Macro Test 2. Chapter 7.a and Checkpoint 4

during a recession, cyclical unemployment (blank) and real GDP (blank)

increase;decrease

joe has been unable to find job because he lacks the necessary computer skills. joe is

structurally unemployed

structural unemployment included people who become unemployed from?

technological changes

frictional unemployment is the result of?

the normal process of jobs being created and destroyed

the labor force consists of

the number of people in the working age population who are employed and unemployed

Labor force participation rate is

the percentage of the working-age population who are members of the labor force.

the unemployment rate equals

(number of people unemployed /labor force) x 100

assume the US population is 300million. if 200million pole are working age, 125 million are employed and 15 million are unemployed, what is the size of the labor force?

140 million

assume the US population is 300 million. if the working age population is 240 million, 150 million are employed, and 6 million are unemployed, what is the labor force?

156 million

suppose the population is 300 million, the labor force is 200 million people, the number of employed is 185 million and the working age population is 170 million people. what is the unemployment rate?

7.5 Percent

in fall 2009, the population of the US was 301 million, the working age was 235.7 million, the total number of people employed and unemployed was 154.9, and the total number of unemployment people was 14.7 million. what is the unemployment rate?

9.5 percent

unemployment

Had no employment, Were available for work, and either: Had made efforts to find employment during the previous four weeks, or Were waiting to be recalled to a job from which they had been laid off.

employment

Were not working but who had jobs from which they were temporarily absent.

the working age population consists of all the people in the population

aged 16 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces

cyclical unemployment unclosed people who become unemployed from

changes int he business cycle

which type of unemployment is the consequence of downturns in the business cycle?

cyclical

at full employment there is no

cyclical unemployment

janae was fired from her job wit microsoft in the 2008-09 recession because microsoft's sales dipped. jane's unemployment would be best classified as

cyclical unemployment

in 2008 as the economy moved into a recession

cyclical unemployment increased

the working age population includes?

employed and unemployed people over the age of 16

an unpaid worker is a family business is classified as?

employed if the person worked at least 15 hours in the previous week

natural unemployment equals the sum of

frictional and structural unemployment

the unemployment rate generally (blank) during recessions and generally (blank) during expansions.

increases; decreases

Labor force

is the number of people employed plus the number unemployed.

part time workers are defined as poe who are working

less than 35 hours per week

People Not in labor force are

mainly full time school-goers and retired.

when the economy is at full employment the

natural unemployment rate equals the unemployment rate

the unemployment are is the

percentage of the labor force that does not have a job

an employee who is fired from his or her job because he or she lacks the skills required to accomplish the task, is part of (blank) unemployment.

structural

suppose the population of Timmy town is 1000 people and the working age population is 800. if 200 of these people are unemployed, the unemployment rate is Timmy town is?

there is not enough information provided to calculate the unemployment rate

to be classified as employed, you much work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business.

true