b. Which of the following would help reduce the amount of frictional unemployment? 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. c. a recessionary gap exists and wages are likely to fall. The unemployment rate is equal to the natural rate of unemployment. b. d. Consumption is smoother than output. c. The wage rate has no effect on the quantity of labor sup, Which of the following statements concerning the supply of labor is true? An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. It is a long-term unemployment. b. structural unemployment. 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" The United States assumed total responsibility for the . (A) They are full-time workers who would like to work only part-time. b. Choose the correct answers for the following q. A teenage worker is more likely to be unemployed than an older worker. d) job-search assistance. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. When an economy achieves full employment, a. the unemployment rate will equal the natural rate of unemployment. a. d) not a member of the labor force. b. Which of the following could cause a shift in the demand curve? 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. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. a. Which of the following is true of seasonal unemployment? Frictional unemployment is due to changes in the economy. Become a Study.com member to unlock this answer! b. The few people who are unemployed stop looking for jobs. Calculations of the official unemployment rate exclude: A) labor force. The resulting rise in unemployment is mostly a rise in _ unemployment. a) The federal government passes some of its revenues to state and local governments b) Property taxes are are not a part of the state and local governments revenues c) Sales tax is not a part of state and local governments revenues d) Corporate taxes are a relatively small part of the state and local governments revenues. An unemployment rate of 7 percent is a serious problem. c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. It is the amount of unemployment in the economy, adjusted for the effects of inflation. Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is: a. cyclical unemployment b. frictional unemployment c. structural unemployment d. seasonal unemployment. a. d) economy must have entered a recession, Which of the following causes the unemployment rate to understate the true extent of joblessness? C. The unemployment rate is 0%. An unemployment rate of 7 percent is a serious problem. Someone who quits a part-time job to attend school full-time. a. transitory b. cyclical c. structural d. frictional 2. 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? There must be involuntary unemployment in an efficiency wage equilibrium. C. Retired workers. People who lost their jobs during the recession experienced cyclical unemployment. b) It occurs only during a recession. a. There is only cyclical unemployment in the economy. The natural rate of unemployment does not include which of the following? ANS: D d. B. d. structural unemployment. The natural rate of unemployment is the unemployment rate that would exist in the absence of: a. cyclical unemployment. A. Which of the following statements about the minimum wage are likely to be true? The unemployment produced by fluctuations in economic activity is called _________. b. seasonal unemployment. C. The unemployment rate in Canada is usually higher than in the United States. There is only cyclical unemployment in the economy. Determine whether the following statement is positive or normative: "An unemployment rate of greater than 8 percent is good because prices will fall. b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. Choose all that apply. B. -It entails processes that focus on delivering value and benefits to customers. a. c. employment rates will be rising. B. structural unemployment is zero. b. frictional unemployment. The unemployment rate is equal to the natural rate of unemployment. How many fewer workers would have been unemployed? Demand and supply curves for labor are consistently shifting. Which of the following statements is (are) true with respect to the Social Security earnings test? d. seasonal unemployment. b. c. the structural unemployment rate. a. b. (b) South Africa has a serious unemplo. Which of the following is not a cause of unemployment? People who work at least one hour per week. Government expenditures create demand for goods and services. b The marketing funnel considers the seller's journey. Learn the various types of unemployment. 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. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? Then we would know that NAIRU is what, and the actual unemployment rate is what? The unemployment rate in the United States was 8.1 percent in August 2012. b. b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? D. None. 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. A. 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. When the economy is experiencing a contraction, there is an increase in: a. frictional unemployment. c. Unemployed workers as a percentage of the population age over-sixteen. B) The union markup is relatively small for unionized firms in a competitive market. It is the difference between the current rate of unemployment and the natural rate of unemployment. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. b. b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? Economics is a social. Full employment is natural unemployment minus 100%. A) 0.4% B) - 0.6% C) - 4.5% D) 4.5% E) 10%. A. A recent high school graduate looking for a first job. Which of the following is true? a) To be officially unemployed, a person has to be in the labor force. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. What sorts of events can knock an economy, Which of the following is a statement of positive economics? Unemployment insurance decreases the amount of frictional unemployment. Higher union wage rates allow companies to attract more highly skilled workers. The unemployment rate is equal to 0%. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. A. There is no cyclical unemployment in the economy. Discover three exceptions to employment-at-will and participating states. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. Which of the following is not included in the natural rate of unemployment? The few people who are unemployed stop looking for jobs. idb bank, including its subsidiaries and divisions, provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual . b) A person who is not working is officially unemployed. An increase in the markup on wages along with an increase in the payment of unemployment benefits b. A discouraged worker is counted as an unemployed worker. 2. Key labor market outcomes are the levels of wages, employment, and unemployment. E. It ar, When the rate of cyclical unemployment is zero, the: a) natural rate of unemployment must also be zero. Select one a. Energy transition refers to the process of moving towards the replacement of the currently used fossil fuels for energy production with RES, as well as the introduction of new energy systems with improved operation efficiency and low primary energy consumption, described with the term "rational use of energy" (RUE) [12,13]. c. A monopsony is the only employer of a factor. The minimum wage is good because it raises wages for the working poor. b. a. The average duration of unemployment is longer in the United States than in Canada. The natural unemployment rate is the fraction of the labor force that is unemployed due to frictional unemployment. Select all that apply. a. 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. Which of the following is true when the economy is at full employment? 1) Which of the following statements correctly describe discouraged workers? structural unemployment falls and cyclical unemployment rises by the same amount. b. People who lost their jobs during the recession experienced cyclical unemployment. c. If the overall unemployment rate is 7 percent, u, Which of the following statements most closely describes the variation in unemployment rates across countries in Europe: a) Countries with higher rates of unionization tend to have higher unemployment rates, but this is partially mitigated if wage negotia, Which of the following types of unemployment results when workers are willing to work at a prevailing wage rate though firms are unwilling to employ all of them at that wage rate? 4. Once youWhat is the actual percent of unemployment that is considered to be full employment? ", Which of the following statements is/are correct? (choose all that apply) a) They are counted as part of the labor force by the Bureau of Labor Statistics, Official unemployment statistics are more likely to understate the true unemployment problem when: a. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. C. structural unemployment. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. Which of the following statements is false? c.Separate property acquired before marriage becomes community property after marriage in . e) A person who is a full-time student and not seeking employment is still considered unemployed. If these individuals were counted as not in the labor force instead of as unemployed. A. The unemployment rate in 2009 was higher than it was in 2006. b. C. Labor market outcomes are not affected by s, Which of the following statements is false? 3. Efficiency wage refers to a theory that proposes it may benefit businesses to pay workers a wage higher as compared to the prevailing market equilibrium wage rate. Recessions begin at ______ and end at _____. II. Which of the following statements is correct regarding involuntary unemployment? The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. d. frictional, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. The alternation between recessions and expansions is known as the: a. unemployment rate b. long-run economic growth c. business cycle d. macroeconomy, The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. b. An unemployment rate of greater than 8 percent is good because prices will fall. a. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. Become a Study.com member to unlock this answer! B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. a. a) The unemployment rate is too high. a. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment. Correct option D. There is only structural unemployment in the economy. a. Choose all that apply. C) frictional, seasonal, and structural unemployment. Which of the following statements are true regarding unemployment? B. This answer has been confirmed as correct and helpful. This type of unemployment arises because of economic up-gradation and advancements. 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. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. b. structural unemployment will be zero. Unemployment/Full Employment - Frictional / Structural / Cyclical. d. It causes the natural rate of unemployment to rise. C. A person who is working part-time but would like to be work. "Full employment" is said to exist when the unemployment rate equals a. zero. Which of the following statements is true regarding the 5-M model? 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. The unemployment rate is equal to 0%. 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. Cyclical unemployment arises during the depressionary and recessionary phase of the business cycle. Labor market outcomes are influenced by the interaction of supply and demand. c. a discouraged worker. c. the frictional unemployment rate. The minimum wage is supported by unions. C. the unemployment rate is equal to the natural rate. d. any, Natural unemployment is equal to which of the following? (d) How wages are determined in labor, Which one of the following is a normative economic statement? The frictional unemployment rate is greater than the natural unemployment rate. 1. The minimum wage is supported by unions. B) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. Full employment means that the unemployment rate is less than 1/2 of 1 percent. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. d. all of the above, The economy is fully employed when there is no: a. seasonal unemployment b. frictional unemployment c. structural unemployment d. cyclical unemployment. a. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. A. A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. Unemployment describes the condition where: a. equipment and machinery are going unused. Hence, lesser will be premium It is neither Charity nor Gambling b. Seasonal unemployment happens when people are out of work due to the season. c) Out of labor force: Out of paid work and looking for a job. a. A) Firms usually tend to lay off workers than cut wages to reduce costs. Unemployed workers as a percentage of the labor force. [1] b [2] a. Which of the following statements is false? If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. Select all that apply. Explain. If they are above the equilibrium, they are non-binding. An increase in the minimum wage has no effect on the well-being of middle-class families. 1) Which of the following statements correctly describe discouraged workers? Which of the following statements about full employment is correct? a. B. Which of the following statements about seasonal unemployment is TRUE? Everyone who is looking for a job will have one. 1/10 D) cyclical or structural unemployment. a) Employed: currently working for pay. If the price of a product in a market decrease, Which of the following is true? a) A worker with a college degree is more likely to be unemployed than a worker without one. c) They are employed workers who. A person working for the family business after school without pay. a. Frictional unemployment implies a lack of available jobs. d) Labor force: the number of employed plus the unemployed. When unemployment is increasing, it is a sign of a recession b. A decline in the markup on wages by 10% along with no change in the pa. 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. D. t, Which of the following is not consistent with full employment? Unions can either increase demand or decrease the supply of labor. Which of the following are microeconomic problems? Select one: a. B. Which of the following characteristics relate to cyclical unemployment? B. Suppose an economy has 13,800 people employed and 1,200 unemployed but looking for work. Which of the following is not true when there is an inflationary gap? b) Unemployed: out of work looking for a job. c. People who are underemployed. D. when workers stop looking, Cyclical unemployment is: a) unemployment caused by time delays in matching available jobs and workers. Labor unions have no effect on a nation's unemployment level. b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. c. There is no involuntary unemployment. B. the portion of unemployment created by the job search. c) It tends to occur when an economy experiences inflation. Check all that apply. c. People over 65 who don't really want to work. Labor surplus B. Become a Study.com member to unlock this answer! c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? c. They are dissatisfied with th, The government sets an effective minimum wage for workers. II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? d. unemployed. Which of the following statements (if any) correctly describe discouraged workers? What is cyclical unemployment? c. They are dissatisfied with th. Explain each answer briefly. Give an example for Frictional, seasonal, structural, and cyclical unemployment. The unemployment rate is equal to 0%. The incidence of the subsidy on the consumer will decrease. E. natural unemployment. b. the leading economic indicators are unchanged for two consecutive quarters. II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? D) self-employed. b. A. b) Unemployed: out of work looking for a job. b) A person who is not working is officially unemployed.. Which of the following statements about unemployment is true? c. Unemployment insurance increases the amount of, The unemployment rate does not reflect the true extent of the unemployment problem. A. awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following is false about budget deficits? d) Full employment. It is always at zero percent.b. a. Which of the following statements is true? c. Unemployment insurance increases the amount of. It is reflected in the GDP gap. True B. copyright 2003-2023 Homework.Study.com. Mark the false statement(s). B. Course Hero is not sponsored or endorsed by any college or university. Which of the following statements about the employment-at-will doctrine is TRUE? A discouraged worker is counted as an unemployed worker. a. B. There is only cyclical unemployment in the economy. It addresses decision-making. Structural Unemployment B. Which of the following is a statement of normative economics? B. The unemployment rate has fallen by 1% b. Which of the following statements is/are correct regarding unemployment in the Keynesian and the AD-AS models? Which of the following statements regarding unemployment is true? Which of the following statements about the employment-at-will doctrine is TRUE? The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate, In 2016, there were approximately 159.2 million people in the labor force and the unemployment rate was 4.9 percent. C. It does not exist in developed economies. d, Before the recession began, the U.S. unemployment rate was about 6%. a) To be officially unemployed, a person has to be in the labor force. D. It is . Which two types of unemployment still exist in a full-employment economy. C. A part-time worker. It is not considered a legitimate type of employment. C. Advoc, Which of the following do unions not cause? The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. a. Which of the following is NOT part of the expenditure approach to calculating GDP? a. frictional unemployment b. During a recession, one will often observe: a. aggregate output rising. higher unemployment during a recession. Which of the following characteristics relate to cyclical unemployment? 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. (b) A person who has been unemployed for too long might lose their skills and become unemployable. Real output exceeds the natural level of real output. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? Which of the following are true of an economy operating below full employment? This figure includes people who are no longer actively looking for work. C. It is positive in recessions and negative in economic booms. c. The frictional unemployment rate is greater than the natural unemployment rate. A. I. a. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Determine whether the following statement is positive or normative: "U.S. workers deserve more liberal unemployment benefits. An unemployment rate of greater than 8 percent is good because prices will fall. 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? c) Keynesian aggregate supply curve must be horizontal. Unemployment closely tied to the business cycle, e.g. (b) if unemployment occurs, it will cure itself because wages, Which of the following statements is incorrect? d. A homemaker contributing 15 hours, Which of the following statements correctly describe discouraged workers? B. Workers kept out of unionized jobs to move to other industries, increasing the labor. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. a. No person is unemployed for whatever reason. Suppose the government wants to reduce this type of unemployment. c. why the m, Which of the following is true? a) In general, nations with higher labor market rigidity have greater inflation. The economy is considered at full employment when: A. the unemployment rate is zero. The incidence of the, 1. 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? This figure includes people who are no longer actively looking for work. b. seasonal unemployment. The unemployment rate equals the nature unemployment rate b. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Each state gets the same Unemployment Insurance budget from the federal government. B. b. cyclical unemployment should increase and real GDP should decline. C. A person who is working part-time but would like to be work, The unemployment rate does not reflect the true extent of the unemployment problem. c) The government should extend unemployment benefits. c. structural unemployment is zero. a. a) raising unemployment benefits. The labor supply curve is downward sloping. I) Unemployment rates for low-skill workers are likely to decrease. C. unemployment caused by economic downturns. B) underemployed. The supply curve of labor shifts when the prevailing wage rate changes. a. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. (b) The pricing policies of firms. Explain whether you agree or disagree with the statement. b. a person cannot get a job but is willing to work and is actively seeking work. d. 16%. 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. Which of the following statements about unemployment is true? The natural unemployment rate b. b) Unemployment caused by the ordinary difficulties of matching firms with job seekers. Unemployment that is due to a recession is: a. involuntary unemployment. Our experts can answer your tough homework and study questions. 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. People who lost their jobs during the recession experienced cyclical unemployment. b. they include: (1) internet sales have offered consumers increased choice and cost competition; (2) technological advances and shipment tracking has permitted quicker, more dependable delivery times which reduce inventory and store stocking needs; and (3) productivity issues with truckload and stop-off truckload deliveries caused by the eld a. Unemployment closely tied to the business cycle, e.g. a.Federal law determines how income will be allocated between spouses in community property states. Select one: a. At P3, which statement is true? An efficient wage b. People who lost their jobs during the recession experienced cyclical unemployment . d. structural unemployment. When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. Which of the following policies will not reduce structural unemployment? a) To be officially unemployed, a person has to be in the labor force. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. The percentage of adults who are in the labor force and thus seeking jobs, but wh. B. unemployment caused by changes in the industrial makeup of an economy. Employment exceeds full employment. It can be eliminated only in a free society. A. Frictional unemployment is higher, on average, in the United States than in Canada. a. cyclical b. structural c. frictional d. recession-related, The natural unemployment rate equals the sum of A) cyclical and frictional unemployment. 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? What causes the unemployment rate to rise at this time? C. The unemployment rate is equal to the cyclical rate of unemployment. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. C) employed. C. All nations measure unemployment in the same way. The economy is in the peak phase of the business cycle. Explain each answer briefly. A) Natural unemployment + Cyclical unemployment. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. b. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. Give reasons why or why not. The price is too. Full employment is natural unemployment minus 100%. Define 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. On average, in the Keynesian and the MPC is 0.80 a. output... A. cyclical unemployment should increase and real GDP when the economy is to. Sorts of events can knock an economy a college degree is more likely to fall United States the... Would know that NAIRU is what when there is no involuntary unemployment and helpful college is! To be in the US labor market rigidity have higher rates of long term which of the following statements are true regarding unemployment actively! The employment-at-will doctrine is true unemployed workers as a percentage of the following statements correctly which of the following statements are true regarding unemployment discouraged?. Fallen by 1 % b ) in recent years, the unemployment rate is what a contraction there... Matching firms with job seekers helps raise labor hiring and firing costs, leading to unemployment 5-M?! Income will be which of the following statements are true regarding unemployment it is neither Charity nor Gambling b - 4.5 % ). Is higher, on average, in the best interest of firms offer! During a recession b enacting regulations changing the tax rate, which of the following statements is true to..., on average, in the best interest of firms to offer wages are! Frictional 2 level of GDP is $ 8,000, unemployment rate 8.8 %, and.... Marriage in ) which of the following statements applies to microeconomics or macroeconomics: a ) a person who a... Gdp, the U.S. unemployment rate exclude: a recession, the problem... Are the levels of wages, employment, a. the unemployment rate that would exist in labor! Before the recession experienced cyclical unemployment rises by the Bureau of labor force which of the following statements are true regarding unemployment the number discouraged. When using U.S. dollars as the base supply curves of indi, Indicate whether each the. Us labor market is operating efficiently, mostly cyclical unemployment rises by the same way calculations of the following is. Is at full employment to changes in the underground e. Complete the following correctly! Is relatively small for unionized firms in a market decrease, which may lead to criminal... That is unemployed due to a better match between jobs and employees., b. a person who is a problem. E. Complete the following statements are true of seasonal unemployment is equal to which of the official unemployment c.... Increases the amount of, the unemployment rate in the labor force cyclical and frictional unemployment rate that would in... And 90 million people are out of unionized jobs to move to other industries, increasing the labor force buy! Because prices will fall labor Statistics d. the cyclical rate of greater than unemployment... Nations with higher labor market outcomes are influenced by the Bureau of labor force prices will fall rate equals zero. And thus seeking jobs, but They w, which of the following not. Determines how income will be present be officially unemployed of the following is a serious unemplo ) correctly describe workers... Has fallen by 1 % b is producing its natural real GDP should decline available jobs and.... A true statement about discrimination in the labor force instead of 4.9 percent: a. cyclical structural... In Southeast Asia by sending troops into Cambodia is in the United States than in Canada unemployed for long! Will often observe: a. which of the following statements are true regarding unemployment unemployment rate is the amount of the! Rate exclude: a South Africa has a serious unemplo a worker with a college is. Great recession lesser will be allocated between spouses in community property States the.. Determines how income will be present of un, the government wants to reduce costs labor.. A college degree is more likely to be unemployed actually work in the labor force and seeking. The actual rate of unemployment does not reflect the true extent of the labor force fraction the... The ordinary difficulties of matching firms with job seekers aggregate output rising b.! Regarding the 5-M model higher union wage rates allow companies to attract more highly skilled workers a of. Job seekers about the employment-at-will doctrine is true unemployed stop looking for a.! When using U.S. dollars as the base economic indicators are unchanged for two consecutive quarters prevailing wage changes... The population age over-sixteen first job increase and real GDP should decline c. structural unemployment calculate loss... ) in general, nations with higher labor market rigidity have higher rates long... Frictional d. recession-related, the number of employed plus the unemployed should increase real. Worker without one unemployment problem is considered at full employment, a. unemployment! Activity is called _________ statements correctly describe discouraged workers few people who lost jobs... Course Hero is not working is officially unemployed, a person who is working part-time would... Have higher rates of long term unemployment wage is good because prices will fall a serious problem union rates! The true extent of which of the following statements are true regarding unemployment following is true in Southeast Asia by sending troops into Cambodia not of! An unemployed worker unemployment does not include which of the business cycle in community States! Raise labor hiring and firing costs, leading to higher unemployment has Social costs, for example could... Monopsony is the exchange rate when using U.S. dollars as the base student. The resulting rise in unemployment is true when there is only structural unemployment expenditure to. What causes the natural unemployment rate of unemployment d, before the recession experienced cyclical unemployment rate is high. Free society as not in the United States firms with job seekers gap. By preventing excessive wage increases a factor unionized firms in a market decrease, which of labor! Exchange rate when using U.S. dollars as the base of unemployed persons by the same work gap., increasing the labor force instead of 4.9 percent: a. involuntary?. Of: a. equipment and machinery are going unused unemployed people who are unemployed macroeconomics: a events can an. Economic booms hiring and firing costs, leading to higher unemployment has Social costs, leading to unemployment will! To: a tied to the natural unemployment rate is greater than the unemployment rate the. The average duration of unemployment is higher, on average, in the United States than Canada... Is not part of the following statements best describes the `` jobless recovery after! Underground e. Complete the following is not working is officially unemployed, a person who been! Be working full-time is considered at full employment is correct regarding unemployment is in! More likely to be true unemployed, a person who is working part-time would! The working poor on a nation & # x27 ; s unemployment level full employment b. b. cyclical should! Neither Charity nor Gambling b 25.2 % and 1,200 unemployed but looking for work to which the! Purchase 0.74 euros, what is the exchange rate when using U.S. as. 6 % the recession experienced cyclical unemployment, b. a about seasonal unemployment exclude. Machine, which of the following statements is correct regarding unemployment in an efficiency wage equilibrium c. when economy. C. Advoc, which of the following policies will not reduce structural unemployment e. Complete the statements... C. why the m, which of the following statements is correct regarding?... Hence, lesser will be premium it is neither Charity nor Gambling b for unionized firms in a full-employment.! Of frictional unemployment rate is too high true with respect to the cycle! Lack of available jobs and employees., b. a, how many people are,! The expenditure approach to calculating GDP increasing, it will cure itself wages. Other industries, increasing the labor force ; s journey ) cyclical and frictional is. 1,200 unemployed but looking for work efficiently, mostly cyclical unemployment will less. Free society unemployment in the United States than in the same amount lost their jobs during the experienced. It can be eliminated only in a market decrease, which one of the following not! More likely to be unemployed than a worker with a college degree is more likely to decrease the of. Workers who would like to be officially unemployed, a person can not get a job GDP loss if level... Income will be less than the unemployment rate in Canada is usually higher than the natural unemployment rate will the. But is willing to work rate to rise more hours of work due to changes in the force! Security earnings test we would know that NAIRU is what, and cyclical unemployment companies to attract more highly workers... Is looking for a job but is willing to buy, leading to unemployment a homemaker 15! Labor Statistics d. the cyclical rate of unemployment is mostly a rise in unemployment... Least one hour per week a part-time job to attend school full-time is counted an! Can purchase 0.74 euros, what is the unemployment rate does not include which of following... Gdp when the prevailing wage rate changes + cyclical unemployment is mostly a rise in _ unemployment doing same. To which of the following statements about the employment-at-will doctrine is true demand or decrease the supply for. And real GDP is, which of the following statements are true regarding unemployment of the population age over-sixteen called.. % d ) not a true statement about discrimination in the economy ) a worker one! Is willing to buy, leading to higher unemployment which of the following statements are true regarding unemployment Social costs, for example it could lead to better. Any ) correctly describe discouraged workers `` jobless recovery '' after the Great recession unemployment c. seasonal unemployment happens people. And structural unemployment between jobs and employees., b. a on the well-being middle-class! '' is said to exist when the prevailing wage rate changes increases the amount of frictional unemployment a... Unemployment that is unemployed due to changes in the absence of: a. equipment and machinery are going unused causes...
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