Exam 12: Business Cycles and Unemployment

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Juanita earned a B.S.in engineering and went to work for a large defense contractor in a small town in California.When the government cut spending,Juanita and 99 others were laid off.The only other business in the town is growing grapes to be made into raisins,but the growers refuse to hire laid-off engineers,knowing they will leave at the first opportunity.The unemployment Juanita is experiencing is:

(Multiple Choice)

4.9/5

(65)

Question 141

The unemployment rate equals the number of persons:

(Multiple Choice)

4.9/5

(76)

Question 142

Structural unemployment is frequently caused by:

(Multiple Choice)

4.8/5

(82)

Question 143

In a dynamic economy under ideal conditions:

(Multiple Choice)

4.8/5

(77)

Question 144

Andrea Burris lost her job in a company layoff 5 months ago.She would take a job if one was offered,but she has given up looking for work until the economy improves.She is:

(Multiple Choice)

4.9/5

(71)

Question 145

Suppose u = those adults who are unemployed and seeking work; e = those adults who are employed; and NLF = those adults not in the labor force.Which expression would equal the BLS definition of the unemployment rate?

(Multiple Choice)

4.7/5

(87)

Question 146

Whom does the Bureau of Labor Statistics include in the discouraged workers group?

(Multiple Choice)

4.8/5

(84)

Question 147

What does the GDP gap measure?

(Essay)

4.9/5

(77)

Question 148

The four phases of a single business cycle are,in order,the trough,followed by a recovery,then a recession,ending with a peak.

(True/False)

4.8/5

(75)

Question 149

Cyclical unemployment is caused by:

(Multiple Choice)

4.8/5

(74)

Question 150

The ____ phase of the business cycle follows a recession.

(Multiple Choice)

4.8/5

(73)

Question 151

Which of the following is true?

(Multiple Choice)

4.8/5

(84)

Question 152

If a sizable number of workers were switched from full-time to half-time employment,then the official unemployment rate would:

(Multiple Choice)

4.9/5

(86)

Question 153

Which of the following is not a lagging indicator?

(Multiple Choice)

4.8/5

(83)

Question 154

Structural unemployment refers to short periods of unemployment needed to match jobs and job seekers.

(True/False)

4.9/5

(82)

Question 155

How do the Bureau of Labor Statistics and the Bureau of the Census estimate U.S.unemployment each month?

(Multiple Choice)

4.8/5

(71)

Question 156

When actual real GDP output is below full-employment real GDP,the GDP measures the cost of cyclical unemployment.

(True/False)

4.9/5

(77)

Question 157

The civilian labor force consists of:

(Multiple Choice)

4.7/5

(70)

Question 158

Why might the official measure of civilian unemployment in the U.S.be an understatement of actual unemployment?

(Multiple Choice)

4.7/5

(92)

Question 159

The economy's natural rate of unemployment consists of:

(Multiple Choice)

4.9/5

(72)

Question 160

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Exam 12: Business Cycles and Unemployment

The unemployment rate equals the number of persons:

Structural unemployment is frequently caused by:

In a dynamic economy under ideal conditions:

Andrea Burris lost her job in a company layoff 5 months ago.She would take a job if one was offered,but she has given up looking for work until the economy improves.She is:

Suppose u = those adults who are unemployed and seeking work; e = those adults who are employed; and NLF = those adults not in the labor force.Which expression would equal the BLS definition of the unemployment rate?

Whom does the Bureau of Labor Statistics include in the discouraged workers group?

What does the GDP gap measure?

The four phases of a single business cycle are,in order,the trough,followed by a recovery,then a recession,ending with a peak.

Cyclical unemployment is caused by:

The ____ phase of the business cycle follows a recession.

Which of the following is true?

If a sizable number of workers were switched from full-time to half-time employment,then the official unemployment rate would:

Which of the following is not a lagging indicator?

Structural unemployment refers to short periods of unemployment needed to match jobs and job seekers.

How do the Bureau of Labor Statistics and the Bureau of the Census estimate U.S.unemployment each month?

When actual real GDP output is below full-employment real GDP,the GDP measures the cost of cyclical unemployment.

The civilian labor force consists of:

Why might the official measure of civilian unemployment in the U.S.be an understatement of actual unemployment?

The economy's natural rate of unemployment consists of:

Introducing the Economic Way of Thinking

A: Appendix: Applying Graphs to Economics

Production Possibilities,Opportunity Cost,and Economic Growth

Part 1: Market Demand and Supply

Part 2: Market Demand and Supply

Markets in Action

Price Elasticity of Demand

Production Costs

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Labor Markets and Income Distribution

Gross Domestic Product

Inflation

Aggregate Demand and Supply

A: Appendix: The Self-Correcting Aggregate Demand and Supply Model

Fiscal Policy

The Public Sector

Federal Deficits,Surpluses,and the National Debt

Money and the Federal Reserve System

Money Creation

Monetary Policy

A: Appendix: Policy Disputes Using the Self-Correcting Aggregate Demand and Supply Model

International Trade and Finance

Economies in Transition

Growth and the Less-Developed Countries

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