of answer choices

Has no impact on the Deficit

Involves Taxing and Spending

Is conducted by the central bank of the US

Is only used to control inflation

Solution: Fiscal policy is used by government to adjust its spending levels and tax rates to monitor and influence a nation's economy. It is used to influence economic conditions like aggregate demand for goods and services, employment, inflation, and economic growth. So second option: involves taxing and spending is correct option.

Question 33

Contractionary Fiscal Policy

Group of answer choices

Is occuring right now

Involves Spending but not Taxing

Involves Taxing but not Spending

Is hardly ever used if ever

Solution: Governments engage in contractionary fiscal policy by raising taxes or reducing government spending. It is used to fight inflationary pressures. So third option: Involves taxing but not spending is correct option.

Question 34

If there are 600 people in the population, with 75 of them under the age of sixteen and another 150 of them who are too old to work and are retired. Of the remaining 375 people, 75 of them had been looking for jobs but have given up looking. 45 of them are working part time but would like to work full time. 30 of them are not working but would like to have a job.

How many people are in the labor force?

Group of answer choices

270

375

600

300

Solution: The labor force is the number of people who are employed plus the unemployed who are looking for work. The labor pool does not include the jobless who aren't looking for work and those who are retired or are under the age of 16.

Of the remaining 375 people, 75 of them had been looking for jobs but have given up looking. So left over people= 375-75 = 300. So labor force = 300.

As 45 of them are working part time but would like to work full time. 30 of them are not working but would like to have a job. So they are included in labor force.

So fourth option is correct option: 300.

: 300.

Question 35

If there are 600 people in the population, with 75 of them under the age of sixteen and another 150 of them who are too old to work and are retired. Of the remaining 375 people, 75 of them had been looking for jobs but have given up looking. 45 of them are working part time but would like to work full time. 30 of them are not working but would like to have a job.

How many are discouraged workers?

Group of answer choices

150

30

45

75

Solution: Discouraged workers are those workers who had been looking for jobs but have given up looking. In this question discouraged workers = 75.

So fourth option is correct option: 75.

Question 36

If there are 600 people in the population, with 75 of them under the age of sixteen and another 150 of them who are too old to work and are retired. Of the remaining 375 people, 75 of them had been looking for jobs but have given up looking. 45 of them are working part time but would like to work full time. 30 of them are not working but would like to have a job.

What is the unemployment Rate?

Group of answer choices

10%

8%

11.1%

5%

Solution: Unemployed are those who are out of work and who are actively looking for a job. Unemployment rate is calculated by dividing the number of unemployed people by the total number in the labor force, then multiplying by 100.

As calculated above Labor Force = 300.

It is given that 30 of them are not working but would like to have a job. Unemployed people= 30.

Unemployment rate=             =     = 10%

So first option 10% is correct.

Question 37

If the CPI is 100 in 2010, 105 in 2011 and 112 in 2012, what is the inflation rate between 2010 and 2011?

Group of answer choices

6.67%

0%

5%

12%

Solution: Inflation rate between 2010 and 2011=

=       = 5%

So third option 5% is correct.

Question 38

If the CPI is 100 in 2010, 105 in 2011 and 112 in 2012, what is the inflation rate between 2011 and 2012

Group of answer choices

12%

6.67%

10%

7%

Solution: Inflation rate between 2011 and 2012 =

                                                                                       = = 6.67%

So second option 6.67% is correct.

Question 39

Cyclical Unemployment

Group of answer choices

is due to moving

is due to a mismatch between jobs and skills

is due to not having a job at the same time each year

is due to a downturn in the economy

Solution: Cyclical unemployment is caused by a downturn in the business cycle. It's part of the natural rise and fall of economic growth that occurs over time.

So fourth option is due to a downturn in the economy is correct.

Question 40

Structural Unemployment

Group of answer choices

is due to not having a job at the same time each year

is due to a mismatch between jobs and skills

is the result of moving

is due to a downturn in the economy

Solution: Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers.

So second option is is due to a mismatch between jobs and skills is correct.