Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. c) Cyclical unemployment. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. Which of the following statements is true? It reflects unemployment when an economy is in "full employment". a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. a. B) frictional unemployment. 2. C. cyclical unemployment is zero. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. c. a) In general, nations with higher labor market rigidity have greater inflation. b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? A person who is not working is officially unemployed. B. frictional unemployment would rise. All rights reserved. . B. equals zero. The labor supply curve is downward sloping. A. A person who wants a job as a fashion model but cannot find work in that field. c. Companies have difficulties recruiting workers. d) Underemployed worked being counted a unemployed. c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. c. It is always present, even in a healthy economy. Unemployed workers as a percentage of the labor force. B. structural and frictional unemployment have been eliminated. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. Full employment means that the transaction costs associated with getting a job are zero. b. Structural Unemployment B. I. Which of the following is true when the economy is at full employment? b. Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. a. surplus labor, or unemployment b. a decrease in the market-clearing wage c. a decrease in the quantity of labor supplied d. Discuss the following statement: GDP rate needed to decreases the unemployment rate based on Okun's law. Hint: it's not zero. Identify all that apply. 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? c. structural unemployment. Which of the following statements about seasonal unemployment is TRUE? 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? The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. b. 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. c. why the m, Which of the following is true? c. Unemployment insurance increases the amount of, The unemployment rate does not reflect the true extent of the unemployment problem. People who lost their jobs during the recession experienced cyclical unemployment . (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? c. People over 65 who don't really want to work. a. -It entails processes that focus on delivering value and benefits to customers. A) 0.4% B) - 0.6% C) - 4.5% D) 4.5% E) 10%. Chris then aimed his Brass Eagle paintball gun at the car John was riding in, but instead hit John in the eye. b. Explain. c) Discouraged workers not counted in the labor force. Which of the following statements is incorrect? b) job retraining. b. a) They have given up on looking for a job. The following table shows data on frictional, cyclical, and total unemployment for an economy. B. the portion of unemployment created by the job search. Unemployment correlated with the business cycle is called A. cyclical unemployment. b. Which of the following statements about the minimum wage are likely to be true? A. b) A person who is not working is officially unemployed. If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then what does the number of people employed equal to? Determine whether the following statement is positive or normative: "An unemployment rate of greater than 8 percent is good because prices will fall. c. People who are underemployed. D) seasonal and cyclical unemployment. Which of the following statements about unemployment is true? b. A. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. (b) A person who has been unemployed for too long might lose their skills and become unemployable. They have given up on looking for a job. c) Out of labor force: Out of paid work and looking for a job. False 2. Check all that apply. c) It tends to occur when an economy experiences inflation. It is the amount of unemployment in the economy, adjusted for the effects of inflation. The supply curve of labor shifts when the prevailing wage rate changes. b. b. Which of the following is NOT a consequence of imposing a legal minimum wage? 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) They have given up on looking for a job. Createyouraccount. a. Frictional unemployment is due to changes in the economy. Consumer confidence can be volatile and inconsistent over time. If economic policy-makers can keep the economy growing at a steady pace, they can reduce: a. cyclical unemployment. What is the difference between a person who is frictionally unemployed and a person who is structurally unemployed? The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. B. There is only cyclical unemployment in the economy. c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. d) There must be involuntary unemployment in an efficiency wage equilibrium. In the labor force? Createyouraccount. (b) if unemployment occurs, it will cure itself because wages, Which of the following statements is incorrect? b.Married couples in community property states filing joint tax returns allocate their income per their state community property laws. South Africa's unemployment problem stems from the demand side only. A. b. a) Employed: currently working for pay. A general downturn in the economy. Which one of the following statements is correct? A. b) A person who is not working is officially unemployed. Someone who has lost her job in the last week. a. D. There is only structural unemployment in the economy. a. Full employment is natural unemployment minus 100%. A. An unemployment rate of 7 percent is a serious problem. Labor income Which statement below about the exchange rate is FALSE? Employment insurance compensation increases the opportunity cost of being. b) economy is considered to be at full employment. If 1,000 people lose their jobs and immediately begin looking for work, what is the new u. C. equals the actual rate of unemployment when cyclical unemployment equals zero. Select one: Which of the following is true of seasonal unemployment? People who lost their jobs during the recession experienced cyclical unemployment. a.Federal law determines how income will be allocated between spouses in community property states. b. what is the unemployment rate? During a recession, cyclical unemployment will be low. Government policies to help promote a stagnant economy c. Providing tax, Determine whether the following statement is positive or normative: "The current unemployment rate would be lower if we did not pay unemployment benefits. Total unemployment is 5%. a) To be officially unemployed, a person has to be in the labor force. (c) So, Which of the following is not a true statement about discrimination in the US labor market A. A teenage worker is more likely to be unemployed than an older worker. Which of the following statements is true regarding the 5-M model? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. Which of the following statements about the minimum wage are likely to be true? Our experts can answer your tough homework and study questions. Explain to whom that type of unemployment might apply. Interviewing a wide variety of candidates to ensure a diverse workforce b. II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? Which of the following statements about unemployment is true? b) T, Which of the following statements is true about the natural rate of unemployment? See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. C. unemployment caused by economic downturns. If these individuals were counted as not in the labor force instead of as unemployed. )contractionary monetary policy; left b.)contractionary. Which of the following statements about full employment is correct? a. fictional unemployment increases. a. Frictional unemployment implies a lack of available jobs. a. When there is involuntary unemployment, the employment rent is zero. Suppose the government wants to reduce this type of unemployment. Select all that apply. Some unemployment will be present even when a dynamic labor ma. Which of the following statements about the employment-at-will doctrine is TRUE? Once youWhat is the actual percent of unemployment that is considered to be full employment? C. A person who is working part-time but would like to be work. The unemployment rate is understated due to: a) None of the above. Someone who has lost her job in the last week. Learn the various types of unemployment. b. D. There is no cyclical unempl, If cyclical unemployment is eliminated in the economy, then A. the economy is considered to be at full employment. The unemployment rate is equal to 0%. Which of the following are true of an economy operating below full employment? e) A person who is a full-time student and not seeking employment is still considered unemployed. c. Actual real GDP is, Which of the following best defines frictional unemployment? B. Select one: a. a. B. Frictional and structural unemployment are also equal to zero. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. A. Zero, b. A. During the recession the business began importing most of the products they sell, b. It is difficult to predict because it involves all kinds of workers. D. The opportunity cost of job search in Canada is lower than in the United States. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? 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? Which of the following statements is true regarding international unemployment? When unemployment is increasing, it is a sign of a recession b. Explain whether you agree or disagree with the statement. An efficient wage b. a. (A) They are full-time workers who would like to work only part-time. The unemployment rate in the United States was 8.1 percent in August 2012. b. b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. A. a. Check all that apply. a) To be officially unemployed, a person has to be in the labor force. Which of the following statements is false? The minimum wage is supported by unions. B. underemployed workers are counted. iv. a. B. unemployment caused by changes in the industrial makeup of an economy. It is possible to eliminate natural unemployment. (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. A. This answer has been confirmed as correct and helpful. All other trademarks and copyrights are the property of their respective owners. Job search assistance 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? C) frictional, seasonal, and structural unemployment. b. Frictional unemployment is due to changes in the economy. The unemployment rate is equal to 0%. 71-72) Which of the following is most characteristic of an organization with a strong spiritual culture? c. There is no involuntary unemployment. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? C. rate of cyclically unemployed. B. Frictional unemployment results from the process of matching workers and jobs. Mark all that apply. C. The unemployment rate is equal to the cyclical rate of unemployment. c. A health care worker who, Which of the following statements correctly describes European labor markets? b. Which of the following is true of seasonal unemployment? Which of the following statements is false? It can be eliminated only in a free society. Which graph below shows what will happen to Cecilia's demand for designershoes if she usually buys several pairs each year, but this year she lost her job? B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. 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? 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. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. Real output exceeds the natural level of real output. B. a. a. Cyclical unemployment refers to _____. c. Unemployment insurance increases the amount of. Which of the following statements about the employment-at-will doctrine is TRUE? a. Real output exceeds the natural level of real output. A person who is not working is officially unemployed. a. cyclical b. structural c. frictional d. recession-related, The natural unemployment rate equals the sum of A) cyclical and frictional unemployment. Full employment means that the unemployment rate is less than 1/2 of 1 percent. Productivity is pro-cyclical. The supply curve of labor shifts when the prevailing wage rate changes. a. The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. Rent control is an example of a price floor. a. Unions reduce the demand for labor in certain industries by making workers too productive. a. Hence, lesser will be premium It is neither Charity nor Gambling There must be involuntary unemployment in an efficiency wage equilibrium. D. It is . Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. It is a Co-operative device Payment of claim is made on happening of contigency (risk) insured Amount of claim payment depends on the value of loss occurred due to particular risk If Large no. 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. a discouraged worker. Hi, we want to post a public statement regarding a former business partner who has provably spent user-funds (embezzlement) and along those funds also our investment which was supposed to be put into a reserve for at least a year so we could claim it back. d. the structural unemployment rate. A. B. d. the natural unemployment rate. Which of the following statements is true? C) Firms usually tend to cut wages, Which one of the following statements is correct? b. a. 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? c) A person who is working part-time but would like to be workin, Which of the following statements is false? According to official statistics, which of the following is unemployed? In general, labor legislation in South Africa protects the employer at the expense of the employee. D) discouraged workers. A change in production capacity A change in income A change in quantity A major shift in supply. a. reduce unemployment rates b. boost company profits c. restore a sense of community d. bring religion into business (c; moderate; pp. b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following terms defines workers who have given up looking for a job, but would still like one? Which of the following statements is true? b) A person who is not working is officially unemployed.. b. Dell laid off many employees when the company's profits dropped during the recession. Derived demand for labor depends on the demand for the product labor produces. B. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. Structural Unemployment B. D. None. d. the unemployment rate will be zero. c) Cyclical and structural unemployment. All other trademarks and copyrights are the property of their respective owners. Which of the following is a reason to learn about macroeconomics. a. An unemployment rate of 7 percent is a serious problem. Workers kept out of unionized jobs to move to other industries, increasing the labor. a. Frictional unemployment implies a lack of available jobs. 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? d. cyclical unemployment. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. Employment exceeds full employment. 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. Explain. The federal government may lend money to states which come up short in providing these benefits One does not need to be actively looking for work to receive benefits B. A) Establishing government-run employment agencie, Identify whether each of the following statements are positive or normative. An increase in the minimum wage has no effect on the well-being of middle-class families. Unemployment closely tied to the business cycle, e.g. c. Unemployment exceeds the nat. Minimum wages are the predominant reason for unemployment in the U.S. economy. 2. A. A. II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? An unemployment rate of greater than 8 percent is good because prices will fall. 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? It is always at zero percent.b. Discouraged workers. Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. b) unemployment caused by changes in the industrial makeup of an economy. Seasonal unemployment happens when people are out of work due to the season. a. The unemployment rate equals the nature unemployment rate b. The price is too high, sosuppliers want to produce less than consumers want. Which of the following policies will not reduce structural unemployment? An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. Set a wage rate such that all workers that want to find a job can find a job. Unemployment that is caused by business recessions is called: a. frictional unemployment b. seasonal unemployment c. structural unemployment d. cyclical unemployment, If the actual rate of unemployment were 4.2%, while the natural rate of unemployment were 4.8%, what would the cyclical rate of unemployment be? The unemployment rate is equal to 0%. It is difficult to predict because it involves all kinds of workers. d. None of the above. 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. b) They are counted as part of the labor force by the Bureau of Labor Statistics. Which of the following would help reduce the amount of frictional unemployment? C. The unemployment rate is 0%. Which of the following statements regarding unemployment is true? c. frictional unemployment. A landscape worker who is out of work during the winter. d) All of the above. a. a. A. c. Someone who gives up looking for a job. b. b. structural unemployment will be zero. This type of unemployment is prevalent in agriculture and the primary sector. D. t, Which of the following is not consistent with full employment? A) Firms usually tend to lay off workers than cut wages to reduce costs. (b) The pricing policies of firms. Economics is a social. Which of the following statements is true regarding the natural unemployment rate? a. a person who works only 5 hours per week for pay b. a full-time college student who chooses not to have a paying job c. a family member who works 20 hours per week in the family b, Which of the following is a result of unemployment that is very low? c. a person does not have a job, regardless of whether or not they want one. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. They canaffect long run RGDP. What is the difference between being unemployed and being out of the labor force? C. cyclical unemployment. Which of the following statements correctly describe discouraged workers? Select the statement below that is an example of monetary policy only. Which of the following is true when the economy is at full employment? A. B. The actual unemployment rate can never be at the natural rate. 20. b. Labor surplus B. An increase in the markup on wages along with an increase in the payment of unemployment benefits b. D. It is also called structural unemployment. c) unemployment caused by economic downturns. See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. The people who are employed but not in the job they want to be in. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. B. When there is involuntary unemployment, the employment rent is zero. Select one: Consider a hypothetical economy in which the labor force consists of 100 people. a. a. A person who is not working is officially unemployed. c) The government should extend unemployment benefits. Who do you call unemployed? a. -4%. a. (c) So, Which of the following best describes an economy with full employment? B. 37,194,541. A discouraged worker is counted as an unemployed worker. Which of the following statements is false? The resulting rise in unemployment is mostly a rise in _ unemployment. 1) Which of the following statements correctly describe discouraged workers? What is cyclical unemployment? b. a. c. frictional unemployment. c. frictional unemployment should fall because p. Which of the following is true of seasonal unemployment?