Econ 201 Module 13 Homework Quiz

Individuals who give up looking for work because they don't feel that there are good prospects of finding a job are known as:

discouraged workers.

If the growth rate of GDP is above its historical average, then there is a tendency for the unemployment rate to:

fall

The statistics and data on unemployment are gathered and reported:

monthly.

To be classified as unemployed, a person must be:

not working and actively looking for a job in the last four weeks.

A person who has no job but is looking for one is:

unemployed and part of the labor force.

Unemployment is the total number of people:

who are actively looking for work but aren't currently employed.

Economists claim that the unemployment rate can understate the true level of unemployment because none of the following groups are included, EXCEPT:

workers without jobs who have looked for work in the last four weeks.

__(Table: Unemployment and Employment Data) According to the Table: Unemployment and Employment Data, if marginally attached workers are included, the labor force in this economy is:

103 million.

If a country has a working-age population of 200 million, 135 million people with jobs, 10 million people who were looking for a job but have given up, and 5 million people unemployed and seeking employment, then its labor force is:

140 million.

__(Table: Population Data for Estill County) According to the Table: Population Data for Estill County, if marginally attached workers are included in the labor force and in the unemployment rate, the unemployment rate in this economy is:

23.1 percent.

If there are 100 million people in the total population, a labor force of 50 million, and 47 million employed workers, the unemployment rate is:

6 percent.

Which calculation is correct?

Unemployment rate = unemployed / labor force x 100

To be counted as unemployed, one must:

be out of work and be actively looking for a job.

Discouraged workers are those individuals who:

have given up looking for a job.

Periods of recession are likely to be marked by:

rising unemployment.