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ECON 200 Exam Solved Correctly To Score A+
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ECON 200 Exam Solved Correctly To Score A+
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ECON 200 Exam Solved Correctly ToScore A+
Jorge is a highly qualified worker who is unemployed but looking for work. His
expertise is in a small field and new jobs only open up sporadically. While he is waiting
for one of those openings he is considered: CORRECT ANSWERS frictionally
unemployed
The official unemployment rate (U-3) reported by the government makes the
unemployment situation in the country look ______________ compared to the
alternative
measures. CORRECT ANSWERS much lower
One of the problems in measuring inflation over time is that: CORRECT ANSWERS
changes in consumption patterns and innovations make comparisons across years
problematic
If an economy is experiencing cost-push inflation what will happen to prices and
economic output? CORRECT ANSWERS prices will rise and output will fall
Which of these films is the most successful film in box office history in real terms?
CORRECT ANSWERS Gone with the Wind
If inflation is a general rise in the price level, why have consumer electronics prices
fallen over time? CORRECT ANSWERS Increases in technology have greatly lowered
the production costs for these goods.
Inflation is best defined as: CORRECT ANSWERS a sustained increase in the average
of all prices of goods and services in an economy
If an economy is experiencing demand-pull inflation what will happen to prices and
economic output? CORRECT ANSWERS Prices and output will both increase.
The government computes the CPI each month. Which answer best reflects the
importance of this number? CORRECT ANSWERS The CPI data is "old" news,
alternative daily measures of inflation exist that are
reliable.
Which of the following is NOT a cost of inflation? CORRECT ANSWERS Historical price
level uncertainty.
How is the Consumer Price Index (CPI) calculated? CORRECT ANSWERS The CPI
measures changes in the price level of a market basket of
consumer goods and services purchased by households.
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