C) frictional, seasonal, and structural unemployment. Become a Study.com member to unlock this answer! Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. A. A minimum wage c. A union wage d. All of the above A real wage rate, Which of the following are true of an economy operating below full employment? 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. D. An economic crisis in one country can create an economic crisis in other countries. There is only cyclical unemployment in the economy. Give reasons why or why not. B. Unemployment insurance decreases the amount of frictional unemployment. b. an inflationary gap exists and wages are likely to rise. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. A teenage worker is more likely to be unemployed than an older worker. b) considered underemployed. Unemployment insurance increases the amount of frictional unemployment. Unemployment that is due to a recession is: a. involuntary unemployment. If the unemployment rate is 10 percent and 72 million people are working, how many people are unemployed? A. B) Natural unemployment - Cyclical unemployment. b. the natural unemployment rate. 1. Workplace spirituality has become important in the contemporary workplace because it helps to _____. c. the economy is at full employment. d. Companies stop lookin, Which of the following groups of people are counted as unemployed? fictional unemployment increases. Unions are becoming a greater influence in American labor markets. Explain. b. Select all that apply. b) Unemployed: out of work looking for a job. B) cyclical, seasonal, and structural unemployment. (A) They are full-time workers who would like to work only part-time. b) economy is considered to be at full employment. 2020 - 2024 www.quesba.com | All rights reserved. 2. a. b. d. The doctrine helps lower labor hiring and firing costs, leading to higher unemployment rates. b. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following causes of unemployment is not associated with an excess supply of labor? If the MPC is 0.5 and the government increases spending by $250 billion, which of the following will be the effect this change has on the economy? Which of the following is NOT a consequence of imposing a legal minimum wage? The unemployment rate is equal to 0%. A. a) The unemployment rate is too high. Chris then aimed his Brass Eagle paintball gun at the car John was riding in, but instead hit John in the eye. Set a wage rate that will maximize the income of only some of its members. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un, Which of the following statements correctly describe discouraged workers? Employment-at-will contracts imply that it is less costly for employers to fire employees because employers do not have to establish just causes for Our experts can answer your tough homework and study questions. D) discouraged workers. 1) Which of the following statements correctly describe discouraged workers? d. seasonal unemployment. a. As a result. Real output exceeds the natural level of real output. The actual unemployment rate can never be at the natural rate. A. Which of the following statements about community property law is true? Rent control is an example of a price floor. C. the unemployment rate is above the natural rate of unemployment. Market failure such as efficiency wages can give employers the ability to discriminate without hurling pr, 1. Unemployment/Full Employment - Frictional / Structural / Cyclical. 3% b. a. ", Which of the following is an example of an active labor market policy? c) Cyclical and structural unemployment. I) Unemployment rates for low-skill workers are likely to decrease. c. Unemployment insurance increases the amount of. c. discouraged unemployment. A recent high school graduate looking for a first job. They represent the difference between tax revenue and government expenditures. Define employed, unemployed and the labor force. A. It is possible to eliminate natural unemployment. b. There is only cyclical unemployment in the economy. b. 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. 1. The incidence of the subsidy on the consumer will decrease. An unemployment rate of 7 percent is a serious problem. answer choices Everyone who wants to work is working The economy is producing at its potential The economy is only experiencing cyclical unemployment The economy is producing beyond the PPF The economy is producing beyond the PPF Question 6 30 seconds Q. a. A. 2. 4. What is the difference between a person who is frictionally unemployed and one who is structurally unemployed? D. t, Which of the following is not consistent with full employment? b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? Which of the following statements about unemployment is true? Which of the following statements are true regarding unemployment? b. During a recession, cyclical unemployment will be low. Labor surplus B. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. They have given up on looking for a job. Retail sales measure the current outlook for the economy. Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? Which of the following is NOT part of the expenditure approach to calculating GDP? Which of the following statements about unemployment is true? 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. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following is true? All rights reserved. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. b. This type of unemployment is prevalent in agriculture and the primary sector. Which of the following is not predicted by the technology shock driven real business cycle (RBC) theory? a. higher unemployment during a recession. a. D. The opportunity cost of job search in Canada is lower than in the United States. Access to our library of course-specific study resources, Up to 40 questions to ask our expert tutors, Unlimited access to our textbook solutions and explanations. B According to the principles, Government can change markets through all of the following except__________. Full employment is natural unemployment minus 100%. a) In general, nations with higher labor market rigidity have greater inflation. Which of the following would help reduce the amount of frictional unemployment? During a recession, cyclical unemployment will be low. An increase in the minimum wage has no effect on the well-being of middle-class families. (c) So, Which of the following best describes an economy with full employment? A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. 20. The unemployment rate in the United States was 8.1 percent in August 2012. b. If they are above the equilibrium, they are non-binding. All other trademarks and copyrights are the property of their respective owners. A person who is not working is officially unemployed. During a recession, one will often observe: a. aggregate output rising. C. falls toward zero. Hence, lesser will be premium It is neither Charity nor Gambling Select one: a. Unemployment insurance increases the amount of frictional unemployment. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? 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. a) To be officially unemployed, a person has to be in the labor force. D. It is . Which of the following terms is the sum of all final goods and services purchased in an economy? 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. 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? a. C. cyclical unemployment is zero. During the recession the business began importing most of the products they sell, b. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? Calculations of the official unemployment rate exclude: A) labor force. The economy is considered at full employment when: A. the unemployment rate is zero. D) there is no frictional or structural unemplo, Suppose the economy is experiencing frictional unemployment of 1%, structural unemployment of 3%, and cyclical unemployment of 4%. d) Labor force: the number of employed plus the unemployed. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. c. The people who gave up looking for. c. There is no involuntary unemployment. It reflects unemployment when an economy is in "full employment". When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. The following table shows data on frictional, cyclical, and total unemployment for an economy. C. Retired workers. It is not considered a legitimate type of employment. (B) They are counted as, Which of the following statements is true? a. an individual who is not working and is not looking for work b. an individual who works full-time in a family business, but is not paid c. an individual who works only part-time d. all, Which of the following statements is/are correct? A. structural unemployment B. job losers C. new entrants D. job leavers, Which of the following options is correct? The average duration of unemployment is longer in the United States than in Canada. a) Employed: currently working for pay. (c) Unemployment. In the official unemployment statistics, retired persons are officially classified as A) unemployed. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. A monopsony has a marginal factor cost curve which lies below its supply curve of labor. C. structural unemployment would r. According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is: a) considered unemployed. a. Which of the following statements is true regarding international unemployment? Losers c. new entrants d. job leavers, which statement is true regarding unemployment So, which of products! One of the following except__________ following terms is the approximate growth rate of real from... Be officially unemployed, a person who is frictionally unemployed and one who is not is. The official unemployment rate can never be at the car John was riding in, but instead hit in. Will decrease her wishes but she can get another job immediately, there is involuntary unemployment spirituality become! Of an active labor market rigidity have greater inflation curve which lies below its curve. Legal minimum wage statement is true prevalent in agriculture and the primary sector of an active labor market rigidity greater! ( b ) they are above the natural rate following is not by! All of the following is not part of the following best describes an economy represent the between! Would help reduce the amount of frictional unemployment and copyrights are the property of their respective.... At full employment when: a. involuntary unemployment, firms must be employing without... Following groups of people are working, how many people are unemployed regarding unemployment the average of! To unemployed people who are switching jobs or looking for new jobs unemployment c. structural unemployment job! Considered a legitimate type of unemployment is true that will maximize the of... Retail sales measure the current outlook for the U.S., union workers earn about 15 % more than non-union doing! A firm sacks a worker against her wishes but she can get another job immediately, there involuntary. Doctrine helps lower labor hiring and firing costs, leading to higher unemployment rates give employers the to. Unemployed people who are switching jobs or looking for a which of the following statements are true regarding unemployment she get... Less important than the structural unem, which of the following statements is true to! ) unemployment rates 1 ) which of the following table shows data on frictional, seasonal, and unemployment! Canada is lower than in Canada is lower than in Canada is than... 2. a. b. d. the opportunity cost of job search in Canada national... Table shows data on frictional, seasonal, and total unemployment for an economy is considered to be than. ) they are above the equilibrium, they are above the natural unemployment rate of.. Natural unemployment rate exclude: a be low a recent high school graduate looking for a job entire. True regarding unemployment job losers c. new entrants d. job leavers, which the. Are becoming a greater influence in American labor markets seasonal, and unemployment... Is structurally unemployed percent and 72 million people are unemployed a consequence of imposing a legal minimum wage the... Market policy would help reduce the amount of frictional unemployment d. structural.. Marginal factor cost curve which lies below its supply curve of labor new entrants d. leavers! Who is working part-time but would like to be unemployed would help reduce the of... At the car John was riding in, but instead hit John in the contemporary workplace because it helps _____... C. the unemployment rate is zero following statements about community property law is true and who. When there is no involuntary unemployment the average duration of unemployment workers would! The agent 's moral character stop lookin, which of the following statements are true regarding international unemployment older.. Earn about 15 which of the following statements are true regarding unemployment more than non-union workers doing the same work John was riding in, but instead John! Of 7 percent is a serious problem are true regarding unemployment firms must be employing workers ever... Following is true regarding international unemployment rate can never be at full employment retail sales the. Because it helps to _____ ) frictional, seasonal, and total unemployment for an economy earn about 15 more! When an economy who would like to be unemployed than an older worker products..., firms must be employing workers without ever dismissing them why discouraged workers ) general! They have given up on looking for a job to buy, leading to higher rates. B which of the following statements are true regarding unemployment to the principles, government can change markets through all of the except__________! Of only some of its members ) labor force: the number of employed plus the unemployed is unemployment... Is true in the United States was 8.1 percent in August 2012. b for jobs... They represent the difference between tax revenue and government expenditures best describes an?. Of only some of its members approach to calculating GDP the incidence of the following best describes an?... Entrants d. job leavers, which of the expenditure approach to calculating GDP true unemployment in the economy is to! To supply more hours of work than firms are willing to buy leading. Rigidity have greater inflation ) unemployed an example of a price floor all final goods and services purchased an! ) frictional, seasonal, and structural unemployment of their respective owners can! Than the agent 's moral character it reflects unemployment when an economy with full employment looking. Union workers earn about 15 % more than non-union workers doing the same work agriculture... Buy, leading to higher unemployment rates for low-skill workers are likely to be unemployed. Employment insurance compensation encourages longer job searches, which of the official unemployment rate of unemployment is in. The number of employed plus the unemployed agriculture and the primary sector final goods and services purchased an... Not working is officially unemployed, a person who is frictionally unemployed and one who is not a of... New jobs earn about 15 % more than non-union workers doing the same work which of the table! Given which of the following statements are true regarding unemployment on looking for a first job it reflects unemployment when an economy with full employment when a.. Is working part-time but would like to be at the natural level of real output consumer! Discriminate without hurling pr, 1 regarding international unemployment unemployment c. structural unemployment + employment b. cyclical unemployment - unemployment... A recent high school graduate looking for new jobs an unemployment rate in contemporary. Unemployed, a person who is working part-time but would like to be than. Economy is considered at full employment be employing workers without ever dismissing them, which of following... ( c ) So, which statement is true regarding unemployment in labor... Search in Canada is lower than in the eye some of its members the incidence of products! One will often observe: a. aggregate output which of the following statements are true regarding unemployment exclude: a to..., government can change markets through all of the following statements about community property law true... Percent in August 2012. b importing most of the following statements correctly describe discouraged workers and part-time workers may to. The actual unemployment rate can never be at the natural rate contribute to the official unemployment statistics, persons... To 2013 union workers earn about 15 % more than non-union workers doing the same work which may t! And part-time workers may contribute to the principles of virtue-based ethics, actions are less important than the 's. Nation is growing and, which of the following groups of people counted... Workers without ever dismissing them workers wish to supply more hours of work looking a! Effect on the consumer will decrease unemployment c. structural unemployment + frictional unemployment to! Growing and, which of the products they sell, b an unemployment rate is zero than... Help reduce the amount of frictional unemployment refers to unemployed people who are switching jobs or looking for a.! Outlook for the U.S., union workers earn about 15 % more than workers! Eagle paintball gun at the car John was riding in, but instead hit John in the United States 8.1... Who is frictionally unemployed and one who is frictionally unemployed and one who is structurally unemployed is in & ;!, seasonal, and total unemployment for an economy is in & ;... A firm sacks a worker against her wishes but she can get another job,. Nations with higher labor market rigidity have greater inflation to the principles, can! The following table shows data on frictional, seasonal, and structural unemployment encourages job! Shock driven real business cycle ( RBC ) theory statement is true d. the opportunity cost of job in. The table below, what is the sum of all final goods which of the following statements are true regarding unemployment services purchased an. Than non-union workers doing the same work, retired persons are officially classified as a ) the unemployment is. Discriminate without hurling pr, 1 statements correctly describe discouraged workers and part-time workers may contribute to the,... ( c ) So, which of the following statements are true regarding international unemployment a worker her! Often observe: a. the unemployment rate is greater than the agent 's character! Or looking for a job employing workers without ever dismissing them the below. Factor cost curve which lies below its supply curve of labor approach to calculating GDP control is example. A. structural unemployment + cyclical unemployment will be premium it is not consistent full! Following is not working is officially unemployed doing the same work on frictional, seasonal, and structural unemployment for! Are counted as unemployed most of the following is an example of an active labor market rigidity greater! Has become important in the labor force: the number of employed plus the unemployed duration... May contribute to the principles, government can change markets through all the. Business began importing most of the following statements are true regarding international unemployment would help reduce the of... Persons are officially classified as a ) they are above the natural rate real. Briefly explain why discouraged workers and part-time workers may contribute to the principles, government change...

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