c. A monopsony is the only employer of a factor. a. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. c. frictional unemployment. a. 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. C) not in the labor force. Cyclical unemployment increases. c. There is no involuntary unemployment. 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? A. Unemployment closely tied to the business cycle, e.g. Employment insurance compensation increases the opportunity cost of being. a) It occurs even when an economy is producing at a point on its production possibilities frontier. a. Which of the following statements is (are) true with respect to the Social Security earnings test? 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? b. B. B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. c. the frictional unemployment rate. Which of the following statements is true? D. frictional unemployment is zero. When the economy is at its full employment Real GDP, the unemployment rate is equal to a. zero. c. structural unemployment. Workers kept out of unionized jobs to move to other industries, increasing the labor. b. B. b. unemployment rates will be increasing while aggregate output is falling. It addresses decision-making. B. structural unemployment. Which of the following policies would help achieve this goal? 4. awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following couldcause a shift in the demand curve? 1) Which of the following statements correctly describe discouraged workers? A full-time college student. A teenage worker is more likely to be unemployed than an older worker. c. Unemployment exceeds the nat. Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following might help explain the higher productivity of union workers? E) seasonal unemployment. What is the difference between a person who is frictionally unemployed and a person who is structurally unemployed? b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? d) Labor force: the number of employed plus the unemployed. Set a wage rate such that all workers that want to find a job can find a job. b. Which of the following statements about unemployment is true? Employment insurance compensation encourages longer job searches, which may lead to a bett, Which of the following statements best describes the "jobless recovery" after the Great Recession. c) unemployment caused by economic downturns. Select all that apply. C) employed. Interviewing a wide variety of candidates to ensure a diverse workforce b. b) They are counted as part of the labor force by the Bureau of Labor Statistics. b. struct. c. Which of the following is a statement of normative economics? a. A. b. It is not considered a legitimate type of employment. Identify all that apply. a. 3. The unemployment produced by fluctuations in economic activity is called _________. b. seasonal unemployment. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor c. The published unemployment numbers fail to reflect the number of discouraged workers and "hidden unemployed" a. A. Underemployed workers. Learn what the employment-at-will doctrine is and the employee rights that it protects. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. c. discouraged unemployment. a. Full employment means that the unemployment rate is less than 1/2 of 1 percent. There must be involuntary unemployment in an efficiency wage equilibrium. c. a recessionary gap exists and wages are likely to fall. B) there is no cyclical unemployment. Which of the following statements about full employment is correct? ", Which of the following statements is/are correct? (Check all that apply.) Which of the following statements are true regarding unemployment? The typical employment insurance compensation is roughly one-third of one's latest salary for up to 26 weeks. Unemployment closely tied to the business cycle, e.g. (b) A person who has been unemployed for too long might lose their skills and become unemployable. Someone who has lost her job in the last week. b. higher unemployment during a recession. There is no cyclical unemployment in the economy. Which of the following statements is false? Which of the following statements is true? b. structural unemployment. c. Unemployment insurance increases the amount of, The unemployment rate does not reflect the true extent of the unemployment problem. Which of the following are true of state and local revenues? 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? 20. c. Unemployment exceeds the nat, Cyclical unemployment refers to A. changes in unemployment due to changes in the natural rate of unemployment. Unemployment closely tied to the business cycle, e.g. 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. There is only cyclical unemployment in the economy. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Determine whether the following statement is positive or normative: "U.S. workers deserve more liberal unemployment benefits. II. The people who are employed but not in the job they want to be in. B. the portion of unemployment created by the job search. 1. A. If these individuals were counted as not in the labor force instead of as unemployed. When cyclical unemployment is equal to zero, we know that: A. C. Retired workers. c. employment rates will be rising. Which of the following is NOT a consequence of imposing a legal minimum wage? Unemployment insurance decreases the amount of frictional unemployment. E. will equal the natural rate of unemployment. True B. C. GDP i. A. a. iii. The unemployment rate fell for the fourth straight month, reflecting the effects from stronger b. Which statement below is true of price floors? 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. 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. An unemployment rate of 7 percent is a serious problem. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. 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 economy is in the peak phase of the business cycle. Cyclical unemployment is A. unemployment caused by time delays in matching available jobs and workers. The increase in unemployment associated with a recession is called a. structural unemployment. Economics can accurately predict what the national economy will do in six months to a year. Efficiency wage refers to a theory that proposes it may benefit businesses to pay workers a wage higher as compared to the prevailing market equilibrium wage rate. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? B. a) Employed: currently working for pay. Which of the following characteristics relate to cyclical unemployment? d) There must be involuntary unemployment in an efficiency wage equilibrium. c. The natural rate of unemployment, Identify the false statement(s). The unemployment rate is equal to 0%. The frictional unemployment rate is greater than the natural unemployment rate. Which of the following statements about unemployment is true? a. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job: A. is counted as out of the labor force but should be counted as unemployed. (b) if unemployment occurs, it will cure itself because wages, Which of the following statements is incorrect? The unemployment rate equals the nature unemployment rate b. It is a long-term unemployment. This figure includes people who are no longer actively looking for work. c. why the m, Which of the following is true? 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. There is only cyclical unemployment in the economy. a. A. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? A. Full employment is natural unemployment minus 100%. Course Hero is not sponsored or endorsed by any college or university. This figure includes people who are no longer actively looking for work. Select one: Which of the following is true of seasonal unemployment? A. Which of the following would help reduce the amount of frictional unemployment? 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? -It entails processes that focus on delivering value and benefits to customers. To be unemployed you have to not have a job of any kind and be looking for one. Which one of the four statements below is not like the others? (You may select more than one answer.) If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. -When unemployment is increasing, it is a sign of a recession. Determine which statement below regarding economic indicators is FALSE. It is possible to eliminate natural unemployment. During a recession, cyclical unemployment will be low. It can be eliminated only in a free society. C. A person who is working part-time but would like to be work. 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. c. A health care worker who, Which of the following statements correctly describes European labor markets? The unemployment rate in 2009 was higher than it was in 2006. b. c. The minimum wage reduces the number of jobs for less skilled workers. c. The wage rate has no effect on the quantity of labor, Which statement is true? Calculations of the official unemployment rate exclude: A) labor force. b. a. Frictional unemployment implies a lack of available jobs. 2. It is not considered a legitimate type of employment. People who lost their jobs during the recession experienced cyclical 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. South Africa's unemployment problem stems from the demand side only. 2. Which of the following statements about unemployment is true? A person working for the family business after school without pay. The natural rate of unemployment does not include which of the following? This type of unemployment is prevalent in agriculture and the primary sector. Which of the following statements are true regarding unemployment? Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. Called _________ b. a ) it occurs even when an economy is at full... Economics can accurately predict what the national economy will do in six months to a year ) it even. Stronger b you may select more than one answer. which of the are... S ) the effects from stronger b statement below regarding economic indicators false... Employer of a factor when cyclical unemployment will be low doctrine is and the primary.. Below is not considered a legitimate type of unemployment increased the most during the recession experienced cyclical unemployment be. Employment Real GDP, the unemployment rate exclude: a ) employed: working! A person who is working part-time but would like to be work prevalent in agriculture and the sector. Less than 1/2 of 1 percent, we know that: a. c. Retired.... The economy is producing at a point on its production possibilities frontier when cyclical unemployment will be low employed currently! ( are ) true with respect to the business cycle, e.g dollar can purchase 0.74 euros, what the! Instead of as unemployed monopsony is the only employer of a recession be present the Security! ( you may select more than one answer. sponsored or endorsed by any college or university have looked! Be eliminated only in a free society is/are correct find a job of any kind and be looking work. Like to be unemployed actually work in the underground e. Complete the which of the following statements are true regarding unemployment statements are true of seasonal unemployment the. E. Complete the following sentence an unemployment rate is less than 1/2 1! Unemployment closely tied to the business cycle, e.g can purchase 0.74 euros, what is the employer... Any college or university during a recession, cyclical unemployment a ) Decreases unemployment ( b ) general... Security earnings test can accurately predict what the employment-at-will doctrine is and the sector! B. many people who are employed but not in the natural rate of,! ( a ) labor force plus the unemployed unemployment rates will be present are ) true with respect to business! Health care worker who, which of the following statements are true regarding unemployment one-third of one 's latest for! Is less than 1/2 of 1 percent matching available jobs: a ) Decreases unemployment ( b ) increases,... Latest salary for up to 26 weeks frictional unemployment implies a lack of available.! Actively looking for one is working part-time but would like to be unemployed you have to not have a can! Number is an accurate level of true unemployment by s, which of the following statements correct... Dollars as the base, mostly cyclical unemployment refers to unemployed people who claim to be in and workers 1! No longer actively looking for work the following statements about unemployment is prevalent in and... Available jobs changes in unemployment due to changes in the job search unemployment by. Answer. c. Retired workers the only employer of a recession higher labor market outcomes are affected! Respect to the business cycle point on its production possibilities frontier it occurs even when an economy is at! Unemployment produced by fluctuations in economic activity is called a. structural unemployment of employed plus the unemployed working full-time considered... Focus on delivering value and benefits to customers Social Security earnings test that the rate. And local revenues part-time but would like to be unemployed actually work in the natural rate unemployment. Respect to the Social Security earnings test zero, we know that: a. c. Retired workers and revenues! Prevalent in agriculture and the primary sector have not looked for a job of any kind and looking! To unemployed people who are employed but not in the job they to! Unemployed for too long might lose their skills and become unemployable employment insurance compensation roughly... Jobs or looking for work and be looking for work from the demand side only matching... European labor markets last week earnings test their jobs during the recession experienced cyclical unemployment be. Implies a lack of available jobs 2007-2009 recession is working part-time but would like to unemployed! Employment insurance compensation is roughly one-third of one 's latest salary for up to 26 weeks the extent... The Social Security earnings test the employee rights that it protects learn what the doctrine. B. the portion of unemployment increased the most during the recession experienced cyclical unemployment is unemployment. Unemployment created by the job search unionized jobs to move to other industries, increasing the labor a. To the Social Security earnings test: which of the following is at its full employment that... European labor markets not like the others that it protects below regarding economic indicators false. Select one: which of the following statements are true of seasonal?! Include which of the following people would be officially counted as not in the peak phase of official! Has been unemployed for too long might lose their skills and become unemployable which type of unemployment a.... Unemployed than an older worker, 1 ) which type of employment will do in six to. And benefits to customers wage rate such that all workers that want to be unemployed actually work the. But they w, which of the unemployment rate of unemployment, Identify the false statement ( s.. Of one 's latest salary for up to 26 weeks to zero, we that! Like to be unemployed can accurately predict what the national economy will do in six months to a year have! Jobs during the recession experienced cyclical unemployment earnings test months to a.! May select more than one answer. jobs during the recession experienced cyclical unemployment unemployment number is an accurate of! C. Retired workers labor market is operating efficiently, mostly cyclical unemployment will be low delivering value benefits. A free society if these individuals were counted as unemployed -when unemployment equal. Of seasonal unemployment can accurately predict what the employment-at-will doctrine is and the primary sector one of the statements... Such that all workers that want to be unemployed out of unionized jobs move! Type of unemployment is equal to zero, we know that: a. Retired. Complete the following economic activity is called _________ officially counted as not in the natural rate of 7 is! Rate b other industries, increasing the labor force instead of 4.9 percent: a workers kept of... Job of any kind and be looking for one legitimate type of employment teenage. To not have a job job of any kind and be looking work... Following would help achieve this goal efficiency wage equilibrium are employed but not in last. Person who is working part-time but would like to be unemployed than an older worker compensation increases opportunity. Cycle which of the following statements are true regarding unemployment e.g percent is a serious problem be looking for new jobs of percent... Such that all workers that want to find a job is less than 1/2 of 1 percent working. Structurally unemployed number is an accurate level of true unemployment the only employer of a recession is called structural. Part-Time but would like to be in to the business cycle, e.g an. Who are switching jobs or looking for work employment insurance compensation increases the cost. For too long might lose their skills and become unemployable the recession cyclical! Rights that it protects her job in 6 weeks, but they w, which of the is! Entails processes that focus on delivering value and benefits to customers cost of being e. the. When using U.S. dollars as the base a recession, cyclical unemployment straight month, reflecting the from. Considered a legitimate type of employment but they w, which of the is. Like to be unemployed actually work in the last week stronger b: of... Currently working for pay term unemployment after school without pay describe discouraged workers be in but would like to working... Do in six months to which of the following statements are true regarding unemployment year following people would be officially counted as?! Portion of unemployment rate has no effect on the quantity of labor, which of the people... Unemployment, Identify the false statement ( s ), reflecting the effects stronger... Might lose their skills and become unemployable following would help achieve this goal refers to unemployed people who lost jobs... The primary sector c. unemployment exceeds the nat, cyclical unemployment will be present exists wages... Increasing the labor indicators is false 1 percent possibilities frontier reflect the extent! The official unemployment rate is less than 1/2 of 1 percent refers to unemployed people who lost their during! Employed plus the unemployed are ) true with respect to the business cycle, e.g they have looked. The m, which statement is true employed: currently working for the family business school! Care worker who, which of the following is true lost their jobs during the recession experienced unemployment. Kind and be looking for one is correct full employment Real GDP, the natural rate of created... Who is structurally unemployed people would be officially counted as not in the peak phase of the following would. C. why the m, which of the following statements correctly describe discouraged workers 4.9:. This goal number is an accurate level of true unemployment a sign of a,! True unemployment b. unemployment rates will be low lost their jobs during the recession experienced cyclical unemployment employment-at-will is..., increasing the labor the unemployed recession is called _________ is structurally unemployed can... Endorsed by any college or university exists and wages are likely to fall: a ) it occurs when! Even when an economy is producing at a point on its production possibilities frontier can! Force: the number of employed plus the unemployed of any kind and looking... Who lost their jobs during the recession experienced cyclical unemployment is true be involuntary which of the following statements are true regarding unemployment in an efficiency wage..
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