Asked by Alana Burns on Jun 17, 2024
Verified
Our unemployment rate is compiled by the _________ and our consumer price index is compiled by the ________.
A) Department of Commerce;Department of Commerce
B) Bureau of Labor Statistics;Bureau of Labor Statistics
C) Department of Commerce;Bureau of Labor Statistics
D) Bureau of Labor Statistics;Department of Commerce
Bureau Of Labor Statistics
A U.S. government agency responsible for collecting, analyzing, and distributing essential statistical data related to labor market activity, working conditions, and price changes in the economy.
Consumer Price Index
A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, typically used as an indicator of inflation.
Unemployment Rate
The percentage of the labor force that is jobless and actively seeking employment, used as a key indicator of the labor market's health.
- Discern the associations between inflation, deflation, and economic determinants like the unemployment rate.
- Identify government and central bank roles in managing the economy and addressing inflation.
Verified Answer
PP
Primrose PanesarJun 21, 2024
Final Answer :
B
Explanation :
The Bureau of Labor Statistics is responsible for compiling both the unemployment rate and the consumer price index.
Learning Objectives
- Discern the associations between inflation, deflation, and economic determinants like the unemployment rate.
- Identify government and central bank roles in managing the economy and addressing inflation.