Question 1

At full employment there still exists some unemployment because

Accepted Answer

A) some portion of our population will always be too lazy to work. 
B) there are always people too old or young to be in the labor force. 
C) the U.S.economy is constantly creating and destroying jobs. 
D) it is unnatural to have all people work 40 hours per week. 
E) real GDP can never exceed potential GDP. 
A) some portion of our population will always be too lazy to work. 
B) there are always people too old or young to be in the labor force. 
C) the U.S.economy is constantly creating and destroying jobs. 
D) it is unnatural to have all people work 40 hours per week. 
E) real GDP can never exceed potential GDP.

Question 2

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 3

What are the three types of unemployment and how do they change over the business cycle?

Accepted Answer

The three types of unemployment are fric

Question 4

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 5

In the Current Population Survey,a person is considered unemployed if the person

Accepted Answer

A) is without a job. 
B) is working anything less than 40 hours per week. 
C) is working without pay. 
D) does not have a job and is actively looking for a job. 
E) is working less than 20 hours per week. 
A) is without a job. 
B) is working anything less than 40 hours per week. 
C) is working without pay. 
D) does not have a job and is actively looking for a job. 
E) is working less than 20 hours per week.

Question 6

How does the Current Population Survey determine if a person should be counted in the labor force?

Accepted Answer

To be in the labor force,a person must e

Question 7

Which of the following is true?

Accepted Answer

A) To be classified as employed,you must be a full-time worker at a paid job. 
B) To be classified as employed,you must work at least 20 hours per week at a paid job. 
C) Part-time workers are all those who work less than 40 hours per week. 
D) To be classified as employed,you must work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business. 
E) If you are not working and turn down a job offer in the previous week,you are no longer classified as unemployed. 
A) To be classified as employed,you must be a full-time worker at a paid job. 
B) To be classified as employed,you must work at least 20 hours per week at a paid job. 
C) Part-time workers are all those who work less than 40 hours per week. 
D) To be classified as employed,you must work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business. 
E) If you are not working and turn down a job offer in the previous week,you are no longer classified as unemployed.

Question 8

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

Question 9

-Based on the above table,the unemployment rate is

Accepted Answer

A) 10 percent. 
B) 11.1 percent. 
C) 7.1 percent. 
D) 5.4 percent. 
E) 8.6 percent. 
A) 10 percent. 
B) 11.1 percent. 
C) 7.1 percent. 
D) 5.4 percent. 
E) 8.6 percent.

Question 10

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 11

-Based on the information in the above table,what is the unemployment rate?

Accepted Answer

The unemployment rat

Question 12

Full employment occurs when

Accepted Answer

A) structural unemployment is zero. 
B) cyclical unemployment is zero. 
C) frictional unemployment is zero. 
D) structural and frictional unemployment are zero. 
E) the unemployment rate equals zero. 
A) structural unemployment is zero. 
B) cyclical unemployment is zero. 
C) frictional unemployment is zero. 
D) structural and frictional unemployment are zero. 
E) the unemployment rate equals zero.

Question 13

A worker is considered part time if the worker

Accepted Answer

A) usually works less than 40 hours per week. 
B) is not employed but is actively looking for work. 
C) is a full-time student without a job. 
D) usually works less than 35 hours per week. 
E) is not employed and is not actively looking for work. 
A) usually works less than 40 hours per week. 
B) is not employed but is actively looking for work. 
C) is a full-time student without a job. 
D) usually works less than 35 hours per week. 
E) is not employed and is not actively looking for work.

Question 14

-Using the table above,the unemployment rate is

Accepted Answer

A) 5.13 percent. 
B) 5.88 percent. 
C) 6.45 percent. 
D) 6.90 percent. 
E) 5.71 percent. 
A) 5.13 percent. 
B) 5.88 percent. 
C) 6.45 percent. 
D) 6.90 percent. 
E) 5.71 percent.

Question 15

During a recession,

Accepted Answer

A) real GDP is equal to potential GDP. 
B) real GDP is less than potential GDP. 
C) real GDP is greater than potential GDP. 
D) the relationship between real GDP and potential GDP no longer exists. 
E) the actual unemployment rate is less than the natural unemployment rate. 
A) real GDP is equal to potential GDP. 
B) real GDP is less than potential GDP. 
C) real GDP is greater than potential GDP. 
D) the relationship between real GDP and potential GDP no longer exists. 
E) the actual unemployment rate is less than the natural unemployment rate.

Question 16

Part-time workers are defined as people who are working

Accepted Answer

A) less than 20 hours per week. 
B) between 20 and 35 hours per week. 
C) less than 35 hours per week. 
D) more than 10 hours per week. 
E) fewer hours than they would want. 
A) less than 20 hours per week. 
B) between 20 and 35 hours per week. 
C) less than 35 hours per week. 
D) more than 10 hours per week. 
E) fewer hours than they would want.

Question 17

In 2008,as the economy moved into a recession,

Accepted Answer

A) cyclical unemployment increased. 
B) structural unemployment decreased. 
C) natural unemployment decreased. 
D) frictional unemployment was not affected. 
E) the number of marginally attached workers decreased. 
A) cyclical unemployment increased. 
B) structural unemployment decreased. 
C) natural unemployment decreased. 
D) frictional unemployment was not affected. 
E) the number of marginally attached workers decreased.

Question 18

In measuring the unemployment rate,part-time workers are ________,and discouraged workers are ________.

Accepted Answer

A) included as employed;included as unemployed 
B) excluded;included as unemployed 
C) included as employed;excluded 
D) excluded;excluded 
E) included as unemployed if they are involuntary part-time workers;excluded 
A) included as employed;included as unemployed 
B) excluded;included as unemployed 
C) included as employed;excluded 
D) excluded;excluded 
E) included as unemployed if they are involuntary part-time workers;excluded

Question 19

If Jose is 22-years old,is available to work but does not have a job and made no specific efforts to find a job for the previous month,Jose is classified in the Current Population Survey as

Accepted Answer

A) unemployed. 
B) employed. 
C) not in the working-age population. 
D) not in the labor force. 
E) in the labor force but not in the working-age population. 
A) unemployed. 
B) employed. 
C) not in the working-age population. 
D) not in the labor force. 
E) in the labor force but not in the working-age population.

Question 20

If the Federal government expands its support of education and retraining of workers who have been unemployed for a relatively long length of time,which type of unemployment would the education and retraining most likely be targeted?

Accepted Answer

A) cyclical 
B) government 
C) structural 
D) frictional 
E) discouraged 
A) cyclical 
B) government 
C) structural 
D) frictional 
E) discouraged

At full employment there still exists some unemployment because

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

What are the three types of unemployment and how do they change over the business cycle?

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.

In the Current Population Survey,a person is considered unemployed if the person

How does the Current Population Survey determine if a person should be counted in the labor force?

Which of the following is true?

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

-Based on the above table,the unemployment rate is

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?

-Based on the information in the above table,what is the unemployment rate?

Full employment occurs when

A worker is considered part time if the worker

-Using the table above,the unemployment rate is

During a recession,

Part-time workers are defined as people who are working

In 2008,as the economy moved into a recession,

In measuring the unemployment rate,part-time workers are ,and discouraged workers are .

If Jose is 22-years old,is available to work but does not have a job and made no specific efforts to find a job for the previous month,Jose is classified in the Current Population Survey as

If the Federal government expands its support of education and retraining of workers who have been unemployed for a relatively long length of time,which type of unemployment would the education and retraining most likely be targeted?

Getting Started

The Usand 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

At full employment there still exists some unemployment because

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

What are the three types of unemployment and how do they change over the business cycle?

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.

In the Current Population Survey,a person is considered unemployed if the person

How does the Current Population Survey determine if a person should be counted in the labor force?

Which of the following is true?

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

-Based on the above table,the unemployment rate is

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?

-Based on the information in the above table,what is the unemployment rate?

Full employment occurs when

A worker is considered part time if the worker

-Using the table above,the unemployment rate is

During a recession,

Part-time workers are defined as people who are working

In 2008,as the economy moved into a recession,

In measuring the unemployment rate,part-time workers are ________,and discouraged workers are ________.

If Jose is 22-years old,is available to work but does not have a job and made no specific efforts to find a job for the previous month,Jose is classified in the Current Population Survey as

If the Federal government expands its support of education and retraining of workers who have been unemployed for a relatively long length of time,which type of unemployment would the education and retraining most likely be targeted?

Getting Started

The Usand 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

In measuring the unemployment rate,part-time workers are ,and discouraged workers are .