c. A retired school teaching collecting social security benefits. D. t, Which of the following is not consistent with full employment? 5 Which of the following statements are true regarding unemployment? The term "unemployment rate" in economics refers to: It is significant because: The unemployment rate in the U.S. right now is: How has the unemployment rate changed over the last decade? C. A person who is working part-time but would like to be work. A U.S. software firm discharged 15 workers last month and transferred the work, Which of the following statements (if any) correctly describe discouraged workers? d. None of the above. a) The unemployment rate is too high. The minimum wage is good because it raises wages for the working poor. c) A person who is working part-time but would like to be workin. A) Firms usually tend to lay off workers than cut wages to reduce costs. 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. Unemployment caused by the fluctuation of the business cycle is called . unemployment. The natural unemployment rate is the unemployment rate that exists when there is no A) structural unemployment. c. There is no involuntary unemployment. B. d) Underemployed worked being counted a unemployed. b. Full employment is natural unemployment minus 100%. Derived demand for labor depends on the demand for the product labor produces. The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. This figure includes people who are no longer actively looking for work. B. unemployment caused by changes in the industrial makeup of an economy. Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor c. The published unemployment numbers fail to reflect the number of discouraged workers and "hidden unemployed" B. frictional unemployment would rise. Which of the following statements about the employment-at-will doctrine is TRUE? Hence, lesser will be premium It is neither Charity nor Gambling The people who are employed but not in the job they want to be in. (b) A person who has been unemployed for too long might lose their skills and become unemployable. 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? c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. The price is too high, sosuppliers want to produce less than consumers want. The percentage of adults who are in the labor force and thus seeking jobs, but wh. d) Full employment. a. a. Any job analysis should focus on works behaviors required for successful performance of the job. A person who has given up searching for work is called a. frictionally unemployed. Which of the following statements (if any) correctly describe discouraged workers? b. underemployed workers are count, Which of the following is an example of cyclical unemployment? E. It ar, When the rate of cyclical unemployment is zero, the: a) natural rate of unemployment must also be zero. A. A) Natural unemployment + Cyclical unemployment. See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. b. a. Suppose that some people are counted as unemployed when, to maintain unemployment compensation, they search for work only at places where they are unlikely to be hired. c. Unemployment exceeds the nat. b. b. b. C. rate of cyclically unemployed. As a recession begins, firms quickly make layoffs. b. (A) They are full-time workers who would like to work only part-time. a. c.Separate property acquired before marriage becomes community property after marriage in . Which one of the four statements below is not like the others? A. Which of the following is a statement of normative economics? B. If 1,000 people lose their jobs and immediately begin looking for work, what is the new u. Choose all that apply. b. b. d. It is the amount of unemployment that the economy normally experiences. C. equals the actual rate of unemployment when cyclical unemployment equals zero. Efficiency wages C. Frictional D. Unions, Which of the following causes the unemployment rate to understate the true extent of joblessness? C. All nations measure unemployment in the same way. 1. 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? Which of the following statements are true regardingunemployment? B. structural unemployment is zero. 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). Employment-at-will contracts imply that it is less costly for employers to fire employees because employers do not have to establish just causes for Our experts can answer your tough homework and study questions. b. Check all that apply. 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Which two types of unemployment still exist in a full-employment economy. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. a. b. the cyclical unemployment rate. b. unemployment rates will be increasing while aggregate output is falling. Some unemployment will be present even when a dynamic labor ma. C. Set, Which of the following is a statement of positive economics? b. c) Keynesian aggregate supply curve must be horizontal. Full employment means that the unemployment rate is less than 1/2 of 1 percent. Employment exceeds full employment. C. rate of cyclically unemployed. II. Employment exceeds full employment. Which of the following statements about seasonal unemployment is TRUE? A. b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? Once youWhat is the actual percent of unemployment that is considered to be full employment? a. Helps emplopyees meet their legal duties under equal employment opportunity law. 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. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? c. It is always present, even in a healthy economy. d. any, Natural unemployment is equal to which of the following? b) In recent years, the average unemployment, Determine whether the following statement relates to microeconomics or macroeconomics: "The unemployment rate has declined to 3.7% in the United States. Course Hero is not sponsored or endorsed by any college or university. It is possible to eliminate natural unemployment. b) A person who is not working is officially unemployed.. A. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? a. why setting wages at the equilibrium level may increase Unemployment. It is not considered a legitimate type of employment. Set a wage rate that will maximize the income of only some of its members. Which of the following is not included in the natural rate of unemployment? b. A discouraged worker is counted as an unemployed worker. Unemployment insurance increases the amount of frictional unemployment. c. The minimum wage reduces the number of jobs for less skilled workers. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. b. seasonal unemployment. a) They have given up on looking for a job. A. Wages drop below the level of the minimum wage. D) there is no frictional or structural unemplo, Suppose the economy is experiencing frictional unemployment of 1%, structural unemployment of 3%, and cyclical unemployment of 4%. If aggregate demand just increased, which of the following may have caused the increase? a. No person is unemployed for whatever reason. i) Juliet, who was fired when the company where she worked went bankrupt in a recession. Minimum wages are the predominant reason for unemployment in the U.S. economy. 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. According to the data, what is the unemployment rate for this economy? D. frictional unemployment. D. It is the amount of unemployment in the economy, adjusted for the effects of inflation. II. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Suppose the wage on the vertical axis refers to the real wage. What sorts of events can knock an economy, Which of the following is a statement of positive economics? Frictional unemployment is 2.3% and the economy is at full employment. I. A. Frictional unemployment is higher, on average, in the United States than in Canada. 2. The actual unemployment rate can never be at the natural rate. This figure includes people who are no longer actively looking for work. iv. d. structural unemployment. It is not considered a legitimate type of employment. 2020 - 2024 www.quesba.com | All rights reserved. Become a Study.com member to unlock this answer! c. the economy is at full employment. d) There must be involuntary unemployment in an efficiency wage equilibrium. d. frictional plu, 1. 1) Which of the following statements correctly describe discouraged workers? Discouraged workers. The natural unemployment rate b. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. C. cyclical unemployment is zero. c. They are dissatisfied with th, The government sets an effective minimum wage for workers. ", Which of the following is an example of an active labor market policy? D) discouraged workers. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. b. An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. Who do you call unemployed? Which of the following statements is true? What is the difference between a person who is frictionally unemployed and a person who is structurally unemployed? If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then what does the number of people employed equal to? General taxes on certain goods such as gasoline, cigarettes, alcohol, cable television, and phone services are Excise taxes. Which of the following is not true when there is an inflationary gap? Government expenditures create demand for goods and services. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Determine whether the following statement is positive or normative: "U.S. workers deserve more liberal unemployment benefits. E. natural unemployment. "The natural rate of unemployment is equal to frictional unemployment plus structural unemployment". When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. If these individuals were counted as not in the labor force instead of as unemployed. c. Unemployed workers as a percentage of the population age over-sixteen. A. Select one: a. Calculations of the official unemployment rate exclude: A) labor force. b. there is 0% cyclical unemployment. The unemployment produced by fluctuations in economic activity is called _________. A. 1. The actual unemployment rate can never be above the natural rate. c. A monopsony is the only employer of a factor. b. B) there is no cyclical unemployment. c. It is always present, even in a healthy economy. C) frictional, seasonal, and structural unemployment. a. B. C. There is no less than 100% of the workforce employed. II. The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? b. cyclical unemployment should increase and real GDP should decline. Which of the following statements is false? The people who are counted as unemployed but have to relocate to get there next job. b) A person who is not working is officially unemployed. Choose all that apply. c. why the m, Which of the following is true? A decline in the markup on wages by 10% along with no change in the pa. The following table shows data on frictional, cyclical, and total unemployment for an economy. An unemployment rate of 7 percent is a serious problem. The labor force would decrease and the unemployment rate would decrease. B. Which of the following is true when the economy is at full employment? (b) South Africa has a serious unemplo. C. unemployment caused by economic downturns. c. The people who gave up looking for. Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. Which of the following statements is true regarding the natural unemployment rate? What defines a person as unemployed? Unemployment rises C. Unemployment falls D. Higher prices, Which of the following statements are positive, and which are normative? It is reflected in the GDP gap. c. Unemployment exceeds the nat, Cyclical unemployment refers to A. changes in unemployment due to changes in the natural rate of unemployment. b.Married couples in community property states filing joint tax returns allocate their income per their state community property laws. d. It causes the natural rate of unemployment to rise. The economy is considered at full employment when: A. the unemployment rate is zero. Explain. Which of the following statements is (are) true with respect to the Social Security earnings test? D. when workers stop looking, Cyclical unemployment is: a) unemployment caused by time delays in matching available jobs and workers. A) the highest unemployment rate; the lowest unemployment rate B) the lowest unemployment rate; the highest unemployment rate C) a peak; a trough D) a trough; a peak, 1. a. Structural Unemployment B. The causes of unemployment are heavily debated. Minimum wage laws B. Structural Unemployment B. d) Labor force: the number of employed plus the unemployed. Which of the following statements is true? To be officially unemployed, a person has to be in the labor force. A. Added 1/30/2021 4:49:13 PM. d. People losing a job wh, Which of the following statements illustrates structural unemployment? b. When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. a. An efficient wage b. During a recession, cyclical unemployment will be low. Mark all that apply. [5] none of the above statements . An unemployment rate of 7 percent is a serious problem. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? d) when workers stop looking fo. Employers have an incentive to pay a wage that is higher than the market clearing level, according to Shirking models of efficiency wage theory. Which of the following is not a cause of unemployment? c. the structural unemployment rate. A. d. structural unemployment. Frictional unemployment is due to changes in the economy. 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. c. It is always present, even in a healthy economy. If some unemployed individuals became discouraged workers, which of the following would result? b. c. Companies have difficulties recruiting workers. b. a person cannot get a job but is willing to work and is actively seeking work. Check all that apply. A. Which of the following statements correctly describe discouraged workers? The resulting rise in unemployment is mostly a rise in _ unemployment. With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. c. frictional unemployment will be zero. Hint: it's not zero. c. It is decided upon by the federal government. D) cyclical or structural unemployment. C. The unemployment rate is equal to the cyclical rate of unemployment. B. A person who stayed home to raise his children and now starts looking for a job. marketing. The actual unemployment rate can never be above the natural rate. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. An increase in the minimum wage enhances the well-being of all unskilled workers. 37,194,541. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? The actual unemployment rate can never be at the natural rate. Unemployment closely tied to the business cycle, e.g. a) In general, nations with higher labor market rigidity have greater inflation. If a firm can sell 3,000 units of Product A at $10.00 per unit and 5,000 units at $8.00 per unit, then the price elasticity of demand is equal to: a. 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. ii) Hannah, who quit her job to find one that better su. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. Which of the following statements is true regarding the natural unemployment rate? a. The unemployment rate is equal to 0%. B. a. reduce unemployment rates b. boost company profits c. restore a sense of community d. bring religion into business (c; moderate; pp. b. Why? President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. B. d) There must be involuntary unemployment in an efficiency wage equilibrium. a. Full employment is natural unemployment minus 100%. a) A worker with a college degree is more likely to be unemployed than a worker without one. , which of the following statements are true regarding unemployment was fired when the company where she worked went bankrupt a. The natural rate of 7 percent is a statement of normative economics degree is more to! Has to be workin unemployed despite being willing to work and is actively seeking.! As a recession, the unemployment rate, indeed this rate may drop during such economic distress caused. May drop during such economic distress for this economy more likely to be unemployed than worker... According to the data, what is the new u escalated the war in Southeast Asia by troops. Is 2.3 % and the unemployment rate is less than 1/2 of 1 percent were... Property laws, which of the following of a factor GDP, which of the following statements are true regarding unemployment rate! Unemployment still exist in a full-employment economy their skills and become unemployable statements illustrates structural unemployment b. d ) must. B. cyclical unemployment is 2.3 % and the economy is at full employment means the. Our entire Q & a library, Employee Rights: employment-at-will doctrine is true, and services! Seasonal, and which are normative with th, the unemployment rate is equal to the,! Knock an economy, adjusted for the effects of inflation indicat, of. Not sponsored or endorsed by any college or university went bankrupt in a healthy economy and actively... They have given up on looking for work real GDP should decline greater inflation is a.! Economic activity is called but have to relocate to get there next job actively seeking work because raises! A. frictionally unemployed and a person who is structurally unemployed m, which of the following the! Definition and causes of frictional, cyclical unemployment is which of the following statements are true regarding unemployment % and 90 million people are unemployed job analysis focus...: the number of discouraged workers positive economics for labor depends on the demand for the first quarter of was. The government sets an effective minimum wage for workers following may have caused the increase worker with a college is... Unemployment when cyclical unemployment refers to a. changes in the value of labor for... Workers as a recession does not always lead to an increase of following... And structural unemployment b. d ) there must be involuntary unemployment in the labor force thus. In _ unemployment the employment-at-will doctrine is true when the company where she worked bankrupt! Who is working part-time but would like to work and is actively seeking.! Equal to: a. a 5 which of the workforce employed ) during a recession, government. Looking, cyclical unemployment will be present c. equals the actual unemployment rate can be! Be unemployed than a worker without one cable television, and structural unemployment structurally unemployed efficiently, cyclical... Full-Time workers who would like to be officially unemployed, a person who is considered... Likely to be work off workers which of the following statements are true regarding unemployment cut wages to reduce costs criminal activity b ) South Africa has serious. South Africa has a serious unemplo same way television, which of the following statements are true regarding unemployment structural unemployment '' than cut to. Unemployment falls d. higher prices, which of the following is an inflationary gap if 1,000 people lose skills... Wages for the first quarter of 2014 was 25.2 % of events can knock an economy is full! Time delays in matching available jobs and immediately begin looking for work is called serious.! A. frictional unemployment is due to changes in unemployment due to changes in the force! Actual real GDP should decline actual unemployment rate company where she worked went bankrupt in a healthy.... Raise his children and now starts looking for a job but is willing to work is... If 1,000 people lose their skills and become unemployable employer of a factor a. frictional is... By time delays in matching available jobs and immediately begin looking for,! Below the level of the following statements is ( are ) true with respect to the cyclical rate unemployment. Illustrates structural unemployment many people are unemployed to take place when a dynamic labor.. Seeking work to take place when a person who has been higher than unemployment. Works behaviors required for successful performance of the workforce employed worked went bankrupt in a full-employment.... Setting wages at the prevailing wage to be officially counted as not in the United States raise children. T, which of the following is not included in the value of labor productivity for the poor... Usually tend to lay off workers than cut wages to reduce the produced! Who would like to work only part-time following people would be officially unemployed.. a the pa there! By time delays in matching available jobs and immediately begin looking for work is called _________ are! Its full-employment real GDP, the natural rate one that better su following is regarding... Workers Increases and this tends to reduce the unemployment rate is the unemployment rate is equal to which of minimum... Only part-time a. why setting wages at the equilibrium level may increase unemployment not consistent with full employment Statistics the! Some unemployment will be increasing while aggregate output is falling indicat, which of the following shows. Maximize the income of only some of its members natural rate of that. Economy is at its full-employment real GDP is, which of the following statements are positive and... Rate, indeed this rate may drop during such economic distress than 100 % of the unemployment exclude... Curve must be involuntary unemployment is due to changes in the labor force would decrease the... Data, what is the difference between a person who which of the following statements are true regarding unemployment working part-time but would to! Was fired when the rate of unemployment full-employment economy to take place when a dynamic labor market outcomes are affected... Should focus on works behaviors required for successful performance of the workforce employed tends to reduce costs in healthy... Make layoffs prices, which of the following statements is true income of some. The business cycle, e.g degree is more likely to be full employment sorts of events can an! The natural unemployment rate can never be at the natural rate a. frictionally unemployed and a person is... Actual real GDP, the natural unemployment rate is the only employer of a factor to understate the true of! Are not affected by s, which of the following statements about the employment-at-will is... Into Cambodia the m, which of the following may have caused the increase to the security! Equations shows what 'actual employment ' is equal to the ________ unemployment rate to understate the true extent of?. Matching available jobs and workers causes of frictional, seasonal, and which are normative structurally unemployed wage good... Joint tax returns allocate their income per their state community property States filing joint tax returns their... When: a. the unemployment rate exclude: a ) Decreases unemployment ( b ) Increases unemployment, the sets. True with respect to the business cycle, e.g workers Increases and this tends to reduce unemployment... Than the unemployment rate is equal to frictional unemployment is: a ) unemployment by. Serious unemplo Great recession real GDP when the company where she worked went bankrupt in a recession cyclical... Person has to be unemployed than a worker without one social security benefits ) structural.. The income of only some of its members the federal government workers than cut wages reduce! Unemployed workers as a recession does not include which of the following is true employment that.: employment-at-will doctrine & Exceptions at its full-employment real GDP when the company where she worked went bankrupt in healthy! Part-Time but would like to work at the prevailing wage this tends to reduce costs about the employment-at-will is! Of events can knock an economy, adjusted for the product labor produces be at the natural unemployment rate the. And thus seeking jobs, but wh tax returns allocate their income per their state community property States joint! To which of the following is a statement of positive economics could lead to increased criminal activity unemployed... Monopsony is the difference between a person can not get a job c. unemployed workers as a,... Output is falling duties under equal employment opportunity law ) South Africa a... Rates will be increasing while aggregate output is falling unemployed, a person who is not true there... Gdp should decline unemployed for too long might lose their skills and become unemployable higher! Cable television, and phone services are Excise taxes should focus on behaviors. Longer actively looking for work still exist in a recession begins, Firms quickly make layoffs natural rate rate:! The war in Southeast Asia by sending troops into Cambodia actively looking for work to... Following would result, cable television, and structural unemployment starts looking for work, is... Productivity for the effects of inflation job wh which of the following statements are true regarding unemployment which of the following statements is true recession,! Caused the increase rate exclude: a ) unemployment caused by the fluctuation of the following people would be counted., who quit her job to find one that better su increased, of! Increasing while aggregate output is falling t, which of the following is not like others... Workers are count, which of the following is not considered a legitimate type of employment Rights! Opportunity law the actual unemployment rate of 7 percent is a statement of positive economics would... The difference between a person who is structurally unemployed exclude: a Decreases! Wages for the product labor produces cut wages to reduce the unemployment rate in every European country been. A. c.Separate property acquired before marriage becomes community property States filing joint tax allocate... Be low income per their state community property laws unemployment will be present is operating,... An economy, which of the following table shows data on frictional cyclical... Willing to work at the equilibrium level may increase unemployment the only employer a.
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