Question 1

How does the unemployment rate change in a recession and in an expansion?

Accepted Answer

During a recession, the unempl

Question 2

In the United States, the highest unemployment rates occur among

Accepted Answer

A)  white teenagers. 
B)  white females. 
C)  black teenagers. 
D)  black females. 
E)  white males. 
A)  white teenagers. 
B)  white females. 
C)  black teenagers. 
D)  black females. 
E)  white males.

Question 3

Suppose a 23-year old graduate student is looking for a full-time job , but has to take a part-time job instead. He or she will be categorized in the Current Population Survey as ________ when calculating the unemployment rate.

Accepted Answer

A)  unemployed. 
B)  employed. 
C)  not in the labor force. 
D)  a discouraged worker. 
E)  underemployed. 
A)  unemployed. 
B)  employed. 
C)  not in the labor force. 
D)  a discouraged worker. 
E)  underemployed.

Question 4

If real GDP exceeds potential GDP, then the unemployment rate ________ the natural unemployment rate.

Accepted Answer

A)  equals 
B)  is greater than 
C)  is less than 
D)  The premise of the question is incorrect because the relationship between real GDP and potential GDP has nothing to do with the relationship between the unemployment rate and the natural unemployment rate. 
E)  The premise of the question is incorrect because real GDP can never exceed potential GDP. 
A)  equals 
B)  is greater than 
C)  is less than 
D)  The premise of the question is incorrect because the relationship between real GDP and potential GDP has nothing to do with the relationship between the unemployment rate and the natural unemployment rate. 
E)  The premise of the question is incorrect because real GDP can never exceed potential GDP.

Question 5

Rosina Gonzales quit her job in Pennsylvania and moved to California to be close to her family.She is currently looking for work, so she would be considered

Accepted Answer

A)  a discouraged worker. 
B)  frictionally unemployed. 
C)  cyclically unemployed. 
D)  seasonally unemployed. 
E)  a withdrawal. 
A)  a discouraged worker. 
B)  frictionally unemployed. 
C)  cyclically unemployed. 
D)  seasonally unemployed. 
E)  a withdrawal.

Question 6

Suppose that the population is 275 million.Also assume that the labor force is 135 million and that 130 million people are employed.Calculate the unemployment rate.

Accepted Answer

The unemployment rat

Question 7

During a recession, the unemployment rate ________ and the percentage of part-time workers who are involuntary part-time workers ________.

Accepted Answer

A)  rises; rises 
B)  rises; falls 
C)  falls; rises 
D)  falls; falls 
E)  rises; does not change 
A)  rises; rises 
B)  rises; falls 
C)  falls; rises 
D)  falls; falls 
E)  rises; does not change

Question 8

Job losers are people who

Accepted Answer

A)  are laid off. 
B)  leave voluntarily. 
C)  recently left school. 
D)  left their job to have children. 
E)  left the labor market because they believe they are unable to find a job. 
A)  are laid off. 
B)  leave voluntarily. 
C)  recently left school. 
D)  left their job to have children. 
E)  left the labor market because they believe they are unable to find a job.

Question 9

Which of the following would be considered a marginally attached worker?
i. Lou, who worked 15 hours unpaid at her mother's store last month
ii. Sylvia, who is not working and hasn't looked for work in 3 months
iii. Meredith, who is not longer working after taking early retirement from her employer.

Accepted Answer

A)  i and iii. 
B)  i and ii. 
C)  i only. 
D)  ii only. 
E)  i, ii and iii. 
A)  i and iii. 
B)  i and ii. 
C)  i only. 
D)  ii only. 
E)  i, ii and iii.

Question 10

A marginally attached worker is

Accepted Answer

A)  a person who is not happy with his or her job. 
B)  someone who works part-time more than 25 hours per week but wants full-time work. 
C)  someone who does not have a job but is available and willing to work and has made specific but unsuccessful efforts to find a job during the past 4 weeks. 
D)  someone who does not have a job but is available and willing to work but has not made specific efforts to find a job during the past 4 weeks. 
E)  another name for an unemployed worker. 
A)  a person who is not happy with his or her job. 
B)  someone who works part-time more than 25 hours per week but wants full-time work. 
C)  someone who does not have a job but is available and willing to work and has made specific but unsuccessful efforts to find a job during the past 4 weeks. 
D)  someone who does not have a job but is available and willing to work but has not made specific efforts to find a job during the past 4 weeks. 
E)  another name for an unemployed worker.

Question 11

If an entire industry relocates to a foreign country, the relocation leads to a higher rate of ________ unemployment.

Accepted Answer

A)  frictional 
B)  structural 
C)  seasonal 
D)  cyclical 
E)  structural and cyclical 
A)  frictional 
B)  structural 
C)  seasonal 
D)  cyclical 
E)  structural and cyclical

Question 12

During the 2008-09 recession, which of the following occurred?

Accepted Answer

A)  The unemployment rate for job losers was over 6 percent. 
B)  The unemployment rate for job losers was about equal to the unemployment rate for job leavers. 
C)  Job leavers accounted for the largest portion of the unemployed. 
D)  Discouraged workers accounted for the largest portion of the unemployment rate. 
E)  Job reentrants accounted for the largest number of unemployed people. 
A)  The unemployment rate for job losers was over 6 percent. 
B)  The unemployment rate for job losers was about equal to the unemployment rate for job leavers. 
C)  Job leavers accounted for the largest portion of the unemployed. 
D)  Discouraged workers accounted for the largest portion of the unemployment rate. 
E)  Job reentrants accounted for the largest number of unemployed people.

Question 13

Consider the following people:
Chris quits his job as an automobile mechanic to pursue his college education full-time.
Darrelo was laid off from her technical support job because of a strike by production workers and is currently looking for a new job.
Rita graduated from college and is currently looking for a job.
Armondo quit his old job and will begin his new job in four days.
Thorton was fired from his job as a steel worker because of massive imports of steel and he is looking for a new job.
Valery is a ski instructor from December to April and she is currently sailing for enjoyment, which is what she does the rest of the year.
Jung was laid off from his job as an appraiser because the firm's business declined because of a general downturn in the economy and he is currently looking for a new job as an appraiser.
-According to the scenario above, in which of the following groups are all the people structurally unemployed?

Accepted Answer

A)  Thorton 
B)  Jung 
C)  Thorton and Darrelo 
D)  Darrelo and Thorton 
E)  Rita, Armondo, and Chris 
A)  Thorton 
B)  Jung 
C)  Thorton and Darrelo 
D)  Darrelo and Thorton 
E)  Rita, Armondo, and Chris

Question 14

The Bureau of Labor Statistics (BLS) compiles information about employment by

Accepted Answer

A)  performing a census of every household in the nation. 
B)  performing a quarterly survey 6,000,000 households. 
C)  performing a monthly survey of 60,000 households. 
D)  determining the average estimate of labor market specialists around the nation. 
E)  contacting each of the 50 states' Departments of Labor. 
A)  performing a census of every household in the nation. 
B)  performing a quarterly survey 6,000,000 households. 
C)  performing a monthly survey of 60,000 households. 
D)  determining the average estimate of labor market specialists around the nation. 
E)  contacting each of the 50 states' Departments of Labor.

Question 15

$\begin{array}{lc}
\text { Category } & \text { Number of people } \
\hline \text { Labor force } & 10,000 \
\text { Employed } & 9,000 \
\text { Under } 16 \text { years of age } & 2,000 \
\text { Working-age population } & 12,000
\end{array}$
-In the table above, the number of unemployed people is

Accepted Answer

A)  2,000. 
B)  1,000. 
C)  1,100. 
D)  11,000. 
E)  3,000. 
A)  2,000. 
B)  1,000. 
C)  1,100. 
D)  11,000. 
E)  3,000.

Question 16

Seasonal unemployment includes people who become unemployed from

Accepted Answer

A)  the seasonal weather patterns. 
B)  normal changes in the labor force. 
C)  technological changes. 
D)  changes in the business cycle. 
E)  changes in international competition. 
A)  the seasonal weather patterns. 
B)  normal changes in the labor force. 
C)  technological changes. 
D)  changes in the business cycle. 
E)  changes in international competition.

Question 17

The natural unemployment rate is the unemployment rate that exists when there is no

Accepted Answer

A)  structural unemployment. 
B)  frictional unemployment. 
C)  cyclical unemployment. 
D)  cyclical or structural unemployment. 
E)  seasonal unemployment. 
A)  structural unemployment. 
B)  frictional unemployment. 
C)  cyclical unemployment. 
D)  cyclical or structural unemployment. 
E)  seasonal unemployment.

Question 18

During a recession, the unemployment rate

Accepted Answer

A)  is, by definition, above 25 percent. 
B)  is, by definition, above 10 percent. 
C)  usually increases but not necessarily to 10 percent or 25 percent. 
D)  remains constant. 
E)  usually decreases. 
A)  is, by definition, above 25 percent. 
B)  is, by definition, above 10 percent. 
C)  usually increases but not necessarily to 10 percent or 25 percent. 
D)  remains constant. 
E)  usually decreases.

Question 19

After 15 years with Ford Motor Corporation, one summer Cameron loses his job.His boss explained that his position has been downsized after the technological advances in automobile production.Cameron is best considered

Accepted Answer

A)  not in the labor force. 
B)  frictionally unemployed. 
C)  structurally unemployed. 
D)  cyclically unemployed. 
E)  seasonally unemployed. 
A)  not in the labor force. 
B)  frictionally unemployed. 
C)  structurally unemployed. 
D)  cyclically unemployed. 
E)  seasonally unemployed.

Question 20

When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing i. seasonal unemployment.
Ii) structural unemployment.
Iii) cyclical unemployment.

Accepted Answer

A)  i only 
B)  ii only 
C)  i and iii 
D)  i and ii 
E)  ii and iii 
A)  i only 
B)  ii only 
C)  i and iii 
D)  i and ii 
E)  ii and iii

How does the unemployment rate change in a recession and in an expansion?

In the United States, the highest unemployment rates occur among

Suppose a 23-year old graduate student is looking for a full-time job , but has to take a part-time job instead. He or she will be categorized in the Current Population Survey as ________ when calculating the unemployment rate.

If real GDP exceeds potential GDP, then the unemployment rate ________ the natural unemployment rate.

Rosina Gonzales quit her job in Pennsylvania and moved to California to be close to her family.She is currently looking for work, so she would be considered

Suppose that the population is 275 million.Also assume that the labor force is 135 million and that 130 million people are employed.Calculate the unemployment rate.

During a recession, the unemployment rate and the percentage of part-time workers who are involuntary part-time workers .

Job losers are people who

Which of the following would be considered a marginally attached worker? i. Lou, who worked 15 hours unpaid at her mother's store last month ii. Sylvia, who is not working and hasn't looked for work in 3 months iii. Meredith, who is not longer working after taking early retirement from her employer.

A marginally attached worker is

If an entire industry relocates to a foreign country, the relocation leads to a higher rate of ________ unemployment.

During the 2008-09 recession, which of the following occurred?

The Bureau of Labor Statistics (BLS) compiles information about employment by

Category Number of people Labor force 10,000 Employed 9,000 Under 16 years of age 2,000 Working-age population 12,000 -In the table above, the number of unemployed people is

Seasonal unemployment includes people who become unemployed from

The natural unemployment rate is the unemployment rate that exists when there is no

During a recession, the unemployment rate

After 15 years with Ford Motor Corporation, one summer Cameron loses his job.His boss explained that his position has been downsized after the technological advances in automobile production.Cameron is best considered

When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing i. seasonal unemployment. Ii) structural unemployment. Iii) cyclical unemployment.

Getting Started

The Usand Global Economies

The Economic Problem

Demand and Supply

Gdp: a Measure of Total Production and Income

The Cpi and the Cost of Living

Potential Gdp and the Natural Unemployment Rate

Economic Growth

Finance, Saving, and Investment

The Monetary System

Money, Interest, and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Tradeoff

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters

Exam 6: Jobs and Unemployment

How does the unemployment rate change in a recession and in an expansion?

In the United States, the highest unemployment rates occur among

Suppose a 23-year old graduate student is looking for a full-time job , but has to take a part-time job instead. He or she will be categorized in the Current Population Survey as ________ when calculating the unemployment rate.

If real GDP exceeds potential GDP, then the unemployment rate ________ the natural unemployment rate.

Rosina Gonzales quit her job in Pennsylvania and moved to California to be close to her family.She is currently looking for work, so she would be considered

Suppose that the population is 275 million.Also assume that the labor force is 135 million and that 130 million people are employed.Calculate the unemployment rate.

During a recession, the unemployment rate ________ and the percentage of part-time workers who are involuntary part-time workers ________.

Job losers are people who

A marginally attached worker is

If an entire industry relocates to a foreign country, the relocation leads to a higher rate of ________ unemployment.

During the 2008-09 recession, which of the following occurred?

The Bureau of Labor Statistics (BLS) compiles information about employment by

Category Number of people Labor force 10,000 Employed 9,000 Under 16 years of age 2,000 Working-age population 12,000 -In the table above, the number of unemployed people is

Seasonal unemployment includes people who become unemployed from

The natural unemployment rate is the unemployment rate that exists when there is no

During a recession, the unemployment rate

After 15 years with Ford Motor Corporation, one summer Cameron loses his job.His boss explained that his position has been downsized after the technological advances in automobile production.Cameron is best considered

When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing i. seasonal unemployment. Ii) structural unemployment. Iii) cyclical unemployment.

Getting Started

The Usand Global Economies

The Economic Problem

Demand and Supply

Gdp: a Measure of Total Production and Income

The Cpi and the Cost of Living

Potential Gdp and the Natural Unemployment Rate

Economic Growth

Finance, Saving, and Investment

The Monetary System

Money, Interest, and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Tradeoff

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters

During a recession, the unemployment rate and the percentage of part-time workers who are involuntary part-time workers .