Question 1

Full employment occurs when

Accepted Answer

A)  the unemployment rate is zero.
B)  the cyclical unemployment rate is zero.
C)  the frictional unemployment rate is zero.
D)  the sum of frictional and structural unemployment is zero.
E)  the structural unemployment rate is zero.F) A) and D)
G) B) and E)

Question 2

Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped.Janae's unemployment would be best classified as

Accepted Answer

A)  frictional unemployment.
B)  structural unemployment.
C)  sales-related unemployment.
D)  cyclical unemployment.
E)  natural unemployment.F) A) and E)
G) None of the above

Question 3

In the United States,from 1980 to 2011,the percentage of

Accepted Answer

A)  part-time workers who are part time for economic reasons has risen during recessions and fallen during expansions.
B)  part-time workers who are part time for economic reasons has increased significantly to over 30 percent.
C)  part-time workers who are part time for noneconomic reasons has risen during recessions and fallen during expansions.
D)  part-time workers who are part time for noneconomic reasons has increased significantly to over 30 percent.
E)  None of the above answers is correct.F) A) and B)
G) All of the above

Question 4

The labor force includes people who
I.are less than 16 years of age.
Ii.are in institutions.
Iii.are actively seeking a job but do not have a job.

Accepted Answer

A)  i only
B)  i and iii
C)  i and ii
D)  iii only
E)  i,ii,and iiiF) A) and B)
G) B) and C)

Question 5

Rob is considered unemployed in the Current Population Survey if he

Accepted Answer

A)  has looked for a job in the last four weeks but has not found a job.
B)  has worked at least 1 hour but not more than 15 hours as a paid employee during the last week.
C)  does not have a job and stopped looking for a job at least two months ago.
D)  has a part-time job but would like a full-time job.
E)  is in his last term of college before he graduates.F) C) and D)
G) A) and E)

Question 6

During a recession,cyclical unemployment ________ and real GDP ________.

Accepted Answer

A)  increases;increases
B)  increases;decreases
C)  decreases;decreases
D)  decreases;increases
E)  does not change;decreasesF) None of the above
G) A) and B)

Question 7

To be considered unemployed,a worker must have had

Accepted Answer

A)  no employment during the week before the survey and be actively looking for a job.
B)  part-time employment while actively looking for a full-time job.
C)  no employment during the week before the survey and be actively looking for a job while a student.
D)  no employment during the day before the survey and be actively looking for a job.
E)  Both answers A and B are correct.F) B) and C)
G) C) and D)

Question 8

An economic recession produces

Accepted Answer

A)  an increase in cyclical unemployment.
B)  an increase in structural unemployment.
C)  an increase in natural unemployment.
D)  a decrease in cyclical unemployment.
E)  a decrease in natural unemployment.F) C) and D)
G) A) and B)

Question 9

To be counted as employed by the BLS,in the week before the survey the person must have worked for pay

Accepted Answer

A)  at least 1 hour.
B)  at least 5 hours.
C)  more than 20 hours.
D)  40 hours.
E)  None of the above is right because the BLS counts as employed anyone who works volunteer hours at a non-profit institution.F) All of the above
G) B) and E)

Question 10

Which of the following people is frictionally unemployed?

Accepted Answer

A)  Cara,an executive who lost her job because her company could not compete with foreign competition and whose skills are not wanted by other companies
B)  Tran,a building construction supervisor who was fired because of a downturn in the building industry that is the result of a general downturn in the economy
C)  Eugene,a pharmaceutical drug salesman who was laid off when his company lost a large contract with an HMO
D)  Amanda,a sales associate at J.C.Penney who quit her job to attend school full time
E)  Samantha,who worked part-time in J.C.Penney to help with the Christmas rush but was laid off in JanuaryF) B) and E)
G) B) and D)

Question 11

Explain what type of unemployment changes with the business cycle and how it changes.

Accepted Answer

Cyclical unemployment is the unemploymen...

Question 12

Suppose that the population is 275 million.Also assume that the labor force is 135 million and that 130 million people are employed.Calculate the unemployment rate.

Accepted Answer

The unemployment rat...

Question 13

When the unemployment rate is ________ the natural unemployment rate,real GDP is ________ potential GDP.

Accepted Answer

A)  below;above
B)  above;the same as
C)  the same as;below
D)  the same as;above
E)  above;aboveF) All of the above
G) A) and B)

Question 14

If KeKe,age 32,worked 12 hours as a paid employee the week before the Current Population Survey,KeKe is classified in the Current Population Survey as ________ when calculating the unemployment rate.

Accepted Answer

A)  unemployed
B)  employed
C)  a discouraged worker
D)  not in the labor force
E)  underemployedF) D) and E)
G) A) and E)

Question 15

Mary has decided that the she does not like Iowa and has decided to quit her job as a medical technician and move to Arizona.Mary's unemployment as she searches for a new job is best classified as

Accepted Answer

A)  cyclical.
B)  distance.
C)  structural.
D)  frictional.
E)  traveling.F) A) and E)
G) A) and C)

Question 16

The number of part-time workers for economic reasons ________ during recessions and the number of part-time workers for noneconomic reasons ________ during recessions.

Accepted Answer

A)  increases;increases
B)  increases;decreases
C)  increases;does not change
D)  does not change;does not change
E)  decreases;increasesF) A) and B)
G) A) and C)

Question 17

In calculating the unemployment rate,part-time workers over the age of 16 are counted as

Accepted Answer

A)  employed.
B)  unemployed.
C)  not in the labor force.
D)  employed if they are part-time workers for noneconomic reasons and unemployed if they are involuntary part-time workers.
E)  not in the working-age population.F) B) and D)
G) A) and B)

Question 18

Full employment is the level of unemployment that occurs

Accepted Answer

A)  when everyone looking for a job has a job.
B)  when cyclical unemployment is zero.
C)  when frictional and structural unemployment are zero.
D)  when frictional,structural,and cyclical unemployment are zero.
E)  None of the above answers is correct.F) A) and B)
G) All of the above

Question 19

Over the last 50 years,how has the women's labor force participation rate changed? What are reasons for this change?

Accepted Answer

Over the past 50 years,the women's labor...

Question 20

During the recessions of 2001 and 2008-09,

Accepted Answer

A)  all measures of the unemployment rate (U-1 through U-6) increased.
B)  only the broader measures of the unemployment rate increased.
C)  only the narrower measures of the unemployment rate increased.
D)  the labor force participation rate for women increased.
E)  the labor force participation rate for men increased.F) B) and D)
G) A) and D)

Exam 15: Jobs and Unemployment

When the unemployment rate is ________ the natural unemployment rate,real GDP is ________ potential GDP.

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To be considered unemployed,a worker must have had

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The labor force includes people who I.are less than 16 years of age. Ii.are in institutions. Iii.are actively seeking a job but do not have a job.

Correct AnswerverifiedShow Answer

An economic recession produces

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Full employment occurs when

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To be counted as employed by the BLS,in the week before the survey the person must have worked for pay

Correct AnswerverifiedShow Answer

If KeKe,age 32,worked 12 hours as a paid employee the week before the Current Population Survey,KeKe is classified in the Current Population Survey as ________ when calculating the unemployment rate.

Correct AnswerverifiedShow Answer

During the recessions of 2001 and 2008-09,

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Which of the following people is frictionally unemployed?

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Rob is considered unemployed in the Current Population Survey if he

Correct AnswerverifiedShow Answer

In calculating the unemployment rate,part-time workers over the age of 16 are counted as

Correct AnswerverifiedShow Answer

During a recession,cyclical unemployment ________ and real GDP ________.

Correct AnswerverifiedShow Answer

Full employment is the level of unemployment that occurs

Correct AnswerverifiedShow Answer

Mary has decided that the she does not like Iowa and has decided to quit her job as a medical technician and move to Arizona.Mary's unemployment as she searches for a new job is best classified as

Correct AnswerverifiedShow Answer

The number of part-time workers for economic reasons ________ during recessions and the number of part-time workers for noneconomic reasons ________ during recessions.

Correct AnswerverifiedShow Answer

Explain what type of unemployment changes with the business cycle and how it changes.

Correct AnswerverifiedCyclical unemployment is the unemploymen...View AnswerShow Answer

Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped.Janae's unemployment would be best classified as

Correct AnswerverifiedShow Answer

In the United States,from 1980 to 2011,the percentage of

Correct AnswerverifiedShow Answer

Over the last 50 years,how has the women's labor force participation rate changed? What are reasons for this change?

Correct AnswerverifiedOver the past 50 years,the women's labor...View AnswerShow Answer

Suppose that the population is 275 million.Also assume that the labor force is 135 million and that 130 million people are employed.Calculate the unemployment rate.

Correct AnswerverifiedThe unemployment rat...View AnswerShow Answer

When the unemployment rate is the natural unemployment rate,real GDP is potential GDP.

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During a recession,cyclical unemployment and real GDP .

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The number of part-time workers for economic reasons during recessions and the number of part-time workers for noneconomic reasons during recessions.

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Cyclical unemployment is the unemploymen...
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Over the past 50 years,the women's labor...
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The unemployment rat...
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