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Try to answer each of the questions on a piece of paper. When you are finished, watch the videos next to each question to get the solution. These will only be as helpful as you make them. Answer first, watch second.
Try to answer each of the questions on a piece of paper. When you are finished, watch the videos next to each question to get the solution. These will only be as helpful as you make them. Answer first, watch second.
1
1
Use the following information to calculate the unemployment rate and labor force participation rate.
Working age population: 200 million
People with jobs: 125 million
People looking for a job: 15 million
2
2
Categorize each of the workers below as a case of friction, structural, or cyclical unemployment.
Laurie was laid off during the 2008 recession because her company had fallen on hard times and needed to downsize.
Dino was laid off from his job at the auto factory because the work he did was now being automated by machines.
Anthony was laid off last year and spent a couple months looking for a job, but wasn't able to find one.
Gina graduated from her Masters program last month and is currently interviewing with a couple different companies.
3
3
Doug and Sue have retired on a pension which provides them with a fixed income. They have decided to buy a new home for their retirement and take out a loan to finance the purchase. Over the next 10 years, there is more inflation than anticipated. Have Doug and Sue benefited from this inflation?
4
4
Below is the CPI for three years:
1948 - CPI: 24.1
1949 - CPI: 23.8
1950 - CPI: 24.1
Calculate the inflation rates for 1949 and 1950 and identify if the economy experienced inflation or deflation for that period.
5
5
What are the four stages of the Business Cycle?
Module 4 Quick Quiz
Module 4 Quick Quiz
Now that you have watched all the videos and tried all of the example problems, see how you do on this short quiz. If you score under 75%, consider reaching out to your course instructor for some advice.
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