C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? a. Frictional unemployment implies a lack of available jobs. 0.44 b. To be counted as unemployed, a person must be (a) without a job and part of the civilian population. Which of the following statements is true regarding international unemployment? When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. C) Most other industrialized, Suppose the world price of cotton falls substantially. This is known as __________ and will cause AD to shift to the __________. Explain each answer briefly. Who do you call unemployed? 1) Which of the following statements correctly describe discouraged workers? i) Juliet, who was fired when the company where she worked went bankrupt in a recession. c. Investment in human capital is expected to increase the demand for those, Which of the following is a result of unemployment that is very low? The actual unemployment rate can never be above the natural rate. C. rate of cyclically unemployed. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. c. They are dissatisfied with th. Economics can accurately predict what the national economy will do in six months to a year. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? There is no cyclical unemployment in the economy. Cyclical unemployment is 5% or less. B. 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? b. an inflationary gap exists and wages are likely to rise. d, Before the recession began, the U.S. unemployment rate was about 6%. C. The unemployment rate is equal to the cyclical rate of unemployment. Check all that apply. The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. C. Advoc, Which of the following do unions not cause? B. 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. d. cyclical unemployment. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. Efficiency wages C. Frictional D. Unions, Which of the following causes the unemployment rate to understate the true extent of joblessness? b. 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. c. Companies have difficulties recruiting workers. Which of the following characteristics relate to cyclical unemployment? The unemployment rate equals the nature unemployment rate b. a. A person working for the family business after school without pay. Which of the following statements is true? D) seasonal and cyclical unemployment. B. structural unemployment is zero. B. will equal structural unemployment. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. As a recession begins, firms quickly make layoffs. They are financed with tax, Which of the following is NOT true about economics? C. the unemployment rate is equal to the natural rate. The unemployment rate may overestimate the true extent of unemployment if: A. many part-time employees would like to work full-time but are unable to get the additional work. a. frictional unemployment b. the wage to rise above the equilibrium level c. conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs d. reduced wages in industrie, Which of the following statements is correct? Unemployment that is due to a recession is: a. involuntary unemployment. Employment at will is a legal term in the area of labor law. Unions are always more efficient than firms at discerning which workers are highly, Which of the following can cause the real wage rate to be set above the equilibrium full-employment level? Which of the following is not a cause of unemployment? Full employment is natural unemployment minus 100%. Frictional unemployment is 3%, cyclical unemployment is 2%, and structural unemployment is 4%. Select one: Consider a hypothetical economy in which the labor force consists of 100 people. Frictional unemployment is due to changes 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. Which of the following policies would help achieve this goal? They have given up on looking for a job. The few people who are unemployed stop looking for jobs. B. b) It occurs only during a recession. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. a) Fricti. Labor income Which statement below about the exchange rate is FALSE? The minimum wage is supported by unions. When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. A. Unemployment describes the condition where: a. equipment and machinery are going unused. b. Which of the following statements about seasonal unemployment is TRUE? c) The U.S. labor market i; Which of the following statements is true of NAFTA? Which of the following is a statement of normative economics? Mark the false statement(s). When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. Government expenditures create demand for goods and services. A. Which of the following statements about unemployment is true? Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. The actual unemployment rate can never be at the natural rate. 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. a. a. B) frictional unemployment. Choose the correct answers for the following q. Cyclical unemployment C. Structural unemployment D. Frictional unemployment, If an economy is at its natural rate of unemployment, a. only those frictionally and structurally unemployed are without a job. (d) How wages are determined in labor, Which one of the following is a normative economic statement? The labor force would decrease and the unemployment rate would remain the same. a. cyclical b. structural c. frictional d. recession-related, The natural unemployment rate equals the sum of A) cyclical and frictional unemployment. Once youWhat is the actual percent of unemployment that is considered to be full employment? of persons are insured persons- loss will be spread smoothly . If these individuals were counted as not in the labor force instead of as unemployed. See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. B. the portion of unemployment created by the job search. Cyclical unemployment arises during the depressionary and recessionary phase of the business cycle. a. reduce unemployment rates b. boost company profits c. restore a sense of community d. bring religion into business (c; moderate; pp. All rights reserved. A. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. B. c. A health care worker who, Which of the following statements correctly describes European labor markets? A. Full employment means that the transaction costs associated with getting a job are zero. Which of the following are true of state and local revenues? Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Which of the following statements correctly describe discouraged workers? c. The minimum wage reduces the number of jobs for less skilled workers. What sorts of events can knock an economy, Which of the following is a statement of positive economics? D. frictional unemployment is zero. B. equals zero. a. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. a. C) employed. The natural unemployment rate b. b.Married couples in community property states filing joint tax returns allocate their income per their state community property laws. b. Unemployment insurance decreases the amount of frictional unemployment. Which of the following statements is correct regarding involuntary unemployment? d. the unemployment rate will be zero. 1. Which of the following statements is true? C. The unemployment rate in Canada is usually higher than in the United States. a. C. The informal sector compris, Which of the following statements is false? Which of the following is true? a. (b) The laun, Which of the following statements about labor supply curves at high wages is true? Define employed, unemployed and the labor force. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? If economic policy-makers can keep the economy growing at a steady pace, they can reduce: a. cyclical unemployment. b. Many German Soviets would later return to Germany after Germany was reunited and the Soviet Union collapsed. b) A person who is not working is officially unemployed. Which of the following statements is true regarding the 5-M model? c. The natural unemployment rate is greater than the structural unem, The actual unemployment rate that prevails when cyclical unemployment is zero is called unemployment rate. -It entails processes that focus on delivering value and benefits to customers. * They are full-time workers who would like to work part-time *They are counted as part of the labor for, 91. Which one of the four statements below is not like the others? Wages drop below the level of the minimum wage. d) A person who is retired and not looking for a job is still considered unemployed. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, As the economy falls from the peak to the trough of the business cycle: a. inflationary pressures should increase as unemployment rises. Consumer prices are risi, If the United States legislated that all employers could only terminate an employee for "just cause" (and thus eliminating the doctrine of "employment at will") we would expect (over time), all things being held the same, that: a. frictional unemployment, Which of the following represents a positive economic statement? True B. South Africa's unemployment problem stems from the demand side only. If unemployment insurance was so generous that it paid unemployed workers 90% of their regular salary: A. the official unemployment rate would probably understate true unemployment. a. Frictional unemployment implies a lack of available jobs. C. cyclical unemployment is zero. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. B. Select all that apply. 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? Which of the following statements are true regardingunemployment? Someone who has lost her job in the last week. b. A. The unemployment rate is equal to the natural rate of unemployment. awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following couldcause a shift in the demand curve? Firms wish to hire fewer workers, which leads to full em, Which of the following is the correct option: The Classical economists argued that (a) a market economy will not experience unemployment. b. the natural unemployment rate. d. the natural unemployment rate. structural unemployment falls and cyclical unemployment rises by the same amount. D. t, Which of the following is not consistent with full employment? b) A person who is not working is officially unemployed. higher unemployment during a recession. The price is too. 4% c. 5% d. 7%, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. 37,194,541. b. a. marketing. 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. a) Employed: currently working for pay. (a) Slow growth. B. seasonal unemployment. 2020 - 2024 www.quesba.com | All rights reserved. The earnings test does not apply to dividends, interest, and rental income. c. The people who gave up looking for. What is the difference between being unemployed and being out of the labor force? d. People losing a job wh, Which of the following statements illustrates structural unemployment? A decrease in the market clearing wage c. Surplus labor, or unemployment, Which of the following statements correctly describes European labor markets? C. A part-time worker. Workers laid off as a result of a recession suffer A. frictional unemployment. c. If the overall unemployment rate is 7 percent, Which is part of the economic impact of employment protection laws that make it hard for firms to lay off workers? C) not in the labor force. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. Calculations of the official unemployment rate exclude: A) labor force. A. All rights reserved. What is cyclical unemployment? a. D. frictional unemployment. B. All other trademarks and copyrights are the property of their respective owners. D. cyclical unemployment is greater than, If the actual unemployment rate is less than the natural unemployment rate: a. a recessionary gap exists and wages are likely to rise. b. If a firm can sell 3,000 units of Product A at $10.00 per unit and 5,000 units at $8.00 per unit, then the price elasticity of demand is equal to: a. d. zero unemployment rates. What would happen to both unemployment and the normal rate of unemployment if: i. cyclical unemployment increases. c) The U.S. labor market i, Which of the following characteristics relate to cyclical unemployment? Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. copyright 2003-2023 Homework.Study.com. B. D. An economic crisis in one country can create an economic crisis in other countries. Chris then aimed his Brass Eagle paintball gun at the car John was riding in, but instead hit John in the eye. (Check all that apply.) The unemployment rate in the United States was 8.1 percent in August 2012. b. Labor surplus B. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? C. GDP i. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment. Which of the following statements about community property law is true? Which one of the four statements below is not like the others? A. Learn the various types of unemployment. b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? a) To be officially unemployed, a person has to be in the labor force. Which of the following policies will not reduce structural unemployment? During a recession, cyclical unemployment will be low. Our experts can answer your tough homework and study questions. Choose all that apply. A U.S. software firm discharged 15 workers last month and transferred the work, Which of the following statements (if any) correctly describe discouraged workers? Someone who has lost her job in the last week. Check all that apply. As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs.
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