Assume adult males have a 48% share of the work force and their unemployment rate is 7.0%; adult females' share is 45% and their unemployment rate is 6.8%; teenagers' share of the work force is 7% with an unemployment rate of 18.0%. What is the overall unemployment rate?
A. 0.07
B. 0.072
C. 0.077
D. 0.084
E. 0.096
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If inflation were always perfectly anticipated, then
A. its real costs would exactly equal the inflation rate
B. people would hold less cash but would still suffer losses since money balances are always positive
C. the yield on interest-bearing assets would exactly compensate for losses on non-interest bearing assets
D. unemployment would always be at 4 percent
E. wage indexation would not work
Frictional unemployment is
A. the unemployment that exists even at the full-employment level of output
B. unemployment that results from an increase in the GDP gap
C. unemployment that occurs as a result of a supply shock
D. the result of discouraged workers leaving the work force
E. mostly the result of a high minimum wage rate
Roughly how large was the working-age population (16 years or older) in the U.S. in 2011?
A. 315 million
B. 306 million
C. 240 million
D. 140 million
E. 86 million
In 2009, the high unemployment rate in the U.S. caused a loss in real GDP of roughly
A. $68 billion
B. $168 billion
C. $680 billion
D. $1,168 billion
E. none of the above
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