Exam 12: Business Cycles and Unemployment

Exhibit 12-3 Unemployment categories -According to data in Exhibit 12-3 and assuming the total number of workers is 8,400,the unemployment rate is:

Retired persons are officially classified as:

Which of the following groups of people are counted as employed?

Industrial production is not a coincident indicator.

Which of the following will most likely occur during the expansionary phase of a business cycle?

The economy is considered to be at full employment when:

Which of the following offers an example of frictional unemployment?

Cyclical unemployment is primarily caused by:

Which one of the following persons would be considered unemployed?

The number of people officially unemployed is not the same as the number of people who can't find a job because:

Any adult who does not have a job is counted as unemployed.

Exhibit 12-3 Unemployment categories -According to data in Exhibit 12-3 and assuming the total number of workers is 8,400,the civilian labor force is:

If you look for a job for eighteen months after graduation,but fail to generate an offer,even after lowering your expectations,the economy is probably in the business cycle phase called a:

As a general rule,a recession is a decline in real GDP lasting at least:

A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings results in:

A business cycle is the period of time in which:

The unemployment rate will decrease whenever there is a(n):

The type of unemployment that occurs because of a recession is called:

What stage of the business cycle immediately follows the trough?

Part-time workers who want full-time work are counted as only partially employed in the official unemployment statistic.