The increased entry of women and young people into the U.S. labor for Show more Question 1 2 points 2 points 2 points 2 points 2 points Save The increased entry of women and young people into the U.S. labor force from 19601980 led to The increased entry of women and young people into the U.S. labor force from 19601980 led to increased unemployment reduced unemployment a more experienced workforce a more effective monetary policy increased unemployment reduced unemployment a more experienced workforce a more effective monetary policy Question 2 2 points 2 points 2 points 2 points 2 points Save The organization that develops and recommends to the U.S. President national economic policies to foster maximum employment production and purchasing power is the The organization that develops and recommends to the U.S. President national economic policies to foster maximum employment production and purchasing power is the Joint Economic Committee Bureau of Labor Statistics Council of Economic Advisers Full-Employment Council Joint Economic Committee Bureau of Labor Statistics Council of Economic Advisers Full-Employment Council Question 3 2 points 2 points 2 points 2 points 2 points Save The total U.S. labor force excludes those The total U.S. labor force excludes those under age 20 under age 18 under age 16 over age 70 under age 20 under age 18 under age 16 over age 70 Question 4 2 points 2 points 2 points 2 points 2 points Save The Council of Economic Advisors is directly responsible to the The Council of Economic Advisors is directly responsible to the Congress U.S. President Secretary of the Treasury Federal Reserve Board of Governors Congress U.S. President Secretary of the Treasury Federal Reserve Board of Governors Question 5 2 points 2 points 2 points 2 points 2 points Save Unemployment caused by automation would be broadly classified as Unemployment caused by automation would be broadly classified as structural frictional cyclical induced structural frictional cyclical induced Question 6 2 points 2 points 2 points 2 points 2 points Save The Employment Act of 1946 does not require that the administration in office should endeavor to The Employment Act of 1946 does not require that the administration in office should endeavor to maximize production maximize employment maximize purchasing power stabilize prices maximize production maximize employment maximize purchasing power stabilize prices Question 7 2 points 2 points 2 points 2 points 2 points Save The labor force participation rate is The labor force participation rate is the civilian labor force as a percentage of the civilian noninstitutional population the noninstitutional population as a percentage of the total labor force the civilian labor force as a percentage of the total labor force employed workers as a percentage of the civilian noninstitutional population the civilian labor force as a percentage of the civilian noninstitutional population the noninstitutional population as a percentage of the total labor force the civilian labor force as a percentage of the total labor force employed workers as a percentage of the civilian noninstitutional population Question 8 2 points 2 points 2 points 2 points 2 points Save The rate of unemployment that can be expected from normal frictional unemployment in an otherwise fully employed labor force is known as the The rate of unemployment that can be expected from normal frictional unemployment in an otherwise fully employed labor force is known as the natural rate of unemployment full-employment unemployment rate structural unemployment rate Humphrey-Hawkins unemployment rate natural rate of unemployment full-employment unemployment rate structural unemployment rate Humphrey-Hawkins unemployment rate Question 9 2 points 2 points 2 points 2 points 2 points Save The natural rate of employment corresponds roughly to the sum of The natural rate of employment corresponds roughly to the sum of frictional unemployment plus structural unemployment the full-employment unemployment rate plus frictional unemployment cyclical unemployment plus structural unemployment frictional unemployment plus cyclical unemployment frictional unemployment plus structural unemployment the full-employment unemployment rate plus frictional unemployment cyclical unemployment plus structural unemployment frictional unemployment plus cyclical unemployment Question 10 2 points 2 points 2 points 2 points 2 points Save The Full Employment and Balanced Growth Act set a 1983 U.S. inflation rate target of The Full Employment and Balanced Growth Act set a 1983 U.S. inflation rate target of 1 percent 2 percent 3 percent 4 percent 1 percent 2 percent 3 percent 4 percent Question 11 2 points 2 points 2 points 2 points 2 points Save The total U.S. labor force excludes members of the armed services stationed outside the United States. The total U.S. labor force excludes members of the armed services stationed outside the United States. True False True False Question 12 2 points 2 points 2 points 2 points 2 points Save A sizable part of increases in the U.S. labor force in the past few decades has been due to the influx of women. A sizable part of increases in the U.S. labor force in the past few decades has been due to the influx of women. True False True False Question 13 2 points 2 points 2 points 2 points 2 points Save The statistical indicators of business cycle changes contain The statistical indicators of business cycle changes contain leading indicators lagging indicators roughly coincident indicators all of the above leading indicators lagging indicators roughly coincident indicators all of the above Question 14 2 points 2 points 2 points 2 points 2 points Save According to monetary theories of the business cycle fluctuations are According to monetary theories of the business cycle fluctuations are independent of the banking system more prevalent in countries with modern banking systems more prevalent in agricultural countries less prevalent in those countries with modern banking systems c 13) Monetary theorists maintain that to eliminate the business cycle it is necessary to eliminate a. money b. currency *c. bank creation of checkable deposits d. bank reserves independent of the banking system more prevalent in countries with modern banking systems more prevalent in agricultural countries less prevalent in those countries with modern banking systems c 13) Monetary theorists maintain that to eliminate the business cycle it is necessary to eliminate a. money b. currency *c. bank creation of checkable deposits d. bank reserves Question 15 2 points 2 points 2 points 2 points 2 points Save Which of the following rises during a contraction and falls during the expansion phase of the business cycle? Which of the following rises during a contraction and falls during the expansion phase of the business cycle? prices unemployment output interest rates prices unemployment output interest rates Question 16 2 points 2 points 2 points 2 points 2 points Save According to the rational expectations theory According to the rational expectations theory the expected results of government anticyclical measures are intensified by the actions of businesses and individuals the easy expansion of the money supply by banks eventually leads to excess productive capacity the expected results of government anticyclical measures are offset by the actions of businesses and individuals the limited expansion of the money supply by banks eventually leads to excess productive capacity the expected results of government anticyclical measures are intensified by the actions of businesses and individuals the easy expansion of the money supply by banks eventually leads to excess productive capacity the expected results of government anticyclical measures are offset by the actions of businesses and individuals the limited expansion of the money supply by banks eventually leads to excess productive capacity Question 17 2 points 2 points 2 points 2 points 2 points Save As the economy approaches the peak phase of the cycle profits will tend to As the economy approaches