Question : 31) Refer to Table 19-1. In which years was this : 1384344

31) Refer to Table 19-1. In which years was this economy experiencing a recessionary gap?

A) 2009, 2010

B) 2006, 2007, 2011

C) 2008, 2012

D) 2006, 2007, 2008

E) 2010, 2011, 2012

32) Refer to Table 19-1. In which years was this economy experiencing an inflationary gap?

A) 2009, 2010

B) 2006, 2007

C) 2010, 2011

D) 2008, 2012

E) 2006, 2007, 2011

33) Refer to Table 19-1. What is the unemployment rate when this economy is at “full employment”?

A) 5.9%

B) 6.0%

C) 6.3%

D) 7.0%

E) 7.1%

34) Refer to Table 19-1. In which years are the factors of production in this economy said to be “fully employed”?

A) 2006, 2007, 2011

B) 2008, 2012

C) 2009, 2010

D) all years

E) none of the years

35) Refer to Table 19-1. What is the output gap in 2007?

A) $408 billion

B) $411 billion

C) $7.1 billion

D) $3 billion

E) -$3 billion

36) Refer to Table 19-1. In the year 2009, it is probably the case that workers are ________ and factories are ________.

A) facing cyclical unemployment; facing temporary shut downs

B) working longer than normal hours; facing temporary shutdowns

C) experiencing zero unemployment; operating extra shifts

D) experiencing zero unemployment; operating beyond their normal capacity

E) working longer than normal hours; operating beyond their normal capacity

37) Women entered the labour force in large numbers in the 20th century and increased the economy’s GDP. This change

A) created inflationary gaps.

B) created recessionary gaps.

C) raised potential output.

D) was only possible in an economy operating above normal rates of utilization.

E) was only possible in an economy operating below normal rates of utilization.

38) A worker is considered unemployed if that worker has no job, is legally eligible to work,

A) and is actively searching for employment.

B) and is not collecting unemployment insurance.

C) whether the worker is looking for a job or is not looking for a job.

D) but only if they previously held a job.

E) but only if they were previously employed for at least three consecutive months.

39) Consider the growth in Canada’s labour force and employment. Over the last 50 years,

A) the labour force has grown much more rapidly than employment.

B) both the labour force and employment have remained roughly constant.

C) the number of unemployed persons has been a much larger fraction of the labour force than it was during the first half of the 20th century.

D) the main trend of the economy has been one of growth in employment that roughly matches the growth in the labour force.

E) the main trend of the economy has been to have employment grow more rapidly than the growth in output.

40) How is Canada’s unemployment rate determined?

A) The rate is determined by Canada Census data.

B) The rate is determined by a survey of Canadian employers.

C) The federal government department HRSDC (Human Resources and Skills Development Canada) conducts a monthly survey of the labour force.

D) Statistics Canada conducts a Labour Force Survey each month.

E) An estimate is produced by HRSDC based on the previous month’s unemployment rate adjusted by the current month’s job losses and job gains.