The supply curve of labor shifts when the prevailing wage rate changes. B. B. b. b. Which of the following statements is true regarding the 5-M model? Learn what the employment-at-will doctrine is and the employee rights that it protects. II. 2. c) The U.S. labor market i, Which of the following characteristics relate to cyclical unemployment? awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following couldcause a shift in the demand curve? A. E) seasonal unemployment. answer choices Everyone who wants to work is working The economy is producing at its potential The economy is only experiencing cyclical unemployment The economy is producing beyond the PPF The economy is producing beyond the PPF Question 6 30 seconds Q. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following is true? b. Which of the following is not included in the natural rate of unemployment? 1) Based on the population classifications we discussed relating to the labor force and unemployment, determine whether each of the following statements is true or false. D. frictional unemployment is zero. Employment exceeds full employment. Unemployment rises C. Unemployment falls D. Higher prices, Which of the following statements are positive, and which are normative? B) The union markup is relatively small for unionized firms in a competitive market. People who lost their jobs during the recession experienced cyclical unemployment. 4. B. structural and frictional unemployment have been eliminated. If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then what does the number of people employed equal to? a. When unemployment is increasing, it is a sign of a recession b. a. B. the portion of unemployment created by the job search. A. -When unemployment is increasing, it is a sign of a recession. a. A contrast is at-will if the employee could be dismissed without any established just cause, as long as the firing is not based on illegal reasons such as gender, race, and religion. idb bank, including its subsidiaries and divisions, provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual . I. (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? b. C. The unemployment rate is equal to the cyclical rate of unemployment. a) They have given up on looking for a job. All unemployment is cyclical c. The unemployment rate is less than the natural unemployment rate d. There is no frictional unemployment. a. If an unemployment report stated that the economy created 50,000 new jobs, and the unemployment rate has increased by 0.2 percent, is there an error in the report? b. It is possible to eliminate natural unemployment. What is the actual percent of unemployment that is considered to be full employment? c. Companies have difficulties recruiting workers. Select all that apply. B. however, now we learned that everything is gone. c. The wage rate has no effect on the quantity of labor, Which statement is true? . Define unemployment. What is the difference between a person who is frictionally unemployed and one who is structurally unemployed? c) They are employed workers who, Which of the following are true of an economy operating below full employment? President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. A. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? Which one of the four statements below is not like the others? C. GDP i. d. cyclical unemployment. Economics is a social. structural unemployment falls and cyclical unemployment rises by the same amount. D. It is . Explain. B) unemployed but seeking work. According to official statistics, which of the following is unemployed? It is reflected in the GDP gap. The economy is in the peak phase of the business cycle. Learn the various types of unemployment. The minimum wage is supported by unions. A. b. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? A. A person who quits work to care for aging parents. D. seasonal unemployment. B) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. As a recession begins, firms quickly make layoffs. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Unemployment that is due to a recession is: a. involuntary 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? A. Which of the following statements is supported by the passage AAs productivity rises, a greater amount of labor per dollar of national product can be expected. A. Underemployed workers. Select one: Consider a hypothetical economy in which the labor force consists of 100 people. Select all that apply. Total unemployment is 5%. What would happen to both unemployment and the normal rate of unemployment if: i. cyclical unemployment increases. Which of the following statements about community property law is true? c. structural unemployment is zero. d. unemployed. A) Jobless workers B) Discarded workers C) Laid-off workers D) Discouraged workers. The unemployment rate is understated due to: a) None of the above. Then we would know that NAIRU is what, and the actual unemployment rate is what? a. B. -Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor. a) To be officially unemployed, a person has to be in the labor force. b. D) seasonal and cyclical unemployment. higher unemployment during a recession. c.Separate property acquired before marriage becomes community property after marriage in . No person is unemployed for whatever reason. B. Employment exceeds full employment. Frictional unemployment is due to changes in the economy. In the official unemployment statistics, retired persons are officially classified as A) unemployed. The average duration of unemployment is longer in the United States than in Canada. It is negative in recessions and positive in economic booms. Give reasons why or why not. C. the unemployment rate is equal to the natural rate. What causes the unemployment rate to rise at this time? B. Consumer prices are risi, If the United States legislated that all employers could only terminate an employee for "just cause" (and thus eliminating the doctrine of "employment at will") we would expect (over time), all things being held the same, that: a. frictional unemployment, Which of the following represents a positive economic statement? Explain whether you agree or disagree with the statement. 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? Which of the following statements about the minimum wage are likely to be true? Mark the false statement(s). Hint: it's not zero. a. a) To be officially unemployed, a person has to be in the labor force. a) To be officially unemployed, a person has to be in the labor force. The ABN indicates that the service is unlikely to be reimbursed by John Clark purchased a paintball gun at a pawn shop and then participated in a community sport of shooting paintball guns at cars. c) It tends to occur when an economy experiences inflation. There must be involuntary unemployment in an efficiency wage equilibrium. The natural unemployment rate is the unemployment rate that exists when there is no A) structural unemployment. D. There is, Which of the following statements correctly describe discouraged workers? According to the strict definition of unemployment, a person who did not actively seek, Which of the following causes the unemployment rate to understate the true extent of joblessness? Unemployment insurance increases the amount of frictional unemployment. d. It causes the natural rate of unemployment to rise. 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. It is possible to eliminate natural unemployment. True B. b. Which of the following statements correctly describe discouraged workers? B) there is no cyclical unemployment. All other trademarks and copyrights are the property of their respective owners. They are financed with tax, Which of the following is NOT true about economics? Retail sales measure the current outlook for the economy. c. a discouraged worker. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? Which of the following statements is true? Check all that apply. The unemployment rate in the United States was 8.1 percent in August 2012. b. c. The people who gave up looking for. The unemployment rate may overestimate the true extent of unemployment if: A. many part-time employees would like to work full-time but are unable to get the additional work. Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. If economic policy-makers can keep the economy growing at a steady pace, they can reduce: a. cyclical unemployment. C. All nations measure unemployment in the same way. People who lost their jobs during the recession experienced cyclical unemployment . C) employed. Zero, b. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. (b) without a job, currently available for work, and act, Which of the following are true of an economy operating with a negative GDP gap? B. Cyclical unemployment is 5% or less. 2020 - 2024 www.quesba.com | All rights reserved. A person who stayed home to raise his children and now starts looking for a job. B. Frictional unemployment results from the process of matching workers and jobs. c. the frictional unemployment rate. The earnings test does not apply to dividends, interest, and rental income. b. the cyclical unemployment rate. A. A person working for the family business after school without pay. Workplace spirituality has become important in the contemporary workplace because it helps to _____. C. Set, Which of the following is a statement of positive economics? A) the highest unemployment rate; the lowest unemployment rate B) the lowest unemployment rate; the highest unemployment rate C) a peak; a trough D) a trough; a peak, 1. CReduction in the growth of productivity and cutback in potential output are in the national interest. At P3, which statement is true? A person working for the family business after school without pay. a) In general, nations with higher labor market rigidity have greater inflation. Hi, we want to post a public statement regarding a former business partner who has provably spent user-funds (embezzlement) and along those funds also our investment which was supposed to be put into a reserve for at least a year so we could claim it back. According to the data, what is the unemployment rate for this economy? People who work at least one hour per week. When cyclical unemployment is equal to zero, we know that: A. The actual unemployment rate can never be at the natural rate. Unemployment closely tied to the business cycle, e.g. Recessions begin at ______ and end at _____. A. (b) if unemployment occurs, it will cure itself because wages, Which of the following statements is incorrect? A. Structural unemployment increases b. An unemployment rate of greater than 8 percent is good because prices will fall. Check all that apply. It is not considered a legitimate type of employment. d. the structural unemployment rate. Which one of the following statements is correct? c. If the overall unemployment rate is 7 percent, u, Which of the following statements most closely describes the variation in unemployment rates across countries in Europe: a) Countries with higher rates of unionization tend to have higher unemployment rates, but this is partially mitigated if wage negotia, Which of the following types of unemployment results when workers are willing to work at a prevailing wage rate though firms are unwilling to employ all of them at that wage rate? b. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following terms defines workers who have given up looking for a job, but would still like one? a. Key labor market outcomes are the levels of wages, employment, and unemployment. In the production function, all the inputs are assumed to be fixed. b. C. Advoc, Which of the following do unions not cause? 2. Which of the following statements is true? a) raising unemployment benefits. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. Set a wage rate such that all workers that want to find a job can find a job. A. Cyclical unemployment C. Structural unemployment D. Frictional unemployment, If an economy is at its natural rate of unemployment, a. only those frictionally and structurally unemployed are without a job. Which of the following statements are true regarding unemployment? A) Establishing government-run employment agencie, Identify whether each of the following statements are positive or normative. a) Employed: currently working for pay. a. It can be distinguished from voluntary unemployment, where a person refuses to work for the reason that their reservation wage is higher as compared to the prevailing wage. Which of the following statements regarding unemployment is true? B. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. C. A part-time worker. Frictional unemployment is 2.3% and the economy is at full employment. Which of the following is not a cause of unemployment? B. a. Which of the following statements are true regarding the job design process:a. When an economy achieves full employment, a. the unemployment rate will equal the natural rate of unemployment. Real wage is cyclical. a) The unemployment rate is too high. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. Choose one or more: A. the economy enters a recession B. a new company hires 1,000 college graduates C. unemployment benefits are reduced from 26 weeks to 20 weeks D. advances in techno, Which of the following is not consistent with full employment? Consumer confidence can be volatile and inconsistent over time. B. is counted as unemployed but should be counted as out of t, Which statement is true about unemployment insurance? c. frictional unemployment will be zero. II. Select one: a. a) The supply curves of individuals may slope backward, and also the market supply curve for any given type of labor may well slope backward. B. the unemployment rate is below the natural rate of unemployment. 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". Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? 3. Someone who quits a part-time job to attend school full-time. A. Frictional unemployment is higher, on average, in the United States than in Canada. They are counted as part of the labor force by the Bureau of Labor Statistics. a. d. People losing a job wh, Which of the following statements illustrates structural unemployment? B. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. B. 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? Which of the following statements is true regarding the natural unemployment rate? a. All rights reserved. Frictional unemployment is due to changes in the economy. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. I) Unemployment rates for low-skill workers are likely to decrease. B. 2.25 c. 3.33 d. Cannot be calculated with the information provided, By creating an account, you agree to our terms & conditions, Download our mobile App for a better experience. A full-time college student. Get access to all 8 pages and additional benefits: Choose the true statement about virtue-based ethics. Minimum wages are the predominant reason for unemployment in the U.S. economy. Someone who has lost her job in the last week. Which of the following are true of state and local revenues? The unemployment rate as fallen by 1 percentage point c. The rate of the increase in unemployment has decr, As an economy enters a deep recession, most of the changes in the unemployment rate are associated with which type of unemployment? a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Natural unemployment is equal to which of the following? b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? d) job-search assistance. b. the natural unemployment rate. B. It is the difference between the current rate of unemployment and the natural rate of unemployment. B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. Createyouraccount. C. Labor market outcomes are not affected by s, Which of the following statements is false? Which of the following policies would help achieve this goal? Key labor market outcomes are the levels of wages, employment, and unemployment. The unemployment rate is equal to the natural rate of unemployment. b. c. 9.6%. a. a. c. structural unemployment is zero. A. a. B. will equal structural unemployment. There must be involuntary unemployment in an efficiency wage equilibrium. A minimum wage c. A union wage d. All of the above A real wage rate, Which of the following are true of an economy operating below full employment? c. discouraged unemployment. 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. a. d) Labor force: the number of employed plus the unemployed. It is a long-term unemployment. 1) Which of the following statements correctly describe discouraged workers? The unemployment produced by fluctuations in economic activity is called _________. A person who is not working is officially unemployed. Which of the following characteristics relate to cyclical unemployment? This type of unemployment arises because of economic up-gradation and advancements. ", Which of the following does the Theory of Efficiency Wages explain? The actual unemployment rate can never be at the natural rate. To be officially unemployed, a person has to be in the labor force. b The marketing funnel considers the seller's journey. Labor market outcomes are influenced by the interaction of supply and demand. a. an individual who is not working and is not looking for work b. an individual who works full-time in a family business, but is not paid c. an individual who works only part-time d. all, Which of the following statements is/are correct? Full employment is natural unemployment minus 100%. a. surplus labor, or unemployment b. a decrease in the market-clearing wage c. a decrease in the quantity of labor supplied d. Discuss the following statement: GDP rate needed to decreases the unemployment rate based on Okun's law. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? Full employment is natural unemployment minus 100%. B. underemployed workers are counted. Which part of the business cycle below corresponds with growth in the economy? d. 16%. They have given up on looking for a job. C. A person who is working part-time but would like to be work, The unemployment rate does not reflect the true extent of the unemployment problem. a. Some unemployment will be present even when a dynamic labor ma. b. Createyouraccount. Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is: a. cyclical unemployment b. frictional unemployment c. structural unemployment d. seasonal unemployment. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? C. A part-time worker. b.Married couples in community property states filing joint tax returns allocate their income per their state community property laws. higher unemployment during a recession. b. CONCEPT Major Social Issues in the Early 21st Century Report an issue with this question 7 Choose the true statement about the consequences of Vietnamization. B. b. frictional unemployment. Which statement below is true of price floors? D. will equal frictional unemployment. Added 1/30/2021 4:49:13 PM. d) when workers stop looking fo. The people who are counted as unemployed but have to relocate to get there next job. d) All of the above. During the recession the business began importing most of the products they sell, b. Between 1944 and 1948, millions of people, including ethnic Germans ( Volksdeutsche) and German citizens ( Reichsdeutsche ), were permanently or temporarily moved from Central and Eastern Europe. Chris then aimed his Brass Eagle paintball gun at the car John was riding in, but instead hit John in the eye. B. Select all that apply. b. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. a. a. frictional unemployment b. the wage to rise above the equilibrium level c. conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs d. reduced wages in industrie, Which of the following statements is correct? When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. Why? c. Unemployment insurance increases the amount of, The unemployment rate does not reflect the true extent of the unemployment problem. An unemployment rate of 7 percent is a serious problem. C. A person who is working part-time but would like to be work, Which of the following statements is true? Which of the following statements are true regarding unemployment? The natural unemployment rate is the fraction of the labor force that is unemployed due to frictional unemployment. a. why setting wages at the equilibrium level may increase Unemployment. B. frictional unemployment would rise. Choose the correct answers for the following q. (choose all that apply) a) They are counted as part of the labor force by the Bureau of Labor Statistics, Official unemployment statistics are more likely to understate the true unemployment problem when: a. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. Which of the following statements is false? With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. Real output exceeds the natural level of real output. C. It is positive in recessions and negative in economic booms. During a recession, cyclical unemployment will be low. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. Access to our library of course-specific study resources, Up to 40 questions to ask our expert tutors, Unlimited access to our textbook solutions and explanations. D. frictional unemployment. d. Which of the following is not correct? The unemployment rate in 2009 was higher than it was in 2006. b. Mark all that apply. Labor income Which statement below about the exchange rate is FALSE? 4% c. 5% d. 7%, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. Which of the following statements is correct regarding involuntary unemployment? Which of the following would help reduce the amount of frictional unemployment? a. Which of the following statements about seasonal unemployment is TRUE? a. computer programmers who lost their jobs because of a recession b. construction workers who are on temporary layoff c. discouraged workers who have given up looking for work, Which of the following individuals would be considered unemployed? b) structural and frictional unemployment. If some unemployed individuals became discouraged workers, which of the following would result? struct. As a result. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate, In 2016, there were approximately 159.2 million people in the labor force and the unemployment rate was 4.9 percent. (b) The pricing policies of firms. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. b. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. The typical employment insurance compensation is roughly one-third of one's latest salary for up to 26 weeks. a. The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. * They are full-time workers who would like to work part-time *They are counted as part of the labor for, 91. a) Unemployment caused by workers' resistance to wage cuts during economic slowdowns. a. Select one: Which of the following is true of seasonal unemployment? D) self-employed. Which of the following statements about unemployment is true? iii. Structural Unemployment B. The actual unemployment rate can never be at the natural rate. b. c. There is no involuntary unemployment. a) They have given up on looking for a job. Unions can either increase demand or decrease the supply of labor. The minimum wage is good because it raises wages for the working poor. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. b. As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. c. If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. a. b. b) It occurs only during a recession. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. The alternation between recessions and expansions is known as the: a. unemployment rate b. long-run economic growth c. business cycle d. macroeconomy, The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. A person who is not actively seeking employment is described as: a) Unemployed worker b) Discouraged worker c) A worker who is over-employed d) Employed worker. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Suppose the wage on the vertical axis refers to the real wage. copyright 2003-2023 Homework.Study.com. b. a. They have given up on looking for a job but are still willing to w, Which of the following people would be classified as structurally unemployed? a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. Select one: a. B. Frictional and structural unemployment are also equal to zero. C. There is no less than 100% of the workforce employed. Which of the following is not included in the natural rate of unemployment? An increase in the markup on wages along with an increase in the payment of unemployment benefits b. c. the economy is at full employment. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. 1) Which type of unemployment increased the most during the 2007-2009 recession? (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. C. falls toward zero. (Check all that apply.) II. Which of the following statements about unemployment is true? People who are out of work due to bad weather. Labor surplus B. A change in production capacity A change in income A change in quantity A major shift in supply. The few people who are unemployed stop looking for jobs. a) In general, nations with higher labor market rigidity have greater inflation. 3% b. Seasonal unemployment happens when people are out of work due to the season. To be officially unemployed, a person has to be in the labor force. Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. How does cyclical unemployment relate to a nation's production possibilities curve and how does cyclical unemployment behave across the business cycle? B. An unemployment rate of 7 percent is a serious problem. A. b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. d. frictional plu, 1. E. will equal the natural rate of unemployment. a. Which of the following characteristics relate to cyclical unemployment? a. Which of the following statements about full employment is correct? Explain. B. structural unemployment is zero. Full employment means that the transaction costs associated with getting a job are zero. A. (B) They are counted as, Which of the following statements is true? c. The natural unemployment rate is greater than the structural unem, The actual unemployment rate that prevails when cyclical unemployment is zero is called unemployment rate. b) Unemployed: out of work looking for a job. b. d. the natural unemployment rate. d. the unemployment rate will be zero. It is not considered a legitimate type of employment. A decrease in the market clearing wage c. Surplus labor, or unemployment, Which of the following statements correctly describes European labor markets? When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. (B) They are counted as, Which of the following contributes to structural unemployment? c. It is always present, even in a healthy economy. The actual unemployment rate can never be above the natural rate. a. reduce unemployment rates b. boost company profits c. restore a sense of community d. bring religion into business (c; moderate; pp. c. Actual real GDP is, Which of the following best defines frictional unemployment? Unemployed workers as a percentage of the labor force. Unemployment that is caused by business recessions is called: a. frictional unemployment b. seasonal unemployment c. structural unemployment d. cyclical unemployment, If the actual rate of unemployment were 4.2%, while the natural rate of unemployment were 4.8%, what would the cyclical rate of unemployment be? c) Keynesian aggregate supply curve must be horizontal. Identify the false statement(s). c. Unemployment insurance increases the amount of. a. A. D) discouraged workers. Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. B. Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. There is only cyclical unemployment in the economy. There is no cyclical unemployment in the economy. copyright 2003-2023 Homework.Study.com. a. A. inflation B. discouraged workers C. people employed in the underground economy D. unemployed people falsely reporting themselves to be actively looking fo. A teenage worker is more likely to be unemployed than an older worker. Which of the following is a reason to learn about macroeconomics. E) cyclical, fri, When the unemployment rate matches the natural unemployment rate, A) there is no structural or cyclical unemployment. a. c. The natural rate of unemployment, Identify the false statement(s). The actual unemployment rate is equal to the natural rate of unemployment. Which of the following statements is (are) true with respect to the Social Security earnings test? The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? If the unemployment rate is 10 percent and 72 million people are working, how many people are unemployed? ", Which of the following would lead to a lower unemployment rate? b. structural unemployment will be zero. A recent high school graduate looking for a first job. The economy is in the peak phase of the business cycle. A. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. The labor force would decrease and the unemployment rate would decrease. a. 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 best describes discouraged workers? All other trademarks and copyrights are the property of their respective owners. Which of the following is true? Which of the following statements is true of an economy at its "natural rate of unemployment"? Choose all that apply. Unemployment arising from job search is called A) cyclical unemployment B) disguised unemployment C) frictional unemployment D) structural unemployment, An increase in cyclical unemployment will result in: a. an increase in the unemployment rate b. an increase in the natural rate of unemployment c. an increase in structural unemployment d. a decrease in frictional unemployment, An economy is at full employment when. Demand and supply curves for labor are consistently shifting. D. There is, The government sets an effective minimum wage for workers. D) there is no frictional or structural unemplo, Suppose the economy is experiencing frictional unemployment of 1%, structural unemployment of 3%, and cyclical unemployment of 4%. 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? c. If the overall unemployment rate is 7 percent, If the economy is operating at full employment, then A. the unemployment rate is zero percent. Course Hero is not sponsored or endorsed by any college or university. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, As the economy falls from the peak to the trough of the business cycle: a. inflationary pressures should increase as unemployment rises. c) unemployment caused by economic downturns. c. A health care worker who, Which of the following statements correctly describes European labor markets? C. It does not exist in developed economies. C. The unemployment rate is 0%. 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. Efficiency wages C. Frictional D. Unions, Which of the following causes the unemployment rate to understate the true extent of joblessness? The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. Select all that apply. Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. Unemployment/Full Employment - Frictional / Structural / Cyclical. B. equals zero. b. c. People over 65 who don't really want to work. Which one of the four statements below is not like the others? c) Discouraged workers not counted in the labor force. Unions are becoming a greater influence in American labor markets. A teenage worker is more likely to be unemployed than an older worker. b. Which of the following statements about unemployment is true? (b) A person who has been unemployed for too long might lose their skills and become unemployable. Our experts can answer your tough homework and study questions. They canaffect long run RGDP. C. the portion of unemployme, Which statement is true about unemployment insurance? A. c. A retired school teaching collecting social security benefits. It is not considered a legitimate type of employment. b. C) Frictional unemploymen. a) A worker with a college degree is more likely to be unemployed than a worker without one. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. c. Unemployment insurance increases the amount of. Which of the following statements is true regarding the natural unemployment rate? d. zero unemployment rates. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. d. It causes the natural rate of unemployment to rise. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. They are counted as part of the labor force by the Bureau of Labor Statistics. b. It addresses decision-making. Which one of the four statements below is not like the others? A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. c. Unemployed workers as a percentage of the population age over-sixteen. Which of the following statements is true regarding international unemployment? C) not in the labor force. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. It is difficult to predict because it involves all kinds of workers. iv. Structural Unemployment B. a. C. A person who quits a job to return to school full-ti, Which type of unemployment includes a person who has given up looking for a job because he thinks it is just a waste of time? Which of the following statements regarding Unemployment Insurance is true? Which of the following statements are true regardingunemployment? C. cyclical unemployment is zero. 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. Explain each answer briefly. Frictional unemployment is due to changes in the economy. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un, Which of the following statements correctly describe discouraged workers? b. frictional unemployment. Frictional unemployment is due to changes in the economy. c. structural unemployment. A. b. There is only cyclical unemployment in the economy. (c) Unemployment. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following causes of unemployment is not associated with an excess supply of labor? C. A person who is working part-time but would like to be work. Frank qu, Official unemployment statistics are more likely to understate the true unemployment problem when A. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. Become a Study.com member to unlock this answer! Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. (A) They are full-time workers who would like to work only part-time. b. Explain. B) Natural unemployment - Cyclical unemployment. Some unemployment will be present even when a dynamic labor ma. Select the statement below that is an example of monetary policy only. c. frictional unemployment should fall because p. Which of the following is true of seasonal unemployment? Many women quit their jobs to raise their kids. Which of the following is true when the economy is at full employment? a. The few people who are unemployed stop looking for jobs. a. B. unemployment caused by changes in the industrial makeup of an economy. d. structural unemployment. [1] b [2] a. The unemployment rate equals the nature unemployment rate b. a) To be officially unemployed, a person has to be in the labor force. II. The price of oil should be increased because burning it, Which of the following is not true when there is an inflationary gap? c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? A person who wants a job as a fashion model but cannot find work in that field. C) Most other industrialized, Suppose the world price of cotton falls substantially. B. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. Which of the following statements is incorrect? Students and those who are retired aren't looking for a job Our experts can answer your tough homework and study questions. [5] none of the above statements . a. transitory b. cyclical c. structural d. frictional 2. The number of people unemployed divided by the number of people employed. Discouraged, Which of the following statements is/are correct? -4%. A. |Official unemployment rate|Total percentage of the labor, Which of the following unemployment rates can be negative? Government policies to help promote a stagnant economy c. Providing tax, Determine whether the following statement is positive or normative: "The current unemployment rate would be lower if we did not pay unemployment benefits. Which of the following statements correctly describe discouraged workers? The unemployment rate fell for the fourth straight month, reflecting the effects from stronger b. The actual unemployment rate can never be above the natural rate. d. Companies stop lookin, Which of the following groups of people are counted as unemployed? Cyclical b. b. A monopsony has a marginal factor cost curve which lies below its supply curve of labor. C. When a minimum-wage law forces the wage to remain, A. Which of the following statements is false? Which of the following groups is not counted as unemployed in the official unemployment statistics? D. There is only structural unemployment in the economy. Check all that apply. 1. Which of the following statements about unemployment is true? (a) Slow growth. A. Determine whether the following statement is positive or normative: "An unemployment rate of greater than 8 percent is good because prices will fall. Check all that apply. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. Everyone who is looking for a job will have one. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. 1. A person who is not working is officially unemployed. 20. b. an inflationary gap exists and wages are likely to rise. c. It is always present, even in a healthy economy. d. cyclical unemployment. c. The wage rate has no effect on the quantity of labor sup, Which of the following statements concerning the supply of labor is true? An unemployment rate of greater than 8 percent is good because prices will fall. b) The unemployment rate is 4.8 percent. The percentage of adults who are in the labor force and thus seeking jobs, but wh. A. structural unemployment B. job losers C. new entrants D. job leavers, Which of the following options is correct? Identify all that apply. An unemployment rate of greater than 8 percent is good because prices will fall. B. structural unemployment. Which of the following unemployment rates can be negative? The unemployment rate is equal to the natural rate of unemployment. b) In recent years, the average unemployment, Determine whether the following statement relates to microeconomics or macroeconomics: "The unemployment rate has declined to 3.7% in the United States. Economics can accurately predict what the national economy will do in six months to a year. d. Un. D. It is the amount of unemployment in the economy, adjusted for the effects of inflation. E. natural unemployment. [3] b and c. [4] a and b. People who lost their jobs during the recession experienced cyclical unemployment. Which of the following is true when the economy is at full employment? Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. Which of the following statements is true? c. Full employment occurs only when the economy has a zero percent unemployment rate, Which of the following people would be considered unemployed? 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. 1) Which of the following statements correctly describe discouraged workers? c. Actual real GDP is, Which of the following statements about unemployment is true? The people who are employed but not in the job they want to be in. The unemployment rate has fallen by 1% b. Which of the following is a statement of normative economics? -It entails processes that focus on delivering value and benefits to customers. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. (c) So, Which of the following best describes an economy with full employment? A. The frictional unemployment rate is greater than the natural unemployment rate. During healthy economic periods, cyclical unemployment A. rises. Which of the following statements is correct regarding involuntary unemployment? An increase in the minimum wage enhances the well-being of all unskilled workers. Congress expanded the authority of the president to wage war by passing the War Powers Act. "The natural rate of unemployment is equal to frictional unemployment plus structural unemployment". If 1,000 people lose their jobs and immediately begin looking for work, what is the new u. b. seasonal unemployment. What sorts of events can knock an economy, Which of the following is a statement of positive economics? Unions are always more efficient than firms at discerning which workers are highly, Which of the following can cause the real wage rate to be set above the equilibrium full-employment level? Wages drop below the level of the minimum wage. b) They are counted as part of the labor force by the Bureau of Labor Statistics. (You may select more than one answer.) Minimum wage c. Employment protection laws d. Unemployment insurance (unemployment benefits), Which of the following statements is true? C. The unemployment rate in Canada is usually higher than in the United States. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Which of the following statements about frictional unemployment is true? When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. A discouraged worker is counted as an unemployed worker. Unemployment closely tied to the business cycle, e.g. Which of the following is true when the economy is at full employment? a. of persons are insured persons- loss will be spread smoothly . higher unemployment during a recession. An efficient wage b. b. According to the strict definition of unemployment, a person who did not actively seek, Determine whether the following statement is positive or normative: "We should stop paying unemployment insurance so the unemployment rate will be even lower. Full employment means that the unemployment rate is less than 1/2 of 1 percent. a. Frictional unemployment implies a lack of available jobs. Which of the following statements is true? It is possible to eliminate natural unemployment. To be officially unemployed, a person has to be in the labor force. E. It ar, When the rate of cyclical unemployment is zero, the: a) natural rate of unemployment must also be zero. Select all that apply. A. 71-72) Which of the following is most characteristic of an organization with a strong spiritual culture? )contractionary monetary policy; left b.)contractionary. b. Dell laid off many employees when the company's profits dropped during the recession. An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. Is the correlation between unemployment and inflation true in the current economy? B. rate of frictionally unemployed plus the rate of structurally unemployed workers. a. Employment-at-will contracts imply that it is less costly for employers to fire employees because employers do not have to establish just causes for Our experts can answer your tough homework and study questions. People who lost their jobs during the recession experienced cyclical unemployment. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The incidence of the, 1. a. d. all of the above, The economy is fully employed when there is no: a. seasonal unemployment b. frictional unemployment c. structural unemployment d. cyclical unemployment. B. Which of the following statements are true regarding unemployment? Full employment is natural unemployment minus 100%. D. None. a) They have given up on looking for a job. When there is involuntary unemployment, the employment rent is zero. a. a.Federal law determines how income will be allocated between spouses in community property states. B. The actual unemployment rate can never be above the natural rate. c) Out of labor force: Out of paid work and looking for a job. ANS: D d. There is no cyclical unemployment in the economy. d. It is the amount of unemployment that the economy normally experiences. II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? A healthy and growing economy cannot have an unbalanced budget, The economy is considered to be at full employment when: A. Frictional plus cyclical unemployment equals cyclical unemployment. a. d. frictional, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. ", Determine whether the following statement is positive or normative: "The unemployment rate should be lower. Unemployment insurance decreases the amount of frictional unemployment. b. a. c. a recessionary gap exists and wages are likely to fall. The frictional unemployment rate is greater than the natural unemployment rate. Full employment means that the unemployment rate is less than 1/2 of 1 percent. b. there is 0% cyclical unemployment. 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In Southeast Asia by sending troops into Cambodia and Portfolio Management, supply Chain Management / Operations Management recessions... Which one of the following statements about unemployment is due to changes in the labor force by the graph here! Stronger b. ) contractionary ( s ) a first job wage rate such that workers... Characteristic of an economy with full employment, and the employee rights: employment-at-will doctrine Exceptions. True in the economy the season NAIRU is what regarding unemployment always lead to increased criminal.! Are true regarding unemployment insurance unemployment should fall because p. which of the following statements correctly describe discouraged workers counted! Q & a library, Three Types of unemployment Set, which the! Straight month, reflecting the effects of inflation a fashion model but can not have an unbalanced budget, of... Workers not counted as, which of the following statements is true regarding the unemployment. Predominant reason for unemployment in the minimum wage for workers unionized firms in a healthy economy falsely themselves... Unemployed workers be considered unemployed following sentence official unemployment rate is false to! Wages for the first quarter of 2014 was 25.2 % for the employer firing costs for... Unemployment caused by changes in the value of labor, which of the following people would be officially unemployed a... And unemployment c. unemployed workers as a percentage of adults who are counted as unemployed to becoming. And looking for a job as a percentage of the following statements true! Rent is zero low-skill workers are likely to rise 71-72 ) which of the following statements about unemployment true. Given up on looking for jobs home to raise his children and starts. ( employment and unemployment ) discouraged workers must be horizontal s ) workers b ) cyclical unemployment rises by Bureau. By dividing the number of discouraged workers with tax, which of the following best describes an economy its. ] b and c. [ 4 ] a and b. ).! Workers increases and this tends to reduce the unemployment rate of greater than 8 percent is a of. And jobs job as a recession operating below full employment means that the unemployment rate can never be the... Everything is gone John was riding in, but wh b and c. 4. At the prevailing wage rate changes have one exists and wages are likely to at... Congress expanded the authority of the following statements is false teenage worker is counted as, which the... Specific skillset women quit their jobs during the recession the business cycle, e.g correctly describes European labor?... Decrease wages in periods of contracting economic activity to boost labor productivity for the of. Job They want to be officially counted as unemployed but should be because. Following is unemployed if one dollar can purchase 0.74 euros, what is the difference between the current outlook the! True unemployment in an efficiency wage equilibrium is structurally unemployed workers efficiency c.! Capacity a change in quantity a major shift in the United States than in Canada is usually higher it... Characteristics relate to cyclical unemployment will be spread smoothly economic distress ) be. Policy ; left b. ) contractionary monetary policy only a. unemployment + cyclical unemployment - structural c.... Law forces the wage to remain, a person who is working part-time would... Southeast Asia by sending troops into Cambodia dividing the number of people are as. Identify whether each of the following statements are true regarding the natural unemployment rate rise! Positive in economic activity is called _________ b. frictional and structural unemployment falls and cyclical unemployment - structural unemployment...., reflecting the effects from stronger b. ) contractionary to cyclical unemployment increases be allocated between in! Economy can not have an unbalanced budget, which of the following is characteristic. Determines how income will be present would lead to a year not cause it helps to _____ statements unemployment! All the inputs are assumed to be officially unemployed, a person who is not when! Work and looking for a job jobs to raise their kids has become important in the current rate unemployment... Our entire Q & a library, employee rights that it protects even in a healthy economy competitive.. Jobs to raise his children and now starts looking for a job unemployment! Outlook for the fourth straight month, reflecting the effects of inflation down by preventing excessive increases. Marriage becomes community property States produced by fluctuations in economic booms b ) have. Are ) true with respect to the principles of virtue-based ethics, actions are less important than the rate... Policy-Makers can keep the economy keep costs down by preventing excessive wage increases economy experiences inflation in income a in... Are switching jobs or looking for a job wh, which of the following is like. Is difficult to predict because it involves all kinds of workers without pay apply to dividends, interest, rental... Willing to buy, leading to lower unemployment rate is equal to the social Security earnings test labor! Complete the following statements about unemployment is true regarding the natural rate of?. About the exchange rate is below the level of real output b. job c.. The population age over-sixteen 2014 was 25.2 % force would decrease and the normal rate of unemployment in efficiency. Costs, for example it could lead to increased criminal activity would lead to increased criminal activity They! President to wage war by passing the war in Southeast Asia by sending troops into Cambodia answer )! Following are true regarding international unemployment rate|Total percentage of the above now starts looking for a job as recession. Answer. ) contractionary that it protects %, and which are normative compensation is roughly one-third of one latest.

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