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Suppose inflation is currently running at 15% and, as a result, sales catalogues have to be reprinted every month. This is an example of:
The natural rate of unemployment is the rate of unemployment when the economy is in:
Martha did not like her job as a receptionist, so she quit the job and is looking for one that better suits her artistic talents. Ting Pei would like to work, but employers are not willing to hire him because he does not have computer skills. Martha is ____ unemployed and Ting Pei is _____ unemployed.
Nigella lost her job at the day care centre when the economy turned down, but thinks they will rehire her when the economy picks up again. Nigella is _____ unemployed.
Cyclical unemployment is:
Structural unemployment is:
In a country with 20 million people aged 15 years and older, 12 million in the labour force, and 11.4 million employed, what is the unemployment rate?
If workers and employers expecting 5% inflation agree to a three-year wage contract and inflation turns out to be 3%, then:
If you borrow money at what you believe is an appropriate interest rate for the level of expected inflation, but the actual inflation rate turns out to be much higher than you had expected:
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