(a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. A teenage worker is more likely to be unemployed than an older worker. Identify the false statement(s). During a recession, cyclical unemployment will be low. 2. Frictional unemployment is 3%, cyclical unemployment is 2%, and structural unemployment is 4%. Select all that apply. Structural Unemployment B. D. An economic crisis in one country can create an economic crisis in other countries. According to official statistics, which of the following is unemployed? Higher unemployment usually means that prices will rise. Which of the following is true? Which of the following statements regarding Unemployment Insurance is true? B. Interviewing a wide variety of candidates to ensure a diverse workforce b. There must be involuntary unemployment in an efficiency wage equilibrium. Job search assistance b. a) Unemployment caused by workers' resistance to wage cuts during economic slowdowns. C. the unemployment rate is above the natural rate of unemployment. c. The people who gave up looking for. 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? d) Underemployed worked being counted a unemployed. a. II. b. Select all that apply. D. There is, The government sets an effective minimum wage for workers. a. The unemployment rate in 2009 was higher than it was in 2006. b. d. zero unemployment rates. Which of the following statements (if any) correctly describe discouraged workers? 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? Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. 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? An unemployment rate of 7 percent is a serious problem. It is difficult to predict because it involves all kinds of workers. The percentage of adults who are in the labor force and thus seeking jobs, but wh. A. Unemployment/Full Employment - Frictional / Structural / Cyclical. b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. 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? A. The natural unemployment rate b. There is only cyclical unemployment in the economy. A. It is always at zero percent.b. (Check all that apply.) a. It is reflected in the GDP gap. A. Underemployed workers. Learn the various types of unemployment. Which of the following statements are true regarding unemployment? If an unemployment report stated that the economy created 50,000 new jobs, and the unemployment rate has increased by 0.2 percent, is there an error in the report? People who lost their jobs during the recession experienced cyclical unemployment. 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. People who lost their jobs during the recession experienced cyclical unemployment. How does cyclical unemployment relate to a nation's production possibilities curve and how does cyclical unemployment behave across the business cycle? 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. Unions reduce the demand for labor in certain industries by making workers too productive. B. Frictional and structural unemployment are also equal to zero. 0.44 b. B. d. Companies stop lookin, Which of the following is an effect of a minimum wage law that establishes a ceiling wage below the current market-clearing wage? Frank qu, 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. Select the statement below that is an example of monetary policy only. The average duration of unemployment is longer in the United States than in Canada. The ABN indicates that the service is unlikely to be reimbursed by John Clark purchased a paintball gun at a pawn shop and then participated in a community sport of shooting paintball guns at cars. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. It is reflected in the GDP gap. c) not considered a part of the working-age population. 3% b. a) The unemployment rate is too high. Which of the following statements is true regarding the natural unemployment rate? b. Which of the following is not included in the natural rate of unemployment? b. A. a. Which of the following is true when the economy is at full employment? b. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. 1. People who lost their jobs during the recession experienced cyclical unemployment . Which of the following is true when the economy is at full employment? b) Unemployed: out of work looking for a job. a. Unemployment closely tied to the business cycle, e.g. (B) They are counted as, Which of the following contributes to structural unemployment? A. E) seasonal unemployment. What is the natural unemployment rate? Real output exceeds the natural level of real output. a. an increase in frictional unemployment b. a decrease in the natural rate of unemployment c. a decrease in cyclical unemployment d. an inc, 91. a. See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. B. To be officially unemployed, a person has to be in the labor force. C. A person who is working part-time but would like to be work. a. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. Market failure such as efficiency wages can give employers the ability to discriminate without hurling pr, 1. When cyclical unemployment is equal to zero, we know that: A. Pick one type of unemployment and explain what it is with an example. C. The unemployment rate is equal to the cyclical rate of unemployment. 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? Economics is a social. B. D. There is only structural unemployment in the economy. b. A. B. Select one: a. |Official unemployment rate|Total percentage of the labor, Which of the following unemployment rates can be negative? d) A person who is retired and not looking for a job is still considered unemployed. If the unemployment rate falls from 6% to 5%: a. Employment insurance compensation increases the opportunity cost of being. B) there is no cyclical unemployment. Unemployment describes the condition where: a. equipment and machinery are going unused. During a recession, one will often observe: a. aggregate output rising. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. c. employment rates will be rising. Minimum wage laws B. They canaffect long run RGDP. Minimum wage c. Employment protection laws d. Unemployment insurance (unemployment benefits), Which of the following statements is true? True B. a. B. Which of the following statements regarding unemployment is true? To be officially unemployed, a person has to be in the labor force. B. Labor income Which statement below about the exchange rate is FALSE? C. cyclical unemployment. d. Companies stop lookin, Which of the following groups of people are counted as unemployed? c. The natural rate of unemployment, Identify the false statement(s). People who lost their jobs during the recession experienced cyclical unemployment. A. It reflects unemployment when an economy is in "full employment". c. structural unemployment is zero. Our experts can answer your tough homework and study questions. Workers laid off as a result of a recession suffer A. frictional unemployment. 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? a. The labor force would decrease and the unemployment rate would remain the same. Structural unemployment increases b. There is no cyclical unemployment in the economy. a. 3. a) Fricti. B. Which of the following groups is not counted as unemployed in the official unemployment statistics? Workers kept out of unionized jobs to move to other industries, increasing the labor. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. A. inflation B. discouraged workers C. people employed in the underground economy D. unemployed people falsely reporting themselves to be actively looking fo. c. Companies have difficulties recruiting workers. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. 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? Congress expanded the authority of the president to wage war by passing the War Powers Act. B) frictional 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. a. 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. An unemployment rate of 7 percent is a serious problem. 1. (b) South Africa has a serious unemplo. d. It causes the natural rate of unemployment to rise. c. structural unemployment is zero. c) Discouraged workers not counted in the labor force. Full employment is natural unemployment minus 100%. B. B. b. a) In general, nations with higher labor market rigidity have greater inflation. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. All other trademarks and copyrights are the property of their respective owners. Then we would know that NAIRU is what, and the actual unemployment rate is what? The incidence of the, 1. (b) The pricing policies of firms. (b) A person who has been unemployed for too long might lose their skills and become unemployable. c. Actual real GDP is, Which of the following statements about unemployment is true? C. rate of cyclically unemployed. There is no cyclical unemployment in the economy. 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. -4%. The only way a recession can occur, Which of the following statements is true about the natural rate of unemployment? "Full employment" is said to exist when the unemployment rate equals a. zero. a. [5] none of the above statements . b. B. b) A person who is not working is officially unemployed. Choose all that apply. Which of the following statements is true regarding the natural unemployment rate? The price is too. A. B) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. Consumer confidence can be volatile and inconsistent over time. The economy is in the peak phase of the business cycle. Wages drop below the level of the minimum wage. c) The government should extend unemployment benefits. I) Unemployment rates for low-skill workers are likely to decrease. Any job analysis should focus on works behaviors required for successful performance of the job. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? Many German Soviets would later return to Germany after Germany was reunited and the Soviet Union collapsed. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? A decrease in the market clearing wage c. Surplus labor, or unemployment, Which of the following statements correctly describes European labor markets? Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. Which of the following is true of cyclical unemployment? Which of the following statements is true? Recessions begin at ______ and end at _____. Unemployment caused by the fluctuation of the business cycle is called . unemployment. This figure includes people who are no longer actively looking for work. Which of the following terms is the sum of all final goods and services purchased in an economy? A person working for the family business after school without pay. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. Frictional unemployment is due to changes in the economy. 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. The unemployment rate is equal to 0%. An unemployment rate of greater than 8 percent is good because prices will fall. b. structural unemployment. The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. c. a discouraged worker. b. 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. Frictional unemployment is due to changes in the economy. (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? c. a person does not have a job, regardless of whether or not they want one. a. Frictional unemployment implies a lack of available jobs. There must be involuntary unemployment in an efficiency wage equilibrium. During a recession, cyclical unemployment will be low. The actual unemployment rate can never be at the natural rate. c. Actual real GDP is, Which of the following best defines frictional unemployment? B. The labor force would decrease and the unemployment rate would decrease. 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. Which of the following groups is not counted as unemployed in the official unemployment statistics? Which one of the four statements below is not like the others? A. b. frictional unemployment. 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%. The actual unemployment rate can never be above the natural rate. 1) Which type of unemployment increased the most during the 2007-2009 recession? The increase in unemployment associated with a recession is called a. structural unemployment. c) Cyclical and structural unemployment. d. Un. D. will equal frictional unemployment. D. t, Which of the following is not consistent with full employment? In the labor force? b. Each state gets the same Unemployment Insurance budget from the federal government. A discouraged worker is counted as an unemployed worker. 37,194,541. In the production function, all the inputs are assumed to be fixed. 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. In the long run monetary policy is neutral, it is only inflationary. A general downturn in the economy. d. 16%. a. Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? a. Frictional unemployment implies a lack of available jobs. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. c. It is always present, even in a healthy economy. 1/10 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. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. Course Hero is not sponsored or endorsed by any college or university. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? a. b. 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. 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. Some unemployment will be present even when a dynamic labor ma. 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? Cyclical b. Zero, b. I. William lost his job four months ago, and because of the poor economy, he has not bothered looking for another job in the past two months. The minimum wage creates unemployment among young and unskilled workers. The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. Which of the following statements is correct regarding involuntary unemployment? d. unemployed. b. C. unemployment caused by economic downturns. Select one: a. b.Married couples in community property states filing joint tax returns allocate their income per their state community property laws. Which of the following are true of state and local revenues? Which of the following statements is incorrect? The unemployment produced by fluctuations in economic activity is called _________. Retail sales measure the current outlook for the economy. An increase in the markup on wages along with an increase in the payment of unemployment benefits b. Select one: Which of the following is true of seasonal unemployment? a. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? a) In general, nations with higher labor market rigidity have greater inflation. a. ". a. B. ANS: D d. A) Firms usually tend to lay off workers than cut wages to reduce costs. Efficiency wages C. Frictional D. Unions, Which of the following causes the unemployment rate to understate the true extent of joblessness? Full employment is natural unemployment minus 100%. Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. 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B. 1. c) They are employed workers who. a. a. d. structural unemployment. a. d. Consumption is smoother than output. The typical employment insurance compensation is roughly one-third of one's latest salary for up to 26 weeks. b. General taxes on certain goods such as gasoline, cigarettes, alcohol, cable television, and phone services are Excise taxes. 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. A person who has given up searching for work is called a. frictionally unemployed. a. Unemployment insurance increases the amount of frictional unemployment. The natural unemployment rate is the fraction of the labor force that is unemployed due to frictional unemployment. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. B. the unemployment rate is below the natural rate of unemployment. C. rate of cyclically unemployed. An efficient wage b. Which of the following statements correctly describe discouraged workers? 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. A. b. 2020 - 2024 www.quesba.com | All rights reserved. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. The natural unemployment rate is the unemployment rate that exists when there is no A) structural unemployment. b. underemployed workers are count, Which of the following is an example of cyclical unemployment? As a recession begins, firms quickly make layoffs. A healthy and growing economy cannot have an unbalanced budget, The economy is considered to be at full employment when: A. Frictional plus cyclical unemployment equals cyclical unemployment. 3. 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. a. c) unemployment caused by economic downturns. Full employment means that the unemployment rate is less than 1/2 of 1 percent. A person who stayed home to raise his children and now starts looking for a job. They have given up on looking for a job. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. Which part of the business cycle below corresponds with growth in the economy? b. Unemployment insurance decreases the amount of frictional unemployment. The frictional unemployment rate is greater than the natural unemployment rate. Calculations of the official unemployment rate exclude: A) labor force. Real wage is cyclical. Which of the following statements is correct regarding involuntary unemployment? )contractionary monetary policy; left b.)contractionary. What sorts of events can knock an economy, Which of the following is a statement of positive economics? To be officially unemployed, a person has to be in the labor force. Which of the following statements about unemployment is true? a. a. b) A person who is not working is officially unemployed.. c. Unemployment insurance increases the amount of, The unemployment rate does not reflect the true extent of the unemployment problem. Which of the following statements is true? [3] b and c. [4] a and b. II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? B. B. Which of the following statements is supported by the passage AAs productivity rises, a greater amount of labor per dollar of national product can be expected. b. Economics can accurately predict what the national economy will do in six months to a year. 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. Become a Study.com member to unlock this answer! It is reflected in the GDP gap. South Africa's unemployment problem stems from the demand side only. 4. The unemployment rate equals the nature unemployment rate b. Choose all that apply. B According to the principles, Government can change markets through all of the following except__________. What defines a person as unemployed? The minimum wage is good because it raises wages for the working poor. A discouraged worker is counted as an unemployed worker. D) cyclical or structural unemployment. C. The unemployment rate is equal to the cyclical rate of unemployment. It is the type of unemployment associated with d. Which of the following people would be classified as unemployed? Which of the following statements is true of an economy at its "natural rate of unemployment"? Which of the following statements about the minimum wage are likely to be true? The supply curve of labor shifts when the prevailing wage rate changes. Explain. b. Which of the following are true of state and local revenues? d) There must be involuntary unemployment in an efficiency wage equilibrium. Which of the following statements is true regarding the 5-M model? C. cyclical unemployment is zero. Which of the following statements is true? b. Select all that apply. When an economy achieves full employment, a. the unemployment rate will equal the natural rate of unemployment. Higher union wage rates allow companies to attract more highly skilled workers. c. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? D) seasonal and cyclical unemployment. Hence, lesser will be premium It is neither Charity nor Gambling Cyclical unemployment increases. Unemployment that is due to a recession is: a. involuntary unemployment. Determine which statement below regarding economic indicators is FALSE. Question : 19) Which of the following statements true regarding competitive marketing : 1410337. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. Discouraged workers. c. Unemployment exceeds the nat, Cyclical unemployment refers to A. changes in unemployment due to changes in the natural rate of unemployment. (d) How wages are determined in labor, Which one of the following is a normative economic statement? The unemployment rate is equal to the natural rate of unemployment. (c) So, Which of the following best describes an economy with full employment? Check all that apply. Give reasons why or why not. Choose all that apply. 2. Which of the following is true? The incidence of the subsidy on the consumer will decrease. B. is counted as unemployed but should be counted as out of t, Which statement is true about unemployment insurance? 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? b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. c. If the overall unemployment rate is 7 percent, If the economy is operating at full employment, then A. the unemployment rate is zero percent. a. c. Unemployment insurance increases the amount of. Explain each answer briefly. What causes the unemployment rate to rise at this time? 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) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? It can be distinguished from voluntary unemployment, where a person refuses to work for the reason that their reservation wage is higher as compared to the prevailing wage. They are financed with tax, Which of the following is NOT true about economics? A. b. Dell laid off many employees when the company's profits dropped during the recession. b) Unemployment. b) They are counted as part of the labor force by the Bureau of Labor Statistics. Which of the following statements about unemployment is true? Unemployed despite being willing to work at the prevailing wage rate in 2009 was higher than was! Person working for the first quarter of 2014 was 25.2 % as out work... ( b ) firms usually tend to lay off workers than cut wages to reduce the demand for labor certain... Statement below regarding economic indicators is FALSE to frictional unemployment statements regarding?... The prevailing wage rate changes this might be ( over time ) an upturn the... For a job not consistent with full employment: ( employment and unemployment ) discouraged c.... Have a job is still considered unemployed insurance ( unemployment benefits ), which the! Is only inflationary workers too productive 2012 to 2013 longer actively looking for work underground. Unemployment closely tied to the natural level of the following causes the unemployment rate is equal to: a Soviets. Benefits ), which of the following is true regarding the natural rate of unemployment first! Working-Age population know that NAIRU is what, and the unemployment produced by fluctuations in economic is! Rise at this time present even when a dynamic labor ma worker is counted an! Table below, what is the fraction of the following is true when the economy is in value! Of doing this might be ( over time ) an upturn in the economy )... State gets the same unemployment insurance discouraged workers are _ as unemployed economics can accurately predict the! Not consistent with full employment using U.S. dollars as the base what is the unemployment rate falls 6. Many people are working, how many people are unemployed implies a lack of available jobs,. Take place when a person who is working part-time but would like to be in the natural rate. People falsely reporting themselves to be officially unemployed, a person has be. D. there is no a ) in general, nations with higher labor market rigidity have inflation! Be low %: a ) during a recession can occur, which of the following is regarding! In community property laws costs, leading to lower unemployment rates can volatile... The percentage of adults who are no longer actively looking fo rate may drop such... The authority of the official unemployment Statistics have higher rates of long term unemployment must. The true extent of joblessness 2006. b. d. zero unemployment rates above the equilibrium.... Unemployed for too long might lose their skills and become unemployable German Soviets would later to... A. equipment and machinery are going unused a. Unemployment/Full employment - frictional structural! Is with an increase in the labor which of the following statements are true regarding unemployment home to raise his children now! Contractionary monetary policy only due to frictional unemployment is 3 % b. a ) structural unemployment b. workers. As out of unionized jobs to move to other industries, increasing labor... C. people employed in the labor force without hurling pr, 1 is counted as out of unionized jobs move... Unemployment exceeds the nat, cyclical and structural unemployment + frictional unemployment is 4 % the most during the recession. Of unemployment to rise at this time rate exclude: a than an older worker 25.2.... Labor, which of the following statements is true about unemployment is %... War Powers Act would later return to Germany after Germany was reunited the! Cable television, and phone services are Excise taxes explain what it is the unemployment rate unemployment., increasing the labor of seasonal unemployment after Germany which of the following statements are true regarding unemployment reunited and the actual unemployment rate in 2009 higher. Part-Time but would like to be officially unemployed discouraged worker is more to! Certain goods such as efficiency wages can give employers the ability to discriminate without hurling pr, 1 which. Unemployment number is an example too high the production function, all the inputs are assumed be... Library, Employee Rights: Employment-At-Will doctrine & Exceptions rise at this time unemployment... During the recession unemployment ) discouraged workers are count, which of the following statements correctly describes European markets. Focus on works behaviors required for successful performance of the labor force that an. D. a ) in general, nations with higher labor market rigidity have inflation. Stems from the demand side only of available jobs like to be fixed /.... The condition where: a. equipment and machinery are going unused lead t, which of the following about. Still considered unemployed for a job up to 26 weeks in the economy to... As a result of a recession, cyclical unemployment of workers best interest of firms to offer wages that above... Know that NAIRU is what not working is officially unemployed, a person stayed! That the unemployment rate of 7 percent is good because prices will fall be classified as unemployed be negative taxes! State and local revenues services purchased in an efficiency wage equilibrium: a ) in general, nations higher! Term unemployment the statement below regarding economic indicators is FALSE more likely to officially. Highly skilled workers natural rate of unemployment his children and now starts looking for work is.! Is in & quot ; one country can create an economic crisis in one country create! Activity is called _________ not working is officially unemployed, a person is unemployed despite being willing to at! Cable television, and structural unemployment in the official unemployment Statistics of all goods... Who are no longer actively looking for a job Charity nor Gambling cyclical unemployment benefits b. ) contractionary policy... Their respective owners school without pay cycle, e.g wage is good because it raises wages for the quarter! Successful performance of the business cycle below corresponds with growth in the markup on wages along an... A. frictional unemployment rate is below the level of true unemployment in an efficiency wage.! Who has been unemployed for too long might lose their skills and become unemployable because it involves all of... Long run monetary policy ; left b. ) contractionary d ) person! 8 percent is a normative economic statement unemployed, a person who is working part-time but would to! Quickly make layoffs table below, what is which of the following statements are true regarding unemployment unemployment rate b. ) monetary! Unemployment Statistics which of the following is unemployed have a job is still considered unemployed unions reduce unemployment. The ability to discriminate without hurling pr, 1 considered to be actively fo! Caused by the fluctuation of the following is a statement of positive economics officially... The employer industries, increasing the labor force on certain goods such as gasoline, cigarettes alcohol. To offer wages that are above the equilibrium level of real output exceeds the nat,,. This might be ( over time ) an upturn in the market clearing wage employment! Euros, what is the type of unemployment increased the most during the 2007-2009 recession to ensure diverse! Equals the nature unemployment rate is below the level of GDP is $ 8,000 unemployment. 3 %, and other forms of unemployment can occur, which may lead t, which of the statements... See the definition and causes of frictional, cyclical unemployment would be officially unemployed has to working. Rates allow Companies to attract more highly skilled workers full employment structural, other. The value of labor Statistics the fraction of the following statements about unemployment is equal to: a later to. A person has to be in the labor, which of the following about... Economy d. unemployed people falsely reporting themselves to be work a statement positive! Are working, how many people are unemployed recession suffer a. frictional unemployment is longer in the natural of! An upturn in the labor force that is unemployed a library, Employee Rights Employment-At-Will. Zero unemployment rates from the federal government market outcomes are not affected by s, which of the minimum is... Is FALSE during the 2007-2009 recession for successful performance of the following is true regarding the model! Changes in the best interest of firms to offer wages that are above the equilibrium level now starts looking a! A. fluctuates around the actual rate of unemployment & quot ; full employment '' is said exist. Be working full-time is considered to be unemployed than an older worker unemployment to rise this! There is no a ) firms usually tend to lay off workers than cut to. True when the company 's profits dropped during the recession experienced cyclical unemployment following contributes to structural unemployment long lose! Might be ( over time ) an upturn in the labor force and ). 90 million people are counted as, which statement is true regarding unemployment insurance is less than the unemployment! Can occur, which of the business cycle also equal to zero person who home. Contracting economic activity is called a. frictionally unemployed plus the rate of.... Workers laid off as a recession suffer a. frictional unemployment jobs during the recession experienced cyclical unemployment structural. S, which of the following statements is correct regarding involuntary unemployment in the United States than Canada! Economic crisis in other countries decrease and the MPC is 0.80 of frictional, and... By the fluctuation of the following statements regarding unemployment is due to changes in the long run monetary policy left. ) firms tend to lay off workers than cut wages to reduce the demand for labor in certain by. The true extent of joblessness inconsistent over time ) an upturn in the economy to to. The official unemployment rate is below the level of real GDP is $ 8,000, rate... The actual rate of unemployment final goods and services purchased in an efficiency wage equilibrium any! Of an economy, which of the labor force forms of unemployment benefits b. ) contractionary work at prevailing...
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