Employment
To be counted as employed by the BLS, in the week before the survey the person must have worked for pay ________. A. at least 5 hours B. more than 20 hours C. 40 hours D. at least 1 hour E. None of the above are right because the BLS counts as employed anyone who works volunteer hours at a non-profit institution
at least 1 hour
The natural unemployment rate occurs A.when the structural unemployment rate equals zero. B. when the seasonal unemployment rate equals zero. C. when the unemployment rate equals zero. D. at the full employment level of unemployment. E. when the frictional unemployment rate equals zero.
at the full employment level of unemployment
As firms search for the best employee to fill an opening and the unemployed search for the job that best fits their skills, the economy experiences A. frictional unemployment. B. cyclical unemployment. C. changes in the business cycle. D. seasonal unemployment. E. structural unemployment.
frictional unemployment
Which of the following would be considered unemployed as part of normal labor market turnover? i) Juliet, who was fired when the company where she worked went bankrupt in a recession. ii) Hannah, who quit her job to find one that better suited her skills. iii) Charlotte, who started looking for a job upon graduation from high school. A. i and iii. B. i, ii and iii. C. i and ii. D. ii and iii. E. iii only.
ii and iii
When the unemployment rate is greater than the natural unemployment rate, real GDP is A. unrelated to potential GDP. B. greater than full employment GDP. C. greater than potential GDP. D. equal to potential GDP. E. less than potential GDP.
less than potential GDP
As a result of the oil price hikes and international competition in the 1970s, ________. When governments and businesses downsizing in the 1990s, ________. A. cyclical unemployment decreased; frictional unemployment decreased B. seasonal unemployment decreased; frictional unemployment increased C. cyclical unemployment increased; frictional unemployment increased D. frictional unemployment increased; structural unemployment increased E. structural unemployment increased; structural unemployment increased
structural unemployment increased; structural unemployment increased
How would you best describe a manufacturing employee who has been fired because he was replaced by a robot (new technology) and does not have the skills necessary to help operate the robot? A. entrant/reentrant B. structurally unemployed C. cyclically unemployed D. withdrawal E. job leaver
structurally unemployed
Structural unemployment includes people who become unemployed from A. going back to school. B. changes in the seasons. C. normal changes in the labor force. D. changes in the business cycle. E. technological changes.
technological changes
Based on the above table, the unemployment rate is A. 10 percent. B. 11.1 percent C. 8.6 percent. D. 5.4 percent. E. 7.1 percent.
10 percent
Which of the following is true? A. Part-time workers are all those who work less than 40 hours per week. B. To be classified as employed, you must work at least 1 hour per week at a paid job or 15 hours or more as unpaid workers in your family business. C. To be classified as employed, you must be a full-time worker at a paid job. D. To be classified as employed, you must work at least 20 hours per week at a paid job. E. If you are not working and turn down a job offer in the previous week, you are no longer classified as unemployed.
To be classified as employed, you must work at least 1 hour per week at a paid job or 15 hours or more as unpaid workers in your family business
In calculating the unemployment rate, part-time workers over the age of 16 are counted as A. unemployed. B. employed. C. not in the labor force. D. employed if they are part-time workers for noneconomic reasons and unemployed if they are involuntary part-time workers. E. not in the working-age population.
employed
The working-age population includes A. employed and unemployed people over the age of 16. B. people over the age of 16 who are in the Army. C. those in jails and hospitals. D. only employed people over the age of 16. E. youngsters between the ages of 14 and 16 if they are working at least part time.
employed and unemployed people over the age of 16
Which type of unemployment is a permanent and healthy phenomenon in a dynamic economy? A. unavoidable B. structural C. seasonal D. cyclical E. frictional
frictional
Higher unemployment benefits create A. incentives for longer job searches and higher frictional unemployment. B. higher seasonal unemployment as workers switch jobs. C. higher structural unemployment as firms are more likely to fire workers. D. a lower number of job leavers. E. incentives for shorter job searches and higher structural unemployment.
incentives for longer job searches and higher frictional unemployment
In measuring the unemployment rate, part-time workers are ________ and discouraged workers are ________. A. included as employed; included as unemployed B. included as employed; excluded C. excluded; included as unemployed D. excluded; excluded E. included as unemployed if they are involuntary part-time workers; excluded
included as employed; excluded
The Bureau of Labor Statistics (BLS) compiles information about employment by A. contacting each of the 50 states' Departments of Labor. B. determining the average estimate of labor market specialists around the nation. C. performing a census of every household in the nation. D. performing a monthly survey of 60,000 households. E. performing a quarterly survey 6,000,000 households.
performing a monthly survey of 60,000 households
Frictional unemployment is the result of A. changing weather throughout the year. B. an economic recession. C. the normal process of jobs being created and destroyed. D. people not getting along (having friction) with their employers. E. the economic decline of major industries.
the normal process of jobs being created and destroyed
Full employment is the level of unemployment that occurs A. when frictional, structural, and cyclical unemployment are zero. B. when cyclical unemployment is zero. C. when frictional, structural, seasonal, and cyclical unemployment are zero. D. when everyone looking for a job has a job. E. when frictional and structural unemployment are zero.
when cyclical unemployment is zero