Chapter 13 Test Review
Quiz by Maggie Maine
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8 questions
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- Q1When rising wages cause higher prices, and higher prices cause higher wages.deflationwage-price spiralincome distributionpurchasing power30s
- Q2Measurement that shows how the average price of a standard group of goods changes over time.inflation indexprice indexpurchasing indexgrant index30s
- Q3General increase in prices across the economy.deflationunemployment rateinflation30s
- Q4What is considered a normal unemployment rate when the economy is working properly?8-10%4-6%10-12%0-3%30s
- Q5Jessie's grandfather is always telling him that a dollar went farther when he was a child than it does today. He means that:young people today do not take care of their moneyU.S. currency is used in more foreign countries todaycurrency was more durable when he was younga dollar had more purchasing power when he was young30s
- Q6When Alison, a college math professor, leaves her job at a small rural college and starts looking for a job at a large urban university, she isstructurally unemployedfrictionally unemployedunderemployedcyclically unemployed30s
- Q7If a person has money invested at 9% and the rate of inflation is 5%, how much return is he or she actually making on his or her investment?1%4%9%14%30s
- Q8Why don't government planners try to end seasonal unemployment?Many people do not want to work all yearIt would eliminate too many jobsIt is a natural part of a healthy economyIt would be too expensive30s