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Economics Review

Quiz by Ruru j

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18 questions
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  • Q1
    Easy access to credit can be a cause of ______
    cost push inflation
    Demand pull inflation
    30s
  • Q2
    A sustained and significant increase in the general price level is called…
    hyper inflation
    creeping inflation
    deflation
    inflation
    30s
  • Q3
    An industry’s replacement of machinery workers with robots is known as ______
    structural unemployment
    cyclical unemployment
    seasonal unemployment
    frictional unemployment
    30s
  • Q4
    Why does frictional unemployment occur in the workforce?
    It is due to normal turnover in the labor market and the time it takes for workers to find new jobs
    It is due to an absence of demand for a certain type of worker
    It is due to the ups and downs of the economy over time
    It is due to the structure of the economy changing from month to month
    30s
  • Q5
    The poorest receive assistance through ___________
    workfare
    welfare
    30s
  • Q6
    ______________, which requires the exchange of labor for government benefits has replaced some direct cash payment.
    welfare
    Workfare
    30s
  • Q7
    The percentage of people living in households with incomes below the minimum needed to cover basic necessities is the
    poverty line
    poverty threshold
    poverty curve
    Poverty rate
    30s
  • Q8
    Which of the following factors have a strong influence on who is likely to live in poverty?
    Lack of property rights and the poverty threshold
    Changes in available jobs and outsourcing
    Education and demographic trends
    Discrimination and the unemployment rate
    30s
  • Q9
    What kind of inflation is the wage-price spiral an example of?
    cost push inflation
    demand push inflation
    cost pull inflation
    Demand pull inflation
    30s
  • Q10
    The consumer price index measures
    The rate of change in taxes over a set period of time
    Changes in wholesale prices
    The additional fees consumers pay when making purchases
    Changes in the prices of products commonly purchased by households
    30s
  • Q11
    Jack lost his job six months ago, and he's been actively looking for a new job ever since. The Bureau of Statistics would classify Jack as
    unemployed
    out of the labor force
    non of the above
    a discouraged worker
    30s
  • Q12
    Types of unemployment include all but
    constructional
    frictional
    seasonal
    cyclical
    30s
  • Q13
    Suppose there are 81.0 million people not in the labor force; 154.0 million in the civilian labor force, and 140.9 million employed. Based on these numbers, what is the unemployment rate?
    13.1
    5.5
    8.5
    9.3
    30s
  • Q14
    Suppose there are 81.0 million people not in the labor force; 154.0 million in the civilian labor force, and 140.9 million employed. Based on these numbers, how many people are counted as unemployed?
    13.1 Million
    73.0 Million
    81.0 Million
    59.9 Million
    30s
  • Q15
    No universal standard for poverty; varies from country to country
    False
    True
    30s

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