ECN 201, Fall 2014 Quizl Name MULTIPLE CHOICE. Choose the one alternative that b
ID: 1094227 • Letter: E
Question
ECN 201, Fall 2014 Quizl Name MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Refer to the information provided in Table 7.1 below to answer the questions that follow. Refer to Table 7.1. The labor force equals 14,000 people. 21,000 people. 18,000 people. 17,000 people. Refer to Table 7.1. The unemployment rate is 25.0%. 17.6%. 16.7%. 14.3%. Refer to Table 7.1. The labor- force participation rate is 75.0%. 80.9%. 66.7%. 77.8%. Consider the data above for a simple economy. Refer to Table 9-1. The unemployment rate for this simple economy equals (100/L5,000) x 100. (100/20,000) x 100. (100A,100) x 100. (100A,000) x 100. Refer to Table 9-1. The labor force participation rate for this simple economy equals (1,100/15,000) x 100. (1,000/15,000) x 100. (1,000/1,100) x 100. (1,100/20,000) x 100. A student who just graduated from college but has not found a job would most likely be seasonally unemployed. cyclically unemployed. frictionally unemployed. structurally unemployed. A lumberjack loses his job because timber cutting restrictions were imposed by the EPA to protect the spotted owl habitat. This lumberjack would be frictionally unemployed. seasonally unemployed. structurally unemployed. cyclically unemployed. Janae was fired from her job with Microsoft in the 2008- 09 recession. Janae's unemployment 8) would be best classified as structural unemployment. frictional unemployment. natural unemployment. cyclical unemployment. During a recession, cyclical unemployment and real GDP increases; decreases increases; increases decreases; increases does not change; decreases The natural unemployment rate includes frictional, structural, and cyclical unemployment. is equal to zero when there are no economic fluctuations. is equal to cyclical unemployment. includes only frictional and structural unemployment.Explanation / Answer
1) D. 17000
2) B. 17.6%
3) B. 80.9%
4) C.
5) A
6) C
7) C
8) D
9) A
10) C
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