structural unemployment falls and cyclical unemployment rises by the same amount. I. A person working for the family business after school without pay. d. A homemaker contributing 15 hours, Which of the following statements correctly describe discouraged workers? C. the unemployment rate is above the natural rate of unemployment. c. a person does not have a job, regardless of whether or not they want one. a. A. It reflects unemployment when an economy is in "full employment". a. c) Out of labor force: Out of paid work and looking for a job. Either way, we want to make sure this statement wont have the risk to get us sued for . b) considered underemployed. The federal government may lend money to states which come up short in providing these benefits One does not need to be actively looking for work to receive benefits c. frictional unemployment will be zero. The percentage of adults who are in the labor force and thus seeking jobs, but wh. c) They are employed workers who. A. D. It is also called structural unemployment. B. Cyclical unemployment arises during the depressionary and recessionary phase of the business cycle. b. what is the unemployment rate? Which of the following policies would help achieve this goal? Cyclical unemployment increases. Someone who has lost her job in the last week. The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. b. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. People who work at least one hour per week. b. 37,194,541. c) Discouraged workers not counted in the labor force. c. a recessionary gap exists and wages are likely to fall. 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 statements is false? Choose all that apply. Which of the following statements about the employment-at-will doctrine is TRUE? A. Which of the following terms is the sum of all final goods and services purchased in an economy? (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? d. People losing a job wh, Which of the following statements illustrates structural unemployment? b. the leading economic indicators are unchanged for two consecutive quarters. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Which of the following statements correctly describe discouraged workers? b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. 1. Which of the following statements regarding unemployment is true? b. The minimum wage creates unemployment among young and unskilled workers. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. Get access to all 8 pages and additional benefits: Choose the true statement about virtue-based ethics. 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? The price is too high, sosuppliers want to produce less than consumers want. Createyouraccount. a) They have given up on looking for a job. B. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. An unemployment rate of 7 percent is a serious problem. a. It is difficult to predict because it involves all kinds of workers. b. cyclical unemployment should increase and real GDP should decline. Learn the various types of unemployment. Which of the following is true when the economy is at full employment? Which of the following groups is not counted as unemployed in the official unemployment statistics? Key labor market outcomes are the levels of wages, employment, and unemployment. 1/10 higher unemployment during a recession. C. structural unemployment. Some unemployment will be present even when a dynamic labor ma. Explain each answer briefly. It is the type of unemployment associated with d. Which of the following people would be classified as unemployed? Which of the following statements is true? All rights reserved. Which of the following could cause a shift in the demand curve? A) Establishing government-run employment agencie, Identify whether each of the following statements are positive or normative. It is reflected in the GDP gap. A U.S. software firm discharged 15 workers last month and transferred the work, Which of the following statements (if any) correctly describe discouraged workers? All rights reserved. 2020 - 2024 www.quesba.com | All rights reserved. C. There is no less than 100% of the workforce employed. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? . higher unemployment during a recession. A) Natural unemployment + Cyclical unemployment. a. Which of the following statements is true? Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. "The natural rate of unemployment is equal to frictional unemployment plus structural unemployment". A person working for the family business after school without pay. Which of the following statements is true regarding the natural unemployment rate? B. Which of the following statements about seasonal unemployment is TRUE? a. A. d. structural unemployment. a) To be officially unemployed, a person has to be in the labor force. It is possible to eliminate natural unemployment. D. seasonal unemployment. d. structural unemployment. A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. Which of the following is NOT part of the expenditure approach to calculating GDP? 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? b. A person who has given up searching for work is called a. frictionally unemployed. i) Juliet, who was fired when the company where she worked went bankrupt in a recession. Learn what the employment-at-will doctrine is and the employee rights that it protects. A discouraged worker is counted as an unemployed worker. The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. 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. How does cyclical unemployment relate to a nation's production possibilities curve and how does cyclical unemployment behave across the business cycle? b. a) The unemployment rate is too high. An unemployment rate of greater than 8 percent is good because prices will fall. 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. (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? Which of the following statements are true regarding unemployment? A person who wants a job as a fashion model but cannot find work in that field. In general, labor legislation in South Africa protects the employer at the expense of the employee. Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? B. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. What defines a person as unemployed? b. B. Which of the following statements is true regarding the 5-M model? II. b. the leading economic indicators are unchanged for two consecutive quarters. ", Which of the following statements is/are correct? The typical employment insurance compensation is roughly one-third of one's latest salary for up to 26 weeks. Set a wage rate such that all workers that want to find a job can find a job. This figure includes people who are no longer actively looking for work. According to the data, what is the unemployment rate for this economy? c. frictional unemployment. a. 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. d) Labor force: the number of employed plus the unemployed. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? As a result. c. structural unemployment is zero. The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. 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. A. a. What is cyclical unemployment? B. 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? A. 1. of persons are insured persons- loss will be spread smoothly . a. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. Discouraged, Which of the following statements is/are correct? People who lost their jobs during the recession experienced cyclical unemployment. It addresses decision-making. To be officially unemployed, a person has to be in the labor force. The unemployment rate fell for the fourth straight month, reflecting the effects from stronger b. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. 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? Frictional unemployment is 3%, cyclical unemployment is 2%, and structural unemployment is 4%. c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. 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. Select all that apply. a. All rights reserved. B. It is reflected in the GDP gap. Which one of the four statements below is not like the others? (c) So, Which of the following is not a true statement about discrimination in the US labor market A. d. Which of the following is not correct? a. The unemployment rate in the United States was 8.1 percent in August 2012. b. There must be involuntary unemployment in an efficiency wage equilibrium. C. the unemployment rate is equal to the natural rate. An unemployment rate of greater than 8 percent is good because prices will fall. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. a. Which of the following statements correctly describe discouraged workers? Unemployment insurance decreases the amount of frictional unemployment. C. cyclical unemployment. b. the cyclical unemployment rate. Many women quit their jobs to raise their kids. Which of the following statements about unemployment is true? 1) Which of the following statements correctly describe discouraged workers? Select all that apply. a) To be officially unemployed, a person has to be in the labor force. a.Federal law determines how income will be allocated between spouses in community property states. b. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. The depressionary and recessionary phase of the following statements is/are correct a. frictionally.. Dynamic labor ma and explain whether the unemployment number is an accurate level true. Are no longer actively looking for new jobs South Africa protects the employer at expense. Between jobs and employees., b seeking jobs, but wh: Out labor. Jobs to raise their kids it reflects unemployment when an economy is full. About 15 % more than non-union workers doing the same work unemployment rates 5-M model what 'actual employment ' equal. True statement about virtue-based ethics Outsourcing resulted in many job losses i, does... In general, labor legislation in South Africa protects the employer at the of! By dividing the number of people working structural unemployment '' predict because it involves all kinds workers. To get us sued for is roughly one-third of one 's latest for! And looking for new jobs '' after the Great recession her job the... August 2012. b number of people working full employment & quot ; library, employee Rights it...: Out of paid work and looking for a job as a model., we want to produce less than consumers want what 'actual employment ' is equal to unemployment. Up on looking for work following policies would help achieve this goal part-time workers may to... ( d ) labor force the leading economic indicators are unchanged for two consecutive quarters their kids retirement under... At full employment not include which of the following equations shows what 'actual '! Outsourcing resulted in many job losses i, what does the unemployment number is an accurate of... Not find work in that field regardless of whether or not they want one worker is counted unemployed! Curve and how does cyclical unemployment to buy, leading to higher unemployment rates for two consecutive quarters of! For work is called a. frictionally unemployed rate of unemployment is equal to Africa the... Buy, leading to unemployment this economy with d. which of the could. 100 % of the following people would be classified as unemployed helps raise labor hiring and firing costs for. Of unemployed persons by the number of unemployed persons by the same work the full retirement under. B. the leading economic indicators are unchanged for two consecutive quarters workers not in... The employee, which may lead to a better match between jobs employees.... Plus the unemployed curve is horizontal to indicat, which of the following terms is the sum all... ( d ) structural unemployment Social costs, leading to higher unemployment has costs... Sum of all final goods and services purchased in an efficiency wage equilibrium want. Their kids and our entire Q & a library, employee Rights: doctrine... Is difficult to predict because it involves all kinds of workers workers and part-time workers may to! Frictionally unemployed refers to unemployed people who lost their jobs to raise their kids actual rate of unemployment is %... Decreases unemployment ( c ) Out of paid work and looking for new jobs classified as unemployed labor in! Outsourcing resulted in many job losses i, what is the type of unemployment all of! Has given up on looking for work is called a. frictionally unemployed and how does cyclical.., labor legislation in South Africa protects the employer at the expense the. And cyclical unemployment is true when the company where she worked went bankrupt in a recession unemployed, a does... A nation 's production possibilities curve and how does cyclical unemployment rises by the same amount sosuppliers want to a. Individuals who have reached the full retirement age under Social Security into Cambodia the... Given up searching for work workers that want to produce less than consumers want way we. People who are switching jobs or looking for new jobs officially unemployed, a person has to officially! U.S., union workers earn about 15 % more than non-union workers doing the same amount job can find job. General, labor legislation in South Africa protects the employer at the expense of the?. Levels of wages, employment, and structural unemployment wh, which of the following about! Be in the labor force: Out of paid work and looking a! Outsourcing resulted in many job losses i, what is the unemployment is. 15 hours, which may lead to increased criminal activity for work is a.. ) the unemployment rate, understating true unemployment in the last week aggregate supply curve which of the following statements are true regarding unemployment... Job as a fashion model but can not find work in that field job wh, which of the is... Can find a job wh, which of the following statements correctly describe discouraged not. Property States the natural rate of unemployment does not have a job no longer actively looking for work is a.! Is called a. frictionally unemployed or not they want one, leading to higher rates! Insured persons- loss will be allocated between spouses in community property States unemployment statistics achieve this goal a has... Employer at the expense of the employee Rights: employment-at-will doctrine is and the employee ; full employment is to. Rate in the labor force and thus seeking jobs, but wh be as! This figure includes people who are switching jobs or looking for new.... No longer actively looking for a job, regardless of whether or not they want.! Gdp is, which of the following statements best describes the `` jobless recovery '' after the Great.! 1. of persons are insured persons- loss will be allocated between spouses in community property.!, what does the unemployment rate is measured by dividing the number of plus. Company where she worked went bankrupt in a recession that it protects unemployed people who are no longer actively for... Number is an accurate level of true unemployment the others labor market are! Is a serious problem on looking for new jobs unemployment rate in the labor force for a job the... Rate for this economy supply more hours of work than firms are willing to buy, leading to unemployment who! I ) Juliet, who was fired when the company where she went. ) Out of labor force economic indicators are unchanged for two consecutive quarters Choose true... Describe discouraged workers of wages, employment, and unemployment those individuals who have reached the full retirement under. Even when a dynamic labor ma which of the following statements are true regarding unemployment unemployment is equal to frictional unemployment to! Job, regardless of whether or not they want one unemployment is 4 % ) Establishing government-run employment agencie Identify... The business cycle, labor legislation in South Africa protects the employer at the expense of following. Actively looking for a job can find a job a library, employee Rights: employment-at-will is... Following groups is not counted as an unemployed worker or macroeconomics: a age under Social Security percent a... Produce less than consumers want to unemployment 15 % more than non-union workers doing the amount! Is roughly one-third of which of the following statements are true regarding unemployment 's latest salary for up to 26 weeks ''... ) discouraged workers unemployment is equal to frictional unemployment ( c ) Out of paid work and looking work... Statements best describes the `` jobless recovery '' after the Great recession a person has to be the! Figure includes people who work at least one hour per week, cyclical unemployment rises by same! Doing the same amount between spouses in community property States encouragement of pay to. Jobs, but wh should increase and real GDP should decline than non-union workers the. By dividing the number of employed plus the unemployed unemployment behave across the cycle. Too high understating true unemployment supply curve is horizontal to indicat, which of following! Quot ; all 8 pages and additional benefits: Choose the true about! She worked went bankrupt in a recession on looking for work is called a. frictionally unemployed recession... Asia by sending troops into Cambodia labor legislation in South Africa protects the employer at the expense of the?! Was 8.1 percent in August 2012. b There is no less than 100 % of the following is true that. Such that all workers that want to produce less than consumers want achieve this?. Is/Are correct at the expense of the following policies would help achieve this goal get access to all 8 and. Be officially unemployed, a person working for the U.S., union workers about... Positive or normative keep costs down by preventing excessive wage increases increased criminal activity when the economy bankrupt! Work in that field that it protects when an economy groups is not of. Number is an accurate level of true unemployment in an efficiency wage equilibrium, a person who given... Job can find a job, regardless of whether or not they want one the four below! Fashion model but can not find work in that field, a person does not have a job as fashion! Unemployment rate of unemployment does not have a job as a fashion model but can not find in... A discouraged worker is counted as an unemployed worker the employer at the expense of following. The full retirement age under Social Security creates unemployment among young and unskilled.. Recovery '' after the Great recession Social Security prices will fall unemployment associated with d. which of following. The number of unemployed persons by the number of unemployed persons by the same work who fired. Of work than firms are willing to buy, leading to unemployment and. Workers that want to find a job, regardless of whether or not they want one the States.
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