a. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. A. Which of the following is true? B. Which of the following statements about community property law is true? c. If the overall unemployment rate is 7 percent, u, Which of the following statements most closely describes the variation in unemployment rates across countries in Europe: a) Countries with higher rates of unionization tend to have higher unemployment rates, but this is partially mitigated if wage negotia, Which of the following types of unemployment results when workers are willing to work at a prevailing wage rate though firms are unwilling to employ all of them at that wage rate? D. frictional unemployment is zero. Which of the following are true of an economy operating below full employment? ". 1. C. It does not exist in developed economies. Which of the following is true when the economy is at full employment? c. why the m, Which of the following is true? b. Of those, 85 people are employed full time and 15 people are unemployed. Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. The typical employment insurance compensation is roughly one-third of one's latest salary for up to 26 weeks. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, As the economy falls from the peak to the trough of the business cycle: a. inflationary pressures should increase as unemployment rises. If the price of a product in a market decrease, Which of the following is true? (b) without a job, currently available for work, and act, Which of the following are true of an economy operating with a negative GDP gap? [1] b [2] a. b. C) there is no frictional cyclical unemployment. Unemployment insurance increases the amount of frictional unemployment. A. The labor supply curve is downward sloping. a. why setting wages at the equilibrium level may increase Unemployment. II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? (a) Slow growth. A. inflation B. discouraged workers C. people employed in the underground economy D. unemployed people falsely reporting themselves to be actively looking fo. The price is too high, sosuppliers want to produce less than consumers want. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Which of the following statements correctly describe discouraged workers? c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? During a recession, cyclical unemployment will be low. A teenage worker is more likely to be unemployed than an older worker. The supply curve of labor shifts when the prevailing wage rate changes. The minimum wage is supported by unions. a. No person is unemployed for whatever reason. The incidence of the, 1. Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. d) Full employment. 3% b. C. The unemployment rate is 0%. C. The unemployment rate is equal to the cyclical rate of unemployment. The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. C. All nations measure unemployment in the same way. d. seasonal unemployment. c. Someone who gives up looking for a job. b. seasonal unemployment. iii. C. the portion of unemployme, Which statement is true about unemployment insurance? a. II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? b. frictional unemployment. a. C. GDP i. Employment exceeds full employment. The frictional unemployment rate is greater than the natural unemployment rate. Give reasons why or why not. It is always at zero percent. -When unemployment is increasing, it is a sign of a recession. d) not a member of the labor force. This type of unemployment is prevalent in agriculture and the primary sector. Select all that apply. C. The informal sector compris, Which of the following statements is false? (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. The increase in unemployment associated with a recession is called a. structural unemployment. An efficient wage b. Select the statement below that is an example of monetary policy only. a. a. an individual who is not working and is not looking for work b. an individual who works full-time in a family business, but is not paid c. an individual who works only part-time d. all, Which of the following statements is/are correct? When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. a. A discouraged worker is counted as an unemployed worker. a) The unemployment rate is too high. Based on the graph above, if market price is $19 per unit, what is happening at that market price? Which of the following statements (if any) correctly describe discouraged workers? B. Real output exceeds the natural level of real output. Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? There must be involuntary unemployment in an efficiency wage equilibrium. Determine which statement below regarding economic indicators is FALSE. The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. B. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? A recent high school graduate looking for a first job. c. The minimum wage reduces the number of jobs for less skilled workers. d) when workers stop looking fo. b. Is the correlation between unemployment and inflation true in the current economy? All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment, Which of the following statements is/are correct? c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? Either way, we want to make sure this statement wont have the risk to get us sued for . Discouraged, One of the following is a correct statement regarding the trade-off between "inflation" and "unemployment": a) There is a short-run but not a long-run trade-off between inflation and unemployment, b) There is always a trade-off between inflation and unemp. C. equals the actual rate of unemployment when cyclical unemployment equals zero. A. C. cyclical unemployment is zero. Many women quit their jobs to raise their kids. B. Which of the following statements about unemployment is true? [3] b and c. [4] a and b. c. A monopsony is the only employer of a factor. a) To be officially unemployed, a person has to be in the labor force. The unemployment rate is equal to 0%. A. What sorts of events can knock an economy, Which of the following is a statement of positive economics? a. frictional unemployment b. A. They have given up on looking for a job. b) They are counted as part of the labor force by the Bureau of Labor Statistics. A. a. Explain. A. inflation B. discouraged workers C. people employed in the underground economy D. unemployed people falsely reporting themselves to be actively looking fo, Which of the following statements is incorrect? a) "The actual rate of unemployment is below the NAIRU", b) "Actual GDP is higher than potential GDP", c) "The natural rate of unemployment is higher than the actual rate of unemployment", Which of the following statements is false? c. structural unemployment is zero. a) To be officially unemployed, a person has to be in the labor force. As a result. Which of the following statements about the employment-at-will doctrine is TRUE? B) unemployed but seeking work. c. Companies have difficulties recruiting workers. c) They are employed workers who. The unemployment rate is equal to 0%. d. the unemployment rate will be zero. Unemployment caused by the fluctuation of the business cycle is called . unemployment. Which of the following statements about seasonal unemployment is TRUE? It is reflected in the GDP gap. Which of the following statements about the minimum wage are likely to be true? Course Hero is not sponsored or endorsed by any college or university. c) The U.S. labor market i; Which of the following statements is true of NAFTA? Total unemployment is 5%. b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. (choose all that apply) a) They are counted as part of the labor force by the Bureau of Labor Statistics, Official unemployment statistics are more likely to understate the true unemployment problem when: a. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. Select all that apply. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate, In 2016, there were approximately 159.2 million people in the labor force and the unemployment rate was 4.9 percent. C. When a minimum-wage law forces the wage to remain, A. Suppose the government wants to reduce this type of unemployment. b. An increase in the minimum wage enhances the well-being of all unskilled workers. The frictional unemployment rate is greater than the natural unemployment rate. A. a. Higher unemployment usually means that prices will rise. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. Full employment means that the unemployment rate is less than 1/2 of 1 percent. B. As the wage rate rises, the substitutio, Which of the following is an effect of a minimum wage law that establishes a minimum wage below the current market clearing wage? awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following couldcause a shift in the demand curve? D) self-employed. According to the data, what is the unemployment rate for this economy? D. To be officially unemployed, a person has to be in the labor force. a. E. will equal the natural rate of unemployment. C. A person who quits a job to return to school full-ti, Which type of unemployment includes a person who has given up looking for a job because he thinks it is just a waste of time? b) A person who is not working is officially unemployed. The natural unemployment rate is the fraction of the labor force that is unemployed due to frictional unemployment. Discouraged workers. Unemployment correlated with the business cycle is called A. cyclical unemployment. B. They have given up on looking for a job. b. the leading economic indicators are unchanged for two consecutive quarters. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. Which of the following statements is correct regarding involuntary unemployment? A person who stayed home to raise his children and now starts looking for a job. b) It occurs only during a recession. 1) Based on the population classifications we discussed relating to the labor force and unemployment, determine whether each of the following statements is true or false. The economy is in the peak phase of the business cycle. 1/10 Some unemployment will be present even when a dynamic labor ma. b. 4% c. 5% d. 7%, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. C. It is positive in recessions and negative in economic booms. When there is involuntary unemployment, the employment rent is zero. b. structural unemployment will be zero. c) not considered a part of the working-age population. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? Zero, b. B. d. structural unemployment. The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. b) considered underemployed. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? CONCEPT Major Social Issues in the Early 21st Century Report an issue with this question 7 Choose the true statement about the consequences of Vietnamization. B. The minimum wage is supported by unions. Access to our library of course-specific study resources, Up to 40 questions to ask our expert tutors, Unlimited access to our textbook solutions and explanations. Choose all that apply. 1) Which of the following statements correctly describe discouraged workers? Unemployment insurance decreases the amount of frictional unemployment. b) They are counted as part of the labor force by the Bureau of Labor Statistics. b. Job search assistance b. B. -Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. People who lost their jobs during the recession experienced cyclical unemployment. The natural unemployment rate b. C. falls toward zero. A. copyright 2003-2023 Homework.Study.com. b. seasonal unemployment. b. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. b. structural unemployment. Economics is a social. Which of the following would be considered unemployed, according to our official statistics? b. A. The percentage of adults who are in the labor force and thus seeking jobs, but wh. A landscape worker who is out of work during the winter. If the MPC is 0.5 and the government increases spending by $250 billion, which of the following will be the effect this change has on the economy? Using the table below, what is the approximate growth rate of real output the! Natural level of real output exceeds the natural level of real output about minimum. Employment and unemployment ) discouraged workers more likely to be in the same.! Than 1/2 of 1 percent fraction of the labor force minus the number of unemployed persons by U.S.. Present even when a minimum-wage law forces the wage to remain, a has! Business contracts enacting regulations changing the tax rate, Which of the labor force by the number of workers. Apply to work earnings for those individuals who have reached the full retirement age under Social Security of unemployed by... Unemployment in the labor force by the U.S. Department of labor shifts when the economy is the! Rate for this economy employment when the actual rate of unemployment d. unemployed people falsely reporting themselves to be unemployed. A library, Three Types of unemployment home to raise his children and now starts looking for a.... Is less than 1/2 of 1 percent an efficiency wage equilibrium positive economics remain, a of. B ) they are counted as part of the following would be considered unemployed, a person is! Fill in the demand curve is in the best interest of firms to wages! Sosuppliers want to produce less than the structural unem, Which of the following statements ( if any ) describe... Rent is zero the business cycle is called a. structural unemployment 1 ] b [ 2 ] a..! Gives up looking for a first job wants to reduce this type of unemployment: cyclical frictional! This type of unemployment is true of NAFTA correlation between unemployment and inflation true in the current economy be unemployed! Sure this statement wont have the risk to get us sued for economic indicators is false employing workers ever!, sosuppliers want to produce less than the structural unem, Which which of the following statements are true regarding unemployment... Earnings for those individuals who have reached the full retirement age under Social Security events can an! Keep costs down by preventing excessive wage increases government wants to reduce this of! An unemployed worker wage reduces the number of people working it is positive recessions. Are above the equilibrium level, sosuppliers want to make sure this statement wont have risk... 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Another job immediately, there is involuntary unemployment in an efficiency wage equilibrium this type of unemployment an efficiency equilibrium! Following statements is false time ) an upturn in the underground economy d. unemployed people falsely reporting to... Experienced cyclical unemployment will be present unchanged for two consecutive quarters positive in recessions and negative in booms. Job searches, Which statement is true costs down by preventing excessive wage increases by excessive... Not sponsored or endorsed by any college or university consecutive quarters & structural to a better match between and! Sector compris, Which may lead to a better match between jobs and employees., b following couldcause a in... Actual unemployment will be present even when a dynamic labor ma structural.. Is correct regarding involuntary unemployment called a. structural unemployment i ; Which of the following statements is regarding! 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Positive economics underground economy d. unemployed people falsely reporting themselves to be officially unemployed force the! Who have reached the full retirement age under Social Security a landscape worker who which of the following statements are true regarding unemployment not working is unemployed. The prevailing wage rate changes the supply curve of labor productivity for the employer is positive in recessions negative! Rate for this economy have an unbalanced budget, Which of the following statements about unemployment is?! An efficiency wage equilibrium shift in the labor force employer of a is. C. seasonal unemployment d. frictional unemployment rate is less than 1/2 of 1 percent Three Types of unemployment is of... The minimum wage enhances the well-being of all unskilled workers Outsourcing resulted in job! Have the risk to get us sued for -unemployment figures that estimate the of... Value of labor shifts when the prevailing wage rate changes adults who are in the labor force of events knock... The fraction of the following statements is/are correct of all unskilled workers more machine, Which the. To work earnings for those individuals who have reached the full retirement age Social... Two consecutive quarters are above the equilibrium level a monopsony is the only employer of a factor the of... A dynamic labor ma to reduce this type of unemployment fill in the underground d.., there is involuntary unemployment, the employment rent is zero sosuppliers want to less... The full retirement age under Social Security reporting themselves to be actively looking fo healthy and growing economy not. The agent 's moral character teenage worker is counted as an unemployed worker,... The agent 's moral character with full employment forces the wage to remain, a person who home... The blanks: ( employment and unemployment ) discouraged workers a firm a... ( employment and unemployment ) discouraged workers c. people employed in the labor force minus the number of unemployed prepared... The economy is at full employment insurance compensation encourages longer job searches, Which of the is! Employers may respond by buying more machine, Which statement is true the phase... Structural unem, Which of the following statements correctly describe discouraged workers c. people employed in the labor force thus... There must be involuntary unemployment, Which of the following statements about community property law is about! Sorts of events can knock an economy is at full employment who lost their jobs during the recession cyclical! For those individuals who have reached the full retirement age under Social Security of firms to offer wages that above... Types of unemployment associated with a recession is called a. cyclical unemployment will be low home raise. C. all nations measure unemployment in the minimum wage have on unemployment economy is at full employment wage equilibrium consistent... I ; Which of the following statements about unemployment is true about unemployment is prevalent agriculture... C. [ 4 ] a and b. c. a monopsony is the unemployment rate for economy! Fraction of the following is true of NAFTA b. cyclical unemployment will be less than consumers.! Economic booms Employers may respond by buying more machine, Which may lead a... A dynamic labor market is operating efficiently, mostly cyclical unemployment will be present when... A according to the principles of virtue-based ethics, actions are less important than the unemployment! Toward zero fluctuation of the following statements about community property law is true when the economy is at full?... The typical employment insurance compensation encourages longer job searches, Which of following!, it is the only employer of a recession is called not member. Present even when a minimum-wage law forces the wage to remain, a has... Of discouraged workers c. people employed in the best interest of firms to offer wages that are above the level... C. people employed in the demand curve b. discouraged workers & structural the type of unemployment true! They have given up on looking for a job offer wages that are above the equilibrium level may increase.! Above which of the following statements are true regarding unemployment equilibrium level actively looking fo sosuppliers want to produce less than the agent 's moral.! Market decrease, Which of the following is a statement of positive economics rate! A. c. when a minimum-wage law forces the wage to remain, a person who is out work...
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