Question 1

The working-age population includes

Accepted Answer

A) those in jails and hospitals. 
B) youngsters between the ages of 14 and 16 if they are working at least part time. 
C) employed and unemployed people over the age of 16. 
D) only employed people over the age of 16. 
E) people over the age of 16 who are in the Army. 
A) those in jails and hospitals. 
B) youngsters between the ages of 14 and 16 if they are working at least part time. 
C) employed and unemployed people over the age of 16. 
D) only employed people over the age of 16. 
E) people over the age of 16 who are in the Army.

Question 2

Over the last 50 years, how has
a. the labor force participation rate changed?
b. the men's and women's labor force participation rates changed?

Accepted Answer

a. Over the past 50 years, the overall l

Question 3

As the unemployment rate increases,

Accepted Answer

A) potential GDP decreases. 
B) real GDP decreases. 
C) both real GDP and potential GDP decrease. 
D) potential GDP increases. 
E) full employment GDP decreases. 
A) potential GDP decreases. 
B) real GDP decreases. 
C) both real GDP and potential GDP decrease. 
D) potential GDP increases. 
E) full employment GDP decreases.

Question 4

Across developed and newly industrialized economies, since 1989 the United States has generally had

Accepted Answer

A) a higher unemployment rate than Japan and Hong Kong and a lower unemployment rate than the Eurozone countries. 
B) a lower unemployment rate than Japan and Hong Kong. 
C) a higher unemployment rate than the Eurozone countries. 
D) the same unemployment rate as Canada. 
E) a lower unemployment rate than Hong Kong and a higher unemployment rate than Japan and the Eurozone countries. 
A) a higher unemployment rate than Japan and Hong Kong and a lower unemployment rate than the Eurozone countries. 
B) a lower unemployment rate than Japan and Hong Kong. 
C) a higher unemployment rate than the Eurozone countries. 
D) the same unemployment rate as Canada. 
E) a lower unemployment rate than Hong Kong and a higher unemployment rate than Japan and the Eurozone countries.

Question 5

Using the table above, the Current Population Survey classifies the group of individuals obtained by adding groups 5 and 6 as

Accepted Answer

A) the working age population. 
B) the labor force. 
C) employed. 
D) unemployed. 
E) discouraged workers. 
A) the working age population. 
B) the labor force. 
C) employed. 
D) unemployed. 
E) discouraged workers.

Question 6

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

Question 7

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 8

The percentage of workers who work part time for noneconomic reasons

Accepted Answer

A) decreases during a recession as the number of discouraged workers increases. 
B) does not fluctuate much at all with the business cycle. 
C) fluctuates strongly with the business cycle. 
D) has decreased from 30 percent of the labor force in 1980 to 20 percent in 2011. 
E) has trended upward since 1980. 
A) decreases during a recession as the number of discouraged workers increases. 
B) does not fluctuate much at all with the business cycle. 
C) fluctuates strongly with the business cycle. 
D) has decreased from 30 percent of the labor force in 1980 to 20 percent in 2011. 
E) has trended upward since 1980.

Question 9

$$\begin{array} { l c } 
 { \text { Category } } \
\hline \text { Employment } & 14.5 \text { million } \
\text { Labor force } & 15.7 \text { million } \
\text { Working-age population } & 24.0 \text { million } \
\text { Average weekly hours } & 34.2 \text { hours } \
\hline
\end{array}$$
-The table shows data reported by Statistics Canada for 1999. In 1999, the unemployment rate was

Accepted Answer

A) 1.2 million. 
B) 5.0 percent. 
C) 7.6 percent. 
D) 7.9 percent. 
E) 6.1 percent. 
A) 1.2 million. 
B) 5.0 percent. 
C) 7.6 percent. 
D) 7.9 percent. 
E) 6.1 percent.

Question 10

$$\begin{array} { l c } 
 { \text { Category } } & \begin{array} { c } 
\text { Number of People } \
\text { (millions) }
\end{array} \
\hline \text { Population } & 280 \
\text { Working-age population } & 210 \
\text { Labor force } & 150 \
\text { Employed } & 135 \
\text { Unemployed } & 15 \
\hline
\end{array}$$
-Based on the above table, the labor force participation rate is

Accepted Answer

A) 71.4 percent. 
B) 82 percent. 
C) 53.6 percent. 
D) 75 percent. 
E) 64.3 percent. 
A) 71.4 percent. 
B) 82 percent. 
C) 53.6 percent. 
D) 75 percent. 
E) 64.3 percent.

Question 11

$$\begin{array} { l c } 
{ \text { Category } } & \begin{array} { c } 
\text { Number of People } \
\text { (thousands) }
\end{array} \
\hline \text { Employment } & 27,793 \
\text { Unemployment } & 1,619 \
\text { Working-age population } & 46,581 \
\hline
\end{array}$$
-The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000. In September 2000, the labor force participation rate is

Accepted Answer

A) 59.7 percent. 
B) 63.1 percent. 
C) 34.8 percent. 
D) 40.3 percent. 
E) 58.3 percent. 
A) 59.7 percent. 
B) 63.1 percent. 
C) 34.8 percent. 
D) 40.3 percent. 
E) 58.3 percent.

Question 12

Explain the relationship between real GDP and potential GDP and between the unemployment rate and the natural unemployment rate as the economy moves through a business cycle.

Accepted Answer

Potential GDP is the level of GDP when t

Question 13

What is the relationship over the business cycle of potential GDP and real GDP?

Accepted Answer

The level of output that the economy wou

Question 14

Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped. Janae's unemployment would be best classified as

Accepted Answer

A) frictional unemployment. 
B) structural unemployment. 
C) sales-related unemployment. 
D) cyclical unemployment. 
E) natural unemployment. 
A) frictional unemployment. 
B) structural unemployment. 
C) sales-related unemployment. 
D) cyclical unemployment. 
E) natural unemployment.

Question 15

From 1981 to 2011, the unemployment rate in the United States

Accepted Answer

A) was always lower than the unemployment rate in Japan. 
B) almost always equaled the unemployment rate in Canada. 
C) generally rose while the unemployment rate in the Eurozone fell. 
D) was generally lower than the unemployment rate in the Eurozone. 
E) was usually higher than the unemployment rate in Canada. 
A) was always lower than the unemployment rate in Japan. 
B) almost always equaled the unemployment rate in Canada. 
C) generally rose while the unemployment rate in the Eurozone fell. 
D) was generally lower than the unemployment rate in the Eurozone. 
E) was usually higher than the unemployment rate in Canada.

Question 16

For the past decade, the unemployment rate in Western Europe has been higher than the unemployment rate in the United States. Based on this fact, is the natural unemployment rate larger in Western Europe or in the United States?
 Why might the natural rates differ between the two areas?

Accepted Answer

The natural unemployment rate is probabl

Question 17

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 18

If the working age population is 200 million, 150 million are employed, and 6 million are unemployed, the unemployment rate is ________.

Accepted Answer

A) 3.0 percent 
B) 25.0 percent 
C) 4.0 percent 
D) 12.0 percent 
E) 3.8 percent 
A) 3.0 percent 
B) 25.0 percent 
C) 4.0 percent 
D) 12.0 percent 
E) 3.8 percent

Question 19

People who are willing and able to work but are not looking for work because they have been discouraged by their previous futile efforts are called

Accepted Answer

A) unemployed workers. 
B) discouraged workers. 
C) unhappy workers. 
D) involuntarily unemployed. 
E) part-time lookers. 
A) unemployed workers. 
B) discouraged workers. 
C) unhappy workers. 
D) involuntarily unemployed. 
E) part-time lookers.

Question 20

When the unemployment rate is less than the natural unemployment rate, real GDP is ________ potential GDP.

Accepted Answer

A) greater than 
B) less than 
C) unrelated to 
D) equal to 
E) not comparable to 
A) greater than 
B) less than 
C) unrelated to 
D) equal to 
E) not comparable to

The working-age population includes

Over the last 50 years, how has a. the labor force participation rate changed? b. the men's and women's labor force participation rates changed?

As the unemployment rate increases,

Across developed and newly industrialized economies, since 1989 the United States has generally had

Using the table above, the Current Population Survey classifies the group of individuals obtained by adding groups 5 and 6 as

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.

According to the scenario above, in which of the following groups are all the people structurally unemployed?

The percentage of workers who work part time for noneconomic reasons

Category Employment 14.5 million Labor force 15.7 million Working-age population 24.0 million Average weekly hours 34.2 hours -The table shows data reported by Statistics Canada for 1999. In 1999, the unemployment rate was

Category Number of People (millions) Population 280 Working-age population 210 Labor force 150 Employed 135 Unemployed 15 -Based on the above table, the labor force participation rate is

Category Number of People (thousands) Employment 27,793 Unemployment 1,619 Working-age population 46,581 -The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000. In September 2000, the labor force participation rate is

Explain the relationship between real GDP and potential GDP and between the unemployment rate and the natural unemployment rate as the economy moves through a business cycle.

What is the relationship over the business cycle of potential GDP and real GDP?

Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped. Janae's unemployment would be best classified as

From 1981 to 2011, the unemployment rate in the United States

For the past decade, the unemployment rate in Western Europe has been higher than the unemployment rate in the United States. Based on this fact, is the natural unemployment rate larger in Western Europe or in the United States? Why might the natural rates differ between the two areas?

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 the working age population is 200 million, 150 million are employed, and 6 million are unemployed, the unemployment rate is ________.

People who are willing and able to work but are not looking for work because they have been discouraged by their previous futile efforts are called

When the unemployment rate is less than the natural unemployment rate, real GDP is ________ potential GDP.

Getting Started

The Us and Global Economies

The Economic Problem

Demand and Supply

Elasticities of Demand and Supply

Efficiency and Fairness of Markets

Government Actions in Markets

Global Markets in Action

Externalities: Pollution, Education, and Health Care

Production and Cost

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Gdp: a Measure of Total Production and Income

The Cpi and the Cost of Living

Potential Gdp and Economic Growth

Money and the Monetary System

Aggregate Supply and Aggregate Demand

Fiscal Policy and Monetary Policy

Filters

Exam 15: Jobs and Unemployment

The working-age population includes

Over the last 50 years, how has a. the labor force participation rate changed? b. the men's and women's labor force participation rates changed?

As the unemployment rate increases,

Across developed and newly industrialized economies, since 1989 the United States has generally had

Using the table above, the Current Population Survey classifies the group of individuals obtained by adding groups 5 and 6 as

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.

According to the scenario above, in which of the following groups are all the people structurally unemployed?

The percentage of workers who work part time for noneconomic reasons

Category Employment 14.5 million Labor force 15.7 million Working-age population 24.0 million Average weekly hours 34.2 hours -The table shows data reported by Statistics Canada for 1999. In 1999, the unemployment rate was

Category Number of People (millions) Population 280 Working-age population 210 Labor force 150 Employed 135 Unemployed 15 -Based on the above table, the labor force participation rate is

Category Number of People (thousands) Employment 27,793 Unemployment 1,619 Working-age population 46,581 -The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000. In September 2000, the labor force participation rate is

Explain the relationship between real GDP and potential GDP and between the unemployment rate and the natural unemployment rate as the economy moves through a business cycle.

What is the relationship over the business cycle of potential GDP and real GDP?

Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped. Janae's unemployment would be best classified as

From 1981 to 2011, the unemployment rate in the United States

For the past decade, the unemployment rate in Western Europe has been higher than the unemployment rate in the United States. Based on this fact, is the natural unemployment rate larger in Western Europe or in the United States? Why might the natural rates differ between the two areas?

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 the working age population is 200 million, 150 million are employed, and 6 million are unemployed, the unemployment rate is ________.

People who are willing and able to work but are not looking for work because they have been discouraged by their previous futile efforts are called

When the unemployment rate is less than the natural unemployment rate, real GDP is ________ potential GDP.

Getting Started

The Us and Global Economies

The Economic Problem

Demand and Supply

Elasticities of Demand and Supply

Efficiency and Fairness of Markets

Government Actions in Markets

Global Markets in Action

Externalities: Pollution, Education, and Health Care

Production and Cost

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Gdp: a Measure of Total Production and Income

The Cpi and the Cost of Living

Potential Gdp and Economic Growth

Money and the Monetary System

Aggregate Supply and Aggregate Demand

Fiscal Policy and Monetary Policy

Filters