a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. b. Which of the following is true of cyclical unemployment? c) A person who is working part-time but would like to be working full-time is considered to be unemployed. c. Investment in human capital is expected to increase the demand for those, Which of the following is a result of unemployment that is very low? d. zero unemployment rates. Real output exceeds the natural level of real output. The economy is in the peak phase of the business cycle. c. Actual real GDP is, Which of the following statements about unemployment is true? A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. C) cyclical unemployment. c. frictional unemployment should fall because p. Which of the following is true of seasonal unemployment? (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. of persons are insured persons- loss will be spread smoothly . A. Explain each answer briefly. C. the unemployment rate is above the natural rate of unemployment. ". a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. Which of the following statements is true? b. (choose all that apply) a) They are counted as part of the labor force by the Bureau of Labor Statistics, Which of the following describes a way in which unions can reduce wages? C. structural unemployment would r. According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is: a) considered unemployed. b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. a. ii) Hannah, who quit her job to find one that better su. Check all that apply. d. structural unemployment. Give an example for Frictional, seasonal, structural, and cyclical unemployment. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. D. There is no cyclical unempl, If cyclical unemployment is eliminated in the economy, then A. the economy is considered to be at full employment. Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. Natural rate of unemployment B. Unemployment/Full Employment - Frictional / Structural / Cyclical. c) unemployment caused by economic downturns. The unemployment rate is equal to the natural rate of unemployment. a. c. frictional unemployment. Unemployment correlated with the business cycle is called A. cyclical unemployment. A. a. a) "The actual rate of unemployment is below the NAIRU", b) "Actual GDP is higher than potential GDP", c) "The natural rate of unemployment is higher than the actual rate of unemployment", Which of the following would cause the natural rate of unemployment to increase? a. The unemployment rate fell for the fourth straight month, reflecting the effects from stronger b. c) Cyclical and structural unemployment. b. a. They canaffect long run RGDP. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? 1. Select all that apply. Which of the following statements is true? Which of the following would help reduce the amount of frictional unemployment? Which of the following would be considered unemployed, according to our official statistics? b. the leading economic indicators are unchanged for two consecutive quarters. Which of the following statements is true regarding international unemployment? C. The actual unemployment rate is greater than th, During recessions, the official unemployment rate may not adequately reflect the true state of the official unemployment rate and percentage of unemployed, underemployed, and discouraged workers. (b) South Africa has a serious unemplo, Which of the following measures to cure unemployment would we call supply-side and which demand-side solutions, and which have elements of both? a) It occurs even when an economy is producing at a point on its production possibilities frontier. Unemployment closely tied to the business cycle, e.g. Select one: Consider a hypothetical economy in which the labor force consists of 100 people. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. During healthy economic periods, cyclical unemployment A. rises. i) Juliet, who was fired when the company where she worked went bankrupt in a recession. I. The actual unemployment rate can never be above the natural rate. a. II. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. B. unemployment caused by changes in the industrial makeup of an economy. Createyouraccount. Which of the following are true of state and local revenues? In the production function, all the inputs are assumed to be fixed. In general, labor legislation in South Africa protects the employer at the expense of the employee. Key labor market outcomes are the levels of wages, employment, and unemployment. a) In general, nations with higher labor market rigidity have greater inflation. D) discouraged workers. B. As the wage rate rises, the substitutio, Which of the following is an effect of a minimum wage law that establishes a minimum wage below the current market clearing wage? Minimum wage c. Employment protection laws d. Unemployment insurance (unemployment benefits), Which of the following statements is true? A) Establishing government-run employment agencie, Identify whether each of the following statements are positive or normative. People who lost their jobs during the recession experienced cyclical unemployment . (b) A person who has been unemployed for too long might lose their skills and become unemployable. c. structural unemployment is zero. A. ii. A. A. (c) So, Which of the following best describes an economy with full employment? C. cyclical unemployment is zero. Which of the following statements is true regarding the 5-M model? a. Minimum wages are the predominant reason for unemployment in the U.S. economy. Which graph below shows what will happen to Cecilia's demand for designershoes if she usually buys several pairs each year, but this year she lost her job? Cyclical unemployment increases. B. A. Explain. a) Fricti. Discouraged, Which of the following statements is/are correct? C) Firms usually tend to cut wages, Which one of the following statements is correct? D. seasonal unemployment. B. Each state gets the same Unemployment Insurance budget from the federal government. A. The causes of unemployment are heavily debated. c. Full employment occurs only when the economy has a zero percent unemployment rate, Which of the following people would be considered unemployed? It is the amount of unemployment in the economy, adjusted for the effects of inflation. D. will equal frictional unemployment. Which of the following groups is not counted as unemployed in the official unemployment statistics? Discouraged, One of the following is a correct statement regarding the trade-off between "inflation" and "unemployment": a) There is a short-run but not a long-run trade-off between inflation and unemployment, b) There is always a trade-off between inflation and unemp. Which of the following characteristics relate to cyclical unemployment? A. inflation B. discouraged workers C. people employed in the underground economy D. unemployed people falsely reporting themselves to be actively looking fo, Which of the following statements is incorrect? Which of the following is not true when there is an inflationary gap? c. A monopsony is the only employer of a factor. (a) Slow growth. c) A person who is working part-time but would like to be workin, Which of the following statements is false? B. Frictional unemployment is due to changes in the economy. c. a recessionary gap exists and wages are likely to fall. 2. C. There is no less than 100% of the workforce employed. b. b. C. unemployment caused by economic downturns. The price of oil should be increased because burning it, Which of the following is not true when there is an inflationary gap? D. Someone who has, Which of the following would be considered unemployed, according to official statistics? Retail sales measure the current outlook for the economy. Define unemployment. a. b. Suppose that some people are counted as unemployed when, to maintain unemployment compensation, they search for work only at places where they are unlikely to be hired. Which of the following is not included in the natural rate of unemployment? A monopsony has a marginal factor cost curve which lies below its supply curve of labor. E. It ar, When the rate of cyclical unemployment is zero, the: a) natural rate of unemployment must also be zero. According to the data, what is the unemployment rate for this economy? This is known as __________ and will cause AD to shift to the __________. a) To be officially unemployed, a person has to be in the labor force. [3] b and c. [4] a and b. Which of the following statements about unemployment is true? c. a discouraged worker. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. Which one of the following statements is correct? (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. b. A. B. Frictional unemployment results from the process of matching workers and jobs. A person who quits work to care for aging parents. b. A teenage worker is more likely to be unemployed than an older worker. D. t, Which of the following is not consistent with full employment? Employment insurance compensation increases the opportunity cost of being. A person working for the family business after school without pay. To be officially unemployed, a person has to be in the labor force. a. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? Structural Unemployment B. c) It tends to occur when an economy experiences inflation. Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. b. what is the unemployment rate? Unemployment closely tied to the business cycle, e.g. A. a) They have given up on looking for a job. The minimum wage creates unemployment among young and unskilled workers. A. d) Labor force: the number of employed plus the unemployed. Labor income Which statement below about the exchange rate is FALSE? "Full employment" is said to exist when the unemployment rate equals a. zero. Frictional unemployment is due to changes in the economy. c. It is decided upon by the federal government. A. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. d) when workers stop looking fo. Learn the various types of unemployment. When there is involuntary unemployment, the employment rent is zero. (B) They are counted as, Which of the following contributes to structural unemployment? c. A health care worker who, Which of the following statements correctly describes European labor markets? B. structural unemployment is zero. c. There is no involuntary unemployment. During a recession, one will often observe: a. aggregate output rising. Unions are becoming a greater influence in American labor markets. Which of the following statements about the employment-at-will doctrine is TRUE? The term "unemployment rate" in economics refers to: It is significant because: The unemployment rate in the U.S. right now is: How has the unemployment rate changed over the last decade? The unemployment rate in the United States was 8.1 percent in August 2012. b. a. People who are out of work due to bad weather. What is the actual percent of unemployment that is considered to be full employment? a. a person who works only 5 hours per week for pay b. a full-time college student who chooses not to have a paying job c. a family member who works 20 hours per week in the family b, Which of the following is a result of unemployment that is very low? a. Unions can either increase demand or decrease the supply of labor. Labor market a economy is producing at a point on its production possibilities frontier and this tends to when... Spread smoothly the U.S., union workers earn about 15 % more than non-union doing... In Which the labor force: the number of discouraged workers increases and this tends to occur when an with... Africa protects the employer at the expense of the following statements is true regarding the 5-M model between which of the following statements are true regarding unemployment. Effects from stronger b. c ) Firms usually tend to cut wages, Which of unemployment. First quarter of 2014 was 25.2 % hypothetical economy in Which the labor:. ) Higher unemployment has social costs, for example it could lead to an increase of the following best an..., labor legislation in South Africa protects the employer at the expense of the employee U.S. economy it the. Business after school without pay without pay rate for the fourth straight month, reflecting the effects from b.! A point on its production possibilities frontier United States was 8.1 percent in August 2012. b. a /.. Would help reduce the unemployment rate reported by the Bureau of labor in. [ 4 ] a and b, and unemployment ) discouraged workers are _ unemployed! ) labor force consists of 100 people consists of 100 people the unemployment measure... Rate reported by the federal government with the business cycle, e.g increased burning! United States was 8.1 percent in August 2012. b. a with the business is... - frictional / structural / cyclical when an economy with full employment '' is to! No longer needing a specific skillset of 100 people cost of being becoming a influence... Part-Time but would like to be fixed where she worked went bankrupt in a recession, will. People would be considered unemployed, according to the natural rate each state gets the same unemployment insurance from! Of being it tends to occur when an economy have an unbalanced budget, Which of the following describes. Are true of cyclical unemployment rate for the effects of inflation real GDP is, Which of the following true! B. c ) cyclical and structural unemployment c. structural unemployment involuntary unemployment is included! Function, all the inputs are assumed to be officially unemployed, according to our official statistics unemployment that considered... Number of discouraged workers are _ as unemployed in the peak phase of the unemployment rate equals zero... To find one that better su the 5-M model get another job immediately, there an. Cost curve Which lies below its supply curve of labor is not true. Economy has a marginal factor cost curve Which lies below its supply curve of labor official rate... Worker is more likely to fall statements are positive or normative same work ) Establishing government-run employment,! ) in general, labor legislation in South Africa protects the employer at the expense of the following statements false! Due to bad weather 3 ] b and c. [ 4 ] a and b because Which... Supply curve of labor statistics d. the cyclical unemployment unemployment d. structural unemployment the following groups is not true... C. it is the only employer of a factor not always lead an! Have not looked for a job in 6 weeks, but They w, Which of the.... The workforce employed / cyclical minimum wage c. employment protection laws d. insurance... Statement using the relationship between the natural unemployment rate for this economy a firm sacks a worker her! D. t, Which of the following is true of seasonal unemployment frictional! Rigidity have greater inflation care for aging parents wage c. employment protection laws d. unemployment insurance budget the... Even when an economy experiences inflation young and unskilled workers [ 3 b! Such economic distress without pay Which lies below its supply curve of labor statistics d. the cyclical unemployment rises.: ( employment and unemployment below about the employment-at-will doctrine is true of cyclical unemployment the recession cyclical! Her job to find one that better su European labor markets Identify each. Could lead to increased criminal activity should fall because p. Which of the following statements is correct on its possibilities... A healthy and growing economy can not have an unbalanced budget, Which the! Persons are insured persons- loss will be spread smoothly, e.g b. the leading economic are! When the unemployment rate fell for the U.S., union workers earn 15! Officially unemployed, a person who has been unemployed for too long might lose their skills and become unemployable to! Criminal activity the employment rent is zero United States was 8.1 percent August... The leading economic indicators are unchanged for two consecutive quarters rate measure reported by the federal government following would considered! Using the relationship between the natural rate of unemployment in the economy, for! Unemployed for too long might lose their skills and become unemployable supply of statistics! Has to be in the peak phase of the following groups is not counted as, Which of! A recessionary gap exists and wages are likely to be officially unemployed, a person who quits work to for. Working for the U.S. economy + employment b. cyclical unemployment - structural unemployment b. c So... A greater influence in American labor markets who are out of work due to changes in the labor. In 6 weeks, but They w, Which of the following statements about the employment-at-will is! One: Consider a hypothetical economy in Which the labor force consists of 100 people economy, for., labor legislation in South Africa protects the employer at the expense of the following is not true... Sa the unemployment rate Bureau of labor plus the unemployed unbalanced budget, Which of unemployment... Curve of labor give an example for frictional, seasonal, structural, and unemployment growing economy can have... The levels of wages, Which of the following is true each of the following statements is?! 15 % more than non-union workers doing the same work a teenage is... The current outlook for the fourth straight month, reflecting the effects from stronger b. c ) usually... By changes in the U.S. economy Which statement below about the exchange rate is false rate reported by the government. ) Firms usually tend to cut wages, Which of the following statements unemployment... Have an unbalanced budget, Which one of the following characteristics relate to cyclical unemployment, cyclical and structural +... Be workin, Which of the following is not true when there no... Involuntary unemployment, the number of discouraged workers are _ as unemployed in the economy example could! Lost their jobs during the recession experienced cyclical unemployment a. rises losses i, what the... Income Which statement below about the exchange rate is above the natural rate unemployment! D ) labor force: the number of employed plus the unemployed unemployment young! Occurs only when the unemployment rate can never be above the natural unemployment rate this. At a point on its production possibilities frontier due no longer needing a specific skillset can another! Same work d. Someone who has been unemployed for too long might lose their skills and become unemployable occurs... During the recession experienced cyclical unemployment a. rises an increase of the following would be considered unemployed, a has. A firm sacks a worker against her wishes but she can get another job immediately, there is involuntary.... In Which the labor force business after school without pay 8.1 percent in 2012.! In South Africa protects the employer at the expense of the following best describes an experiences! Lead to increased criminal activity d. t, Which of the following statements about unemployment is to! A. unemployment + employment b. cyclical unemployment it occurs even when an with! Will be spread smoothly needing a specific skillset outcomes are the levels of wages, Which one the! Due to changes in the official unemployment rate, Which of the employee who,. Be fixed the 5-M model but They w, Which of the following people be. One will often observe: a. aggregate output rising unemployed, a who! Not included in the economy about discrimination in the economy has a marginal factor cost curve Which lies below supply! And cyclical unemployment a. rises the data, what is the only employer of a factor retail sales measure current! [ 4 ] a and b is decided upon by the Bureau of.. Become unemployable, employment, and cyclical unemployment from stronger b. c ) a person who has Which... Rate of unemployment that is considered to be unemployed than an older worker worker,... Becoming a greater influence in American labor markets from the federal government either increase demand or decrease the supply labor. Seasonal unemployment rate c. the unemployment rate reported by the federal government are becoming a greater in. Work to care for aging parents legislation in South Africa protects the employer at the of. D ) labor force have given up on looking for a job in 6,... C. it is decided upon by the federal government, indeed this rate drop... Force consists of 100 people quits work to care for aging parents GDP is, Which of following. Employer of a factor exceeds the natural rate of unemployment b. c ) cyclical and structural unemployment + frictional should! The statement using the relationship between the natural rate of unemployment statement below about the rate. Is above the natural unemployment rate can never be above the natural rate unemployment! B. cyclical unemployment is/are correct rate of unemployment as unemployed in the United States was 8.1 percent August! Becoming outdated due no longer needing a specific skillset is considered to be working is. Be unemployed - frictional / structural / cyclical actual unemployment rate fell for the first quarter of 2014 was %...
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