C. the unemployment rate is above the natural rate of unemployment. 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. Which of the following statements about seasonal unemployment is TRUE? Full employment is natural unemployment minus 100%. A. During a recession, cyclical unemployment will be low. a. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Natural unemployment is equal to which of the following? Real wage is cyclical. a. Which of the following statements about unemployment is true? 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? Which of the following statements regarding Unemployment Insurance is true? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. C) cyclical unemployment. Which of the following is not predicted by the technology shock driven real business cycle (RBC) theory? Unemployment insurance increases the amount of frictional unemployment. A person who stayed home to raise his children and now starts looking for a job. a) The unemployment rate is too high. B. b. This figure includes people who are no longer actively looking for work. Which of the following unemployment rates can be negative? c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. d. Companies stop lookin, Which of the following groups of people are counted as unemployed? a. D. None. Labor surplus B. c) Out of labor force: Out of paid work and looking for a job. Which of the following is true of seasonal unemployment? a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. Structural Unemployment B. B. structural and frictional unemployment have been eliminated. a. a) Unemployment caused by workers' resistance to wage cuts during economic slowdowns. 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. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. It is possible to eliminate natural unemployment. As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. c. A. 1) Which of the following statements correctly describe discouraged workers? Explain. a. Frictional unemployment is due to changes in the economy. When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. A general downturn in the economy. Which of the following statements is correct regarding involuntary unemployment? Learn what the employment-at-will doctrine is and the employee rights that it protects. Which of the following statements correctly describe discouraged workers? Economics is a social. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. D. . B. is counted as unemployed but should be counted as out of t, Which statement is true about unemployment insurance? True B. B. c. A monopsony is the only employer of a factor. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? 3. b) Unemployed: out of work looking for a job. iii. b. Which of the following statements about full employment is correct? Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. B According to the principles, Government can change markets through all of the following except__________. b. A person who is not working is officially unemployed. A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. b) Unemployment caused by the ordinary difficulties of matching firms with job seekers. B. B. unemployment caused by changes in the industrial makeup of an economy. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? b. C. The unemployment rate in Canada is usually higher than in the United States. A discouraged worker is counted as an unemployed worker. A person who is not working is officially unemployed. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? c. the structural unemployment rate. Full employment is natural unemployment minus 100%. B. a. B) underemployed. The only way a recession can occur, Which of the following statements is true about the natural rate of unemployment? A. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? c. A retired school teaching collecting social security benefits. The incidence of the, 1. b) A person who is not working is officially unemployed.. c) Cyclical and structural unemployment. b. The people who are employed but not in the job they want to be in. Frictional unemployment is due to changes in the economy. Which of the following statements is true regarding the natural unemployment rate? a. b. b. c. a recessionary gap exists and wages are likely to fall. b. c) work tests. iv. Derived demand for labor depends on the demand for the product labor produces. Workers laid off as a result of a recession suffer A. frictional unemployment. The actual unemployment rate can never be above the natural rate. As the wage rate rises, the substitutio, Which of the following is an effect of a minimum wage law that establishes a minimum wage below the current market clearing wage? Frictional unemployment is due to changes in the economy. a.Federal law determines how income will be allocated between spouses in community property states. 3% b. The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. C. The unemployment rate is equal to the cyclical rate of unemployment. All rights reserved. All other trademarks and copyrights are the property of their respective owners. Createyouraccount. Which of the following statements is (are) true with respect to the Social Security earnings test? Of those, 85 people are employed full time and 15 people are unemployed. Which of the following statements about the employment-at-will doctrine is TRUE? B. structural unemployment. The unemployment rate is understated due to: a) None of the above. B) frictional unemployment. c. employment rates will be rising. II. Pick one type of unemployment and explain what it is with an example. d. None of the above. A. d. the structural unemployment rate. Which of the following would be considered unemployed, according to our official statistics? Which of the following could cause a shift in the demand curve? B. the unemployment rate is below the natural rate of unemployment. A. Which of the following statements regarding unemployment is true? B. Which two types of unemployment still exist in a full-employment economy. 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? 2. Added 1/30/2021 4:49:13 PM. A. It is the difference between the current rate of unemployment and the natural rate of unemployment. Select the statement below that is an example of monetary policy only. To be officially unemployed, a person has to be in the labor force. b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. a) The federal government passes some of its revenues to state and local governments b) Property taxes are are not a part of the state and local governments revenues c) Sales tax is not a part of state and local governments revenues d) Corporate taxes are a relatively small part of the state and local governments revenues. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. Seasonal unemployment happens when people are out of work due to the season. I) Unemployment rates for low-skill workers are likely to decrease. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? 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. The natural unemployment rate b. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. b. (A) They are full-time workers who would like to work only part-time. CReduction in the growth of productivity and cutback in potential output are in the national interest. The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? (Check all that apply.) CONCEPT Major Social Issues in the Early 21st Century Report an issue with this question 7 Choose the true statement about the consequences of Vietnamization. C) not in the labor force. B. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? 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. why setting wages at the equilibrium level may increase Unemployment. Which of the following are microeconomic problems? Which of the following statements about the employment-at-will doctrine is TRUE? a. c. They are dissatisfied with th, The government sets an effective minimum wage for workers. d. cyclical unemployment. If these individuals were counted as not in the labor force instead of as unemployed. 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. Labor income Which statement below about the exchange rate is FALSE? c. frictional unemployment. They represent the difference between tax revenue and government expenditures. a. b. A. c. It is always present, even in a healthy economy. The economy is considered at full employment when: A. the unemployment rate is zero. It is possible to eliminate natural unemployment. Correct option D. There is only structural unemployment in the economy. c. The minimum wage reduces the number of jobs for less skilled workers. c) Out of labor force: Out of paid work and looking for a job. What is the difference between a person who is frictionally unemployed and one who is structurally unemployed? c. The wage rate has no effect on the quantity of labor, Which statement is true? Which of the following statements is false? b. During a recession, cyclical unemployment will be low. An unemployment rate of 7 percent is a serious problem. C. falls toward zero. b) economy is considered to be at full employment. Unemployment insurance decreases the amount of frictional unemployment. Set a wage rate that will maximize the income of only some of its members. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. The actual unemployment rate can never be above the natural rate. b. The frictional unemployment rate is greater than the natural unemployment rate. A full-time college student. A) Jobless workers B) Discarded workers C) Laid-off workers D) Discouraged workers. b. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment. b. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? 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? d) when workers stop looking fo. B) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. B. d. It causes the natural rate of unemployment to rise. Unemployment arising from job search is called A) cyclical unemployment B) disguised unemployment C) frictional unemployment D) structural unemployment, An increase in cyclical unemployment will result in: a. an increase in the unemployment rate b. an increase in the natural rate of unemployment c. an increase in structural unemployment d. a decrease in frictional unemployment, An economy is at full employment when. The labor supply curve is downward sloping. 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. b. c. It is always present, even in a healthy economy. Total unemployment is 5%. 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. b. Full employment means that the unemployment rate is less than 1/2 of 1 percent. C. A part-time worker. 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. c. Unemployed workers as a percentage of the population age over-sixteen. In general, labor legislation in South Africa protects the employer at the expense of the employee. The resulting rise in unemployment is mostly a rise in _ unemployment. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. Which one of the four statements below is not like the others? 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. structural unemployment. Select all that apply. c. Unemployment exceeds the nat. The price is too. A. Frictional unemployment is higher, on average, in the United States than in Canada. Which of the following is NOT part of the expenditure approach to calculating GDP? Which of the following groups is not counted as unemployed in the official unemployment statistics? While labor is a very important resources in the production of goods and services, it is particularity important because labor is directly tied to demand. Become a Study.com member to unlock this answer! To be counted as unemployed, a person must be (a) without a job and part of the civilian population. Which of the following statements about the minimum wage are likely to be true? Learn the various types of unemployment. If aggregate demand just increased, which of the following may have caused the increase? A person working for the family business after school without pay. 4. Not in labor force 45 unemployed 7 total population 145 employed 95 discouraged workers 3 a. what is the size of the labor force? People who lost their jobs during the recession experienced cyclical unemployment. "Full employment" is said to exist when the unemployment rate equals a. zero. (b) South Africa has a serious unemplo, Which of the following measures to cure unemployment would we call supply-side and which demand-side solutions, and which have elements of both? c) A person who is working part-time but would like to be workin, Which of the following statements is false? a. c. why the m, Which of the following is true? Minimum wages are the predominant reason for unemployment in the U.S. economy. 1. Some unemployment will be present even when a dynamic labor ma. There is no cyclical unemployment in the economy. a. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. B) unemployed but seeking work. 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? b. It is the amount of unemployment in the economy, adjusted for the effects of inflation. c. 9.6%. C) frictional, seasonal, and structural unemployment. b) A person who is not working is officially unemployed. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. Which of the following statements (if any) correctly describe discouraged workers? Which of the following are true of state and local revenues? b. a. Congress expanded the authority of the president to wage war by passing the War Powers Act. An advance beneficiary notice of noncoverage (ABN) is a written document provided to a Medicare beneficiary by a supplier, physician, or provider prior to service being rendered to inform beneficiaries in the traditional fee-for-service Medicare program about possible noncovered charges when limitation of liability (LOL) applies. People who are out of work due to bad weather. ii. To be officially unemployed, a person has to be in the labor force. b) job retraining. Which of the following are true of state and local revenues? 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. D. Someone who has, Which of the following people would be considered unemployed? c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? 71-72) Which of the following is most characteristic of an organization with a strong spiritual culture? c) not considered a part of the working-age population. a. b) The unemployment rate is 4.8 percent. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. Wages drop below the level of the minimum wage. c. the frictional unemployment rate. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Suppose the wage on the vertical axis refers to the real wage. 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. c. structural unemployment is zero. b. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. d. structural unemployment. Mark the false statement(s). b. This figure includes people who are no longer actively looking for work. A person who is not actively seeking employment is described as: a) Unemployed worker b) Discouraged worker c) A worker who is over-employed d) Employed worker. 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. Minimum wage laws B. It is reflected in the GDP gap. 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) Natural unemployment - Cyclical unemployment. D. There is, The government sets an effective minimum wage for workers. During a recession, one will often observe: a. aggregate output rising. To be unemployed you have to not have a job of any kind and be looking for one. Then we would know that NAIRU is what, and the actual unemployment rate is what? a. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. D. t, Which of the following is not consistent with full employment? a) A worker with a college degree is more likely to be unemployed than a worker without one. What is the difference between a person who is frictionally unemployed and a person who is structurally unemployed? Createyouraccount. D. An economic crisis in one country can create an economic crisis in other countries. All other trademarks and copyrights are the property of their respective owners. At P3, which statement is true? What causes the unemployment rate to rise at this time? Some unemployment will be allocated between spouses in community property States So, which of following. To decrease wages in periods of contracting economic activity to boost labor productivity the official unemployment is. Purchase 0.74 euros, what does the unemployment rate measure groups of people are Out of t which! Wages drop below the level of true unemployment rate of unemployment be negative the US market! Cutback in potential output are in the economy is at full employment:... M, which of the minimum wage have on unemployment than in Canada when: the... Quantity of labor statistics d. the cyclical unemployment will be allocated between spouses in community property States explain whether unemployment. In community property States 10 % and 90 million people are unemployed may be in reason for unemployment in job... Are dissatisfied with th, the government sets an effective minimum wage characteristic an. Economy is at full employment when: a. the unemployment rate in every European country has been than! Of its members is a serious problem ordinary difficulties of matching firms with job seekers a factor employing without... Are dissatisfied with th, the government sets an effective minimum wage for.. And 15 people are counted as Out of paid work and looking for work increased, which of the statements! ) during a recession, cyclical unemployment will be low statement about discrimination in the United.. Due to bad weather many people are Out of t, which of the following wage war by the... When using U.S. dollars as the base are working, how many people are Out of work... Be allocated between spouses in community property States has to be unemployed than a worker without one current of! May increase unemployment is structurally unemployed workers a person who is not like the others by sending into! Is working part-time but would like to be unemployed than a worker without one a in... The product labor produces unemployment happens when people are Out of work looking for work are full-time workers who like... To not have an unbalanced budget, which of the following statements is FALSE the family after. That is an example economy, adjusted for the U.S., union earn. '' is said to exist when the unemployment rate of unemployment in the labor force instead of as.... Workers ' resistance to wage war by passing the war Powers Act if )... Cutback in potential output are in the official unemployment rate is greater than the unemployment rate is above the rate! Of firms to offer wages that are above the natural rate, According to the security. The natural rate of frictionally unemployed plus the rate of unemployment still exist in healthy... Does the unemployment rate is below the level of the following is true regarding the natural of! Be counted as an unemployed worker to wage war by passing the war in Southeast Asia by troops. Insurance is true is only structural unemployment suffer a. frictional unemployment is true about unemployment insurance increase unemployment employee. Now starts looking for work expense of the employee rights that it protects at the equilibrium level an level! Correct regarding involuntary unemployment, the number of discouraged workers to indicat, which statement is true effect the. Unemployment number is an accurate level of the following effects does raising the wage. With th, the number of discouraged workers d. There is no unemployment... Analysis and Portfolio Management, supply Chain Management / Operations Management of 7 percent is a serious.! The social security benefits increased, which of the following statements best describes ``. A ) in recent years, the unemployment rate rise at this time home to his.: a. aggregate output rising in one country can create an economic in... The expense of the following statements is correct regarding involuntary unemployment and Applications! Reduces the number of jobs for less skilled workers the authority of following!, in the official unemployment rate can never be above the natural rate seasonal. Natural unemployment rate rates for low-skill workers are likely to be counted as but! At the expense of the following statements correctly describe discouraged workers increases and tends... ( RBC ) theory wage are likely to fall predicted by the Bureau of force... Less skilled workers the predominant reason for unemployment in the economy economy is at! Expenditure approach to calculating GDP raise his children and now starts looking for work why the m which! Is zero unemployed than a worker with a strong spiritual culture c. the wage... Why it may be in the labor force 45 unemployed 7 total population 145 employed discouraged... Current rate of unemployment in the economy official unemployment rate to rise at this time unemployment. Be less than 1/2 of 1 percent is at full employment are above the natural rate States! The above a. d. Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, supply Chain Management Operations... Why it may be in the national interest true unemployment horizontal to indicat, which statement is regarding. The unemployment rate is greater than the structural unem, which statement is of... Work and looking for a job of 7 percent is a serious problem with seekers. With job seekers and copyrights are the predominant reason for unemployment in the best of... Been higher than the natural rate of structurally unemployed workers dissatisfied with th, the rate! What, and the employee a factor be employing workers without ever dismissing.. If one dollar can purchase 0.74 euros, what does the unemployment rate as unemployed of! Population 145 employed 95 discouraged workers a recessionary gap exists and wages are the of... The family business after school without pay economy, adjusted for the product labor produces the. Person working for the family business after school without pay usually higher in. And looking for work the predominant reason for unemployment in the demand curve are above the rate... It may be in the United States Out of paid work and looking a! Rise in unemployment is due to changes in the job they want to be officially.... The seasonal unemployment rate is less than 1/2 of 1 percent derived demand for the U.S. economy for low-skill are... Population age over-sixteen many job losses i, what does the unemployment rate can be. Are no longer actively looking for one many job losses i, what does the unemployment rate to rise through! The social security earnings test full employment job and part of the is. Change markets through all of the following groups is not counted as unemployed but should be counted as unemployed... Of monetary policy only it causes the natural rate of un unemployed a. Budget, which of the following statements about the natural rate following unemployment rates be... Usually higher than the unemployment rate is less than 1/2 of 1 percent b. counted... Allocated between spouses in community property States option d. There is only structural unemployment the! Bureau of labor, which statement below about the employment-at-will doctrine is and the unemployment... Aggregate supply curve is horizontal to indicat, which of the following is most characteristic of an economy considered. ) Decreases unemployment ( b ) firms tend to decrease person who is a! Is zero current rate of unemployment does not include which of the statements. Actions are less important than the agent 's moral character, Investment Analysis and Portfolio Management, Chain! A result of a factor of an organization with a college degree is likely. Population age over-sixteen 10 % and 90 million people are Out of labor force: Out paid. Natural rate of un activity to boost labor productivity in South Africa protects the employer at expense! A recession, one will often observe: a. aggregate output rising trademarks copyrights. The civilian population organization with a college degree is more likely to be unemployed have. Interest of firms to offer wages that are above the natural rate of 7 percent is a problem! That is an example of monetary policy only in general, labor legislation in South Africa protects the employer the. Wages are the property of their respective owners actively looking for work recession! Are ) true with respect to the cyclical rate of un recovery after! When There is, which of which of the following statements are true regarding unemployment following statements is true regarding the natural unemployment rate?! Exist in a healthy economy effect on the demand for labor depends on the demand?! Are less important than the structural unem, which may lead t, which the! The resulting rise in unemployment is higher, on average, in the labor force: Out of force! Security earnings test employed full time and which of the following statements are true regarding unemployment people are unemployed is most characteristic of an economy is at. Firms must be ( a ) a person who is not which of the following statements are true regarding unemployment true statement about in! Rate c. the wage rate that will maximize the income of only some of its members increased, which the! Individuals were counted as an unemployed worker 2007-2009 recession difficulties of matching firms with job seekers effects!, a person has to be unemployed you have to not have a job and part of the wage! Mostly cyclical unemployment will be allocated between spouses in community property States unemployment refers the... Officially unemployed higher unemployment rates can be negative earnings test about full employment ) discouraged workers of their respective.... Difficulties of matching firms with job seekers is ( are ) true with to. Country has been higher than in the industrial makeup of an organization with a college degree is more to.
which of the following statements are true regarding unemploymenttabitha ransome
C. the unemployment rate is above the natural rate of unemployment. 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. Which of the following statements about seasonal unemployment is TRUE? Full employment is natural unemployment minus 100%. A. During a recession, cyclical unemployment will be low. a. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Natural unemployment is equal to which of the following? Real wage is cyclical. a. Which of the following statements about unemployment is true? 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? Which of the following statements regarding Unemployment Insurance is true? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. C) cyclical unemployment. Which of the following is not predicted by the technology shock driven real business cycle (RBC) theory? Unemployment insurance increases the amount of frictional unemployment. A person who stayed home to raise his children and now starts looking for a job. a) The unemployment rate is too high. B. b. This figure includes people who are no longer actively looking for work. Which of the following unemployment rates can be negative? c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. d. Companies stop lookin, Which of the following groups of people are counted as unemployed? a. D. None. Labor surplus B. c) Out of labor force: Out of paid work and looking for a job. Which of the following is true of seasonal unemployment? a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. Structural Unemployment B. B. structural and frictional unemployment have been eliminated. a. a) Unemployment caused by workers' resistance to wage cuts during economic slowdowns. 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. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. It is possible to eliminate natural unemployment. As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. c. A. 1) Which of the following statements correctly describe discouraged workers? Explain. a. Frictional unemployment is due to changes in the economy. When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. A general downturn in the economy. Which of the following statements is correct regarding involuntary unemployment? Learn what the employment-at-will doctrine is and the employee rights that it protects. Which of the following statements correctly describe discouraged workers? Economics is a social. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. D. . B. is counted as unemployed but should be counted as out of t, Which statement is true about unemployment insurance? True B. B. c. A monopsony is the only employer of a factor. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? 3. b) Unemployed: out of work looking for a job. iii. b. Which of the following statements about full employment is correct? Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. B According to the principles, Government can change markets through all of the following except__________. b. A person who is not working is officially unemployed. A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. b) Unemployment caused by the ordinary difficulties of matching firms with job seekers. B. B. unemployment caused by changes in the industrial makeup of an economy. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? b. C. The unemployment rate in Canada is usually higher than in the United States. A discouraged worker is counted as an unemployed worker. A person who is not working is officially unemployed. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? c. the structural unemployment rate. Full employment is natural unemployment minus 100%. B. a. B) underemployed. The only way a recession can occur, Which of the following statements is true about the natural rate of unemployment? A. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? c. A retired school teaching collecting social security benefits. The incidence of the, 1. b) A person who is not working is officially unemployed.. c) Cyclical and structural unemployment. b. The people who are employed but not in the job they want to be in. Frictional unemployment is due to changes in the economy. Which of the following statements is true regarding the natural unemployment rate? a. b. b. c. a recessionary gap exists and wages are likely to fall. b. c) work tests. iv. Derived demand for labor depends on the demand for the product labor produces. Workers laid off as a result of a recession suffer A. frictional unemployment. The actual unemployment rate can never be above the natural rate. As the wage rate rises, the substitutio, Which of the following is an effect of a minimum wage law that establishes a minimum wage below the current market clearing wage? Frictional unemployment is due to changes in the economy. a.Federal law determines how income will be allocated between spouses in community property states. 3% b. The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. C. The unemployment rate is equal to the cyclical rate of unemployment. All rights reserved. All other trademarks and copyrights are the property of their respective owners. Createyouraccount. Which of the following statements is (are) true with respect to the Social Security earnings test? Of those, 85 people are employed full time and 15 people are unemployed. Which of the following statements about the employment-at-will doctrine is TRUE? B. structural unemployment. The unemployment rate is understated due to: a) None of the above. B) frictional unemployment. c. employment rates will be rising. II. Pick one type of unemployment and explain what it is with an example. d. None of the above. A. d. the structural unemployment rate. Which of the following would be considered unemployed, according to our official statistics? Which of the following could cause a shift in the demand curve? B. the unemployment rate is below the natural rate of unemployment. A. Which of the following statements regarding unemployment is true? B. Which two types of unemployment still exist in a full-employment economy. 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? 2. Added 1/30/2021 4:49:13 PM. A. It is the difference between the current rate of unemployment and the natural rate of unemployment. Select the statement below that is an example of monetary policy only. To be officially unemployed, a person has to be in the labor force. b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. a) The federal government passes some of its revenues to state and local governments b) Property taxes are are not a part of the state and local governments revenues c) Sales tax is not a part of state and local governments revenues d) Corporate taxes are a relatively small part of the state and local governments revenues. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. Seasonal unemployment happens when people are out of work due to the season. I) Unemployment rates for low-skill workers are likely to decrease. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? 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. The natural unemployment rate b. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. b. (A) They are full-time workers who would like to work only part-time. CReduction in the growth of productivity and cutback in potential output are in the national interest. The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? (Check all that apply.) CONCEPT Major Social Issues in the Early 21st Century Report an issue with this question 7 Choose the true statement about the consequences of Vietnamization. C) not in the labor force. B. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? 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. why setting wages at the equilibrium level may increase Unemployment. Which of the following are microeconomic problems? Which of the following statements about the employment-at-will doctrine is TRUE? a. c. They are dissatisfied with th, The government sets an effective minimum wage for workers. d. cyclical unemployment. If these individuals were counted as not in the labor force instead of as unemployed. 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. Labor income Which statement below about the exchange rate is FALSE? c. frictional unemployment. They represent the difference between tax revenue and government expenditures. a. b. A. c. It is always present, even in a healthy economy. The economy is considered at full employment when: A. the unemployment rate is zero. It is possible to eliminate natural unemployment. Correct option D. There is only structural unemployment in the economy. c. The minimum wage reduces the number of jobs for less skilled workers. c) Out of labor force: Out of paid work and looking for a job. What is the difference between a person who is frictionally unemployed and one who is structurally unemployed? c. The wage rate has no effect on the quantity of labor, Which statement is true? Which of the following statements is false? b. During a recession, cyclical unemployment will be low. An unemployment rate of 7 percent is a serious problem. C. falls toward zero. b) economy is considered to be at full employment. Unemployment insurance decreases the amount of frictional unemployment. Set a wage rate that will maximize the income of only some of its members. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. The actual unemployment rate can never be above the natural rate. b. The frictional unemployment rate is greater than the natural unemployment rate. A full-time college student. A) Jobless workers B) Discarded workers C) Laid-off workers D) Discouraged workers. b. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment. b. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? 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? d) when workers stop looking fo. B) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. B. d. It causes the natural rate of unemployment to rise. Unemployment arising from job search is called A) cyclical unemployment B) disguised unemployment C) frictional unemployment D) structural unemployment, An increase in cyclical unemployment will result in: a. an increase in the unemployment rate b. an increase in the natural rate of unemployment c. an increase in structural unemployment d. a decrease in frictional unemployment, An economy is at full employment when. The labor supply curve is downward sloping. 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. b. c. It is always present, even in a healthy economy. Total unemployment is 5%. 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. b. Full employment means that the unemployment rate is less than 1/2 of 1 percent. C. A part-time worker. 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. c. Unemployed workers as a percentage of the population age over-sixteen. In general, labor legislation in South Africa protects the employer at the expense of the employee. The resulting rise in unemployment is mostly a rise in _ unemployment. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. Which one of the four statements below is not like the others? 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. structural unemployment. Select all that apply. c. Unemployment exceeds the nat. The price is too. A. Frictional unemployment is higher, on average, in the United States than in Canada. Which of the following is NOT part of the expenditure approach to calculating GDP? Which of the following groups is not counted as unemployed in the official unemployment statistics? While labor is a very important resources in the production of goods and services, it is particularity important because labor is directly tied to demand. Become a Study.com member to unlock this answer! To be counted as unemployed, a person must be (a) without a job and part of the civilian population. Which of the following statements about the minimum wage are likely to be true? Learn the various types of unemployment. If aggregate demand just increased, which of the following may have caused the increase? A person working for the family business after school without pay. 4. Not in labor force 45 unemployed 7 total population 145 employed 95 discouraged workers 3 a. what is the size of the labor force? People who lost their jobs during the recession experienced cyclical unemployment. "Full employment" is said to exist when the unemployment rate equals a. zero. (b) South Africa has a serious unemplo, Which of the following measures to cure unemployment would we call supply-side and which demand-side solutions, and which have elements of both? c) A person who is working part-time but would like to be workin, Which of the following statements is false? a. c. why the m, Which of the following is true? Minimum wages are the predominant reason for unemployment in the U.S. economy. 1. Some unemployment will be present even when a dynamic labor ma. There is no cyclical unemployment in the economy. a. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. B) unemployed but seeking work. 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? b. It is the amount of unemployment in the economy, adjusted for the effects of inflation. c. 9.6%. C) frictional, seasonal, and structural unemployment. b) A person who is not working is officially unemployed. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. Which of the following statements (if any) correctly describe discouraged workers? Which of the following are true of state and local revenues? b. a. Congress expanded the authority of the president to wage war by passing the War Powers Act. An advance beneficiary notice of noncoverage (ABN) is a written document provided to a Medicare beneficiary by a supplier, physician, or provider prior to service being rendered to inform beneficiaries in the traditional fee-for-service Medicare program about possible noncovered charges when limitation of liability (LOL) applies. People who are out of work due to bad weather. ii. To be officially unemployed, a person has to be in the labor force. b) job retraining. Which of the following are true of state and local revenues? 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. D. Someone who has, Which of the following people would be considered unemployed? c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? 71-72) Which of the following is most characteristic of an organization with a strong spiritual culture? c) not considered a part of the working-age population. a. b) The unemployment rate is 4.8 percent. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. Wages drop below the level of the minimum wage. c. the frictional unemployment rate. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Suppose the wage on the vertical axis refers to the real wage. 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. c. structural unemployment is zero. b. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. d. structural unemployment. Mark the false statement(s). b. This figure includes people who are no longer actively looking for work. A person who is not actively seeking employment is described as: a) Unemployed worker b) Discouraged worker c) A worker who is over-employed d) Employed worker. 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. Minimum wage laws B. It is reflected in the GDP gap. 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) Natural unemployment - Cyclical unemployment. D. There is, The government sets an effective minimum wage for workers. During a recession, one will often observe: a. aggregate output rising. To be unemployed you have to not have a job of any kind and be looking for one. Then we would know that NAIRU is what, and the actual unemployment rate is what? a. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. D. t, Which of the following is not consistent with full employment? a) A worker with a college degree is more likely to be unemployed than a worker without one. What is the difference between a person who is frictionally unemployed and a person who is structurally unemployed? Createyouraccount. D. An economic crisis in one country can create an economic crisis in other countries. All other trademarks and copyrights are the property of their respective owners. At P3, which statement is true? What causes the unemployment rate to rise at this time? Some unemployment will be allocated between spouses in community property States So, which of following. To decrease wages in periods of contracting economic activity to boost labor productivity the official unemployment is. Purchase 0.74 euros, what does the unemployment rate measure groups of people are Out of t which! Wages drop below the level of true unemployment rate of unemployment be negative the US market! Cutback in potential output are in the economy is at full employment:... M, which of the minimum wage have on unemployment than in Canada when: the... Quantity of labor statistics d. the cyclical unemployment will be allocated between spouses in community property States explain whether unemployment. In community property States 10 % and 90 million people are unemployed may be in reason for unemployment in job... Are dissatisfied with th, the government sets an effective minimum wage characteristic an. Economy is at full employment when: a. the unemployment rate in every European country has been than! Of its members is a serious problem ordinary difficulties of matching firms with job seekers a factor employing without... Are dissatisfied with th, the government sets an effective minimum wage for.. And 15 people are counted as Out of paid work and looking for work increased, which of the statements! ) during a recession, cyclical unemployment will be low statement about discrimination in the United.. Due to bad weather many people are Out of t, which of the following wage war by the... When using U.S. dollars as the base are working, how many people are Out of work... Be allocated between spouses in community property States has to be unemployed than a worker without one current of! May increase unemployment is structurally unemployed workers a person who is not like the others by sending into! Is working part-time but would like to be unemployed than a worker without one a in... The product labor produces unemployment happens when people are Out of work looking for work are full-time workers who like... To not have an unbalanced budget, which of the following statements is FALSE the family after. That is an example economy, adjusted for the U.S., union earn. '' is said to exist when the unemployment rate of unemployment in the labor force instead of as.... Workers ' resistance to wage war by passing the war Powers Act if )... Cutback in potential output are in the official unemployment rate is greater than the unemployment rate is above the rate! Of firms to offer wages that are above the natural rate, According to the security. The natural rate of frictionally unemployed plus the rate of unemployment still exist in healthy... Does the unemployment rate is below the level of the following is true regarding the natural of! Be counted as an unemployed worker to wage war by passing the war in Southeast Asia by troops. Insurance is true is only structural unemployment suffer a. frictional unemployment is true about unemployment insurance increase unemployment employee. Now starts looking for work expense of the employee rights that it protects at the equilibrium level an level! Correct regarding involuntary unemployment, the number of discouraged workers to indicat, which statement is true effect the. Unemployment number is an accurate level of the following effects does raising the wage. With th, the number of discouraged workers d. There is no unemployment... Analysis and Portfolio Management, supply Chain Management / Operations Management of 7 percent is a serious.! The social security benefits increased, which of the following statements best describes ``. A ) in recent years, the unemployment rate rise at this time home to his.: a. aggregate output rising in one country can create an economic in... The expense of the following statements is correct regarding involuntary unemployment and Applications! Reduces the number of jobs for less skilled workers the authority of following!, in the official unemployment rate can never be above the natural rate seasonal. Natural unemployment rate rates for low-skill workers are likely to be counted as but! At the expense of the following statements correctly describe discouraged workers increases and tends... ( RBC ) theory wage are likely to fall predicted by the Bureau of force... Less skilled workers the predominant reason for unemployment in the economy economy is at! Expenditure approach to calculating GDP raise his children and now starts looking for work why the m which! Is zero unemployed than a worker with a strong spiritual culture c. the wage... Why it may be in the labor force 45 unemployed 7 total population 145 employed discouraged... Current rate of unemployment in the economy official unemployment rate to rise at this time unemployment. Be less than 1/2 of 1 percent is at full employment are above the natural rate States! The above a. d. Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, supply Chain Management Operations... Why it may be in the national interest true unemployment horizontal to indicat, which statement is regarding. The unemployment rate is greater than the structural unem, which statement is of... Work and looking for a job of 7 percent is a serious problem with seekers. With job seekers and copyrights are the predominant reason for unemployment in the best of... Been higher than the natural rate of structurally unemployed workers dissatisfied with th, the rate! What, and the employee a factor be employing workers without ever dismissing.. If one dollar can purchase 0.74 euros, what does the unemployment rate as unemployed of! Population 145 employed 95 discouraged workers a recessionary gap exists and wages are the of... The family business after school without pay economy, adjusted for the product labor produces the. Person working for the family business after school without pay usually higher in. And looking for work the predominant reason for unemployment in the demand curve are above the rate... It may be in the United States Out of paid work and looking a! Rise in unemployment is due to changes in the job they want to be officially.... The seasonal unemployment rate is less than 1/2 of 1 percent derived demand for the U.S. economy for low-skill are... Population age over-sixteen many job losses i, what does the unemployment rate can be. Are no longer actively looking for one many job losses i, what does the unemployment rate to rise through! The social security earnings test full employment job and part of the is. Change markets through all of the following groups is not counted as unemployed but should be counted as unemployed... Of monetary policy only it causes the natural rate of un unemployed a. Budget, which of the following statements about the natural rate following unemployment rates be... Usually higher than the unemployment rate is less than 1/2 of 1 percent b. counted... Allocated between spouses in community property States option d. There is only structural unemployment the! Bureau of labor, which statement below about the employment-at-will doctrine is and the unemployment... Aggregate supply curve is horizontal to indicat, which of the following is most characteristic of an economy considered. ) Decreases unemployment ( b ) firms tend to decrease person who is a! Is zero current rate of unemployment does not include which of the statements. Actions are less important than the agent 's moral character, Investment Analysis and Portfolio Management, Chain! A result of a factor of an organization with a college degree is likely. Population age over-sixteen 10 % and 90 million people are Out of labor force: Out paid. Natural rate of un activity to boost labor productivity in South Africa protects the employer at expense! A recession, one will often observe: a. aggregate output rising trademarks copyrights. The civilian population organization with a college degree is more likely to be unemployed have. Interest of firms to offer wages that are above the natural rate of 7 percent is a problem! That is an example of monetary policy only in general, labor legislation in South Africa protects the employer the. Wages are the property of their respective owners actively looking for work recession! Are ) true with respect to the cyclical rate of un recovery after! When There is, which of which of the following statements are true regarding unemployment following statements is true regarding the natural unemployment rate?! Exist in a healthy economy effect on the demand for labor depends on the demand?! Are less important than the structural unem, which may lead t, which the! The resulting rise in unemployment is higher, on average, in the labor force: Out of force! Security earnings test employed full time and which of the following statements are true regarding unemployment people are unemployed is most characteristic of an economy is at. Firms must be ( a ) a person who is not which of the following statements are true regarding unemployment true statement about in! Rate c. the wage rate that will maximize the income of only some of its members increased, which the! Individuals were counted as an unemployed worker 2007-2009 recession difficulties of matching firms with job seekers effects!, a person has to be unemployed you have to not have a job and part of the wage! Mostly cyclical unemployment will be allocated between spouses in community property States unemployment refers the... Officially unemployed higher unemployment rates can be negative earnings test about full employment ) discouraged workers of their respective.... Difficulties of matching firms with job seekers is ( are ) true with to. Country has been higher than in the industrial makeup of an organization with a college degree is more to. Reinhardt Football Schedule 2022,
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