GDP/Employ
Unemployment 1
Unemployment 2
Unemployment 3
Unemployment 4
About Loomis
100
The amount of income that households keep after paying taxes is:
What is personal disposable income.
100
According to the demand-pull theory, inflation is caused by?
What is consumers
100
The labor market is defined as?
What is all workers who are 16 years and over who are working or are currently looking for work in the last six months.
100
The government considers a discouraged worker as?
What is not in the labor force.
100
Frictional unemployment occurs when?
What is when a worker quits his or her job.
100

Mr. Loomis's middle name

William

200
True or false: One of the flaws of GDP is that it ignores transactions that do not take place in the formal market.
What is true
200
Andy lacks the skills necessary to be employed he is what type of unemployment?
What is structurally
200
Economists say that the economy is at "full employment when?
What is there is no cyclical unemployment
200
Recessions refer to a period when the economy is?
What is fails to grow for at least six months.
200
An order to be defined as unemployed a person must?
What is not have a job and must be actively looking for a job.
200

Sports Loomis played in HS.

Baseball, soccer, basketball (1 year)

300
During periods of poor economic performances, real GDP:
What is declines and unemployment rises sharply
300
Economists define the labor force to include?
What is people who are working, not working but actively looking for a job.
300
People who are working part-time but want to work full-time are classified as:
What is employed and in the labor force or underemployed.
300
People who stopped looking for work are:
What is discouraged .
300
Structural unemployment occurs when:
What is there is a mismatch between the jobs available and the skills of the worker seeking the job.
300
The wildest thing he's done from the following:

streaking

hang gliding

parasailing

bungee jumping

skydive

What is skydive?

400
Unemployment that is directly related to swings in the business cycle is:
What is cyclical
400
The leel of unemployment when there is no cyclical unemployment is known as:
What is natural rate of unemployment.
400
The natural rate of unemployment is what percent.
What is 4-6 percent.
400
Inflation is the percentage change in the______.
What is price level.
400
Deflation occurs when ________
What is the price level declines.
400

Three colleges he has degrees from.

Sage JCA (AAS Accounting)

Siena (BBA Accounting)

St. Rose (MS in Education)

500
According to the cost-push theory, inflation is caused by?
What is producers
500
hyperinflation occurs when______
What is inflation rises above 500%
500
Creeping inflation ranges from what to what percent.
What is 1 to 3 percent.
500
Galloping inflation occurs when________.
What is 100-300 percent.
500

These are people who receives unemployment benefits AND who does not receive.

Who are people laid off get it and not those who quit or are fired.

500

Three countries Loomis has visited outside of the US.

What are Canada, England, and Egypt?

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