Employment

To be counted as employed by the​ BLS, in the week before the survey the person must have worked for pay​ ________. A. at least 5 hours B. more than 20 hours C. 40 hours D. at least 1 hour E. None of the above are right because the BLS counts as employed anyone who works volunteer hours at a​ non-profit institution

at least 1 hour

The natural unemployment rate occurs A.when the structural unemployment rate equals zero. B. when the seasonal unemployment rate equals zero. C. when the unemployment rate equals zero. D. at the full employment level of unemployment. E. when the frictional unemployment rate equals zero.

at the full employment level of unemployment

As firms search for the best employee to fill an opening and the unemployed search for the job that best fits their​ skills, the economy experiences A. frictional unemployment. B. cyclical unemployment. C. changes in the business cycle. D. seasonal unemployment. E. structural unemployment.

frictional unemployment

Which of the following would be considered unemployed as part of normal labor market​ turnover? ​ i) Juliet, who was fired when the company where she worked went bankrupt in a recession. ​ ii) Hannah, who quit her job to find one that better suited her skills. ​ iii) Charlotte, who started looking for a job upon graduation from high school. A. i and iii. B. i, ii and iii. C. i and ii. D. ii and iii. E. iii only.

ii and iii

When the unemployment rate is greater than the natural unemployment​ rate, real GDP is A. unrelated to potential GDP. B. greater than full employment GDP. C. greater than potential GDP. D. equal to potential GDP. E. less than potential GDP.

less than potential GDP

As a result of the oil price hikes and international competition in the​ 1970s, ________. When governments and businesses downsizing in the​ 1990s, ________. A. cyclical unemployment​ decreased; frictional unemployment decreased B. seasonal unemployment​ decreased; frictional unemployment increased C. cyclical unemployment​ increased; frictional unemployment increased D. frictional unemployment​ increased; structural unemployment increased E. structural unemployment​ increased; structural unemployment increased

structural unemployment​ increased; structural unemployment increased

How would you best describe a manufacturing employee who has been fired because he was replaced by a robot​ (new technology) and does not have the skills necessary to help operate the​ robot? A. entrant/reentrant B. structurally unemployed C. cyclically unemployed D. withdrawal E. job leaver

structurally unemployed

Structural unemployment includes people who become unemployed from A. going back to school. B. changes in the seasons. C. normal changes in the labor force. D. changes in the business cycle. E. technological changes.

technological changes

Based on the above​ table, the unemployment rate is A. 10 percent. B. 11.1 percent C. 8.6 percent. D. 5.4 percent. E. 7.1 percent.

10 percent

Which of the following is​ true? A. Part-time workers are all those who work less than 40 hours per week. B. To be classified as​ employed, you must work at least 1 hour per week at a paid job or 15 hours or more as unpaid workers in your family business. C. To be classified as​ employed, you must be a​ full-time worker at a paid job. D. To be classified as​ employed, you must work at least 20 hours per week at a paid job. E. If you are not working and turn down a job offer in the previous​ week, you are no longer classified as unemployed.

To be classified as​ employed, you must work at least 1 hour per week at a paid job or 15 hours or more as unpaid workers in your family business

In calculating the unemployment​ rate, part-time workers over the age of 16 are counted as A. unemployed. B. employed. C. not in the labor force. D. employed if they are​ part-time workers for noneconomic reasons and unemployed if they are involuntary​ part-time workers. E. not in the​ working-age population.

employed

The​ working-age population includes A. employed and unemployed people over the age of 16. B. people over the age of 16 who are in the Army. C. those in jails and hospitals. D. only employed people over the age of 16. E. youngsters between the ages of 14 and 16 if they are working at least part time.

employed and unemployed people over the age of 16

Which type of unemployment is a permanent and healthy phenomenon in a dynamic​ economy? A. unavoidable B. structural C. seasonal D. cyclical E. frictional

frictional

Higher unemployment benefits create A. incentives for longer job searches and higher frictional unemployment. B. higher seasonal unemployment as workers switch jobs. C. higher structural unemployment as firms are more likely to fire workers. D. a lower number of job leavers. E. incentives for shorter job searches and higher structural unemployment.

incentives for longer job searches and higher frictional unemployment

In measuring the unemployment​ rate, part-time workers are​ ________ and discouraged workers are​ ________. A. included as​ employed; included as unemployed B. included as​ employed; excluded C. excluded; included as unemployed D. excluded; excluded E. included as unemployed if they are involuntary​ part-time workers; excluded

included as​ employed; excluded

The Bureau of Labor Statistics​ (BLS) compiles information about employment by A. contacting each of the 50​ states' Departments of Labor. B. determining the average estimate of labor market specialists around the nation. C. performing a census of every household in the nation. D. performing a monthly survey of​ 60,000 households. E. performing a quarterly survey​ 6,000,000 households.

performing a monthly survey of​ 60,000 households

Frictional unemployment is the result of A. changing weather throughout the year. B. an economic recession. C. the normal process of jobs being created and destroyed. D. people not getting along​ (having friction) with their employers. E. the economic decline of major industries.

the normal process of jobs being created and destroyed

Full employment is the level of unemployment that occurs A. when​ frictional, structural, and cyclical unemployment are zero. B. when cyclical unemployment is zero. C. when​ frictional, structural,​ seasonal, and cyclical unemployment are zero. D. when everyone looking for a job has a job. E. when frictional and structural unemployment are zero.

when cyclical unemployment is zero