a. A person who is not working is officially unemployed. 1. Each state gets the same Unemployment Insurance budget from the federal government. It is possible to eliminate natural unemployment. a) To be officially unemployed, a person has to be in the labor force. b. B. b. C. The unemployment rate is equal to the cyclical rate of unemployment. Which of the following statements is true regarding international unemployment? Explain. b. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. d. It causes the natural rate of unemployment to rise. B. Some unemployment will be present even when a dynamic labor ma. a. Full employment means that the unemployment rate is less than 1/2 of 1 percent. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? B. An increase in the minimum wage has no effect on the well-being of middle-class families. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following is true? Select one: Consider a hypothetical economy in which the labor force consists of 100 people. a. A. (A) They are full-time workers who would like to work only part-time. Which of the following is not true when there is an inflationary gap? a. Seasonal unemployment happens when people are out of work due to the season. Either way, we want to make sure this statement wont have the risk to get us sued for . Which of the following is true? Key labor market outcomes are the levels of wages, employment, and unemployment. b) structural and frictional unemployment. B. b. seasonal unemployment. Which of the following statements is true? a. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. 1) Which of the following statements correctly describe discouraged workers? Mark all that apply. a. Suppose the government wants to reduce this type of unemployment. The variation in unemployment caused by the economy moving from expansion to recession or from recession to expansion is known as: a) Cyclical employment. A discouraged worker is counted as an unemployed worker. A minimum wage c. A union wage d. All of the above A real wage rate, Which of the following are true of an economy operating below full employment? All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment, Which of the following statements is/are correct? a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? Employment insurance compensation increases the opportunity cost of being. Minimum wage c. Employment protection laws d. Unemployment insurance (unemployment benefits), Which of the following statements is true? b. People quitting a job just long enough to look for and find another one. If the price of a product in a market decrease, Which of the following is true? c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? E. natural unemployment. 2. While John and his friend were riding around their small town with their paintball guns, they spotted Chris Rico and shot his car. The unemployment produced by fluctuations in economic activity is called _________. The economy is in the peak phase of the business cycle. a) To be officially unemployed, a person has to be in the labor force. Which of the following statements about unemployment is true? The increase in unemployment associated with a recession is called a. structural unemployment. b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? Involuntary c. Seasonal d. Voluntary. The unemployment rate is equal to the natural rate of unemployment. a. The unemployment rate is equal to the natural rate of unemployment. When the economy is at its full employment Real GDP, the unemployment rate is equal to a. zero. Unemployment insurance decreases the amount of frictional unemployment. c) Cyclical unemployment. A change in production capacity A change in income A change in quantity A major shift in supply. -Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor. c. cyclical unemployment. A person who is not working is officially unemployed. B. b. seasonal unemployment. If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. a. D. There is, The government sets an effective minimum wage for workers. c) Out of labor force: Out of paid work and looking for a job. Which of the following statements is true regarding the 5-M model? a. d. unemployed. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? Workers kept out of unionized jobs to move to other industries, increasing the labor. The number of people unemployed divided by the number of people employed. C. the unemployment rate is above the natural rate of unemployment. It is reflected in the GDP gap. They are counted as part of the labor force by the Bureau of Labor Statistics. The frictional unemployment rate is greater than the natural unemployment rate. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. structural unemployment falls and cyclical unemployment rises by the same amount. C. The unemployment rate is equal to the cyclical rate of unemployment. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. Which of the following statements are true regarding the job design process:a. People who lost their jobs during the recession experienced cyclical unemployment. Choose all that apply. a. C. A part-time worker. Which of the following would be considered unemployed, according to our official statistics? b. 20. A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job: A. is counted as out of the labor force but should be counted as unemployed. B) Natural unemployment - Cyclical unemployment. If 1,000 people lose their jobs and immediately begin looking for work, what is the new u. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. A. b) A person who is not working is officially unemployed. B. A teenage worker is more likely to be unemployed than an older worker. Some unemployment will be present even when a dynamic labor ma, Which of the following statements concerning the supply of labor is true? a) To be officially unemployed, a person has to be in the labor force. The labor supply curve is downward sloping. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. A. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? It is possible to eliminate natural unemployment. Derived demand for labor depends on the demand for the product labor produces. In the labor force? b. A. a. frictional unemployment b. the wage to rise above the equilibrium level c. conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs d. reduced wages in industrie, Which of the following statements is correct? The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. D. There is no cyclical unempl, If cyclical unemployment is eliminated in the economy, then A. the economy is considered to be at full employment. b. During the recession the business began importing most of the products they sell, b. A. It is possible to eliminate natural unemployment. The unemployment rate as fallen by 1 percentage point c. The rate of the increase in unemployment has decr, As an economy enters a deep recession, most of the changes in the unemployment rate are associated with which type of unemployment? 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. 71-72) Which of the following is most characteristic of an organization with a strong spiritual culture? B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. a. 4. Unemployment closely tied to the business cycle, e.g. An unemployment rate of 7 percent is a serious problem. Of those, 85 people are employed full time and 15 people are unemployed. An unemployment rate of 7 percent is a serious problem. Unemployment caused by the fluctuation of the business cycle is called . unemployment. Which of the following statements about unemployment is true? a. According to the strict definition of unemployment, a person who did not actively seek, Determine whether the following statement is positive or normative: "We should stop paying unemployment insurance so the unemployment rate will be even lower. Labor surplus B. marketing. 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? Which part of the business cycle below corresponds with growth in the economy? As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. e. All of the above. d) Labor force: the number of employed plus the unemployed. The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. higher unemployment during a recession. b. Some unemployment will be present even when a dynamic labor ma. B. will equal structural unemployment. . Zero, b. 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. 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. d. It causes the natural rate of unemployment to rise. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. b. The unemployment rate is understated due to: a) None of the above. Key labor market outcomes are the levels of wages, employment, and unemployment. Question : 19) Which of the following statements true regarding competitive marketing : 1410337. BUnemployment falls when production expands faster than labor force. c. It is always present, even in a healthy economy. Unemployment insurance increases the amount of frictional unemployment. To be officially unemployed, a person has to be in the labor force. Unemployment that is due to a recession is: a. involuntary unemployment. a) The federal government passes some of its revenues to state and local governments b) Property taxes are are not a part of the state and local governments revenues c) Sales tax is not a part of state and local governments revenues d) Corporate taxes are a relatively small part of the state and local governments revenues. The unemployment rate is equal to 0%. This answer has been confirmed as correct and helpful. d) Underemployed worked being counted a unemployed. During a recession, cyclical unemployment will be low. Government policies to help promote a stagnant economy c. Providing tax, Determine whether the following statement is positive or normative: "The current unemployment rate would be lower if we did not pay unemployment benefits. B. d. It causes the natural rate of unemployment to rise. Which of the following is true of cyclical unemployment? A person who stayed home to raise his children and now starts looking for a job. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. b. An increase in the real production always implies that unemployment rate will decline. Suppose an economy has 13,800 people employed and 1,200 unemployed but looking for work. c) The U.S. labor market i; Which of the following statements is true of NAFTA? Real output exceeds the natural level of real output. c. The minimum wage reduces the number of jobs for less skilled workers. Which of the following statements is true? a. 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? c. Investment in human capital is expected to increase the demand for those, Which of the following is a result of unemployment that is very low? Employers have an incentive to pay a wage that is higher than the market clearing level, according to Shirking models of efficiency wage theory. B. a) raising unemployment benefits. B) The union markup is relatively small for unionized firms in a competitive market. The labor force would decrease and the unemployment rate would decrease. 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? Which of the following policies would help achieve this goal? c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. Unions can either increase demand or decrease the supply of labor. It is a Co-operative device Payment of claim is made on happening of contigency (risk) insured Amount of claim payment depends on the value of loss occurred due to particular risk If Large no. b. what is the unemployment rate? a. C. It does not exist in developed economies. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. 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 minimum wage is good because it raises wages for the working poor. Select all that apply. I) Unemployment rates for low-skill workers are likely to decrease. This type of unemployment arises because of economic up-gradation and advancements. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? Employment at will is a legal term in the area of labor law. Which of the following statements are true regarding unemployment? Which of the following statements about the employment-at-will doctrine is TRUE? B. unemployment caused by changes in the industrial makeup of an economy. A person working for the family business after school without pay. d. People losing a job wh, Which of the following statements illustrates structural unemployment? Which of the following statements are true regarding unemployment? a. There is no cyclical unemployment in the economy. a. Retail sales measure the current outlook for the economy. A decline in the markup on wages by 10% along with no change in the pa. 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? (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. Employment exceeds full employment. People who lost their jobs during the recession experienced cyclical unemployment . (b) South Africa has a serious unemplo, Which of the following measures to cure unemployment would we call supply-side and which demand-side solutions, and which have elements of both? iv. ", Which of the following does the Theory of Efficiency Wages explain? c. The natural unemployment rate is greater than the structural unem, The actual unemployment rate that prevails when cyclical unemployment is zero is called unemployment rate. Is the correlation between unemployment and inflation true in the current economy? Someone who has lost her job in the last week. B. b. b. c. Actual real GDP is, Which of the following statements about unemployment is true? a. A. b. there is 0% cyclical unemployment. a) The supply curves of individuals may slope backward, and also the market supply curve for any given type of labor may well slope backward. Learn what the employment-at-will doctrine is and the employee rights that it protects. b. Select the statement below that is an example of monetary policy only. a. It is possible to eliminate natural unemployment. C) not in the labor force. Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. People who are out of work due to bad weather. Course Hero is not sponsored or endorsed by any college or university. 5 Which of the following statements are true regarding unemployment? a. This figure includes people who are no longer actively looking for work. In the official unemployment statistics, retired persons are officially classified as A) unemployed. b. an inflationary gap exists and wages are likely to rise. "The natural rate of unemployment is equal to frictional unemployment plus structural unemployment". In the long run monetary policy is neutral, it is only inflationary. The actual unemployment rate can never be at the natural rate. Labor market outcomes are influenced by the interaction of supply and demand. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. The incidence of the, 1. C. rate of cyclically unemployed. A recent high school graduate looking for a first job. c. the frictional unemployment rate. B. a. a. The unemployment rate has fallen by 1% b. Createyouraccount. a. Frictional unemployment implies a lack of available jobs. c. frictional unemployment will be zero. 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 best describes discouraged workers? (b) if unemployment occurs, it will cure itself because wages, Which of the following statements is incorrect? Check all that apply. Which of the following is true when the economy is at full employment? Unemployment that is caused by business recessions is called: a. frictional unemployment b. seasonal unemployment c. structural unemployment d. cyclical unemployment, If the actual rate of unemployment were 4.2%, while the natural rate of unemployment were 4.8%, what would the cyclical rate of unemployment be? D. seasonal unemployment. a. The unemployment rate in the United States was 8.1 percent in August 2012. b. A discouraged worker is counted as an unemployed worker. d. The doctrine helps lower labor hiring and firing costs, leading to higher unemployment rates. B. A. Check all that apply. A. Become a Study.com member to unlock this answer! d. the natural unemployment rate. Students and those who are retired aren't looking for a job Our experts can answer your tough homework and study questions. How does cyclical unemployment relate to a nation's production possibilities curve and how does cyclical unemployment behave across the business cycle? "Full employment" is said to exist when the unemployment rate equals a. zero. c. It is decided upon by the federal government. A. 1. Recessions begin at ______ and end at _____. Explain. 2.25 c. 3.33 d. Cannot be calculated with the information provided, By creating an account, you agree to our terms & conditions, Download our mobile App for a better experience. [1] b [2] a. A discouraged worker is counted as an unemployed worker. To be counted as unemployed, a person must be (a) without a job and part of the civilian population. B. )contractionary monetary policy; left b.)contractionary. Explain whether you agree or disagree with the statement. a. fluctuations of unemployment around its natural rate b. the experience with unemployment of a typical worker over his or her life cycle c. long-term trends in unemployment d. A and B e. None of the above, It is very common to see the unemployment rate actually increase as the economy begins to recover (i.e., after the trough). c. Companies have difficulties recruiting workers. c. Unemployed workers as a percentage of the population age over-sixteen. Which of the following statements is true regarding the natural unemployment rate? b. unemployment rates will be increasing while aggregate output is falling. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. Which one of the four statements below is not like the others? Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. At P3, which statement is true? The natural unemployment rate b. Which of the following statements regarding cyclical unemployment are not true? c. People over 65 who don't really want to work. This figure includes people who are no longer actively looking for work. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. Wages drop below the level of the minimum wage. Calculations of the official unemployment rate exclude: A) labor force. Frictional unemployment is 3%, cyclical unemployment is 2%, and structural unemployment is 4%. In the production function, all the inputs are assumed to be fixed. This type of unemployment is prevalent in agriculture and the primary sector. b. cyclical unemployment should increase and real GDP should decline. B. Frictional unemployment results from the process of matching workers and jobs. c. The minimum wage reduces the number of jobs for less skilled workers. 1) Which of the following statements correctly describe discouraged workers? If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. Define employed, unemployed and the labor force. When there is involuntary unemployment, the employment rent is zero. True B. Which of the following statements is true? Structural unemployment c. Cyclical unemployment d. Seasonal unemployment e. Voluntary unemplo. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following might help explain the higher productivity of union workers? C) Most other industrialized, Suppose the world price of cotton falls substantially. a) They have given up on looking for a job. a. Which of the following statements is true? -When unemployment is increasing, it is a sign of a recession. What defines a person as unemployed? c. structural unemployment is zero. (A) They are full-time workers who would like to work only part-time. A monopsony has a marginal factor cost curve which lies below its supply curve of labor. To be officially unemployed, a person has to be in the labor force. The natural unemployment rate b. Which of the following is not included in the natural rate of unemployment? (You may select more than one answer.) B. Frictional and structural unemployment are also equal to zero. Which of the following statements about full employment is correct? The unemployment rate equals the nature unemployment rate b. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. c. Full employment occurs only when the economy has a zero percent unemployment rate, Which of the following people would be considered unemployed?
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