1. Samantha worked 40 hours last week. She is considered:
   1. Employed
   2. Unemployed
   3. Not in the work force

1. Ben lost his job at the local factory 2 months ago and has been sending out resumes. He has refused offers of employment to look for a better job. Ben is considered:
   1. Employed
   2. Unemployed
   3. Not in the labor force

1. Steve stays at home to watch his children. He does not have a job and is not currently looking for one. Steve is:
   1. Employed
   2. Unemployed
   3. Not in the labor force

Suppose that the total population is 200 million. 100 million are not in the labor force. 80 million are employed full-time and 16 million are employed only part-time. 10 million are "discouraged workers" who have given up looking for a job.

1. The "official" unemployment rate is:
   1. 21%
   2. 20%
   3. 11%
   4. 4%

1. The "actual" number of unemployed and "underemployed" is:
   1. 4 million
   2. 10 million
   3. 26 million
   4. 30 million

1. A situation when the skills of unemployed workers are no longer needed in the workplace is called:
   1. Frictional unemployment
   2. Structural unemployment
   3. Cyclical unemployment

1. Inflation:
   1. Reduces both the purchasing power of the dollar.
   2. Increases the purchasing power of the dollar.
   3. Has no effect on people on fixed incomes.

1. Which of the following is most indicative of a recession?
   1. A decline in unemployment
   2. A rise in inflation
   3. A decline in real GDP
   4. An increase in interest rates

1. Core CPI excludes: ( answer all that apply )
   1. Food
   2. Medical costs
   3. Energy
   4. Taxes

1. Occasionally, rapidly rising prices for energy results in higher prices for many goods and services. The resulting inflation is best categorized as:
   1. Cost-pull
   2. Cost-push
   3. Demand-pull
   4. Demand -push