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Your completed assignment should be at least three to four pages in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. All references and citations used must be in APA style.
I have attached the document with the questions on it. Also, a guide.
Question 7 has a graph. The picture is attached as well.
7. (Inflation) Here are some recent data on the U.S. consumer price index:
Computer the inflation rate for each year 1993-2012 and determine which were years of inflation. In which years did deflation occur? Was there hyperinflation in any year?
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Explanation & Answer
Attached.
Running Head: CHAPTER QUESTIONS
1
Economics
Student’s Name
Institution Affiliation
Date
CHAPTER QUESTIONS
2
Chapter Questions
Answer Two
a).
Labor force participation rate = United States labor force/total non-institutional population
67%=United States labor force/230, 000,000
United States labor force =0.67*230,000,000
=154,100,000
b).
Unemployment rate = unemployed adults/total labor force*100%
Adults who are not part of the labor force=230, 000, 000 – 154, 100,000
=75,900,000
Unemployed adults = 85,000,000-75,900,000
=9,100,000
Unemployment rate =9,100, 000/230,000,000*100%
=0.0396*100%
=3.95%
=4%
Answer Three
a).
CHAPTER QUESTIONS
3
The unemployment, in this case, is seasonal unemployment because the employee has been
laid off because the Christmas season is over.
b).
In this case, the worker has been laid off because the demand cycle has reached a recession.
Therefore it is cyclic unemployment.
c).
Th...