Question 1

What is a "marginally attached worker"?

Accepted Answer

A marginally attached worker is a person

Question 2

When an individual is frictionally unemployed, the unemployment arises in part from

Accepted Answer

A)  a short-term elimination of jobs because of a slowdown in business activity. 
B)  individuals searching for appropriate employment. 
C)  the permanent elimination of jobs because of a change in the structure of the economy. 
D)  a reduction in the overall demand for workers' skills. 
A)  a short-term elimination of jobs because of a slowdown in business activity. 
B)  individuals searching for appropriate employment. 
C)  the permanent elimination of jobs because of a change in the structure of the economy. 
D)  a reduction in the overall demand for workers' skills.

Question 3

-In the table above, what price level belongs in space D?

Accepted Answer

A)  125 
B)  130 
C)  140 
D)  145 
A)  125 
B)  130 
C)  140 
D)  145

Question 4

Which of the following is NOT considered to be in the labor force?

Accepted Answer

A)  a student who works part-time 
B)  a person who is not working but who has tried to find a job in the past week 
C)  a person who is waiting to start a new job in the next 30 days 
D)  a person who is not working and who has not tried to find a job 
A)  a student who works part-time 
B)  a person who is not working but who has tried to find a job in the past week 
C)  a person who is waiting to start a new job in the next 30 days 
D)  a person who is not working and who has not tried to find a job

Question 5

A labor force survey in Brownland records the following data:
Employed: 189,000
Unemployed: 15,000
Not in the labor force: 84,000
a) Calculate the unemployment rate.
b) Calculate the labor force participation rate.

Accepted Answer

a) The unemployment rate is the number o

Question 6

The table below shows data regarding Germany's labor market.   The data show that Germany's unemployment rate in 2007 was

Accepted Answer

A)  9.8 percent. 
B)  8.4 percent 
C)  5.6 percent 
D)  More information is needed to answer this question. 
A)  9.8 percent. 
B)  8.4 percent 
C)  5.6 percent 
D)  More information is needed to answer this question.

Question 7

The table below shows data regarding Germany's labor market.   The data show that Germany's labor force participation rate is ________ in 2007.

Accepted Answer

A)  80 percent 
B)  47.5 percent 
C)  67 percent 
D)  78 percent 
A)  80 percent 
B)  47.5 percent 
C)  67 percent 
D)  78 percent

Question 8

Frictional, structural and cyclical unemployment are three classifications of unemployment.

Accepted Answer

A) True 
 B)False

Question 9

Suppose the working-age population is 150 million, the labor force is 125 million, and employment is 120 million.
a) What is the unemployment rate?
b) Now suppose that 2 million students graduate from college and begin to look for jobs. What is the new unemployment rate if none of the students have found jobs yet?
c) Suppose that all 2 million students find jobs. What is the unemployment rate now?

Accepted Answer

a) The unemployment rate is (5 million u

Question 10

-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. 
A)  80 million. 
B)  46 million. 
C)  42 million. 
D)  40 million.

Question 11

-Using the data in the above table, the labor force is ________ million.

Accepted Answer

A)  215 
B)  120 
C)  125 
D)  165 
A)  215 
B)  120 
C)  125 
D)  165

Question 12

If a worker is temporarily laid off because the economy is in a recession

Accepted Answer

A)  frictional unemployment increases. 
B)  structural unemployment increases. 
C)  the size of the labor force rises. 
D)  cyclical unemployment increases. 
A)  frictional unemployment increases. 
B)  structural unemployment increases. 
C)  the size of the labor force rises. 
D)  cyclical unemployment increases.

Question 13

Cyclical unemployment occurs when

Accepted Answer

A)  individuals enter into the labor market making the rounds of potential employers. 
B)  individuals with skills no longer valued in the labor market cannot find employment. 
C)  individuals give up the search for employment. 
D)  a business cycle recession decreases employment. 
A)  individuals enter into the labor market making the rounds of potential employers. 
B)  individuals with skills no longer valued in the labor market cannot find employment. 
C)  individuals give up the search for employment. 
D)  a business cycle recession decreases employment.

Question 14

When cyclical unemployment increases and other things remain the same,

Accepted Answer

A)  the natural unemployment rate increases. 
B)  the amount of frictional unemployment increases. 
C)  the amount of structural unemployment decreases. 
D)  the natural unemployment rate does not change. 
A)  the natural unemployment rate increases. 
B)  the amount of frictional unemployment increases. 
C)  the amount of structural unemployment decreases. 
D)  the natural unemployment rate does not change.

Question 15

How is the unemployment rate calculated? Include in your answer the process by which the U.S. Census Bureau classifies the data it collects in its Current Population Survey.

Accepted Answer

The U.S. Census Bureau conducts the Curr

Question 16

Suppose the country of Tiny Town decided to open its borders to free trade. As a result, a number of its workers lost their jobs to international competition and can't find new jobs because their skills don't match what is required for job openings. The workers who lost their jobs and searched for new ones are best be considered part of

Accepted Answer

A)  frictional unemployment. 
B)  structural unemployment 
C)  cyclical unemployment. 
D)  discouraged workers. 
A)  frictional unemployment. 
B)  structural unemployment 
C)  cyclical unemployment. 
D)  discouraged workers.

Question 17

-The labor force participation rate shows the percentage of

Accepted Answer

A)  people not working, but who want to work. 
B)  people who are not actively participating in meaningful economic activity. 
C)  new entrants into the labor force. 
D)  non-institutionalized working-age people who are actually working or seeking employment. 
A)  people not working, but who want to work. 
B)  people who are not actively participating in meaningful economic activity. 
C)  new entrants into the labor force. 
D)  non-institutionalized working-age people who are actually working or seeking employment.

Question 18

Which statement CORRECTLY describes "structural unemployment"?

Accepted Answer

A)  Structural unemployment occurs mainly during recessions. 
B)  Structural unemployment is also called "frictional unemployment." 
C)  Structural unemployment occurs even when the economy is at the natural unemployment rate. 
D)  The amount of structural unemployment depends on normal labor turnover. 
A)  Structural unemployment occurs mainly during recessions. 
B)  Structural unemployment is also called "frictional unemployment." 
C)  Structural unemployment occurs even when the economy is at the natural unemployment rate. 
D)  The amount of structural unemployment depends on normal labor turnover.

Question 19

This type of unemployment reflects the normal amount of unemployed workers who possess skills that will enable them to find another job.

Accepted Answer

A)  cyclical unemployment 
B)  frictional unemployment 
C)  structural unemployment 
D)  None of the above answers is correct. 
A)  cyclical unemployment 
B)  frictional unemployment 
C)  structural unemployment 
D)  None of the above answers is correct.

Question 20

The commodity substitution bias is that

Accepted Answer

A)  consumers substitute high-quality goods for low-quality goods. 
B)  government spending is a good substitute for investment expenditures. 
C)  national saving and foreign borrowing are interchangeable. 
D)  consumers decrease the quantity they buy of goods whose relative prices rise and increase the quantity of goods whose relative price falls. 
A)  consumers substitute high-quality goods for low-quality goods. 
B)  government spending is a good substitute for investment expenditures. 
C)  national saving and foreign borrowing are interchangeable. 
D)  consumers decrease the quantity they buy of goods whose relative prices rise and increase the quantity of goods whose relative price falls.

What is a "marginally attached worker"?

When an individual is frictionally unemployed, the unemployment arises in part from

-In the table above, what price level belongs in space D?

Which of the following is NOT considered to be in the labor force?

A labor force survey in Brownland records the following data: Employed: 189,000 Unemployed: 15,000 Not in the labor force: 84,000 a) Calculate the unemployment rate. b) Calculate the labor force participation rate.

The table below shows data regarding Germany's labor market. The data show that Germany's unemployment rate in 2007 was

The table below shows data regarding Germany's labor market. The data show that Germany's labor force participation rate is ________ in 2007.

Frictional, structural and cyclical unemployment are three classifications of unemployment.

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

-Using the data in the above table, the labor force is ________ million.

If a worker is temporarily laid off because the economy is in a recession

Cyclical unemployment occurs when

When cyclical unemployment increases and other things remain the same,

How is the unemployment rate calculated? Include in your answer the process by which the U.S. Census Bureau classifies the data it collects in its Current Population Survey.

-The labor force participation rate shows the percentage of

Which statement CORRECTLY describes "structural unemployment"?

This type of unemployment reflects the normal amount of unemployed workers who possess skills that will enable them to find another job.

The commodity substitution bias is that

What Is Economics

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Exam 5: Monitoring Jobs and Inflation

What is a "marginally attached worker"?

When an individual is frictionally unemployed, the unemployment arises in part from

-In the table above, what price level belongs in space D?

Which of the following is NOT considered to be in the labor force?

A labor force survey in Brownland records the following data: Employed: 189,000 Unemployed: 15,000 Not in the labor force: 84,000 a) Calculate the unemployment rate. b) Calculate the labor force participation rate.

The table below shows data regarding Germany's labor market. The data show that Germany's unemployment rate in 2007 was

The table below shows data regarding Germany's labor market. The data show that Germany's labor force participation rate is ________ in 2007.

Frictional, structural and cyclical unemployment are three classifications of unemployment.

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

-Using the data in the above table, the labor force is ________ million.

If a worker is temporarily laid off because the economy is in a recession

Cyclical unemployment occurs when

When cyclical unemployment increases and other things remain the same,

How is the unemployment rate calculated? Include in your answer the process by which the U.S. Census Bureau classifies the data it collects in its Current Population Survey.

-The labor force participation rate shows the percentage of

Which statement CORRECTLY describes "structural unemployment"?

This type of unemployment reflects the normal amount of unemployed workers who possess skills that will enable them to find another job.

The commodity substitution bias is that

What Is Economics

The Economic Problem

Demand and Supply

Measuring Gdp and Economic Growth

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

International Trade Policy

Filters