Macro - 3.2 Quiz

sally lost her job when her company went out of business because of a recession. this is an example of:

cyclical unemployment

the number of people officially unemployed is not the same as the number of people who can't find a job because:

discouraged workers aren't counted

true or false: the relationship between RGDP and the unemployment rate is most likely to be positive

false

if a sizable number of workers were switched from full-time to half-time employment, the official unemployment rate would:

remain unchanged

a ski instructor out of work during the summer months is an example of which type of unemployment?

seasonal unemployment

according to most economists, the US is at full employment when the unemployment rate is about:

5%

which of the following statements would come from someone classifies as unemployed?

I'm not working. I had three interviews this week, and I'm trying to find a job

if top government officials claim that more people are working now than ever before, which of the following must be true? *Ans: the number of people employed is higher now than ever before

if top government officials claim that more people are working now than ever before, which of the following must be true? *-*the number of people unemployed is lower now than ever before *-*the unemployment rate is lower now than ever before *-*the number of people in the labor force is higher now than ever before *-*the employment rate is higher now than ever before *-*the number of people employed is higher now than ever before

one social benefit of unemployment is:

improved allocation of labor when workers who experience unemployment change to a different job ??

the unemployment rate will increase whenever there is a(n):

increase in the number of unemployed persons relative to the size of the labor force

frictional unemployment is:

present is any dynamic economy

Julia earned a B.S. in engineering and went to work for a large defense contractor in a small town in California. when the government cut spending, Julia and 99 others were laid off. the only other business in the town is growing grapes to be made into raisins, but the growers refuse to hire laid-off engineers, knowing they'll leave at the first opportunity. the unemployment Julia is experiencing is:

structural

the economy is considered to be at full employment when:

the rate of cyclical unemployment is 0

when the economy is operating at the full-employment level of output:

there is a rough balance between the number of jobs available and the number of qualified job applicants

how are the unemployment rate and RGDP related?

they move in opposite directions??