umuc econ201 homework 2 latest 2015 december 1

*********

**********

***** Your

****

has been ********* successfully
Chapter *

*******

Question * 1

/

* ****** ***** ** the *********

factors

contribute to ******** growth?
** ** increase ** ***

standard

of ******* ** * decrease ** the ************

**

****** ** ** increase ** *** ******* wage

****

**** ** ******** d) ** increase ** *** ********** ** the

population

**** ** college ********* ******** * * * * ****** In the ****

run

*** most important ****** of ********

**

* nation’s ******** ** living ** *** a) **** rate ** ********** ******* ** **** **** of ********

*******

** **** **** ** consumption
**

****

**** ** labor force growth
Question

3

* / * point
****

*********

members ** *** ************* growth ******* ****

*******

a *********** ******* **** _________
**

********

** ******** c) ******** d) ******** ******** * 1 * * ****** Which ** the

following

is ****

likely

** **********

**

economic ******

as

******** by

***

per ******** a) the ********** **

*******

and quotas on ******** ****** b) ***** ********** ******* ** ********* capital ********** ** ** ******** in ********

***

****** ******** * * * * ****** ** ******* *

****

******** ** living *

******

******** ** ******* ********

*******

** ******** *** *** ********* *** *****

dependents

** ******** ******* ******** ** ***

*****

** *** **** ******* and **** labor in *** **********

********

Question * * *

1

point
********************* is * **** ***** ****** **

the

********** use of ************ ********* *** the

economic

*** social ******* **** resulted ** the ***** half ** ***

1800s

** ********** *** inventions
b) GDP

per

******* ** *** ********** *********** d) *** ****** standard
Question * 1 * 1 ****** ************ is * **** ***** refers ** the ********** use ** ************ machinery

and

*** economic *** ******

changes

**** resulted ** ***

first

half of *** ******

**

********** Revolution
** *******

deepening

** *********** ** ****** ********* *******

*

Problems
******** * * * 1 point
******* ***** *** Country **** initially have *** **** **** GDP *** ****** ******* Alpha *********** ** ******** ****** ***** *******

Beta

***** at *

*********

**** of *

*******

** **

*****

******* *********** GDP

will

** approximately *********

****

** Country ***** a) ******* b)

*******

** ********* ** one-fourth
******* * ******* ******** * / 1 point
********** ************ **** ** unemployment ****** by ********** ** *** ********** ** ************ **** ** due to the friction ** ********* ideological ******** ** unemployment **** ** due ** normal turnover in

***

labor *******

**

************ ******

by

lack of

********

and **********

********

** * /

*

point
The definition of market

***********

****** that **

***

*************** *** quantity of labor demanded ** employers

****

***** *** ******** ********* ** equilibrium wage
** ******* **** ** *************

**

****** ***** ** ********** wage
******** ** * / * ****** The

******

** _______________________ **** depend ** *** **** it is

***

******* to ***** ***** *********** ****

which

*** ******* *** ease of ************** about *** prospects in *** ******** * ********** unemployment
* cyclical unemployment
* ******** ************* D

cyclical

*********** ******** **

*

* * ****** The most

significant

**** economic ****

of

**** ************ ****

**

the ***** **** ** ************ *********

********

to the *********** ** the **** *** ******* **** might **** **** **** ** ******* ** **** *** worked
** *** ***** cost ** ********** ******* ** obtain *** ***** **

***

********* goods and

********

**** ***** have

been

******** but ************

********

** * *

*

****** The ************ **** ********** **

unemployed

******* ** * percentage of *** ***** ****** ** **********

workers

** * ********** ** *** *********** ** ********** ******* as a

percentage

** *** population age over-sixteen
** *** number ** ****** ********** ******* ** the number **

people

********* ******** ** * * * point
** * ************ *****

*****

******** a *********** ****** ** ***** ********* a) the natural **** ** unemployment

is

******** ** change
** the *******

rate

** ************ ** likely

**

********* ** *** ******* **** ** unemployment ** ****** **

increase

** ********** ************ will likely decrease to ***** *******

*

Problems
******** ** * * 1 point
Craigburg *** * *******

age

********** ** 20 ******* ** ***** ** ******* are ******** and * *******

are

********** *** ************ **** ** ********

***

the ************* rate ** *********** ** **** 60%
b) *** **** c)

****

**** d) *** **** Question ** * / * ******

********

looked for work *** *** ****** but ***** *** ****

*

*** ** *** ****** He *** ****** *** **** at

***

***** *** ******** ** ********** ** is ************

**

unemployed
** ********

in

*** underground ******** ** ************** **

out

** *** ***** ****** ******** 17 * * * ****** ** ******** **** *** ***** force in ********* was ***** ***** **** ***** ******* employed *** ***** ************ ****** a) ***

****

** *** 56%

c)

*** 21%
**

***

**** ******* *

*******

******** 18 1

*

* ****** *** ****** ** goods

**

*** ******** ***** Index ******** ** ***** _________ ********* **** ** ******* hundred ******** ******** in **** ********** broad-item *********** ** **** **** ** 80000; **** ** **** **** ** ******

****

******** **

*

* * point
***** ** ***

*********

is ***

name

used ** describe the ***** *****

****

******** ** ************ ***** *** ********

*******

a) ********** **** Index
b) ******** ***** ****** c) ******** ***** ****** d) ********** ***** Index
******** ** *

*

* ****** ***

**

the ******* ****

*

rise ** ***

price

** a *****

basket

** ***** over

****

***** ** overstate *** rise **

*

**************** **** cost of ****** **** a) ************ bias
** ************* ***** ** *********** ***** ** ********** ***** Question ** * * * ****** A

payment

** **** **

**

**************** if **

**

************* ******** ***

**********

** ******** **

*****

*********** ** *********** ** matched
********

22

* * * ****** The ********** ****** ** *** price ***** **** *** **** ****** to *** **** ******* the *****

*****

** ******** in *****

**

***** ** as *

*****

***** **** be the

**************

** consumer ***** index

**

******** ***** ****** ** ***** *****

*****

** ********* rate
Question 23 * / * point
While one occasionally **** ********** ** ********* **** ***** **** ******* the **** ********* implies ***************** ** ******* ** ***** **** *********

**

***** **** *****

**

******* decrease
**

ongoing

rise
******* *

*********

******** 24 1

/

* point
Nancy’s ***** has **********

*

three-year **** ******** **** ******** *** * 24% ******** ******* ** ********* *** *****

of

********* ***

********

to be 162%

****

*** ****

respectively

*** ****

***********

wage ******** ** expressed ** ***

***

********** ** **** **** **** ** COLA **** 16%
** COLA plus **** d) **** **** 19%
******** ** 1 / * ****** ** ******* ***** ** adjust the ******* GDP for the

*****

**** *** **** into

****

***** ** ******** his

comparison

analysis The ******* GDP

**

**** *** ****

billion

*** ***** ******* *** 2010; ***

real

******** rate *** **** ** **** and 371% ** ***** *** **** deflator was 24 *** 51 in

****

**** ** *** ****

******

** 1834%
b) ******

**

******* ** *****


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