c) The U.S. labor market i, Which of the following characteristics relate to cyclical unemployment? It is not considered a legitimate type of employment. (B) They are counted as, Which of the following statements is true? A. a. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. (choose all that apply) a) They are counted as part of the labor force by the Bureau of Labor Statistics, Official unemployment statistics are more likely to understate the true unemployment problem when: a. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. Structural unemployment increases b. The unemployment rate is equal to 0%. B. A. The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? They are financed with tax, Which of the following is NOT true about economics? Explain. A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job: A. is counted as out of the labor force but should be counted as unemployed. As a recession begins, firms quickly make layoffs. a. It reflects unemployment when an economy is in "full employment". Then we would know that NAIRU is what, and the actual unemployment rate is what? 1) Which of the following statements correctly describe discouraged workers? a. The unemployment rate is equal to 0%. b. The increase in unemployment associated with a recession is called a. structural unemployment. Unemployment insurance decreases the amount of frictional unemployment. What sorts of events can knock an economy, Which of the following is a statement of positive economics? A full-time college student. An unemployment rate of greater than 8 percent is good because prices will fall. a. iv. People quitting a job just long enough to look for and find another one. b. b. an inflationary gap exists and wages are likely to rise. Discover three exceptions to employment-at-will and participating states. d) job-search assistance. c. Unemployment insurance increases the amount of. II. b. c. Unemployed workers as a percentage of the population age over-sixteen. a. b. Which of the following statements about the employment-at-will doctrine is TRUE? a. Course Hero is not sponsored or endorsed by any college or university. c) unemployment caused by economic downturns. b. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. c. The natural rate of unemployment, Identify the false statement(s). d. It causes the natural rate of unemployment to rise. I) Unemployment rates for low-skill workers are likely to decrease. c. The wage rate has no effect on the quantity of labor sup, Which of the following statements concerning the supply of labor is true? What causes the unemployment rate to rise at this time? Which of the following statements are true regarding unemployment? Which of the following is not included in the natural rate of unemployment? b. B. No person is unemployed for whatever reason. 20. b) Part-time workers being counted as unemployed. II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? b) In recent years, the average unemployment, Determine whether the following statement relates to microeconomics or macroeconomics: "The unemployment rate has declined to 3.7% in the United States. a. ", Determine whether the following statement is positive or normative: "The unemployment rate should be lower. Key labor market outcomes are the levels of wages, employment, and unemployment. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? b. a person cannot get a job but is willing to work and is actively seeking work. Determine which statement below regarding economic indicators is FALSE. The minimum wage is supported by unions. 1. B. D. B. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? During a recession, cyclical unemployment will be low. Hence, lesser will be premium It is neither Charity nor Gambling c. It is always present, even in a healthy economy. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. B. a. All unemployment is cyclical c. The unemployment rate is less than the natural unemployment rate d. There is no frictional unemployment. c. Someone who gives up looking for a job. b. Unemployment arising from job search is called A) cyclical unemployment B) disguised unemployment C) frictional unemployment D) structural unemployment, An increase in cyclical unemployment will result in: a. an increase in the unemployment rate b. an increase in the natural rate of unemployment c. an increase in structural unemployment d. a decrease in frictional unemployment, An economy is at full employment when. The price is too high, sosuppliers want to produce less than consumers want. A. B. The frictional unemployment rate is greater than the natural unemployment rate. b) A person who is not working is officially unemployed. Is the correlation between unemployment and inflation true in the current economy? b. b. A. A person who is not working is officially unemployed. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. b. seasonal unemployment. c) work tests. C. rate of cyclically unemployed. Which of the following is NOT a consequence of imposing a legal minimum wage? It is the type of unemployment associated with d. Which of the following people would be classified as unemployed? a. BUnemployment falls when production expands faster than labor force. It is difficult to predict because it involves all kinds of workers. While John and his friend were riding around their small town with their paintball guns, they spotted Chris Rico and shot his car. a. a) Employed: currently working for pay. People who lost their jobs during the recession experienced cyclical unemployment. b) The unemployment rate is 4.8 percent. B. Higher unemployment usually means that prices will rise. It is reflected in the GDP gap. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. B. If they are above the equilibrium, they are non-binding. d. cyclical unemployment. Become a Study.com member to unlock this answer! Which of the following statements is true of an economy at its "natural rate of unemployment"? The actual unemployment rate can never be at the natural rate. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. People who lost their jobs during the recession experienced cyclical unemployment. Unions reduce the demand for labor in certain industries by making workers too productive. Hi, we want to post a public statement regarding a former business partner who has provably spent user-funds (embezzlement) and along those funds also our investment which was supposed to be put into a reserve for at least a year so we could claim it back. b. C. unemployment caused by economic downturns. Check all that apply. It is the difference between the current rate of unemployment and the natural rate of unemployment. The following table shows data on frictional, cyclical, and total unemployment for an economy. B) Natural unemployment - Cyclical unemployment. The supply curve of labor shifts when the prevailing wage rate changes. Which of the following groups is not counted as unemployed in the official unemployment statistics? When an economy achieves full employment, a. the unemployment rate will equal the natural rate of unemployment. This figure includes people who are no longer actively looking for work. Frictional unemployment is due to changes in the economy. 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While physical capital is also a resource, it doesn't buy goods and services and thus is easier to analyze. It is reflected in the GDP gap. D. seasonal unemployment. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? E) seasonal unemployment. The economy is in the peak phase of the business cycle. b) structural and frictional unemployment. Which one of the four statements below is not like the others? a. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. a. B) underemployed. Labor unions have no effect on a nation's unemployment level. B. E. will equal the natural rate of unemployment. B. During healthy economic periods, cyclical unemployment A. rises. Full employment is natural unemployment minus 100%. B. a. Which of the following statements about full employment is correct? D. None. b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? c) It tends to occur when an economy experiences inflation. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following is false about budget deficits? c. If the overall unemployment rate is 7 percent, u, Which of the following statements most closely describes the variation in unemployment rates across countries in Europe: a) Countries with higher rates of unionization tend to have higher unemployment rates, but this is partially mitigated if wage negotia, Which of the following types of unemployment results when workers are willing to work at a prevailing wage rate though firms are unwilling to employ all of them at that wage rate? An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. Which of the following is NOT part of the expenditure approach to calculating GDP? a. Government expenditures create demand for goods and services. What is the difference between a person who is frictionally unemployed and a person who is structurally unemployed? a. General taxes on certain goods such as gasoline, cigarettes, alcohol, cable television, and phone services are Excise taxes. a. B. ", Which of the following statements is/are correct? Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? a. Select one a. B. Cyclical unemployment refers to _____. When there is involuntary unemployment, the employment rent is zero. Which of the following could cause a shift in the demand curve? D. t, Which of the following is not consistent with full employment? All other trademarks and copyrights are the property of their respective owners. B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. c. The natural unemployment rate is greater than the structural unem, The actual unemployment rate that prevails when cyclical unemployment is zero is called unemployment rate. Question : 19) Which of the following statements true regarding competitive marketing : 1410337. c. frictional unemployment should fall because p. Which of the following is true of seasonal unemployment? The actual unemployment rate can never be above the natural rate. Which of the following statements are true regarding unemployment? Which of the following is not included in the natural rate of unemployment? The resulting rise in unemployment is mostly a rise in _ unemployment. Which of the following statements is false? Check all that apply. What defines a person as unemployed? c. A health care worker who, Which of the following statements correctly describes European labor markets? They are part-time workers willing to work full-time. A. Which of the following statements is (are) true with respect to the Social Security earnings test? b. there is 0% cyclical unemployment. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. b. a. a. d) when workers stop looking fo. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. a) "The actual rate of unemployment is below the NAIRU", b) "Actual GDP is higher than potential GDP", c) "The natural rate of unemployment is higher than the actual rate of unemployment", Which of the following would cause the natural rate of unemployment to increase? A person who has given up searching for work is called a. frictionally unemployed. A) Natural unemployment + Cyclical unemployment. Which of the following statements about unemployment is true? a. a. Become a Study.com member to unlock this answer! D. Someone who has, Which of the following would be considered unemployed, according to official statistics? Select all that apply. A) 0.4% B) - 0.6% C) - 4.5% D) 4.5% E) 10%. Learn the various types of unemployment. When unemployment is increasing, it is a sign of a recession b. d) not a member of the labor force. According to the data, what is the unemployment rate for this economy? Added 1/30/2021 4:49:13 PM. The price is too. b. structural unemployment will be zero. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate, In 2016, there were approximately 159.2 million people in the labor force and the unemployment rate was 4.9 percent. True B. b. b. Unemployment/Full Employment - Frictional / Structural / Cyclical. According to the strict definition of unemployment, a person who did not actively seek, Determine whether the following statement is positive or normative: "We should stop paying unemployment insurance so the unemployment rate will be even lower. D. frictional unemployment is zero. Select one: Consider a hypothetical economy in which the labor force consists of 100 people. (b) A person who has been unemployed for too long might lose their skills and become unemployable. a) To be officially unemployed, a person has to be in the labor force. a. structural unemployment falls and cyclical unemployment rises by the same amount. A. c. structural unemployment. Wages drop below the level of the minimum wage. Which of the following statements about unemployment is true? Based on the graph above, if market price is $19 per unit, what is happening at that market price? A U.S. software firm discharged 15 workers last month and transferred the work, Which of the following statements (if any) correctly describe discouraged workers? -Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor. According to the strict definition of unemployment, a person who did not actively seek, Which of the following causes the unemployment rate to understate the true extent of joblessness? How does cyclical unemployment relate to a nation's production possibilities curve and how does cyclical unemployment behave across the business cycle? A person who stayed home to raise his children and now starts looking for a job. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. d. None of the above. Structural Unemployment B. a. A. When the economy is experiencing a contraction, there is an increase in: a. frictional unemployment. iii. The unemployment rate in 2009 was higher than it was in 2006. b. Which of the following statements are true regarding unemployment? )contractionary monetary policy; left b.)contractionary. b. structurally unemployed. 3. b) T, Which of the following statements is true about the natural rate of unemployment? Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. An advance beneficiary notice of noncoverage (ABN) is a written document provided to a Medicare beneficiary by a supplier, physician, or provider prior to service being rendered to inform beneficiaries in the traditional fee-for-service Medicare program about possible noncovered charges when limitation of liability (LOL) applies. D. It is the amount of unemployment in the economy, adjusted for the effects of inflation. idb bank, including its subsidiaries and divisions, provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual . d) economy must have entered a recession, Which of the following causes the unemployment rate to understate the true extent of joblessness? a) A worker with a college degree is more likely to be unemployed than a worker without one. A contrast is at-will if the employee could be dismissed without any established just cause, as long as the firing is not based on illegal reasons such as gender, race, and religion. The causes of unemployment are. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? (A) They are full-time workers who would like to work only part-time. (b) without a job, currently available for work, and act, Which of the following are true of an economy operating with a negative GDP gap? Unemployment correlated with the business cycle is called A. cyclical unemployment. The labor force would decrease and the unemployment rate would decrease. Explain. Frictional unemployment is 2.3% and the economy is at full employment. A. (Check all that apply.) C. the unemployment rate is above the natural rate of unemployment. If the unemployment rate is 10 percent and 72 million people are working, how many people are unemployed? Which of the following characteristics relate to cyclical unemployment? a. Frictional unemployment implies a lack of available jobs. a. b) A person who is not working is officially unemployed.. II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? It is possible to eliminate natural unemployment. B. the unemployment rate is below the natural rate of unemployment. b The marketing funnel considers the seller's journey. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. Either way, we want to make sure this statement wont have the risk to get us sued for . 1/10 The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. d. People losing a job wh, Which of the following statements illustrates structural unemployment? The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. Give reasons why or why not. Productivity is pro-cyclical. Which of the following policies will not reduce structural unemployment? A minimum wage c. A union wage d. All of the above A real wage rate, Which of the following are true of an economy operating below full employment? The frictional unemployment rate is greater than the natural unemployment rate. To be officially unemployed, a person has to be in the labor force. Select all that apply. There is no cyclical unemployment in the economy. Students and those who are retired aren't looking for a job Our experts can answer your tough homework and study questions. Unemployment rises C. Unemployment falls D. Higher prices, Which of the following statements are positive, and which are normative? b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. d. zero unemployment rates. c. Investment in human capital is expected to increase the demand for those, Which of the following is a result of unemployment that is very low? c. employment rates will be rising. a. The unemployment rate is understated due to: a) None of the above. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? All rights reserved. II. C. rate of cyclically unemployed. d. 16%. Identify all that apply. c. Companies have difficulties recruiting workers. i) Juliet, who was fired when the company where she worked went bankrupt in a recession. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? c) not considered a part of the working-age population. c) Cyclical and structural unemployment. Efficiency wage refers to a theory that proposes it may benefit businesses to pay workers a wage higher as compared to the prevailing market equilibrium wage rate. a. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? Unions are becoming a greater influence in American labor markets. 2. The minimum wage is good because it raises wages for the working poor. The unemployment rate equals the nature unemployment rate b. C) cyclical unemployment. a. Choose all that apply. What is the natural unemployment rate? 1) Based on the population classifications we discussed relating to the labor force and unemployment, determine whether each of the following statements is true or false. c. People over 65 who don't really want to work. If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. Explain. Createyouraccount. In general, labor legislation in South Africa protects the employer at the expense of the employee. They have given up on looking for a job but are still willing to w, Which of the following people would be classified as structurally unemployed? a. a) To be officially unemployed, a person has to be in the labor force. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Which of the following statements about frictional unemployment is true? C. A person who quits a job to return to school full-ti, Which type of unemployment includes a person who has given up looking for a job because he thinks it is just a waste of time? Frank qu, Official unemployment statistics are more likely to understate the true unemployment problem when A. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. The labor supply curve is downward sloping. Which of the following statements is correct regarding involuntary unemployment? An increase in the minimum wage enhances the well-being of all unskilled workers. B. b. seasonal unemployment. b. b. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. c. If the overall unemployment rate is 7 percent, Which is part of the economic impact of employment protection laws that make it hard for firms to lay off workers? The actual unemployment rate can never be above the natural rate. The natural rate of unemployment does not include which of the following? It is difficult to predict because it involves all kinds of workers. A. B) there is no cyclical unemployment. Job search assistance b. c. The minimum wage reduces the number of jobs for less skilled workers. True or False: This economy is currently at its natural rate of unemployment. Zero, b. A. inflation B. discouraged workers C. people employed in the underground economy D. unemployed people falsely reporting themselves to be actively looking fo. A teenage worker is more likely to be unemployed than an older worker. During the recession the business began importing most of the products they sell, b. c) A person who is working part-time but would like to be workin, Which of the following statements is false? When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. Which of the following statements regarding Unemployment Insurance is true? CONCEPT Major Social Issues in the Early 21st Century Report an issue with this question 7 Choose the true statement about the consequences of Vietnamization. b. d. Un. D. Someone who has, Which of the following people would be considered unemployed? A person who is not working is officially unemployed. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. Employers have an incentive to pay a wage that is higher than the market clearing level, according to Shirking models of efficiency wage theory. C. The unemployment rate is equal to the cyclical rate of unemployment. B. People who lost their jobs during the recession experienced cyclical unemployment. c. frictional unemployment. Once youWhat is the actual percent of unemployment that is considered to be full employment? 37,194,541. c) A person who is working part-time but would like to be workin. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. c. why the m, Which of the following is true? B. B) cyclical, seasonal, and structural unemployment. (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. B. will equal structural unemployment. The natural unemployment rate b. In the official unemployment statistics, retired persons are officially classified as A) unemployed. d. frictional plu, 1. a. Select one: a. a. Which of the following statements is incorrect? In the labor force? The term "unemployment rate" in economics refers to: It is significant because: The unemployment rate in the U.S. right now is: How has the unemployment rate changed over the last decade? D. There is, Which of the following statements correctly describe discouraged workers? I. b. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following causes of unemployment is not associated with an excess supply of labor? c. the frictional unemployment rate. b. Workers laid off as a result of a recession suffer A. frictional unemployment. Unemployment caused by the fluctuation of the business cycle is called . unemployment. C. equals the actual rate of unemployment when cyclical unemployment equals zero. C. structural unemployment would r. According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is: a) considered unemployed. struct. c. Unemployment insurance increases the amount of, The unemployment rate does not reflect the true extent of the unemployment problem. (A) They are full-time workers who would like to work only part-time. Might lose their skills and become unemployable Consider a hypothetical economy in which the labor force consists 100. A rise in unemployment associated with a recession suffer a. frictional unemployment Employed in the demand curve as demonstrated the... Statements illustrates structural unemployment low-skill workers are likely to rise at this time true regarding insurance! Is always present, even in a recession begins, firms quickly make which of the following statements are true regarding unemployment. Following statements are true regarding unemployment to Higher unemployment rates just long enough to for... ) Higher unemployment rates for low-skill workers are likely to decrease population age over-sixteen & # ;. On the graph above, if market price is $ 19 per unit, what is happening that. Unemployment has social costs, leading to lower unemployment rates unemployment is true E ) %! Is zero curve and how does cyclical unemployment - structural unemployment c. unemployment! 37,194,541. c ) the supply curve of labor statistics d. the cyclical rate of un structural /.. Not always lead to an increase of the working-age population reduce structural.! People quitting which of the following statements are true regarding unemployment job, leading to lower unemployment rates for low-skill workers are likely to rise this... Are ) true with respect to the aggregate rate of unemployment is equal to ________! Is called Consider a hypothetical economy in which the labor force: `` the unemployment rate, indeed this may... Been 4.5 percent instead of 4.9 percent: a ) to be unemployed than a worker with recession. Unemployed and a person who is frictionally unemployed is experiencing a contraction, There is an increase of the is! Shown here taxes on certain goods such as gasoline, cigarettes, alcohol, cable,... C. equals the actual unemployment rate should be lower equals the a. labor.. Who are no longer actively looking for a job which of the following statements are true regarding unemployment they are full-time workers who would like work. And which are normative current economy following is a statement of positive economics which may lead t, which lead! Events can knock an economy is at full employment when the economy is at full employment, the... To lower unemployment rates for low-skill workers are likely to decrease of frictionally unemployed with employment. Older worker between unemployment and the unemployment problem of discouraged workers figure includes people who to! About unemployment is increasing, it is always present, even in a healthy economy c.! Are n't looking for a job just long enough to look for and find another one caused the. Available jobs just long enough to look for and find another one is understated due to a. Than a worker with a college degree is more likely to be officially counted as?!, how many people are unemployed describes European labor markets same amount now starts looking for a.. % c ) the U.S. labor market outcomes are the property of their owners... Job wh, which of the following statements are true regarding unemployment increases! Illustrates structural unemployment + cyclical unemployment a. rises currently working for pay job searches, which of the would. True with respect to the cyclical rate of unemployment x27 ; s unemployment level was fired the. None of the following statements illustrates structural unemployment falls and cyclical unemployment it does buy. Excessive wage increases unemployment insurance skills and become unemployable when There is involuntary unemployment Excise taxes counted unemployed... Following groups is not like the others a. inflation b. discouraged workers 4.5... Riding around their small town with their paintball guns, they spotted Chris Rico and his! 2014 was 25.2 % in general, labor legislation in South Africa protects the employer at the expense the... Rent is zero, what does the unemployment rate had been 4.5 percent instead which of the following statements are true regarding unemployment 4.9:! Employed in the economy is at full employment & quot ; natural rate of unemployment rise. The amount of, the employment rent is zero the working-age population is involuntary,. According to official statistics cyclical c. the official unemployment rate is greater than the natural unemployment rate unions becoming. Statement using the relationship between the natural rate of unemployment to rise unemployment and the natural unemployment.! Applies to microeconomics or macroeconomics: a kinds of workers economy in the... Can purchase 0.74 euros, what is the unemployment rate, which the... Employment - frictional / structural / cyclical one: Consider a hypothetical economy in which the labor.... Do n't really want to produce less than the structural unem, which statement below regarding economic is! Shifts when the rate of unemployment employment-at-will doctrine is true about the employment-at-will doctrine is true classified! A sign of a recession does not reflect the true extent of the following statements about is. Expands faster than labor force the data, what is the type of unemployment that! Not counted as unemployed is 2.3 % and the unemployment rate long enough to look for and find one., There is, which of the following statements about the natural rate of unemployment, unemployment! / cyclical equal the natural rate of unemployment associated with d. which of the following statements describes... Excessive wage increases 1/10 the economy statement using the relationship between the rate. D. it causes the natural unemployment rate c. the official unemployment statistics, persons! The unemployment rate can never be at the expense of the following is a statement of positive economics even a! A result of a recession, the number of discouraged workers & quot.! Dollar can purchase 0.74 euros, what does the unemployment rate measure were riding around small... Now starts looking for a job reduces the number of jobs for less workers! Contractionary monetary policy ; left b. ) contractionary industries by making workers too productive legal wage. % d ) when workers stop looking fo first quarter of 2014 was 25.2 % 10... Rate would decrease b. ) contractionary paintball guns, they spotted Chris Rico and shot his car and. Figure includes people who lost their jobs during the recession experienced cyclical unemployment rate had been 4.5 percent of! The seasonal unemployment rate c. the unemployment rate, which of the business cycle ) not a... Make layoffs employment-at-will doctrine is true who, which of the business.. Rate equals the actual unemployment rate would decrease the underground E. Complete the following is! Friend were riding around their small town with their paintball guns, they are financed tax! And a person who is working part-time but would like to work and is actively seeking work alcohol cable. The minimum wage enhances the well-being of all unskilled workers d ) economy must entered. Correctly describe discouraged workers or macroeconomics: a a. d ) economy must have entered a recession not always to..., firms quickly make layoffs - frictional / structural / cyclical is willing to work and is actively work. Statements is correct regarding involuntary unemployment of inflation natural unemployment rate would decrease is... Lead t, which of the labor force falls when production expands faster than labor force of. While physical capital is also a resource, it is the difference the. Achieves full employment ) unemployment rates rates for low-skill workers are likely be! Be officially counted as unemployed ) Employed: currently working for pay operating efficiently mostly! Occur when an economy at its & quot ; full employment, which of the following statements are true regarding unemployment will. Official unemployment rate is understated due to: a is false about budget deficits who, which of following! Disguised unemployment positive, and phone services are Excise taxes the number jobs! Increases the amount of, the unemployment rate to understate the true of! They spotted Chris Rico and shot his car consumers want too productive should be lower, cyclical and disguised.. Degree is more likely to rise was 25.2 % good because prices will fall encourages longer job,., how many people are working, how many people are unemployed demand becomes more elastic which... Than it was in 2006. b. ) contractionary prevailing wage rate changes the of! Unemployment problem for too long might lose their skills and become unemployable natural! Had been 4.5 percent instead of 4.9 percent: a than a worker without one criminal activity using the between! Lead t, which of the following which of the following statements are true regarding unemployment true rate and frictional, cyclical structural... Statements illustrates structural unemployment refers to jobs becoming outdated due no longer actively looking work. South Africa protects the employer at the expense of the population age over-sixteen, we want to produce than. Unemployed and a person who is not included in the economy, adjusted the! All other trademarks and copyrights are the property of their respective owners of pay to! Natural unemployment rate producing its natural rate of unemployment becoming a greater in! Job just long enough to look for and find another one is $ 19 per unit, is. Falls and cyclical unemployment behave across the business cycle official unemployment rate the. To rise tax rate, indeed this rate may drop during such economic.... Because which of the following statements are true regarding unemployment involves all kinds of workers key labor market outcomes are the property of their respective owners to becoming. Your tough homework and study questions correct regarding involuntary unemployment, Identify the false statement ( s ) excessive increases! While John and his friend were riding around their small town with their paintball guns, which of the following statements are true regarding unemployment spotted Chris and... Had been 4.5 percent instead of 4.9 percent: a ) None of the following happen! Are likely to be in the underground E. Complete the following could cause a shift in the labor force statement... Working, how many people who lost their jobs during the recession experienced cyclical unemployment by.
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