US Unemployment Rate Test – Mathematics Outcomes

US Unemployment Rate Test

This is a Mathematics Test including questions on US unemployment rate.


The US unemployment rate in Aug of 2010 was 9.5%.  In Aug of 2016, the US unemployment rate was 4.9%.  Calculate and interpret the absolute change in unemployment rates.

 From Aug 2010 to Aug 2016, unemployment rates in the US      [ Select ]      [ Select ]     [ Select ]

Correct Answers

Answer 1: Decreased

Answer 2: 4.6

Answer 3: Percentage points

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In 2015, an estimated 7,620,000 travel books and 4,660,000 humor books were sold.   

 —————- Compare the number of travel books to humor books using absolute change. (Write your answer only as a positive or negative number (no units).)  

—————-  Compare the number of travel books to humor books using relative change.(Write your answer as a percentage rounded to the nearest tenth.)

Answer 1:

2,960,000 or 2960000 Correct

Answer 2:

63.5% or 63.5Correct

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The percent of working students increased 10.8% to 58.7%, what was the percent prior to the increase? 

(Round your answer to the nearest tenth of a percent.)

53 (margin of error +/- 1%) Correct

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A company hopes to expand their business by 11% in the coming year.  If they currently employ 63 people, how many people will the company employ after the expansion?  (Round your answer to the nearest whole person.  Do not include units with your answer.)

70 Correct

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A new department store opened in January 2016.  A graph of the income in the first several months is included below:

US Unemployment Rate Test - Mathematics Outcomes

Department Store Sales.jpg

Considering the graph above, could we use this linear model to predict income of January 2025?   (Complete the sentence below by selecting the best of the available phrases.)

[ Select ]  because    [ Select ]

Answer 1:

No – Correct

Answer 2:

we have one year of data and 2025 is 9 years beyond the scope of the model. – Correct

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Rock-music sales represented 24.8% of the total music sales in 2000.  By 2007, rock-music sales represented 32.4% of the total music sales.  Calculate and interpret the unit rate of change (slope).  

From 2000 to 2007, rock sales   [ Select ]  an average of     [ Select ]     [ Select ]  per     [ Select ]

Correct Answers

Answer 1:

increased

Answer 2: 1.09

Answer 3: Percentage points

Answer 4: Year

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Ivy and Tech tuition was $1986 in 2000 and $3090 in 2010.

Calculate the slope, then complete the linear model that would predict the tuition for any year after 2000:

y =            [ Select ]  x              [ Select ]  1986

Correct Answers

Answer 1: 110.4

Answer 2: +

Answer 3: 1986

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Consider the graph below:

US Unemployment Rate Test - Mathematics Outcomes
Automobile Registrations by Year.jpg

Use the model to find the expected number of automobile registrations (in millions) for year 1,988. (Express you answer as a decimal rounded to the nearest hundredth.  Do not include units with your answer.)

6.36 Correct

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Use the graph below to calculate the growth factor on the savings account graphed.  Express your answer as a decimal rounded to the nearest thousandth.

US Unemployment Rate Test - Mathematics Outcomes
Savings account balance 1.jpg

1.005 (with margin: 1) – Correct

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A particular type of mold is growing 9.7% per hour.  Assuming that mold growth continues at this rate and there were 14,000 spores at 12:00am, estimate the expected number of mold spores at 3:30am. (Round your answer to the nearest whole spore. Do not include units on your answer.)

19,358 – Correct

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The half-life of a radioactive substance is one day, meaning that every day half of the substance has decayed.  Suppose you have 304 grams of this substance.  Construct an exponential model for the amount of the substance remaining on a given day.  Use your model to determine how much of the substance will be left after 4 days. (Express your answer rounded correctly to the nearest tenth of a gram.  Do not include units with your answer.)

19 (margin of error +/- 2%) Correct Answer

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Consider the graph below, then construct the appropriate model to represent the growth of the demogorgon population.

Demogorgon Population.jpg

y = 300 (3) ^t

Correct Answers

Answer 1: A

Answer 2: 1

Answer 3: (3)

Answer 4: ^t

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In the rise of online shopping, malls are losing storefronts.  The local mall started with 86 stores at the time that it was opened, but has consistently lost 6 stores per year for each year the mall has been open.  Which of the following models represents the number of stores in the local mall at any given year, x?    

86x – 6

-6x + 86 Correct

− 6 ( 86 )ᵡ 

0.94x + 86

86 ( 0.94 )ᵡ

86 ( − 6 )ᵡ

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Lori buys a $890 certificate of deposit (CD) that earns 7% interest that compounds monthly.  How much will the CD be worth in 9 years? (Express your answer rounded correctly to the nearest cent. Do not include units on your answer.)

1,668.02 (margin of error +/- 0.1%) Correct

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You carry over a balance of $400 on a recent purchase of a washing machine, you will just pay the minimum payment each month for the next three months.  The APR is 15.99% and the minimum payment each month is 4% of the balance.  Determine the finance charge, new balance, and minimum payment required for the first month, and the starting balance for month 2 in the table below (round to the nearest cent, do not include units with your answers) 

MonthCarry-over balanceFinance chargeNew balanceMinimum payment
1$400  ——————  —————  ——————-
2——————-  

Correct Answers

Answer 1: 5.33

Answer 2: 405.33

Answer 3: 16.21

Answer 4: 389.12

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Your friend is going to borrow $87,500 using a 15 year mortgage with a 5.25% APR. Which of the following could you type into Excel to find her monthly mortgage payment?

87500 ( .0525 12 ) 12 × 15

= 875000 ( 1 + .0525 12 ) 12 × 15

=FV(0.0525/12,12 x 15,-87500)

0.0525/12 × 15 × 12 × 87500

=PMT(0.0525/12,12 x 15,-87500) – Correct!

=PV(0.0525/12,12 x 15,-87500)

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Miguel currently pays $950 for rent each month and has decided to purchase a home.  The home he wants costs $156,000.  He has a down payment of $25,000 and has already secured 4.75% on a 20-year mortgage.  What would Miguel need to type into Excel to figure his monthly mortgage payment?

=  …………….(0.0475/12, 20 x 12, ……………..)

Answer 1:

PMT – Correct

Answer 2:

-131000 – Correct

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Randall is purchasing a home priced at $220,000.  He agrees to 4.75% interest over 20 years, and the bank tells him that after his down payment, his monthly payment will be $1,280.93.   What will the total of all of Randall’s payments be over the lifetime of the mortgage?

307,423.2 Correct

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Bernadette has enrolled in a 401(k) savings plan offered by her employer.  She decides to deposit $200 to her account each month.  If her account pays 6% annually, what would you type into Excel to calculate the account balance after 40 years of saving?

=               [ Select ]                       ( [ Select ]              ,            [ Select ]             ,               [ Select ] )

Correct Answers

Answer 1: FV

Answer 2: .06/12

Answer 3: 12 x 40

Answer 4: – 200

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Oscar is preparing to retire.  His 401(k) currently has a balance of $248,797.42.   If he’s been depositing $163 each month for the last 33 years, how much has Oscar earned in interest so far?    

184,249.42 – Correct

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