technology is known as _____ unemployment.

Question 6 options:

a)	structural

b)

seasonal

c)

cyclical

d)	frictional

The nominal value of wages explains how much a consumer can pay for goods and services.

Question 7 options:

a)

True

b)

False

The consumer price index does NOT include:

Question 8 options:

a)	the price of a haircut.

b)	apartment rental rates.

c)	the price of milk.

d)	property taxes.

If the nominal GDP is $13 trillion for a given year and the GDP deflator for that year is 115, then the real GDP is:

Question 9 options:

a)	$11.3 trillion.

b)	$14.95 trillion.

c)	$13.0 trillion.

d)	$12.0 trillion.

Which statement about chained consumer price index for urban consumers (C-CPI-U) is TRUE?

Question 10 options:

a)	It does a better job in approximating a cost-of-living index than the CPI.

b)	It has no advantage over the CPI.

c)	It is generally higher than the CPI.

d)	It takes less time to estimate than the CPI.