(02.03 MC) An economy’s natural unemployment rate is 9 percent, its structural unemployment rate is 2 percent, and its cyclical unemployment rate is 3 percent. Based on this data, its frictional unemployment rate is ________, and its actual unemployment rate is ________.

(02.05 MC) If the rate of inflation unexpectedly increases, which of the following individuals will suffer a loss?

(02.04 MC) If the CPI in Year 1 is 120 and in Year 2 is 130, then what impact will this have on the price level and cost of living for individuals?

(02.03 MC) Which of the following explains why the unemployment rate could be misleading?

(02.07 LC) Which of the following is true if the economy is producing above the full employment level?

(02.04 HC) Assume that only two goods, A and B, are produced in an economy. In the base year, 5 units of A are produced for a price of $4, and 5 units of B are produced for a price of $6. And in a given year, 5 units of A are produced for a price of $5, and 5 units of B are produced for a price of $9. What is the CPI for the given year?

(02.07 LC) What can you conclude regarding the the economy if it is producing below the full employment level?

(02.01 MC) Which of the following statements explains the difference between final goods and intermediate goods with regards to the GDP?

(02.01 MC) Which of the following statements explains the difference between final goods and intermediate goods with regards to the GDP?

(02.07 LC) At the current equilibrium real GDP, there is a recessionary output gap. Which of the following must be true?