Ch 21

14.a university student who is enrolled in school full-time and not seeking employment is considered a.out of the labor force b.unemployable, and not counted in official statistics c.employed in leisure d.underemployed

a

A welder who quits his job and moves from Pittsburg to Madison to try to get a better welding job is said to be: a.frictionally unemployed b.undermeployed c.cyclically unemployed d.structurally unemployed

a

During the great depression of the 1930s, the unemployment rate reached more than _______ of the labor force a.25% b.45% c.65% d.85%

a

Insofar as government public policy is concerned, the best way to battle unemployment would be __________________. a.to minimize recession b.to maximize unemployment payments c.to maximize unemployment insurance duration d.to minimize labor unions

a

Reginald looked for work for 6 months but could not find a job to his liking. He now spends his time at the beach. For purposes of unemployment he is considered: a.out of the the labor force b.unemployed c.employed in the underground economy d.undermeployed

a

The type of unemployment that occurs because of recession is called a.cyclical unemployment b.the natural rate of unemployment c.seasonal unemployment d. frictional unemployment

a

_________ argues that the productivity of workers will increase if they are paid more and so employers will often find it worthwhile to pay their employees somewhat more than market conditions might dictate a.efficiency wage theory b.equilibrium wage theory c.employee wage theory d.employer wage theory

a

1.the unemployment rate measures: a.the number of people unemployed divided by the number of people employed b.unemployed workers as a percentage of the labor force c.unemployed workers as a percentage of the population age over-sixteen d.unemployed workers as a percentage of the population

b

The US unemployment rate moves up and down as the economy moved in and out of recession. But over time the unemployment rate seems to return to a range of a.2-4% b.4-6% c.6-8% d.8-10%

b

The rise in employment that occurs because of a recision is known as cyclical unemployment, because it is tied to the _______ a.natural state of unemployment b.business cycle c.supply curve d.labor supply

b

the definition of market equilibrium states that at the ____________, the quantity of labor demanded by employers will equal the quantity supplied a.efficiency wage b.equilibrium wage c.sticky wage d.natural rate of unemployment

b

the labor force consists of a.discourages workers, employed workers, plus those that actively seek work b.all adults who are working or actively seeking work c. all adults who are able to work d.all adults who are working, plus those not working

b

If the unemployment rate is 8%, then this means a.8% of the population is unemployed b.8% of the population age over 16 is unemployed c.8% percent of the labor force is unemployed d.the number of unemployed persons equal 8% of the employed persons

c

Frictional unemployment is: a.unemployment that is due to the friction of competing ideological systems b.unemployment caused by lack of training and education c.unemployment caused by automation in the workplace d.unemployment this is due to normal turnover in the labor market

d