For questions 1 through 6, classify the individual described as most likely

a. structurally unemployed, b. frictionally unemployed, c. not in the labor force, or d. cyclically unemployed.

1. Louise graduated in August, but has not yet found a job that has hours that fit with her triathlon training.

2. Stanley graduated in August, and is spending the time until Christmas rewriting all his songs before moving to Nashville to try to sell them.

3. Mary got fired from her job with Macdonalds for giving french fries to her friends and has not yet found another job, although she is looking.

4. John moved to Tallahassee when his wife entered a graduate program at FSU, but so far has not found a job yet despite looking. In Cleveland, he was a tool and die designer, but now he would do almost anything.

5. Jacob moved to Atlanta in 1981, but was out of work all through 1982 despite being willing to do anything for money -- nobody seemed to be hiring then.

6. Because the State closed Apalachicola Bay to oystering, Fred has no work, and cannot find any because with the net ban, things are bad in Franklin County.

7. If real GDP growth is 3% and inflation is 4%, money GDP grew about

a. 0.75% b. 1% c. 7% d. -1%

8. If the money interest rate is 9% and inflation is 4%, the real interest rate is

a. 13% b. 5% c. 1.8% d. -5%

9. If the price level increases more than expected, who is most likely to gain?

a. People who lent money b. people who borrowed money at fixed interest rates c. people who receive fixed money pensions d. people who borrowed money at variable interest rates.

10. In symbols, GDP [Y] is equivalent to :

a. C + I + G

b. C + I + G + (X - M)

c. T + S + G

d. C + S + T + (X - M)

 
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