8.Using the BELOWtable, the unemployment rate X is

Total population 745,000

Working age population 550,000

Number employed 361,000

Number of unemployed 19,000

A. 3.5 percent.B. 5.0 percent.

C. 2.6 percent.D. 2.1 percent

9. Cyclical unemployment is caused by

A. technological change.

B. a dynamic economy in which people want to switch jobs sometimes.

C. predictable shifts in production associated with different seasons.

D. changes in an economy's overall condition.

10.

2005 Market Basket Commodity Quantity 2005 Price 2015 Price

A 30 7 9

B 80 6 18

Refer to the above table. You are given information on Jane's consumption for 2005 and 2015. Using 2005 as the base year compute the price index for 2015. The index equals

A. 0.4035.B. 0.2478.

C. 247.826.D. 40.35.

11.Year Current Widget Price Base Widget Price

1 $0.75 $0.75

2 1.35 0.75

3 1.50 0.75

4 2.00 0.75

According to the above table, in Year 3, the price index for widgets is

A. 150.B. 100.

C. 200.D. 75.

12. The full-employment level of GDP is

A. long-run aggregate demand.

B. endowments.

C. long-run aggregate supply.

D. economic growth