Question 1

Between 1960 and 2010,the labor force participation rate for women

Accepted Answer

A) increased until about 1996. 
B) decreased in most years. 
C) did not change. 
D) first rose sharply and then,after 1996,fell equally sharply. 
E) did not change until 1992,after which it generally increased. 
A) increased until about 1996. 
B) decreased in most years. 
C) did not change. 
D) first rose sharply and then,after 1996,fell equally sharply. 
E) did not change until 1992,after which it generally increased.

Question 2

Over the last 50 years,the U.S.labor force participation rate of men has ________ by ________ the labor force participation of women has ________.As a result,the overall U.S.labor force participation has ________.

Accepted Answer

A) decreased;less than;increased;increased 
B) decreased;more than;increased;decreased 
C) decreased;about the same rate as;increased;remained steady 
D) increased;less than;decreased;decreased 
E) increased;more than;decreased;increased 
A) decreased;less than;increased;increased 
B) decreased;more than;increased;decreased 
C) decreased;about the same rate as;increased;remained steady 
D) increased;less than;decreased;decreased 
E) increased;more than;decreased;increased

Question 3

People over the age 16 with full-time jobs are considered to be

Accepted Answer

A) unemployed. 
B) not in the labor force. 
C) in the labor force and employed. 
D) in the labor force unemployed. 
E) in the working-age population only because they have full-time jobs. 
A) unemployed. 
B) not in the labor force. 
C) in the labor force and employed. 
D) in the labor force unemployed. 
E) in the working-age population only because they have full-time jobs.

Question 4

-Using the table above,the number of people in the labor force is

Accepted Answer

A) 145 million. 
B) 165 million. 
C) 175 million. 
D) 195 million. 
E) 185 million. 
A) 145 million. 
B) 165 million. 
C) 175 million. 
D) 195 million. 
E) 185 million.

Question 5

The labor force consists of

Accepted Answer

A) the number of people who are employed. 
B) the number of people who unemployed and who are actively seeking work. 
C) the number of people in the working-age population who are employed or unemployed. 
D) all people in the population aged 16 and over who are not in jail,a hospital,or an institution or in the U.S.Armed Forces. 
E) the number of people who are employed minus the number of the people who are unemployed. 
A) the number of people who are employed. 
B) the number of people who unemployed and who are actively seeking work. 
C) the number of people in the working-age population who are employed or unemployed. 
D) all people in the population aged 16 and over who are not in jail,a hospital,or an institution or in the U.S.Armed Forces. 
E) the number of people who are employed minus the number of the people who are unemployed.

Question 6

Suppose that Mel (who is 27)is not working,but looked for a job as recently as 2 months ago.Mel would like a job and he is available for work.He is considered

Accepted Answer

A) unemployed. 
B) a member of the labor force and unemployed. 
C) a member of the labor force,but not unemployed. 
D) a member of the working-age population 
E) a marginally attached worker. 
A) unemployed. 
B) a member of the labor force and unemployed. 
C) a member of the labor force,but not unemployed. 
D) a member of the working-age population 
E) a marginally attached worker.

Question 7

When the unemployment rate is greater than the natural unemployment rate,real GDP is

Accepted Answer

A) greater than potential GDP. 
B) less than potential GDP. 
C) unrelated to potential GDP. 
D) equal to potential GDP. 
E) greater than full employment GDP. 
A) greater than potential GDP. 
B) less than potential GDP. 
C) unrelated to potential GDP. 
D) equal to potential GDP. 
E) greater than full employment GDP.

Question 8

Between 1960 and 2011,

Accepted Answer

A) both the male and female labor force participation rates increased. 
B) the male labor force participation rate decreased rapidly,the female labor force participation rate decreased slowly,and the two rates are now equal. 
C) the male labor force participation rate decreased and the female labor force participation rate increased. 
D) both the male and female labor force participation rates decreased slowly. 
E) the male labor force participation rate did not change and the female labor force participation rate increased. 
A) both the male and female labor force participation rates increased. 
B) the male labor force participation rate decreased rapidly,the female labor force participation rate decreased slowly,and the two rates are now equal. 
C) the male labor force participation rate decreased and the female labor force participation rate increased. 
D) both the male and female labor force participation rates decreased slowly. 
E) the male labor force participation rate did not change and the female labor force participation rate increased.

Question 9

While in school,Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week.

Accepted Answer

A) Kiki is classified as a full-time worker,working 50 hours a week. 
B) Kiki is classified as a part-time worker,working 30 hours a week. 
C) Kiki is classified as a part-time worker,working 20 hours a week. 
D) Because Kiki is a student,she is not classified as working. 
E) Because Kiki is a student,she is classified as a full-time worker,working 20 hours a week at a paid job. 
A) Kiki is classified as a full-time worker,working 50 hours a week. 
B) Kiki is classified as a part-time worker,working 30 hours a week. 
C) Kiki is classified as a part-time worker,working 20 hours a week. 
D) Because Kiki is a student,she is not classified as working. 
E) Because Kiki is a student,she is classified as a full-time worker,working 20 hours a week at a paid job.

Question 10

Since 1960,the labor force participation rate in the United States has

Accepted Answer

A) increased for men and women. 
B) decreased for men and women. 
C) increased for men and decreased for women. 
D) increased for women and decreased for men. 
E) increased for women and not changed for men. 
A) increased for men and women. 
B) decreased for men and women. 
C) increased for men and decreased for women. 
D) increased for women and decreased for men. 
E) increased for women and not changed for men.

Question 11

Which of the following people would be considered unemployed?

Accepted Answer

A) Sam,a part-time worker who wishes to work full time 
B) Pat,who gave up looking for a job because he was discouraged about his job prospects 
C) Victoria,who does not have a job and has been actively searching for work,but turned down a job paying less than she desired 
D) Shirley,who is working but expects to be laid off at the end of the month 
E) Bobby,a full-time student in his last term before he graduates and who has not yet started to look for a job 
A) Sam,a part-time worker who wishes to work full time 
B) Pat,who gave up looking for a job because he was discouraged about his job prospects 
C) Victoria,who does not have a job and has been actively searching for work,but turned down a job paying less than she desired 
D) Shirley,who is working but expects to be laid off at the end of the month 
E) Bobby,a full-time student in his last term before he graduates and who has not yet started to look for a job

Question 12

-In the table above,the size of the labor force is

Accepted Answer

A) 80 million. 
B) 46 million. 
C) 42 million. 
D) 40 million. 
E) 34 million. 
A) 80 million. 
B) 46 million. 
C) 42 million. 
D) 40 million. 
E) 34 million.

Question 13

Potential GDP is

Accepted Answer

A) the value of the maximum amount of output that can be produced at any given time. 
B) the amount of real GDP that the economy would produce if it were at full employment of all resources. 
C) another name for real GDP. 
D) the amount of real GDP that the economy would produce if the unemployment rate was zero. 
E) the amount of real GDP that the economy would produce if all unemployment was cyclical unemployment. 
A) the value of the maximum amount of output that can be produced at any given time. 
B) the amount of real GDP that the economy would produce if it were at full employment of all resources. 
C) another name for real GDP. 
D) the amount of real GDP that the economy would produce if the unemployment rate was zero. 
E) the amount of real GDP that the economy would produce if all unemployment was cyclical unemployment.

Question 14

Potential GDP is reached when

Accepted Answer

A) unemployment is zero. 
B) there is no cyclical unemployment. 
C) unemployment is above full employment. 
D) unemployment is below full employment. 
E) the natural unemployment rate equals zero. 
A) unemployment is zero. 
B) there is no cyclical unemployment. 
C) unemployment is above full employment. 
D) unemployment is below full employment. 
E) the natural unemployment rate equals zero.

Question 15

Over the past two decades,the unemployment rates in

Accepted Answer

A) the Eurozone have been generally less than U.S.unemployment rates. 
B) the Eurozone have been generally greater than U.S.unemployment rates. 
C) the United Kingdom have almost always been much greater than the U.S.unemployment rates. 
D) Canada are less than the U.S.unemployment rates. 
E) Japan are much larger than those in the United States. 
A) the Eurozone have been generally less than U.S.unemployment rates. 
B) the Eurozone have been generally greater than U.S.unemployment rates. 
C) the United Kingdom have almost always been much greater than the U.S.unemployment rates. 
D) Canada are less than the U.S.unemployment rates. 
E) Japan are much larger than those in the United States.

Question 16

-From the table above,which gives data about the U.S.labor market in 1933,the unemployment rate is

Accepted Answer

A) 2 percent. 
B) 18 percent. 
C) 20 percent. 
D) 25 percent. 
E) 35 percent. 
A) 2 percent. 
B) 18 percent. 
C) 20 percent. 
D) 25 percent. 
E) 35 percent.

Question 17

What is a "marginally attached worker"?

Accepted Answer

A marginally attached worker is a person

Question 18

The unemployment rate equals

Accepted Answer

A) (number of people employed ÷ working-age population)× 100. 
B) (number of people unemployed ÷ labor force)× 100. 
C) (labor force ÷ working-age population)× 100. 
D) (number of people employed ÷ number of people age 16 and over)× 100. 
E) (number of people unemployed ÷ number of people employed)× 100. 
A) (number of people employed ÷ working-age population)× 100. 
B) (number of people unemployed ÷ labor force)× 100. 
C) (labor force ÷ working-age population)× 100. 
D) (number of people employed ÷ number of people age 16 and over)× 100. 
E) (number of people unemployed ÷ number of people employed)× 100.

Question 19

If the number of people in the labor force ________,then ________.

Accepted Answer

A) increases;the labor force participation rate increases 
B) increases;the unemployment rate definitely increases 
C) decreases;the unemployment rate definitely decreases 
D) decreases;the labor force participation rate increases 
E) decreases,the unemployment rate does not change 
A) increases;the labor force participation rate increases 
B) increases;the unemployment rate definitely increases 
C) decreases;the unemployment rate definitely decreases 
D) decreases;the labor force participation rate increases 
E) decreases,the unemployment rate does not change

Question 20

Bill just graduated with his degree in economics.Through Career Services he submitted his resume to several companies and he will visit them during the next two weeks.Bill is considered

Accepted Answer

A) not in the labor force. 
B) frictionally unemployed. 
C) structurally unemployed. 
D) cyclically unemployed. 
E) employed because he is visiting firms. 
A) not in the labor force. 
B) frictionally unemployed. 
C) structurally unemployed. 
D) cyclically unemployed. 
E) employed because he is visiting firms.

Between 1960 and 2010,the labor force participation rate for women

Over the last 50 years,the U.S.labor force participation rate of men has by the labor force participation of women has .As a result,the overall U.S.labor force participation has .

People over the age 16 with full-time jobs are considered to be

-Using the table above,the number of people in the labor force is

The labor force consists of

Suppose that Mel (who is 27)is not working,but looked for a job as recently as 2 months ago.Mel would like a job and he is available for work.He is considered

When the unemployment rate is greater than the natural unemployment rate,real GDP is

Between 1960 and 2011,

While in school,Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week.

Since 1960,the labor force participation rate in the United States has

Which of the following people would be considered unemployed?

-In the table above,the size of the labor force is

Potential GDP is

Potential GDP is reached when

Over the past two decades,the unemployment rates in

-From the table above,which gives data about the U.S.labor market in 1933,the unemployment rate is

What is a "marginally attached worker"?

The unemployment rate equals

If the number of people in the labor force ,then .

Bill just graduated with his degree in economics.Through Career Services he submitted his resume to several companies and he will visit them during the next two weeks.Bill is considered

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

Between 1960 and 2010,the labor force participation rate for women

Over the last 50 years,the U.S.labor force participation rate of men has ________ by ________ the labor force participation of women has ________.As a result,the overall U.S.labor force participation has ________.

People over the age 16 with full-time jobs are considered to be

-Using the table above,the number of people in the labor force is

The labor force consists of

Suppose that Mel (who is 27)is not working,but looked for a job as recently as 2 months ago.Mel would like a job and he is available for work.He is considered

When the unemployment rate is greater than the natural unemployment rate,real GDP is

Between 1960 and 2011,

While in school,Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week.

Since 1960,the labor force participation rate in the United States has

Which of the following people would be considered unemployed?

-In the table above,the size of the labor force is

Potential GDP is

Potential GDP is reached when

Over the past two decades,the unemployment rates in

-From the table above,which gives data about the U.S.labor market in 1933,the unemployment rate is

What is a "marginally attached worker"?

The unemployment rate equals

If the number of people in the labor force ________,then ________.

Bill just graduated with his degree in economics.Through Career Services he submitted his resume to several companies and he will visit them during the next two weeks.Bill is considered

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

Over the last 50 years,the U.S.labor force participation rate of men has by the labor force participation of women has .As a result,the overall U.S.labor force participation has .

If the number of people in the labor force ,then .