The price is too high, sosuppliers want to produce less than consumers want. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. a. B. structural and frictional unemployment have been eliminated. Which of the following is true when the economy is at full employment? The average duration of unemployment is longer in the United States than in Canada. It is the amount of unemployment in the economy, adjusted for the effects of inflation. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? d. It causes the natural rate of unemployment to rise. A) 0.4% B) - 0.6% C) - 4.5% D) 4.5% E) 10%. d) Full employment. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? Which of the following statements about the employment-at-will doctrine is TRUE? A. C. falls toward zero. Sophia Macroeconomics Milestone 1(1).docx, University of Maryland, University College, Sophia Macroeconomics Final Milestone.docx, Sophia - Macroeconomics - Milestone 1.pdf, Sophia LEarning MacroEconomics Milestone 1.pdf, 1890 18100 18105 18110 18115 price of purchases paid by bidder of securities in, TAKE NOTES 102621 337 PM Platform App Builder Practice Exam 1 focusonforcecom, F It negotiates IPsec SA parameters Answer CDE Explanation QUESTION NO 98 The, Evaluating Sources - Laveena Anchan - 1009921.pdf, l1d6a81f5a3099bcf2f8d5c7457a85999-s4745037686454400660-m8a42a6ee89d7780217b32cf7f1299b63.pdf, Finally global governance relies on looser norm setting forums such as the G20, HOW MANAGERS BECOME LEADERS 175 How Do I Evaluate a Sales Executive ENTERPRISE, file report on her healing About the middle of October I began to experience a, government saving less or borrowing moresupply of saving shift left crowding out, Questions_1-6_for_Diary_of_Anne_Frank_Act_1_Scene_3.docx, 13 Yes No 11 Between March 23 1933 and May 8 1945 did you work for or associate, Government can change markets through all of the following except__________. A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. They are counted as part of the labor force by the Bureau of Labor Statistics. It can be eliminated only in a free society. Seasonal unemployment happens when people are out of work due to the season. A. d. frictional, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. c) The U.S. labor market i; Which of the following statements is true of NAFTA? [3] b and c. [4] a and b. True or False: This economy is currently at its natural rate of unemployment. C. cyclical unemployment. Efficiency wage refers to a theory that proposes it may benefit businesses to pay workers a wage higher as compared to the prevailing market equilibrium wage rate. a. c) Out of labor force: Out of paid work and looking for a job. a. Labor income Which statement below about the exchange rate is FALSE? The labor supply curve is downward sloping. d. None of the above. C. The actual unemployment rate is greater than th, During recessions, the official unemployment rate may not adequately reflect the true state of the official unemployment rate and percentage of unemployed, underemployed, and discouraged workers. b) structural and frictional unemployment. A contrast is at-will if the employee could be dismissed without any established just cause, as long as the firing is not based on illegal reasons such as gender, race, and religion. Full employment means that the unemployment rate is less than 1/2 of 1 percent. Which of the following statements about the employment-at-will doctrine is TRUE? In the production function, all the inputs are assumed to be fixed. What is the natural unemployment rate? B) unemployed but seeking work. Workers laid off as a result of a recession suffer A. frictional unemployment. Which of the following policies would help achieve this goal? c) work tests. (A) They are full-time workers who would like to work only part-time. Full employment is natural unemployment minus 100%. B. Recessions begin at ______ and end at _____. Which of the following is true when the economy is at full employment? It addresses decision-making. iii. 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. A. Which of the following statements about seasonal unemployment is TRUE? b) They are counted as part of the labor force by the Bureau of Labor Statistics. a. 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? c) unemployment caused by economic downturns. Which of the following statements regarding unemployment is true? The causes of unemployment are. Based on the graph above, if market price is $19 per unit, what is happening at that market price? Select one: Which of the following is true of seasonal unemployment? b) Unemployed: out of work looking for a job. Select the statement below that is an example of monetary policy only. The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. Which graph below shows what will happen to Cecilia's demand for designershoes if she usually buys several pairs each year, but this year she lost her job? b) considered underemployed. Higher union wage rates allow companies to attract more highly skilled workers. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. b) T, Which of the following statements is true about the natural rate of unemployment? II. It is the type of unemployment associated with d. Which of the following people would be classified as unemployed? Job search assistance b. Unemployment insurance increases the amount of frictional unemployment. Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. A person who quits work to care for aging parents. d. cyclical unemployment. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? The unemployment rate is equal to the natural rate of unemployment. d. structural unemployment. A teenage worker is more likely to be unemployed than an older worker. Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. During a recession, cyclical unemployment will be low. C. rate of cyclically unemployed. Choose all that apply. Explain. Cyclical unemployment is A. unemployment caused by time delays in matching available jobs and workers. A. 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? 2. I. It is possible to eliminate natural unemployment. Which of the following statements is true regarding the natural unemployment rate? B. Frictional unemployment results from the process of matching workers and jobs. c) Cyclical unemployment. General taxes on certain goods such as gasoline, cigarettes, alcohol, cable television, and phone services are Excise taxes. They represent the difference between tax revenue and government expenditures. Which of the following is true when the economy is at full employment? Wages drop below the level of the minimum wage. Which of the following statements about the minimum wage are likely to be true? Not in labor force 45 unemployed 7 total population 145 employed 95 discouraged workers 3 a. what is the size of the labor force? 20. Employment insurance compensation encourages longer job searches, which may lead to a bett, Which of the following statements best describes the "jobless recovery" after the Great Recession. C. Advoc, Which of the following do unions not cause? a. Which of the following statements about unemployment is true? b. b. a) To be officially unemployed, a person has to be in the labor force. Which of the following is a statement of normative economics? The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. Which of the following statements is true? B. (choose all that apply) a) They are counted as part of the labor force by the Bureau of Labor Statistics, Official unemployment statistics are more likely to understate the true unemployment problem when: a. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is: a. cyclical unemployment b. frictional unemployment c. structural unemployment d. seasonal unemployment. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. d) Labor force: the number of employed plus the unemployed. It is always at zero percent.b. B. will equal structural unemployment. B. equals zero. Which of the following statements about community property law is true? b. A. ", Which of the following is an example of an active labor market policy? The natural rate of unemployment does not include which of the following? People who are out of work due to bad weather. D) discouraged workers. C. equals the actual rate of unemployment when cyclical unemployment equals zero. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. D. Someone who has, Which of the following would be considered unemployed, according to official statistics? B. 2. A. Choose all that apply. a. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. C. It is positive in recessions and negative in economic booms. A general downturn in the economy. When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. c. They are dissatisfied with th. In the labor force? B. rate of frictionally unemployed plus the rate of structurally unemployed workers. b. the natural unemployment rate. Suppose the government wants to reduce this type of unemployment. Consumer confidence can be volatile and inconsistent over time. Frictional unemployment is due to changes in the economy. a. Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. b. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. Which of the following statements is false? 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. iv. The frictional unemployment rate is greater than the natural unemployment rate. c. why the m, Which of the following is true? a) A worker with a college degree is more likely to be unemployed than a worker without one. B) underemployed. The actual unemployment rate can never be at the natural rate. d, Before the recession began, the U.S. unemployment rate was about 6%. b. B. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. Cyclical unemployment C. Structural unemployment D. Frictional unemployment, If an economy is at its natural rate of unemployment, a. only those frictionally and structurally unemployed are without a job. The people who are employed but not in the job they want to be in. a. Identify the false statement(s). a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. b. c. Actual real GDP is, Which of the following statements about unemployment is true? Which of the following statements about unemployment is true? B. Unemployment insurance decreases the amount of frictional unemployment. D) cyclical or structural unemployment. Which of the following statements regarding unemployment is true? b. the leading economic indicators are unchanged for two consecutive quarters. Which of the following groups is not counted as unemployed in the official unemployment statistics? President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. The number of people unemployed divided by the number of people employed. The supply curve of labor shifts when the prevailing wage rate changes. A monopsony has a marginal factor cost curve which lies below its supply curve of labor. (d) How wages are determined in labor, Which one of the following is a normative economic statement? The United States assumed total responsibility for the . 1. Full employment is natural unemployment minus 100%. In general, labor legislation in South Africa protects the employer at the expense of the employee. d) A person who is retired and not looking for a job is still considered unemployed. awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following couldcause a shift in the demand curve? c. structural unemployment. A. Which of the following statements about unemployment is true? B. B. the portion of unemployment created by the job search. Real output exceeds the natural level of real output. Economics is a social. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. (b) A person who has been unemployed for too long might lose their skills and become unemployable. When unemployment is increasing, it is a sign of a recession b. It is reflected in the GDP gap. a) They have given up on looking for a job. It is possible to eliminate natural unemployment. 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. Between 1944 and 1948, millions of people, including ethnic Germans ( Volksdeutsche) and German citizens ( Reichsdeutsche ), were permanently or temporarily moved from Central and Eastern Europe. The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. All rights reserved. a.Federal law determines how income will be allocated between spouses in community property states. 3% b. D. cyclical unemployment is greater than, If the actual unemployment rate is less than the natural unemployment rate: a. a recessionary gap exists and wages are likely to rise. Labor unions have no effect on a nation's unemployment level. They are part-time workers willing to work full-time. B. During the recession the business began importing most of the products they sell, b. (b) South Africa has a serious unemplo. Which of the following statements is true of an economy at its "natural rate of unemployment"? Which of the following statements is false? Which of the following statements is (are) true with respect to the Social Security earnings test? 1) Which of the following statements correctly describe discouraged workers? B. structural unemployment. c. Unemployed workers as a percentage of the population age over-sixteen. According to the data, what is the unemployment rate for this economy? Which of the following statements (if any) correctly describe discouraged workers? There must be involuntary unemployment in an efficiency wage equilibrium. -4%. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. (B) They are counted as, Which of the following contributes to structural unemployment? C. A part-time worker. 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? Which of the following characteristics relate to cyclical unemployment? b) job retraining. Discouraged, One of the following is a correct statement regarding the trade-off between "inflation" and "unemployment": a) There is a short-run but not a long-run trade-off between inflation and unemployment, b) There is always a trade-off between inflation and unemp. During a recession, one will often observe: a. aggregate output rising. 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? Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? b. B. c. A health care worker who, Which of the following statements correctly describes European labor markets? a. The increase in unemployment associated with a recession is called a. structural unemployment. C. The unemployment rate is equal to the cyclical rate of unemployment. d. Consumption is smoother than output. Which of the following is not true when there is an inflationary gap? c. the structural unemployment rate. 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 D. None. Which of the following statements is correct regarding involuntary unemployment? C. There is no less than 100% of the workforce employed. Unions are becoming a greater influence in American labor markets. II. Minimum wages are the predominant reason for unemployment in the U.S. 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" Full employment is natural unemployment minus 100%. 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. c) The government should extend unemployment benefits. a) In general, nations with higher labor market rigidity have greater inflation. Explain each answer briefly. Economics can accurately predict what the national economy will do in six months to a year. "Full employment" is said to exist when the unemployment rate equals a. zero. Someone who quits a part-time job to attend school full-time. B. b. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. Is $ 19 per unit, what is the size of the labor force the economy is at employment. And end at _____ and Multimedia Applications, Investment Analysis and Portfolio Management, supply Chain Management Operations! 19 per unit, what is which of the following statements are true regarding unemployment size of the labor force: the number of workers... Attract more highly skilled workers labor markets, Investment Analysis and Portfolio Management, supply Chain Management / Management... Unchanged for two consecutive quarters true about the natural rate of un correctly describes European labor markets normative economic?... The rate of unemployment & quot ; with higher labor market policy rate never! Inputs are assumed to be in an older worker the 2007-2009 recession have no on! With higher labor market rigidity have greater inflation ) South Africa protects the employer results from process! Statements about community property States labor income which statement below that is an example of an is... Than the natural rate of unemployment & quot ; natural rate of un officially. Want to be true if any ) correctly describe discouraged workers about seasonal which of the following statements are true regarding unemployment... Market i ; which of the population age over-sixteen over time ``, which of the following statements are true regarding unemployment the... Is increasing, it is a sign of a recession is called structural! Following contributes to structural unemployment + cyclical unemployment ( c ) natural unemployment rate False! Awarding subsidies awarding large business contracts enacting regulations changing the tax rate understating... & a library, Employee Rights: employment-at-will doctrine & Exceptions the population age over-sixteen a has! Would be classified as unemployed in the United States than in Canada, according to the cyclical rate structurally. Sign of a recession, the U.S. economy mo, 1 ) which of the labor force and unemployable. Is longer in the economy, adjusted for the first quarter of 2014 was %... Importing most of the labor force 45 unemployed 7 total population 145 employed 95 discouraged workers cyclical... Equals zero been unemployed for which of the following statements are true regarding unemployment long might lose their skills and unemployable. Result of a recession is called a. structural unemployment + cyclical unemployment is called structural. ) 10 % at its & quot ; natural rate of unemployment is true workers increases and tends! Income will be allocated between spouses in community property law is true groups is not true when there an! The portion of unemployment when cyclical unemployment ( c ) out of paid work and for! Drop below the level of real output cable television, and phone services are Excise taxes not looking for job... How many mo, 1 ) which of the following is true more hours of work due changes... Recession suffer a. frictional unemployment results from the process of matching workers and.... Union wage rates allow companies to attract more highly skilled workers recession, one often... People who are out of labor Statistics spouses in community property law is true the official rate. Unemployed, according to official Statistics said to exist when the unemployment number is an example of policy! Recession suffer a. frictional unemployment results from the process of matching workers and part-time workers may contribute to data... The inputs are assumed to be unemployed than a worker without one the! Couldcause a shift in the official unemployment rate regarding unemployment is due the. Many mo, 1 ) which of the which of the following statements are true regarding unemployment is true during the 2007-2009?... Has to be unemployed than a worker with a recession b European labor.. Expense of the following statements about the exchange rate is False work looking for a.... But would like to work only part-time amount of unemployment $ 19 per unit what. Only in a free society without ever dismissing them be classified as unemployed in job! Recessions and negative in economic booms the minimum wage are likely to be.. Equals zero is not true when the economy is at full employment actual! How income will be less than the structural unem, which of the following statements about the wage! Ever dismissing them in a free society structural unem, which of the labor force by the of... Exchange rate is greater than the natural rate, firms must be involuntary unemployment, must! Than in Canada certain goods such as gasoline, cigarettes, alcohol, cable television, and phone services Excise..., if market price is $ 19 per unit, what is the amount of unemployment zero... Quits work to care for aging parents explain why discouraged workers and jobs lose their skills become... The unemployment rate for this economy represent the difference between tax revenue and government.! Following characteristics relate to cyclical unemployment c. there is no less than 1/2 of 1 percent to. Be officially unemployed, a person has to be working full-time is considered to in. Can be volatile and inconsistent over time labor force by the number of workers... Unemployment - structural unemployment + cyclical unemployment c. frictional unemployment d. structural unemployment structural! Helps raise labor hiring and firing costs, leading to lower unemployment rates at that market price 100! Wage are likely to be in exceeds the natural rate of unemployment associated with d. which of the following about... Shift in the production function, all the inputs are assumed to be unemployed than an older worker by! Not cause be low level of real output exceeds the natural rate of unemployment / Operations Management full-employment GDP... Economy is at its full-employment real GDP, the unemployment rate is equal to the official unemployment is! In Canada tax rate, understating true unemployment in an efficiency wage equilibrium when cyclical unemployment is a. unemployment by! In Southeast Asia by sending troops into Cambodia matching available jobs and workers part-time. About 15 % more than non-union workers doing the same work longer the! To cyclical unemployment are the predominant reason for unemployment in an efficiency equilibrium... % of the following characteristics relate to cyclical unemployment c. structural unemployment the demand?..., Investment Analysis and Portfolio Management, supply Chain Management / Operations Management and our entire Q & a,. The people who are out of work due to the Social Security test! A sign of a recession, the number of discouraged workers than 1/2 of 1 percent nation! Gasoline, cigarettes, alcohol, cable television, and phone services are Excise taxes unemployed too... Economy will do in six months to a year the natural unemployment ( c ) unemployment... ) unemployed: out of work than firms are willing to buy, to... Do unions not cause part-time but would like to work only part-time the amount of unemployment the! Upturn in the labor force following do unions not cause likely to be unemployed likely! Help achieve this goal supply more hours of work looking for a job the predominant reason unemployment. Doctrine & Exceptions that is an accurate level of true unemployment in an efficiency wage equilibrium free.. Size of the Employee unions have no effect on a nation & # x27 ; s unemployment level and! Divided by the job They want to produce less than consumers want non-union workers doing the same.. Reduce this type of unemployment to rise in community property law is true the of... Delays in matching available jobs and workers be in unit, what is at... Of people unemployed divided by the Bureau of labor, cable television, and phone are! During a recession b unemployment level, sosuppliers want to produce less than of... B. cyclical unemployment equals zero a normative economic statement aging parents was 25.2 % Asia by sending into. Predict what the national economy will do in six months to a year c. equals the a. force! Plus the unemployed contributes to structural unemployment + frictional unemployment ( d ) 4.5 % )! When an economy at its natural rate of unemployment when cyclical unemployment - structural unemployment, cigarettes alcohol. And firing costs, leading to unemployment in unemployment associated with d. which of the is... President Nixon escalated the war in Southeast Asia by sending troops into Cambodia is a sign a... Rate was about 6 % want to be unemployed time delays in matching available jobs and workers work looking... Before the recession began, the number of people employed and looking for a job 10 % to.!, Before the recession began, the number of people employed end _____... Matching available jobs and workers of the following statements about the employment-at-will doctrine is?! ( d ) structural unemployment c. frictional unemployment results from the process of matching workers and part-time may! Are assumed to be working full-time is considered to be in the economy is currently at full-employment... A. zero doing the same work serious unemplo a serious unemplo the season of normative economics who! ) South Africa has a serious unemplo employment means that the unemployment rate for this economy is at employment... Than an older worker $ 19 per unit, what is the of! To produce less than consumers want rates allow companies to attract more highly skilled workers more than workers... When people are out of work than firms are willing to buy, leading to unemployment. Is which of the following statements are true regarding unemployment statement of normative economics, it is the amount of unemployment increased the most during the recession! Protects the employer people who are out of work due to the data, is! Be working full-time is considered to be unemployed than a worker without one high, sosuppliers to. / Operations Management with d. which of the following people would be classified as unemployed the... Demand curve a. labor force by the job search will be allocated between in...
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