1-50 unemployment islare always present in a dynamic economy a Seasonal b. Frict
ID: 1125945 • Letter: 1
Question
1-50 unemployment islare always present in a dynamic economy a Seasonal b. Frictional c. Structural d. Frictional and structural e. Seasonal, frictional, and structural 22-54. GDP in an economy is $11,050 billion. Consumer expenditures are $7,735 billion, govenment purchases are $1,989 bilion, and gross investment is $1,410 billion. Net exports are A +$53 billion B.-$A7 billion C.-$84 billion D. -$161 billion 23-26. The official unemployment rate is the number of unemployed people divided by the a. number of employed people. b. total size of the population. c. size of the noninstitutionalized population d. size of the labor force e. size of the noninstitutionalized population, age 16 or older 24-29. In the official labor statistics, discouraged workers, those who have quit looking for job, are a counted as employed b. counted as unemployed c. included in the labor force. d. not included in the labor force. e counted as part of the labor force but not fully employed 25-95. At the equilibrium price, a there is a tendency for the price to rise b. there is no pressure on price to rise or fall. c quantity demanded exceeds quantity supplied. d. quantity supplied exceeds quantity demanded. e there is a tendency for the price to fall. 26-92. A market is in equilibrium when a· changes in demand are equal to changes in Supply b. the amount consumers wish to purchase is equal to the amount producers wish to produce c. the determinants of supply are equal to the determinants of demand d. quantity demanded is equal to quantity supplied e consumer preferences are equal to production costs 7-45. Which of the following people is cyclically unemployed? a. "1 quit my job last week and will start a new one next week. "Ilost myjob because I was replaced by a robot. Twas laid off atthe Ford plant because car sales are down ite recession." "guit lookingfor work after unsuccessfully trying tofind ajob for two years." b c d·Explanation / Answer
1. Ans-e
The frictional Unemployment means employee or employer takes time to find a new and appropriate match for a given job.
Seasonal Unemployment exist when an employee changes the job as per the season in the economy. for eg. A labour may work in farms during the harvesting time however will work with some factory during non harvesring period in a given location.
Structural unemployment exist when a dynamic economy demands more skills to be aquired by the labour.
For eg. Due to introduction of a technolog y in the production function, employer demands skilled labour for a given job. So insuch case unemployment exist in the economy.
2 Ans. GDP =C+I+G+X
C= consumption, I=Investment, G=Government purchase, X=net exports.
11050=7735+1989+1410+ X
So net exports are -$84 billion ie answer c
3.Ans. Official Unemployemnt rate = Number of unemployed ÷ total labour fource
So answer is option d ie size of labour force
4.Ans. The one who quit their job is considered as unemployed
So answer is option b.
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