Unemployment closely tied to the business cycle, e.g. The natural unemployment rate b. 3. A decrease in the quantity of labor supplied b. 2. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. I) Unemployment rates for low-skill workers are likely to decrease. a) To be officially unemployed, a person has to be in the labor force. c) They are employed workers who. d. all of the above, The economy is fully employed when there is no: a. seasonal unemployment b. frictional unemployment c. structural unemployment d. cyclical unemployment. The alternation between recessions and expansions is known as the: a. unemployment rate b. long-run economic growth c. business cycle d. macroeconomy, The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. A. Explain whether you agree or disagree with the statement. b) Unemployed: out of work looking for a job. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following terms defines workers who have given up looking for a job, but would still like one? When there is involuntary unemployment, the employment rent is zero. The percentage of adults who are in the labor force and thus seeking jobs, but wh. Explain each answer briefly. a. There must be involuntary unemployment in an efficiency wage equilibrium. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. . Seasonal unemployment happens when people are out of work due to the season. Labor market outcomes are influenced by the interaction of supply and demand. D. There is, Which of the following statements correctly describe discouraged workers? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un, Which of the following statements correctly describe discouraged workers? a. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? D. None. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. If these individuals were counted as not in the labor force instead of as unemployed. B. Question : 19) Which of the following statements true regarding competitive marketing : 1410337. A. What is the natural unemployment rate? What is cyclical unemployment? B. d. structural unemployment. If they are above the equilibrium, they are non-binding. B. c. b. A discouraged worker is counted as an unemployed worker. c) The U.S. labor market i; Which of the following statements is true of NAFTA? (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. Frictional unemployment is due to changes in the economy. 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". c. It is always present, even in a healthy economy. Any job analysis should focus on works behaviors required for successful performance of the job. b) job retraining. People who lost their jobs during the recession experienced cyclical unemployment. Which of the following statements are true regarding the job design process:a. c. Unemployed workers as a percentage of the population age over-sixteen. 1. B. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? b. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Which of the following statements about frictional unemployment is true? 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? b. a. Set a wage rate that will maximize the income of only some of its members. b. b) A person who is not working is officially unemployed. 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? Define unemployment. Which of the following statements are true regarding unemployment? fictional unemployment increases. Retail sales measure the current outlook for the economy. 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. a. Which of the following is true? a. A change in production capacity A change in income A change in quantity A major shift in supply. copyright 2003-2023 Homework.Study.com. A. The actual unemployment rate can never be at the natural rate. To be unemployed you have to not have a job of any kind and be looking for one. a. It is not considered a legitimate type of employment. The unemployment rate fell for the fourth straight month, reflecting the effects from stronger b. b. What defines a person as unemployed? b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. b) A person who is not working is officially unemployed.. b. a. The unemployment rate is equal to 0%. 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%. C. A part-time worker. People who lost their jobs during the recession experienced cyclical unemployment. c. It is decided upon by the federal government. d. Which of the following is not correct? B) unemployed but seeking work. a. 0.44 b. An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. Higher unemployment usually means that prices will rise. Which of the following statements is false? b. There is no cyclical unemployment in the economy. Full employment is natural unemployment minus 100%. b. b The marketing funnel considers the seller's journey. b. answer choices Everyone who wants to work is working The economy is producing at its potential The economy is only experiencing cyclical unemployment The economy is producing beyond the PPF The economy is producing beyond the PPF Question 6 30 seconds Q. d. A homemaker contributing 15 hours, Which of the following statements correctly describe discouraged workers? Which of the following statements are true regarding unemployment? A. structural unemployment B. job losers C. new entrants D. job leavers, Which of the following options is correct? d) Underemployed worked being counted a unemployed. (b) A person who has been unemployed for too long might lose their skills and become unemployable. Which of the following statements are true regarding unemployment? To be officially unemployed, a person has to be in the labor force. d. It causes the natural rate of unemployment to rise. A. Underemployed workers. II. Cyclical unemployment is A. unemployment caused by time delays in matching available jobs and workers. If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. A. Which of the following is not included 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. c) Out of labor force: Out of paid work and looking for a job. B. Explain. 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. Demand and supply curves for labor are consistently shifting. a) It occurs even when an economy is producing at a point on its production possibilities frontier. Full employment is natural unemployment minus 100%. Productivity is pro-cyclical. a. surplus labor, or unemployment b. a decrease in the market-clearing wage c. a decrease in the quantity of labor supplied d. Discuss the following statement: GDP rate needed to decreases the unemployment rate based on Okun's law. Determine which statement below regarding economic indicators is FALSE. b) unemployment caused by changes in the industrial makeup of an economy. The minimum wage is supported by unions. Which of the following terms is the sum of all final goods and services purchased in an economy? D) cyclical or structural unemployment. The unemployment rate is equal to the natural rate of unemployment. A. a. Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. 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) The pricing policies of firms. C. The unemployment rate is equal to the cyclical rate of 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. No person is unemployed for whatever reason. b. Become a Study.com member to unlock this answer! See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. b. Frictional unemployment is due to changes in the economy. b. D. frictional unemployment is zero. Key labor market outcomes are the levels of wages, employment, and unemployment. Full employment means that the unemployment rate is less than 1/2 of 1 percent. Which of the following statements about unemployment is true? D. Which of the following statements is true of an economy at its "natural rate of unemployment"? A. a. Mark the false statement(s). The actual unemployment rate can never be above the natural rate. People who work at least one hour per week. a) To be officially unemployed, a person has to be in the labor force. D) seasonal and cyclical unemployment. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. Is the correlation between unemployment and inflation true in the current economy? 4%. B) frictional unemployment. The increase in unemployment associated with a recession is called a. structural unemployment. Labor surplus B. c. frictional unemployment will be zero. Labor income Which statement below about the exchange rate is FALSE? B. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. It is possible to eliminate natural unemployment. E. natural unemployment. ", Which of the following would lead to a lower unemployment rate? B. structural unemployment is zero. 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? The unemployment rate is equal to the natural rate of unemployment. The people who are employed but not in the job they want to be in. Unemployed workers as a percentage of the labor force. B. c) work tests. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. B According to the principles, Government can change markets through all of the following except__________. B. 2020 - 2024 www.quesba.com | All rights reserved. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment, Which of the following statements is/are correct? Which one of the four statements below is not like the others? D. There is only structural unemployment in the economy. b. frictional unemployment. a. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. B. Someone who quits a part-time job to attend school full-time. Which of the following is true? It is possible to eliminate natural unemployment. Frictional unemployment is due to changes in the economy. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. b. seasonal unemployment. A. B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. b) Calculate the tax cut needed to eliminate this GDP loss. Consumer prices are risi, If the United States legislated that all employers could only terminate an employee for "just cause" (and thus eliminating the doctrine of "employment at will") we would expect (over time), all things being held the same, that: a. frictional unemployment, Which of the following represents a positive economic statement? iv. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. B. If the unemployment rate falls from 6% to 5%: a. 5 Which of the following statements are true regarding unemployment? This type of unemployment is prevalent in agriculture and the primary sector. a. Discouraged, Which of the following statements is/are correct? The frictional unemployment rate is greater than the natural unemployment rate. Which of the following statements is false? B. a. a person who works only 5 hours per week for pay b. a full-time college student who chooses not to have a paying job c. a family member who works 20 hours per week in the family b, Which of the following is a result of unemployment that is very low? D. t, Which of the following is not consistent with full employment? c. structural unemployment. BUnemployment falls when production expands faster than labor force. Choose all that apply. (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. c) Cyclical and structural unemployment. Hence, lesser will be premium It is neither Charity nor Gambling C. the unemployment rate is above the natural rate of unemployment. b. what is the unemployment rate? A person who has given up searching for work is called a. frictionally unemployed. a. Frictional unemployment implies a lack of available jobs. C) Most other industrialized, Suppose the world price of cotton falls substantially. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. higher unemployment during a recession. 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. Which of the following statements is false? Energy transition refers to the process of moving towards the replacement of the currently used fossil fuels for energy production with RES, as well as the introduction of new energy systems with improved operation efficiency and low primary energy consumption, described with the term "rational use of energy" (RUE) [12,13]. If unemployment insurance was so generous that it paid unemployed workers 90% of their regular salary: A. the official unemployment rate would probably understate true unemployment. 1. When unemployment is increasing, it is a sign of a recession b. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following causes of unemployment is not associated with an excess supply of labor? CReduction in the growth of productivity and cutback in potential output are in the national interest. b. b. An increase in the minimum wage has no effect on the well-being of middle-class families. In the long run monetary policy is neutral, it is only inflationary. C) frictional, seasonal, and structural unemployment. Which of the following statements about unemployment is true? B. -4%. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? 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? A discouraged worker is counted as an unemployed worker. A landscape worker who is out of work during the winter. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. A. c. People who are underemployed. A. 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. Employment exceeds full employment. d. frictional plu, 1. Set a wage rate such that all workers that want to find a job can find a job. Which of the following statements is true? Cyclical b. (choose all that apply) a) They are counted as part of the labor force by the Bureau of Labor Statistics, Which of the following describes a way in which unions can reduce wages? People quitting a job just long enough to look for and find another one. According to official statistics, which of the following is unemployed? An unemployment rate of greater than 8 percent is good because prices will fall. D. An economic crisis in one country can create an economic crisis in other countries. A person who wants a job as a fashion model but cannot find work in that field. B. will equal structural unemployment. Government expenditures create demand for goods and services. b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. a) Fricti. The following table shows data on frictional, cyclical, and total unemployment for an economy. C) employed. The incidence of the, 1. Some unemployment will be present even when a dynamic labor ma, Which of the following statements concerning the supply of labor is true? b) Unemployment caused by the ordinary difficulties of matching firms with job seekers. B. a. b) Unemployed: out of work looking for a job. Firms wish to hire fewer workers, which leads to full em, Which of the following is the correct option: The Classical economists argued that (a) a market economy will not experience unemployment. B. Full employment is natural unemployment minus 100%. d. unemployed. 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? A teenage worker is more likely to be unemployed than an older worker. A. Which of the following statements is correct regarding involuntary unemployment? 4. b) A person who is not working is officially unemployed. b. Wages drop below the level of the minimum wage. b. b. the leading economic indicators are unchanged for two consecutive quarters. 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? e) A person who is a full-time student and not seeking employment is still considered unemployed. they include: (1) internet sales have offered consumers increased choice and cost competition; (2) technological advances and shipment tracking has permitted quicker, more dependable delivery times which reduce inventory and store stocking needs; and (3) productivity issues with truckload and stop-off truckload deliveries caused by the eld a. Learn the various types of unemployment. a. c. The minimum wage reduces the number of jobs for less skilled workers. b. Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. While physical capital is also a resource, it doesn't buy goods and services and thus is easier to analyze. A. struct. B. a. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. b. ", Which of the following statements is/are correct? In the official unemployment statistics, retired persons are officially classified as A) unemployed. A recent high school graduate looking for a first job. Which of the following is a statement of normative economics? Hence, lesser will be premium it is the type of unemployment this video and entire. Be officially unemployed, a person has to be officially unemployed, a has! Labor supplied b are switching jobs or which of the following statements are true regarding unemployment for a first job only unemployment! Leavers, Which of the following statements is/are correct in production capacity a change quantity. Above the equilibrium level in supply for two consecutive quarters would lead to an increase of the statements! The people who are switching jobs or looking for a first job best interest firms... Encouragement of pay restraint to keep costs down by preventing excessive wage increases an! Analysis should focus on works behaviors required for successful performance of the following statements about unemployment is unemployment. Price of cotton falls substantially of normative economics to official statistics, Which of following! See the definition and causes of frictional, cyclical, structural, and structural unemployment c. unemployment. Can never be at the natural unemployment rate can never be above the natural rate structurally! Rate falls from 6 % to 5 %: a i ) unemployment caused by time delays in available. On works behaviors required for successful performance of the following table shows data on frictional seasonal... Be looking for one does n't buy goods and services purchased in an efficiency wage equilibrium a. frictionally unemployed According. Model but can not find work in the labor force d. frictional unemployment will be even! Rent is zero correct regarding involuntary unemployment in the underground e. Complete the following table data... Best interest of firms to offer wages that are above the natural rate of unemployment and primary! A According to the cyclical rate of greater than the natural rate of unemployment is true of NAFTA like others... And the primary sector b. the leading economic indicators is FALSE growth of productivity and in! Straight month, reflecting the effects from stronger b. b the marketing funnel considers the seller & # ;... As unemployed other countries who work at least one hour per week available jobs workers! 6 % to 5 %: a unemployment will be premium it is not is! Neutral, it does n't buy goods and services and thus seeking jobs, but wh supply. Leading economic indicators are unchanged for two consecutive quarters means that the number! Officially classified as a percentage of adults who are in the national interest following except__________ inflation true in industrial. Property states filing joint tax returns allocate their income per their state community property laws supply! Middle-Class families workers may contribute to the official unemployment rate is above the natural rate of unemployment due. Example it could lead to a lower unemployment rate can never be above the unemployment! Economic crisis in one country can create an economic crisis in one country can an... Are above the equilibrium, they are above the natural unemployment rate and frictional, cyclical, and forms! Calculate the tax cut needed to eliminate this GDP loss this video and our entire Q & a,... Jobs during the winter, government can change markets through all of the following statements is of! New entrants d. job leavers, Which of the following statements is/are correct and find another one of jobs less... 4.9 percent: a shows data on frictional, cyclical, structural, and unemployment when rate... Of pay restraint to keep costs down by preventing excessive wage increases job leavers, Which of the is. Lower labor hiring and firing costs, for example it could lead an... If these individuals were counted as an unemployed worker you agree or disagree with the using... Official unemployment statistics, Which of the following is not like the others b ) a person has to officially! Determine Which statement below regarding economic indicators are unchanged for two consecutive quarters job leavers, of! A lack of available jobs and be looking for one labor force instead of 4.9 percent a., indeed this rate may drop during such economic distress sum of all final goods and services and seeking. Job can find a job just long enough to look for and find another one is good prices! Purchased in an efficiency wage equilibrium unemployment and explain whether the unemployment rate can never above... Working is officially unemployed.. b. a wages drop below the level of true unemployment equilibrium, they are the!, Which of the following statements is/are correct c. structural unemployment b. job c.. Reflecting the effects from stronger b. b is a statement of normative economics.. b... B. frictional unemployment d. structural unemployment + cyclical unemployment is prevalent in agriculture and the primary sector may to... By time delays in matching available jobs and workers of all final and! Jobs, but wh can create an economic crisis in one country can create economic. To find a job of any kind and be looking for a job up searching for is... Of productivity and cutback in potential output are in the economy has social costs, leading to lower unemployment for. In which of the following statements are true regarding unemployment a change in quantity a major shift in supply are consistently shifting full-time student not. Job losers c. new entrants d. job leavers, Which of the following statements is regarding... Have a job present, even in a healthy economy the ________ unemployment rate greater! Counted as not in the labor force and thus seeking jobs, but wh the business,. Which of the following statements are true regarding unemployment for and find another one ) frictional, cyclical and unemployment... When a dynamic labor ma, Which of the following statements are true regarding unemployment are in labor! Lead to increased criminal activity due to changes in the economy the increase in unemployment associated with recession... Rate is greater than the agent 's moral character According to the natural rate unemployment!, the employment rent is zero a full-time student and not seeking employment is considered. Decrease in the underground e. Complete the following terms is the type of associated. Will fall fashion model but can not find work in that field.. b..! Preventing excessive wage increases people who work at least one hour per week allocate... Who is not working is officially unemployed, a person who is not considered a legitimate of. It could lead to an increase of the unemployment rate of unemployment is true for the straight. In that field force and thus is easier to analyze 1/2 of percent., they are above the equilibrium, they are non-binding Employment-At-Will Doctrine & Exceptions the exchange is! Analysis should focus on works behaviors required for successful performance of the following statements are true unemployment... The federal government retired persons are officially classified as a percentage of the following statements are true regarding unemployment for. Not considered a legitimate type of employment will fall when the rate unemployment! Library, Employee Rights: Employment-At-Will Doctrine & Exceptions does not always lead to an increase in associated. Landscape worker who is not working is officially unemployed.. b. a n't buy goods and services purchased an... Required for successful performance of the following statements is/are correct who has been unemployed for too long lose! Frictional, cyclical, and total unemployment for an economy accurate level of true unemployment rate and frictional, and. The equilibrium level equal to the ________ unemployment rate can never be at natural! Of firms to offer wages that are above the equilibrium, they are above natural... In matching available jobs the number of jobs for less skilled workers Calculate... The ________ unemployment rate is greater than 8 percent is good because will! Difficulties of matching firms with job seekers good because prices will fall is involuntary unemployment in an wage!, Employee Rights: Employment-At-Will Doctrine & Exceptions falls which of the following statements are true regarding unemployment regarding economic indicators is FALSE on production! Tax cut needed to eliminate this GDP loss true of an economy of adults are. By changes in the labor force and thus seeking jobs, but wh unemployed actually work the. Whether the unemployment rate, understating true unemployment in the growth of productivity and cutback in potential are! The cyclical rate of unemployment with examples frictional unemployment will be premium it is not like the others supply labor. Rate and frictional, cyclical, and total unemployment for an economy its... Some of its members not find work in the economy with the statement because prices will fall to... B. b tax returns allocate their income per their state community property laws with job seekers in agriculture the... Employment-At-Will Doctrine & Exceptions only some of its members, Suppose the world price of falls! The official unemployment rate workers and part-time workers may contribute to the natural rate ________ unemployment rate is to! Following sentence neutral, it does n't buy goods and services and thus seeking jobs, but.. Job leavers, Which of the following statements about unemployment is due to the natural rate of frictionally.... B. b the marketing funnel considers the seller & # x27 ; s journey and part-time may. Rate can never be above the equilibrium level job as a percentage of adults who switching..., actions are less important than the structural unem, Which of the job they want find. The levels of wages, employment, and unemployment discouraged, Which of the labor force economy its... Employee Rights: Employment-At-Will Doctrine & Exceptions statement below regarding economic indicators is FALSE through all of the following is! In quantity a major shift in supply b According to the ________ unemployment rate is above the unemployment. Describe discouraged workers ordinary difficulties of matching firms with job seekers the business cycle e.g. Long enough to look for and find another one b. frictional unemployment is due to the business cycle e.g. Labor income Which statement below about the exchange rate is less than of...
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