-4%. 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) job retraining. a. Which of the following could cause a shift in the demand curve? d) job-search assistance. This is known as __________ and will cause AD to shift to the __________. Workplace spirituality has become important in the contemporary workplace because it helps to _____. The unemployment rate is equal to the natural rate of unemployment. c) Unemployment c, Which of the following statements about the minimum wage is correct? Productivity is pro-cyclical. Full employment is natural unemployment minus 100%. Does cyclical unemployment exist when the economy is at its potential level of output? )contractionary monetary policy; left b.)contractionary. b. Which of the following is true? 1. Createyouraccount. Which of the following statements is incorrect? 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? It is possible to eliminate natural unemployment. d) There must be involuntary unemployment in an efficiency wage equilibrium. C. A person who is working part-time but would like to be work. According to the strict definition of unemployment, a person who did not actively seek, Determine whether the following statement is positive or normative: "We should stop paying unemployment insurance so the unemployment rate will be even lower. Many women quit their jobs to raise their kids. Hence, lesser will be premium It is neither Charity nor Gambling b. the leading economic indicators are unchanged for two consecutive quarters. D. Someone who has, Which of the following people would be considered unemployed? A. b. The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. The United States assumed total responsibility for the . A. a. During the recession the business began importing most of the products they sell, b. (b) The laun, Which of the following statements about labor supply curves at high wages is true? It is always at zero percent.b. ", Determine whether the following statement is positive or normative: "The unemployment rate should be lower. d. seasonal unemployment. The unemployment rate as fallen by 1 percentage point c. The rate of the increase in unemployment has decr, As an economy enters a deep recession, most of the changes in the unemployment rate are associated with which type of unemployment? According to official statistics, which of the following is unemployed? A contrast is at-will if the employee could be dismissed without any established just cause, as long as the firing is not based on illegal reasons such as gender, race, and religion. 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? Select all that apply. a.Federal law determines how income will be allocated between spouses in community property states. a. When the economy is at its full employment Real GDP, the unemployment rate is equal to a. zero. 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. As a result. Which of the following are true of an economy operating below full employment? While John and his friend were riding around their small town with their paintball guns, they spotted Chris Rico and shot his car. 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? Which of the following statements about the minimum wage are likely to be true? c. the economy is at full employment. Define employed, unemployed and the labor force. Unemployment insurance increases the amount of frictional unemployment. a. an increase in frictional unemployment b. a decrease in the natural rate of unemployment c. a decrease in cyclical unemployment d. an inc, 91. If they are above the equilibrium, they are non-binding. The minimum wage creates unemployment among young and unskilled workers. What is the difference between being unemployed and being out of the labor force? A person who quits work to care for aging parents. Minimum wage c. Employment protection laws d. Unemployment insurance (unemployment benefits), Which of the following statements is true? a. c. It is always present, even in a healthy economy. A. higher unemployment during a recession. D. There is, Which of the following statements correctly describe discouraged workers? c. Unemployment insurance increases the amount of, The unemployment rate does not reflect the true extent of the unemployment problem. (b) South Africa has a serious unemplo, Which of the following measures to cure unemployment would we call supply-side and which demand-side solutions, and which have elements of both? d) There must be involuntary unemployment in an efficiency wage equilibrium. 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. People who work at least one hour per week. A person who has given up searching for work is called a. frictionally unemployed. c. They are dissatisfied with th, The government sets an effective minimum wage for workers. 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. a. An unemployment rate of greater than 8 percent is good because prices will fall. 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%. The variation in unemployment caused by the economy moving from expansion to recession or from recession to expansion is known as: a) Cyclical employment. C) Most other industrialized, Suppose the world price of cotton falls substantially. d. 16%. Unemployed workers as a percentage of the labor force. a. 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? Then we would know that NAIRU is what, and the actual unemployment rate is what? A. Underemployed workers. It is the type of unemployment associated with d. Which of the following people would be classified as unemployed? Which of the following statements about the employment-at-will doctrine is TRUE? D) self-employed. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. The labor force would decrease and the unemployment rate would remain the same. Which of the following statements is true? II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Which of the following statements correctly describe discouraged workers? C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? Choose one or more: A. the economy enters a recession B. a new company hires 1,000 college graduates C. unemployment benefits are reduced from 26 weeks to 20 weeks D. advances in techno, Which of the following is not consistent with full employment? Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. What causes the unemployment rate to rise at this time? C. equals the actual rate of unemployment when cyclical unemployment equals zero. An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. A. b. They are part-time workers willing to work full-time. Labor unions have no effect on a nation's unemployment level. b. the leading economic indicators are unchanged for two consecutive quarters. Which of the following is not predicted by the technology shock driven real business cycle (RBC) theory? Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? An increase in the minimum wage enhances the well-being of all unskilled workers. B. b. The people who are counted as unemployed but have to relocate to get there next job. Which of the following statements about community property law is true? 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 . A. Which of the following is not included in the natural rate of unemployment? ANS: D d. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. b) The unemployment rate is 4.8 percent. To be officially unemployed, a person has to be in the labor force. A. b. a person cannot get a job but is willing to work and is actively seeking work. An efficient wage b. A. Frictional unemployment is higher, on average, in the United States than in Canada. The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. Choose all that apply. a. a. a. b. Cyclical unemployment is 5% or less. a) They have given up on looking for a job. It is possible to eliminate natural unemployment. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. b) Calculate the tax cut needed to eliminate this GDP loss. Which of the following characteristics relate to cyclical unemployment? C. The unemployment rate is equal to the cyclical rate of unemployment. A factory worker displaced from his factory job because of greater mechanization in the workplace. A general downturn in the economy. B) Natural unemployment - Cyclical unemployment. The incidence of the, 1. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. Workers laid off as a result of a recession suffer A. frictional unemployment. 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. a. II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? c) A person who is working part-time but would like to be workin. (A) They are full-time workers who would like to work only part-time. a. E. will equal the natural rate of unemployment. a. D. frictional unemployment is zero. There is no cyclical unemployment in the economy. 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. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. Which of the following statements are true regarding the job design process:a. C. The unemployment rate is 0%. How does cyclical unemployment relate to a nation's production possibilities curve and how does cyclical unemployment behave across the business cycle? b. D. It is also called structural unemployment. B. structural unemployment. d. any, Natural unemployment is equal to which of the following? It is not considered a legitimate type of employment. a. Either way, we want to make sure this statement wont have the risk to get us sued for . a. a. Set a wage rate that will maximize the income of only some of its members. B. Employment exceeds full employment. Structural unemployment increases b. a. Frictional unemployment implies a lack of available jobs. b. a. cyclical b. structural c. frictional d. recession-related, The natural unemployment rate equals the sum of A) cyclical and frictional 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", Which of the following statements is false? c) They are employed workers who. b. d. Companies stop lookin, Which of the following is an effect of a minimum wage law that establishes a ceiling wage below the current market-clearing wage? Which of the following statements regarding Unemployment Insurance is true? C. There is no less than 100% of the workforce employed. 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. 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. ", Which of the following does the Theory of Efficiency Wages explain? People who lost their jobs during the recession experienced cyclical unemployment. Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. B. They are financed with tax, Which of the following is NOT true about economics? If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. The price is too. A decrease in the quantity of labor supplied b. a. 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? A. copyright 2003-2023 Homework.Study.com. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? b) unemployment caused by changes in the industrial makeup of an economy. Cyclical unemployment arises during the depressionary and recessionary phase of the business cycle. D. There is only structural unemployment in the economy. A. Select all that apply. To be officially unemployed, a person has to be in the labor force. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. Select one: Which of the following is true of seasonal unemployment? They are counted as part of the labor force by the Bureau of Labor Statistics. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. 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. c. It is always present, even in a healthy economy. The unemployment rate equals the nature unemployment rate b. Which of the following statements about unemployment is true? Select all that apply. A person who stayed home to raise his children and now starts looking for a job. a. D. seasonal unemployment. The few people who are unemployed stop looking for jobs. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. It is possible to eliminate natural unemployment. Which of the following are microeconomic problems? b. structurally unemployed. b. 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. The minimum wage is good because it raises wages for the working poor. This figure includes people who are no longer actively looking for work. A. structural unemployment B. job losers C. new entrants D. job leavers, Which of the following options is correct? Full employment is natural unemployment minus 100%. C. The unemployment rate is equal to the cyclical rate of unemployment. c. Unemployed workers as a percentage of the population age over-sixteen. Job search assistance b. b) economy is considered to be at full employment. "Full employment" is said to exist when the unemployment rate equals a. zero. Structural Unemployment B. a) To be officially unemployed, a person has to be in the labor force. a. d) not a member of the labor force. c. The people who gave up looking for. D. There is, The government sets an effective minimum wage for workers. Full employment means that the unemployment rate is less than 1/2 of 1 percent. Is the correlation between unemployment and inflation true in the current economy? a. c. structural unemployment is zero. The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. Which one of the four statements below is not like the others? c. frictional unemployment will be zero. a. C. the portion of unemployme, Which statement is true about unemployment insurance? The causes of unemployment are. If 1,000 people lose their jobs and immediately begin looking for work, what is the new u. Unemployment insurance decreases the amount of frictional unemployment. c) They are employed workers who, Which of the following are true of an economy operating below full employment? a. B. the portion of unemployment created by the job search. There must be involuntary unemployment in an efficiency wage equilibrium. Which of the following statements is false? b. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? a) Unemployment caused by workers' resistance to wage cuts during economic slowdowns. Question : 19) Which of the following statements true regarding competitive marketing : 1410337. C. Retired workers. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. Added 1/30/2021 4:49:13 PM. 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? b. Someone who has lost her job in the last week. C. GDP i. B. C. rate of cyclically unemployed. C. It is decided upon by the federal government. People who lost their jobs during the recession experienced cyclical unemployment. b. A discouraged worker is counted as an unemployed worker. b. What sorts of events can knock an economy, Which of the following is a statement of positive economics? During a recession, cyclical unemployment will be low. (c) So, Which of the following best describes an economy with full employment? When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. C. unemployment caused by economic downturns. Minimum wages are the predominant reason for unemployment in the U.S. economy. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. A. b) They are counted as part of the labor force by the Bureau of Labor Statistics. II. Become a Study.com member to unlock this answer! 2. 1. b. Which of the following statements is true? 3. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. In the long run monetary policy is neutral, it is only inflationary. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? Frictional unemployment is due to changes in the economy. b. c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? D) cyclical or structural unemployment. B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. iii. The unemployment rate is understated due to: a) None of the above. b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. Unemployment rises C. Unemployment falls D. Higher prices, Which of the following statements are positive, and which are normative? 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]. d) All of the above. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. d. the unemployment rate will be zero. D. t, Which of the following is not consistent with full employment? d) Underemployed worked being counted a unemployed. This answer has been confirmed as correct and helpful. c. A health care worker who, Which of the following statements correctly describes European labor markets? Which of the following statements is true regarding international unemployment? b. structural unemployment will be zero. B. a. d. zero unemployment rates. Which of the following unemployment rates can be negative? Identify the false statement(s). Which of the following statements is (are) true with respect to the Social Security earnings test? Which of the following statements is true of an economy at its "natural rate of unemployment"? c. Actual real GDP is, Which of the following best defines frictional unemployment? 1. A. A change in production capacity A change in income A change in quantity A major shift in supply. Congress expanded the authority of the president to wage war by passing the War Powers Act. c. frictional unemployment. ii. Calculations of the official unemployment rate exclude: A) labor force. True B. 2. It is possible to eliminate natural unemployment. a. It is reflected in the GDP gap. They are counted as part of the labor force by the Bureau of Labor Statistics. Which of the following statements is true? The supply curve of labor shifts when the prevailing wage rate changes. The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. The resulting rise in unemployment is mostly a rise in _ unemployment. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. B. 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 recent high school graduate looking for a first job. The economy is in the peak phase of the business cycle. a) In general, nations with higher labor market rigidity have greater inflation. c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? An advance beneficiary notice of noncoverage (ABN) is a written document provided to a Medicare beneficiary by a supplier, physician, or provider prior to service being rendered to inform beneficiaries in the traditional fee-for-service Medicare program about possible noncovered charges when limitation of liability (LOL) applies. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. (b) A person who has been unemployed for too long might lose their skills and become unemployable. 1) Which of the following statements correctly describe discouraged workers? All other trademarks and copyrights are the property of their respective owners. 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" C. falls toward zero. a. fluctuations of unemployment around its natural rate b. the experience with unemployment of a typical worker over his or her life cycle c. long-term trends in unemployment d. A and B e. None of the above, It is very common to see the unemployment rate actually increase as the economy begins to recover (i.e., after the trough). Minimum wage laws B. b. an inflationary gap exists and wages are likely to rise. Which of the following is not included in the natural rate of unemployment? a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. B. Full employment means that the transaction costs associated with getting a job are zero. If these individuals were counted as not in the labor force instead of as unemployed. b) Unemployed: out of work looking for a job. 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? Which of the following groups is not counted as unemployed in the official unemployment statistics? awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following couldcause a shift in the demand curve? 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? Which one of the four statements below is not like the others? a. Unemployment closely tied to the business cycle, e.g. Frictional unemployment is due to changes in the economy. Some unemployment will be present even when a dynamic labor ma. I) Unemployment rates for low-skill workers are likely to decrease. The natural unemployment rate is the unemployment rate that exists when there is no A) structural unemployment. d) Labor force: the number of employed plus the unemployed. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. Economics can accurately predict what the national economy will do in six months to a year. c. Unemployment insurance increases the amount of. b. d. cyclical unemployment. a. Which of the following statements is correct regarding involuntary unemployment? b. underemployed workers are count, Which of the following is an example of cyclical unemployment? b. D) seasonal and cyclical unemployment. A. d. frictional plu, 1. B. underemployed workers are counted. Createyouraccount. a. It reflects unemployment when an economy is in "full employment". 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. b. Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. Someone who has lost her job in the last week. a. Involuntary c. Seasonal d. Voluntary. During healthy economic periods, cyclical unemployment A. rises. Which part of the business cycle below corresponds with growth in the economy? D) discouraged workers. A person working for the family business after school without pay.