Seasonal unemployment results from A) unrealistic expectations about the availab

Question

Seasonal unemployment results from

A) unrealistic expectations about the availability of employment
B) being in the wrong geographical location
C) taking the time to find the best job
D) decreases in demand for labor at certain times of the year
E) periodic increases in business activity

15.

Different demographic groups

A) have identical durations of unemployment
B) have identical unemployment rates
C) are weighted equally in the official unemployment rate
D) have different unemployment rates
E) are weighted more heavily in the official unemployment rate if they have larger unemployment rates

16.

Which of the following factors makes the official unemployment rate an overstatement of the actual level of unemployment in the economy?

A) exclusion of discouraged workers
B) inclusion of those only working part-time
C) inclusion of those who are overqualified for their current jobs
D) exclusion of those who work at a family business
E) inclusion of those who pretend to look for work in order to qualify for welfare programs

17.

During periods of inflation, all prices increase.

A) True
B) False

18.

Inflation rates differ across regions mostly because of differences in housing prices.

A) True
B) False

19.

The view that union wage demands may be a source of inflation would be best associated with the

A) supply shock view of inflation
B) demand pull view of inflation
C) cost push view of inflation
D) demand push view of inflation
E) monetary view of inflation

20.

Juanita earned a B.S. in engineering and went to work for a defense contractor. When the government cut spending, Juanita and 99 others were laid off. The only other business in the town is growing grapes, but the growers refuse to hire laid-off engineers, knowing they will leave at the first opportunity. The unemployment Juanita is experiencing is

A) cyclical
B) structural
C) seasonal
D) frictional
E) voluntary

21.

In periods of high inflation,

A) people want to hold as much money as possible
B) the purchasing power of money is increasing
C) nobody wants to work and earn income
D) high nominal interest rates are likely to result
E) nobody wants to buy goods

22.

Suppose the official unemployment rate is 10 percent. We can conclude without question that

A) the same 10 percent of the people in the economy were out of work for the entire year
B) one of every ten people in the labor force is currently unemployed
C) the same 10 percent of the people in the labor force were out of work for the entire year
D) every person in the labor force was out of work for 10 percent of the year
E) 10 percent of the people in the economy were each out of work for 10 percent of the year

23.

Which of the following types of unemployment is the hardest to reduce?

A) cyclical
B) structural
C) voluntary
D) involuntary
E) speculative

24.

Which of the following is not considered a cost of unemployment?

A) loss of self-respect by those who are unemployed
B) waste of the economy's resources
C) negative psychological effects on those who have lost their jobs
D) higher inflation rates
E) loss of income by those who are unemployed

25.

Since the end of World War II, the U.S. unemployment rate

A) has displayed a downward trend
B) has displayed an upward trend
C) has remained almost constant from year to year
D) was generally higher during the 1970s than during the 1990s
E) has not displayed any clear pattern

Explanation / Answer

A

E

C

T

F

C

B

C

A

D

C

D

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