Listed below are twelve technical macroeconomic terms introduced in our course: producer price index indexation Job search natural rate of unemployment real interest rate labor force unemployment rate discouraged workers labor-force participation rate union nominal interest rate cyclical unemployment Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the economic term described, or answer "None" if the statement does not correctly describe any of the terms. Do not use a term more than once. a measure of the cost of a basket of goods and services bought by firms the automatic correction by law or contract of a dollar amount for the effects of inflation the interest rate as usually reported without a correction for the effects of inflation the interest rate corrected for the effects of inflation the total number of workers, including both the employed and the unemployed the percentage of the labor force that is unemployed the percentage of the adult population that is in the labor force the normal rate of unemployment around which the unemployment rate fluctuates the deviation of unemployment from its natural rate individuals who would like to work but have given up looking for a job A. producer price index B. indexation C. cyclical unemployment D. nominal interest rate E. discouraged workers F. job search G. unemployment rate H. labor-force participation rate I. natural rate of unemployment J. real interest rate K. union L. labor force

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Listed below are twelve technical macroeconomic terms introduced in our course:

producer price index	indexation	Job search	natural rate of unemployment
real interest rate	labor force	unemployment rate	discouraged workers
labor-force participation rate	union	nominal interest rate	cyclical unemployment

Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the economic term described, or answer "None" if the statement does not correctly describe any of the terms. Do not use a term more than once.

a measure of the cost of a basket of goods and services bought by firms

the automatic correction by law or contract of a dollar amount for the effects of inflation

the interest rate as usually reported without a correction for the effects of inflation

the interest rate corrected for the effects of inflation

the total number of workers, including both the employed and the unemployed

the percentage of the labor force that is unemployed

the percentage of the adult population that is in the labor force

the normal rate of unemployment around which the unemployment rate fluctuates

the deviation of unemployment from its natural rate

individuals who would like to work but have given up looking for a job

A.	producer price index
B.	indexation
C.	cyclical unemployment
D.	nominal interest rate
E.	discouraged workers
F.	job search
G.	unemployment rate
H.	labor-force participation rate
I.	natural rate of unemployment
J.	real interest rate
K.	union
L.	labor force

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