Question 1 (3 points) The unemployment rate: Question 1 options: Excludes studen

Question

Question 1 (3 points)

The unemployment rate:

Question 1 options:

Excludes students who are not part of the labor force, but does include discouraged workers who live at home with their families.

Includes individuals who lose jobs as the domestic goods they produce are replaced by imports.

Is calculated as the total number of people without jobs divided by the total population.

Is the ratio of those who are voluntarily unemployed to those who are involuntarily unemployed.

Save

Question 2 (3 points)

If the unemployment rate is reported to be 4.2%. Whom of the following would be counted as unemployed in this statistic:

Question 2 options:

A man who has been laid off from his job.

A women executive working at IBM.

A retired man.

A student who quits her job at the beginning of the semester.

Save

Question 3 (3 points)

What category of unemployment will increase the most within the first year of the recession:

Question 3 options:

Frictional.

Seasonal.

Structural - regional.

Cyclical.

Save

Question 4 (3 points)

Which of the following is not true:

Question 4 options:

Cyclical unemployment is unemployment that is in excess of that associated with the full employment of employment.

A real estate agent who leaves a job in Texas and searches for a similar, higher paying job in California is considered to be cyclically unemployed.

A new college graduate looking for his or her first professional job may experience frictional unemployment.

An unemployed leather maker is most likely to be considered to be structurally unemployed.

Save

Question 5 (3 points)

Unemployment linked to recessions is called ________ unemployment.

Question 5 options:

Structural.

Cyclical.

Full.

Frictional.

Save

Question 6 (3 points)

Periods of recession are likely to be marked by:

Question 6 options:

Rising unemployment.

Constant employment.

Constant unemployment.

Increasing employment.

Save

Question 7 (3 points)

The full employment rate of unemployment is:

Question 7 options:

Equal to zero.

Equal to the sum of frictional and cyclical unemployment.

The rate of unemployment that exists during recessions.

Consistent with the existence of frictional or voluntary unemployment.

Save

Question 8 (3 points)

In 1996, the government changed welfare laws to give welfare recipients a maximum of two years of welfare benefits, but also, education and training to improve individual skills. This policy helped to reduce what type of unemployment:

Question 8 options:

Structural - regional.

Cyclical.

Structural - occupational.

Frictional.

Save

Question 9 (3 points)

The consumer price index (CPI) measures inflation by:

Question 9 options:

Taking a random sample of goods and services and calculating how their prices change.

Calculating how production costs change for producers over time.

Measuring the prices changes for all goods and services consumed to insure an accurate calculation.

Looking at how prices change over time for a market basket of goods.

Save

Question 10 (3 points)

Demand-pull inflation is consistent with:

Question 10 options:

Increasing inventories as consumers buy fewer goods.

Weak economic growth and increasing unemployment rates.

An inward shift in the supply curve.

Rapid growth in consumer incomes and purchases of goods and services.

Save

Question 11 (3 points)

Hyperinflation is typically the result of:

Question 11 options:

An increase in production costs for the typical firm.

An increase in demand.

A restrictive monetary policy.

Excessive printing of money by the government to pay debts and finance activities.

Save

Question 12 (3 points)

If the economy goes into a recession, we can expect:

Question 12 options:

A decrease in the supply of goods, higher prices, an increase in the demand for labor and higher wages.

A decrease in the demand for goods, lower prices, a decrease in the demand for labor and lower wages.

An increase in the demand for goods, higher prices, an increase in the supply of labor and lower wages.

An increase in the supply of goods, lower prices, a decrease in the demand for labor and lower wages.

Save

Question 13 (3 points)

If the economy goes into a recession, we can expect:

Question 13 options:

A decrease in the supply of goods, higher prices, a decrease in the demand for loanable funds (savings) and lower interest rates.

An increase in the demand for goods, higher prices, an increase in the supply of loanable funds (savings) and lower interest rates.

An increase in the supply of goods, lower prices, an increase in the supply of loanable funds (savings) and lower interest rates.

A decrease in the demand for goods, lower prices, a decrease in the demand for loanable funds (savings) and lower interest rates.

Save

Excludes students who are not part of the labor force, but does include discouraged workers who live at home with their families.

Includes individuals who lose jobs as the domestic goods they produce are replaced by imports.

Is calculated as the total number of people without jobs divided by the total population.

Is the ratio of those who are voluntarily unemployed to those who are involuntarily unemployed.

Explanation / Answer

1. Unemployment rate = No. of unemployed persons / Labor force

Here, labor force = no. of employed + no. of unemployed

No. of unemployed doesn't include discouraged workers and the students who are not part of the labor force. No. of unemployed includes individuals who lose jobs as the domestic goods they produce are replaced by imports. These people are considered as unemployed because they are still in labor force but they don't have any job.

Answer- Option B

2. A student and retired man are not in labor force and the woman working in IBM, she is employed. The man who has been laid off from his job will be counted as unemployed because he currently is in labor force and not having a job.

Answer - Option A

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.