Exam 6: Unemployment

The updated version of Okun's Law indicates that a 1 percent increase in the unemployment rate can reliably cause a 2 percent decrease in real GDP.

To be officially counted as unemployed,one must be

According to Okun's Law,if unemployment rises by 5 percent while imports and exports increase at roughly the same rate,the economy will lose output equal to

Which of the following types of unemployment would best characterize a snow ski instructor's unemployment during the summer months?

In terms of the musical chairs analogy in the text,which of the following is a description of cyclical unemployment?

From 1950 until 2000,the labor force participation rate has

Suppose there are 6 million unemployed workers actively seeking a job.After a period of time,1,500,000 of these workers become discouraged and no longer look for employment.Ceteris paribus,the unemployment rate will

Table 6.3: Population and Labor Force Year 1 Year 5 Working Age Population 200 250 Labor Force 110 145 Employed 106 135 What is the labor force participation rate in Year 1 in Table 6.3?

Based on Table 6.2,what was the labor force participation rate in 2000? Table 6.2 1998 1999 2000 Working Age Population 85 illior 95 million 110 millior Labor Force 60 millior 65 million 72 millior Unernployed 5 millior 8 millior 13 millior

In terms of the musical chairs analogy in the text,which of the following is a description of structural unemployment?

It is impossible to find a direct relationship between unemployment and social problems such as illness,crime,and divorce.

Most of the costs of unemployment can be measured in financial terms.

According to the section "The Economy Tomorrow," outsourcing eliminates about ________ jobs in the United States each year.

Is the unemployment rate the same for all groups of people in an economy? Why or why not?

The underemployed are not included among the unemployed because they are working.

As of 2010,approximately what percentage of the women in the U.S.participated in the civilian labor force?

According to an In the News article written in 2009,"Unemployment Rate Hits 10.2%,a 26-Year High," the seasonally adjusted unemployment rate was the highest since

Someone 18 years old who is not employed and is not actively seeking work is considered

The Employment Act of 1946 set which of the following goals for the economy?

A 30-year-old stay-at-home son tells his parent he is looking for work but cannot find a job.When the parent finds the son a job,he refuses to take it.The 30-year-old can best be classified as