Assignment Eight Due (Chapter 5) Lesson 14 (Employment) Due 4/4/23

Which type of price index theory uses base year's quantities?

Laspeyres

Discouraged workers ________ counted as officially unemployed because they ________.

are not; are not actively seeking work

The employment-to-population ratio is defined as

total employment divided by the working-age population then multiplied by 100.

In a country with a working-age population of 130 million, 90 million workers are employed and 10 million workers are unemployed. What is the unemployment rate?

10.0 percent

Suppose there are currently 100 people unemployed, 1500 people employed, and 2000 people in the working age population. The labor force participation rate equals 100 times

1600/2000

Question -- Given the following:Given the following: population- 4,500,000Less than 16 years old-500,000unemployed but actively seeking work-100,000philosophers---(non working)50,000house-husbands/housewives (non employed)-20,000discouraged workers-10,000people in institutions-30,000full time students (non working)-100,000full time workers-3,000,000part time workers-690,000 Given the information in the questions above, what is the unemployment rate?

2.6%

If the CPI basket of goods cost $200 in the reference base period and $450 in a later year, the CPI in the later year equals

225.

If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the unemployment rate is

9.1 percent.

Question -- Given the following:Given the following: population- 4,500,000Less than 16 years old-500,000unemployed but actively seeking work-100,000philosophers---(non-working)50,000househusbands/housewives (non-employed)-20,000discouraged workers-10,000people in institutions-30,000full time students (non-working)-100,000full time workers-3,000,000part time workers-690,000 Given the information in the question above, what is the employment-to-population ratio?

92.9%

Question -- Given the following:Given the following: population- 4,500,000Less than 16 years old-500,000unemployed but actively seeking work-100,000philosophers---(non-working)50,000househusbands/housewives (non-employed)-20,000discouraged workers-10,000people in institutions-30,000full time students (non-working)-100,000full time workers-3,000,000part time workers-690,000 What is the labor force participation rate?

95.5%

Which of the following statements is INCORRECT?

The working age population includes everyone over the age of 16.

Cyclical unemployment occurs when

a business cycle recession decreases employment

Unemployment caused by the fluctuation of the business cycle is called ________ unemployment.

cyclical

When a student finishes college and begins looking for work

frictional unemployment increases

The three types of unemployment are

frictional, structural, and cyclical.

Because of a bank merger, Ms. Davis lost her position as Vice President and had to seek work with other banks. Ms. Davis has the skills necessary to find a new job, thus she is best considered as

frictionally unemployed.

The labor force participation rate is calculated as the

labor force divided by the working age population then multiplied by 100.

Frictional unemployment comes about because of

normal labor market turnover.

Marginally attached workers fall into which of the following population categories?

not in the labor force

During a recession, the ________.

number of marginally attached workers increases

Full employment occurs

only if the unemployment rate is equal to the natural rate of unemployment.

The unemployment rate measures the percentage of

people in the labor force who can't find a job.

Ms. Krupsky has shorthand and typing skills and still finds herself unemployed. In today's economy, Ms. Krupsky is an example of what type of unemployment?

structural unemployment

When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing

structural unemployment.

Structural unemployment is the result of

technological change, absolute job skills, or foreign competition.

The ________ is calculated as the number of people ________ divided by the labor force multiplied by 100.

unemployment rate; unemployed

The labor force is defined as

workers with jobs and unemployed workers.