Macroeconomics, Chapter Six, Section one.
Between 1960 and 2013, the labor force participation rate of men ______, and that of women ______.
decreased persistently; increased in most years
Joe is a server at Olive Garden who wants to work 40 hours a week but works 15 hours a week because the number of patrons at Olive Garden has decreased.
economic
Marla is an associate at JCPenney who wants to work 40 hours week but works 25 hours a week because sales at JC Penney are slow.
economic
When the output gap is positive, the unemployment rate ______ the natural unemployment rate. When the output gap is negative, the unemployment rate ______ the natural unemployment rate.
is less than; is greater than
Florence is semi-retired and wants to work 15 hours a week at Walgreens so she can spend time with her grandchildren. Walgreens schedules her for 15 hours a week.
noneconomic
The labor force is the number of people employed plus the _____.
number unemployed
The labor force participation rate is the percentage of the _____ who are members of the labor force.
working-age population
The table gives information reported by the Bureau of Labor Statistics for February, 2007. What is the unemployment rate? What is the labor force participation rate? The unemployment rate is ___ percent.
(( 151,879 ,000 Labor Force−144,479,000 Employment) divided by ÷151, 879,000) times ×100, which is 4.9 percent.
The BLS counts Jody as being unemployed if she _______.
wants a job and is willing to take a job but after searching last week cannot find a job
The table gives information reported by the Bureau of Labor Statistics for February, 2007. What is the unemployment rate? What is the labor force participation rate? The labor force participation rate is ___ percent.
(151,879,000 Labor Force /230,834,000 Working Age)x 100, which is 65.8 percent
The Bureau of Labor Statistics reported that in April, 2017, the labor force was 159,784,000, employment was 152,923,000, and the working-age population was 254,767,000. Calculate for that month the labor force participation rate and the unemployment rate. The labor force participation rate was _____percent.
(159,784,000 Labor Force/254,767,000 working-age)*100, the labor force participation rate was 62.7 percent.
The Bureau of Labor Statistics reported that in April, 2017, the labor force was 159,784,000, employment was 152,923,000, and the working-age population was 254,767,000. Calculate for that month the labor force participation rate and the unemployment rate. The unemployment rate was ___ percent.
(6,861,000/159,787,000 employment) x100. The unemployment rate was ___ percent.
Read the news clip, then answer the following questions. Recovery won't improve unemployment Despite some optimism about the seeds of recovery, the Congressional Budget Office (CBO) sees joblessness rising. The CBO sees unemployment peaking at 10.4% next year from an average of 9.3% this year, before it falls to 9.1% in 2011. Source: Fortune, August 25, 2009 Before the recession began, the U.S. unemployment rate was about 6 percent. As a recession begins, firms quickly make layoffs. The resulting rise in unemployment is mostly a rise in ______ unemployment.
Cyclical, Cyclical unemployment is the unemployment that fluctuates over the business cyclelong dash— increasing during a recession and decreasing during an expansion
Which of the following statements illustrates frictional unemployment?
Robin is quitting his current job to find another that has better prospect
The Bureau of Labor Statistics reported that in July 2009, the labor force was 154.5 million, employment was 140.0 million, and the working-age population was 235.9 million. Calculate the unemployment rate and the labor force participation rate for that month.
The labor force participation rate was 65.5 percent
The BLS reported that in November 2017, the labor force was 159.8 million, employment was 152.9 million, and the working-age population was 254.8 million. Calculate the unemployment rate and the labor force participation rate.
The labor force participation rate is percent
The BLS reported that in November 2017, the labor force was 159.8 million, employment was 152.9 million, and the working-age population was 254.8 million. Calculate the unemployment rate and the labor force participation rate.
The unemployment rate is 4.3 percent.
The Bureau of Labor Statistics reported that in June 2005, the labor force was 151.1 million, employment was 143.3 million, and the working-age population was 226.2 million. Calculate the unemployment rate and the labor force participation rate for that month.
The unemployment rate was 5.2 percent.
The Bureau of Labor Statistics reported that in July 2009, the labor force was 154.5 million, employment was 140.0 million, and the working-age population was 235.9 million. Calculate the unemployment rate and the labor force participation rate for that month.
The unemployment rate was 9.4 percent.
When the economy goes into recession, the biggest increase in unemployment is _______.
cyclical because jobs are lost in many industries as they cut production
A marginally attached worker is a person who _______.
doesn't work, is available and willing to work, but hasn't looked for a job recently.
Read the news clip, then answer the following question. U.S. unemployment rate lowest since 2008 The Labor Department said that the economy added 146,000 jobs in November, and the unemployment rate fell to 7.7% from 7.9% in October. But it fell mainly because workers dropped out of the labor force. Source: CNN Money, December 7, 2012 New jobs ______ the labor force and _______ the unemployment rate.
increase or do not change; lower
The unemployment rate is the percentage of the people in the _____ who are unemployed.
labor force
Michelle is a student who wants to work 20 hours a week at Cost Cutters so she can attend school. Cost Cutters schedules her for 20 hours a week.
noneconomic
The working-age population is the total number of _____ aged _____ years and over who are not in jail, hospital, or some other form of institutional care or in the U.S. Armed Forces.
people; 16
Read the news clips, then answer the following questions. BofA cutbacks may hit 40,000 Bank of America officials have discussed eliminating about 40,000 positions during the first wave of a restructuring, as it closes branches in response to the growth of online banking. Source: The Wall Street Journal, September 9, 2011 Postal Service targets 220,000 job cuts The U.S. Postal Service plans to reduce its workforce by 220,000 jobs to remedy its dire financial situation. The Postal Service, financed mostly by postage, has been struggling as a result of the economic slowdown. Source: The Wall Street Journal, August 12, 2011 The cut in employment at Bank of America results in ______ unemployment. The cut in employment at the U.S. Postal Service results in ______ unemployment.
structural;cyclical
If the BLS included all marginally attached workers as being unemployed, the _______ would be _______.
unemployment rate; higher
The Great Depression was a period of high _____, low _____, and extreme economic hardship that lasted from _____ to _____.
unemployment;incomes;1929;1939
