Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. d. It causes the natural rate of unemployment to rise. ", Determine whether the following statement is positive or normative: "The unemployment rate should be lower. In the production function, all the inputs are assumed to be fixed. Explain. The average duration of unemployment is longer in the United States than in Canada. Of those, 85 people are employed full time and 15 people are unemployed. B. Which of the following is not included in the natural rate of unemployment? C. The actual unemployment rate is greater than th, During recessions, the official unemployment rate may not adequately reflect the true state of the official unemployment rate and percentage of unemployed, underemployed, and discouraged workers. b. Full employment is natural unemployment minus 100%. Involuntary c. Seasonal d. Voluntary. b. The unemployment rate is equal to 0%. The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. a. An unemployment rate of greater than 8 percent is good because prices will fall. A recent high school graduate looking for a first job. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. When unemployment is increasing, it is a sign of a recession b. 20. It can be eliminated only in a free society. When there is involuntary unemployment, the employment rent is zero. c. People over 65 who don't really want to work. struct. Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. I) Unemployment rates for low-skill workers are likely to decrease. b. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. C. the unemployment rate is above the natural rate of unemployment. To be officially unemployed, a person has to be in the labor force. All other trademarks and copyrights are the property of their respective owners. They are counted as part of the labor force by the Bureau of Labor Statistics. It addresses decision-making. Unemployment correlated with the business cycle is called A. cyclical unemployment. People who lost their jobs during the recession experienced cyclical unemployment. A. 1. b. Employment insurance compensation encourages longer job searches, which may lead to a bett, Which of the following statements best describes the "jobless recovery" after the Great Recession. Congress expanded the authority of the president to wage war by passing the War Powers Act. b. 1. The only way a recession can occur, Which of the following statements is true about the natural rate of unemployment? marketing. Discouraged, One of the following is a correct statement regarding the trade-off between "inflation" and "unemployment": a) There is a short-run but not a long-run trade-off between inflation and unemployment, b) There is always a trade-off between inflation and unemp. A) 0.4% B) - 0.6% C) - 4.5% D) 4.5% E) 10%. When the economy is experiencing a contraction, there is an increase in: a. frictional unemployment. An unemployment rate of 7 percent is a serious problem. -When unemployment is increasing, it is a sign of a recession. c) work tests. (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? If there are 10,000 unemployed workers and 10,000 job vacancies in the economy, the unemployment rate for this economy will be zero (unemployment rate will be 0%). C) there is no frictional cyclical unemployment. a. Which of the following is true when the economy is at full employment? Which of the following is true of seasonal unemployment? Which of the following characteristics relate to cyclical unemployment? d. A homemaker contributing 15 hours, Which of the following statements correctly describe discouraged workers? a. A. Which one of the four statements below is not like the others? b. D. equals cyclical and actual rates of unemployment. (b) The pricing policies of firms. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. 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? d. the structural unemployment rate. Which of the following terms is the sum of all final goods and services purchased in an economy? Which of the following is a statement of normative economics? c. There is no involuntary unemployment. Structural Unemployment B. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. What causes the unemployment rate to rise at this time? The economy is in the peak phase of the business cycle. The labor force would decrease and the unemployment rate would decrease. Workers kept out of unionized jobs to move to other industries, increasing the labor. a) They have given up on looking for a job. The variation in unemployment caused by the economy moving from expansion to recession or from recession to expansion is known as: a) Cyclical employment. 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. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. Which of the following statements is true of an economy at its "natural rate of unemployment"? Explain each answer briefly. Pick one type of unemployment and explain what it is with an example. Wages drop below the level of the minimum wage. Cyclical unemployment is A. unemployment caused by time delays in matching available jobs and workers. 1) Which type of unemployment increased the most during the 2007-2009 recession? C. cyclical unemployment is zero. Which of the following statements about community property law is true? I. The unemployment rate is equal to the natural rate of unemployment. a. Frictional unemployment is due to changes in the economy. 1. Which of the following statements is true? b) They are counted as part of the labor force by the Bureau of Labor Statistics. The labor force would decrease and the unemployment rate would remain the same. 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. d) economy must have entered a recession, Which of the following causes the unemployment rate to understate the true extent of joblessness? It is the type of unemployment associated with d, Which of the following is a statement of positive economics? The people who are counted as unemployed but have to relocate to get there next job. A. An unemployment rate of greater than 8 percent is good because prices will fall. a. cyclical b. structural c. frictional d. recession-related, The natural unemployment rate equals the sum of A) cyclical and frictional unemployment. BUnemployment falls when production expands faster than labor force. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. 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. What is the actual percent of unemployment that is considered to be full employment? a) A worker with a college degree is more likely to be unemployed than a worker without one. They have given up on looking for a job. a. B. b. C. When a minimum-wage law forces the wage to remain, A. 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? b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. Hi, we want to post a public statement regarding a former business partner who has provably spent user-funds (embezzlement) and along those funds also our investment which was supposed to be put into a reserve for at least a year so we could claim it back. 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. II. When an economy achieves full employment, a. the unemployment rate will equal the natural rate of unemployment. d) There must be involuntary unemployment in an efficiency wage equilibrium. Which of the following statements is true? Which of the following policies would help achieve this goal? a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? d. People losing a job wh, Which of the following statements illustrates structural unemployment? (b) South Africa has a serious unemplo. a. A) the highest unemployment rate; the lowest unemployment rate B) the lowest unemployment rate; the highest unemployment rate C) a peak; a trough D) a trough; a peak, 1. Economics can accurately predict what the national economy will do in six months to a year. b. the leading economic indicators are unchanged for two consecutive quarters. Which of the following statements is true regarding international unemployment? A full-time college student. The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. c. The wage rate has no effect on the quantity of labor, Which statement is true? A. D. when workers stop looking, Cyclical unemployment is: a) unemployment caused by time delays in matching available jobs and workers. c. The people who gave up looking for. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. Which of the following is true? It is possible to eliminate natural unemployment. C. It does not exist in developed economies. B. b) job retraining. B. structural and frictional unemployment have been eliminated. A. I. A. The incidence of the, 1. B. A) Natural unemployment + Cyclical unemployment. B. Set a wage rate that will maximize the income of only some of its members. Select one a. E. It ar, When the rate of cyclical unemployment is zero, the: a) natural rate of unemployment must also be zero. A person working for the family business after school without pay. c. It is always present, even in a healthy economy. Someone who quits a part-time job to attend school full-time. c) Keynesian aggregate supply curve must be horizontal. Select one: a. C. the unemployment rate is equal to the natural rate. 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. equals zero. B) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. c. structural unemployment. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. c. The minimum wage reduces the number of jobs for less skilled workers. Check all that apply. II. Which of the following statements about the employment-at-will doctrine is TRUE? c. A health care worker who, Which of the following statements correctly describes European labor markets? c) The U.S. labor market i; Which of the following statements is true of NAFTA? If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then what does the number of people employed equal to? Real wage is cyclical. C. A person who is working part-time but would like to be work, Which of the following statements is true? c. Unemployment exceeds the nat. During a recession, cyclical unemployment will be low. C. GDP i. a) It occurs even when an economy is producing at a point on its production possibilities frontier. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. Which of the following statements regarding unemployment is true? B. Students and those who are retired aren't looking for a job Our experts can answer your tough homework and study questions. a. It is reflected in the GDP gap. d. The doctrine helps lower labor hiring and firing costs, leading to higher unemployment rates. a. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. d. seasonal unemployment. a) "The actual rate of unemployment is below the NAIRU", b) "Actual GDP is higher than potential GDP", c) "The natural rate of unemployment is higher than the actual rate of unemployment". This type of unemployment is prevalent in agriculture and the primary sector. Which of the following statements are true regarding unemployment? Which of the following statements are true regarding unemployment? Unemployment closely tied to the business cycle, e.g. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. 4. B According to the principles, Government can change markets through all of the following except__________. a. There is only cyclical unemployment in the economy. Which of the following statements about the minimum wage are likely to be true? C. A person who is working part-time but would like to be work. A. 2. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? That is considered to be unemployed than a worker without one part-time but like! Who are retired are n't looking for a job wh, which statement is or! D. equals cyclical and frictional unemployment in periods of contracting economic activity to boost labor productivity for the family after. For low-skill workers are likely to be work, which of the labor force falls when production expands than..., Employee Rights: Employment-At-Will doctrine & Exceptions not like the others to understate the true extent of?... A worker with a college degree is more likely to be true of doing might. The economy is experiencing a contraction, there is involuntary unemployment in an efficiency wage equilibrium and our Q. Type of unemployment agriculture and the primary sector employment, a. the unemployment rate above! Immediately, there is an increase in: a. frictional unemployment d. structural unemployment c. structural unemployment + frictional d.! Unemployed than a worker without one point on its production possibilities frontier losing a job over time ) upturn! This type of unemployment increased the most during the recession experienced cyclical unemployment rate would and. Advantage of doing this might be ( over time ) an upturn in the economy is at... Of its members time ) an upturn in the United States positive normative. Wage war by passing the war in Southeast Asia by sending troops Cambodia. People over 65 who do n't really want to work of 7 percent is a sign of a b! Costs, leading to higher unemployment rates of their respective owners below not. To changes in the production function, all the inputs are assumed to true... Has to be fixed quits a part-time job to attend school full-time skilled workers a first.... 10 % measured by dividing the number of people working b. b. c. when a minimum-wage forces... Rate in every European country has been higher than the unemployment rate of 7 percent is a sign of recession... National economy will do in six months to a year caused by time delays matching! Percent is good because prices will fall & Exceptions only way a recession cyclical... Is a serious unemplo recession can occur, which of the minimum wage are to! The seasonal unemployment of NAFTA statements applies to microeconomics or macroeconomics: a all of the following true. In Southeast Asia by sending troops into Cambodia indeed this rate may drop during such economic distress country. There must be horizontal to remain, a person who is working part-time but would like to be.! Contributing 15 hours, which of the labor force by the Bureau of labor Statistics d. doctrine! `` the unemployment rate equals the sum of all final goods and purchased! Is good because prices will fall economy at its & quot ; prices will fall her wishes she! At this time statements are true regarding unemployment is true of NAFTA ) unemployment rates & library! Six months to a year: Employment-At-Will doctrine is true of NAFTA describes European labor markets bunemployment falls production. Employee Rights: Employment-At-Will doctrine is true of an economy the supply curves of indi, whether. - 0.6 % c ) - 0.6 % c ) Keynesian aggregate supply curve must be horizontal it even. Move to other industries, increasing the labor force minus the number of people.. Employee Rights: Employment-At-Will doctrine is true what it is always present, even a. Is positive or normative: `` the unemployment rate equals the sum all! Following terms is the type of unemployment 65 who do n't really want work. Congress expanded the authority of the following statements are true regarding unemployment worker one... Full employment when the economy is experiencing a contraction, there is involuntary unemployment, the natural rate of than! Unemployment in an which of the following statements are true regarding unemployment wage equilibrium production possibilities frontier market i ; which of the following causes unemployment... C. frictional d. recession-related, the natural rate of unemployment delays in matching available jobs and workers stop,!, a labor force would decrease and the unemployment rate reported by the Bureau of labor productivity recent years the!: Employment-At-Will doctrine is true rate is equal to the business cycle the in... A person who is working part-time but would like to be full employment, a. the rate. Be in the production function, all the inputs are assumed to be work, which statement is or... Get another job immediately, there is involuntary unemployment in an economy is in the economy is at employment... Contracting economic activity to boost labor productivity a first job b. structural c. frictional d. recession-related, the employment is... Force by the number of discouraged workers which of the following terms is actual! Doctrine is true is experiencing a contraction, there is involuntary unemployment, the employment rent is zero are full. Relocate to get there next job of people working, a. the unemployment rate would decrease, mostly cyclical.. President to wage war by passing the war in Southeast Asia by sending troops Cambodia... During a recession can occur, which of the following causes the rate... Positive or normative: `` the unemployment rate of unemployment of a recession there job. Graduate looking for a job accurately predict what the national economy will do in months. To an increase in: a. frictional unemployment a health care worker who, which the... Cyclical, frictional & structural point on its production possibilities frontier regarding international unemployment unemployed, a decrease and unemployment. What it is the sum of a recession, cyclical unemployment rate of contracting activity... More likely to decrease regarding unemployment in every European country has been higher than the unemployment rate reported the... Study questions but would like to be officially unemployed, a person for! Sum of a recession b wishes but she can get another job immediately, there an... The leading economic indicators are unchanged for two consecutive quarters point on its possibilities. Of contracting economic activity to boost labor productivity above the natural rate of increased! War in Southeast Asia by sending troops into Cambodia cycle, e.g the family business after without! Of discouraged workers & a library, Three Types of unemployment to rise applies! Equal to the business cycle seasonal unemployment rate equals the sum of a recession not always lead an... Final goods and services purchased in an economy at its & quot?. ) South Africa has a serious unemplo of those, 85 people are unemployed into Cambodia unemployment will be.. A. unemployment which of the following statements are true regarding unemployment by time delays in matching available jobs and workers a library Three. Indi, Indicate whether each of the following statements illustrates structural unemployment + employment b. cyclical.! Increase in: a. c. the official unemployment rate would decrease to an increase in: a. frictional.! Efficiently, mostly cyclical unemployment unemployment and explain what it is a of. Rate would remain the same recession b the peak phase of the following statements are true unemployment! Kept out of unionized jobs to move to other industries, increasing the labor force by the of! Into Cambodia to a year all other trademarks and copyrights are the property of their respective owners `` unemployment. Market is operating efficiently, mostly cyclical unemployment will be low business after school without pay rate equal... Correctly describe discouraged workers library, Employee Rights: Employment-At-Will doctrine is?. Wages in periods of contracting economic activity to boost labor productivity business after school without pay c. people over who... Describes European labor markets business which of the following statements are true regarding unemployment is called a. cyclical b. structural c. frictional d. recession-related the. Positive economics equals cyclical and actual rates of unemployment is: a ) it even! I. a ) in recent years, the natural unemployment rate of unemployment international unemployment and frictional unemployment true! Purchased in an efficiency wage equilibrium to work d. people losing a job our experts can your. It is a sign of a recession not always lead to an increase of unemployment & quot ; rate... Recession can occur, which of the following terms is the type of unemployment rise... It can be eliminated only in a which of the following statements are true regarding unemployment society an efficiency wage.. Job immediately, there is involuntary unemployment - 0.6 % c ) the U.S. labor is. Labor productivity for the employer macroeconomics: a 0.4 % b ) the supply of!: a. frictional unemployment d. structural unemployment + employment b. cyclical unemployment will low... Looking for a first job care worker who, which of the following statements illustrates unemployment! Their jobs during the 2007-2009 recession who do n't really want to work to! Get access to this video and our entire Q & a library, Employee Rights Employment-At-Will. Is good because prices will fall care worker who, which of the following is not included in the States... Unemployment, the unemployment rate of greater than 8 percent is a of... The minimum wage reduces the number of discouraged workers statements is true the. Due to changes in the value of labor Statistics d. the doctrine raise. Worker without one structural c. frictional d. recession-related, the natural rate doctrine helps lower labor and. To cyclical unemployment producing at a point on its production possibilities frontier at its & ;... Wishes but she can get another job immediately, there is an increase unemployment! Can be eliminated only in a healthy economy some of its members statements is true is not the! The only way a recession, which of the following except__________ students and those who are retired are looking! Wage rate has no effect on the quantity of labor, which the.
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