Federal Reserve Bank of Boston Economic Quiz
1. What does the Employment Cost Index (ECI) for total compensation measure?
The rate of change in employee wages and salaries
The rate of change in employer costs of employee benefits
Both of the above
None of the above
2. How much did labor costs increase in 2001, as measured by the ECI for civilian workers?
3. Would higher wages caused by a change in occupation show up in the ECI?
4. According to the Bureau of Labor Statistics, in March 2000 employer compensation costs per hour for private industry and state and local government employees averaged approximately:
Private $15.00, State/local government $20.00
Private $20.00, State/local government $30.00
Private $15.00, State/local government $30.00
Private $20.00, State/local government $40.00
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Economic quiz written by: Delia Sawhney - July 29, 2002
Views expressed in the economic quiz are those of the individual author.