Fill in the blanks to make the following statements correct.

a. The labour force includes people who are__________ and people who are _________ The unemployment rate is expressed as the number of people who are _________ as a percentage of people in the __________

b. At any point in time, some people are unemployed because of the normal turnover of labour (new entrants to the labour force, job leavers, and job seekers). This unemployment is referred to as __________ Some people are said to be unemployed__________ because their skills do not match the skills necessary for the available jobs.

c. Suppose 200 2 is the base year in which the price of a basket of goods is set to be 100 . If the price of the same basket of goods in 201 3 is 137 , then we can say that the price level is _________ and that the price of the basket of goods has increased by _________ percent between 200 2 and 201 3.

d. Suppose Canada's CPI in May 201 2 was 122 .5 and in May 201 3 was 125 .1. The rate of inflation during that one-year period was _______ percent.

e. The price that is paid to borrow money for a stated period of time is known as the _____

f. The real interest rate is equal to the nominal interest rate _________ the rate of inflation.

g. The number of Canadian dollars required to purchase one unit of foreign currency is the_________ between the Canadian dollar and that foreign currency.

h. An __________ in the exchange rate reflects a depreciation of the Canadian dollar; a(n) ___________ in the exchange rate reflects an appreciation of the Canadian dollar.