c. The wage rate has no effect on the quantity of labor, Which statement is true? d) job-search assistance. Check all that apply. B. is counted as unemployed but should be counted as out of t, Which statement is true about unemployment insurance? 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? Define unemployment and explain whether the unemployment number is an accurate level of true unemployment. B) The union markup is relatively small for unionized firms in a competitive market. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. Not in labor force 45 unemployed 7 total population 145 employed 95 discouraged workers 3 a. what is the size of the labor force? d) not a member of the labor force. ". A. D. There is, The government sets an effective minimum wage for workers. Unemployment correlated with the business cycle is called A. cyclical unemployment. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? Real wage is cyclical. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? Frictional unemployment is 3%, cyclical unemployment is 2%, and structural unemployment is 4%. a.Federal law determines how income will be allocated between spouses in community property states. Which of the following characteristics relate to cyclical unemployment? a) It occurs even when an economy is producing at a point on its production possibilities frontier. Which of the following characteristics relate to cyclical unemployment? A. 1. ii) Hannah, who quit her job to find one that better su. When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. a. D. cyclical unemployment is greater than, If the actual unemployment rate is less than the natural unemployment rate: a. a recessionary gap exists and wages are likely to rise. b. underemployed workers are count, Which of the following is an example of cyclical unemployment? Frictional unemployment is due to changes in the economy. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. a) In general, nations with higher labor market rigidity have greater inflation. 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Which of the following statements are true regarding unemployment? A recent high school graduate looking for a first job. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? 37,194,541. b) job retraining. Which of the following would help reduce the amount of frictional unemployment? A person who is not working is officially unemployed. ", Which of the following is an example of an active labor market policy? Everyone who is looking for a job will have one. It is not considered a legitimate type of employment. The frictional unemployment rate is greater than the natural unemployment rate. It is difficult to predict because it involves all kinds of workers. 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. )contractionary monetary policy; left b.)contractionary. c. Companies have difficulties recruiting workers. The unemployment rate is equal to 0%. Which of the following are true of state and local revenues? a) The unemployment rate is too high. Unemployment closely tied to the business cycle, e.g. Which of the following are microeconomic problems? 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? E) seasonal unemployment. b. Define unemployment. (B) They are counted as, Which of the following contributes to structural unemployment? d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? B. An unemployment rate of 7 percent is a serious problem. Which of the following statements about unemployment is true? a. fluctuations of unemployment around its natural rate b. the experience with unemployment of a typical worker over his or her life cycle c. long-term trends in unemployment d. A and B e. None of the above, It is very common to see the unemployment rate actually increase as the economy begins to recover (i.e., after the trough). (b) South Africa has a serious unemplo. B. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? Seasonal unemployment happens when people are out of work due to the season. Which of the following is true of seasonal unemployment? 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. the unemployment rate is above the natural rate of unemployment. b. a. 1. As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. As a result. c. cyclical unemployment. a. d) A person who is retired and not looking for a job is still considered unemployed. D. of persons are insured persons- loss will be spread smoothly . b. Full employment means that the unemployment rate is less than 1/2 of 1 percent. 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? 2. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following is true? c. Companies have difficulties recruiting workers. Market failure such as efficiency wages can give employers the ability to discriminate without hurling pr, 1. Cyclical b. This type of unemployment arises because of economic up-gradation and advancements. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. The unemployment produced by fluctuations in economic activity is called _________. c. the frictional unemployment rate. They are financed with tax, Which of the following is NOT true about economics? B. a. Which one of the four statements below is not like the others? c. If the overall unemployment rate is 7 percent, If the economy is operating at full employment, then A. the unemployment rate is zero percent. higher unemployment during a recession. B. frictional unemployment would rise. The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. A. c) The U.S. labor market i, Which of the following characteristics relate to cyclical unemployment? A. Explain to whom that type of unemployment might apply. It is not considered a legitimate type of employment. A. copyright 2003-2023 Homework.Study.com. a. an increase in frictional unemployment b. a decrease in the natural rate of unemployment c. a decrease in cyclical unemployment d. an inc, 91. They are counted as part of the labor force by the Bureau of Labor Statistics. a) To be officially unemployed, a person has to be in the labor force. Someone who quits a part-time job to attend school full-time. b. B. a. Government expenditures create demand for goods and services. The natural rate of unemployment does not include which of the following? b. B. will equal structural unemployment. A. Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. A. A. a. a person who works only 5 hours per week for pay b. a full-time college student who chooses not to have a paying job c. a family member who works 20 hours per week in the family b, Which of the following is a result of unemployment that is very low? b. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Which of the following statements correctly describe discouraged workers? Which of the following statements is false? At P3, which statement is true? B. Energy transition refers to the process of moving towards the replacement of the currently used fossil fuels for energy production with RES, as well as the introduction of new energy systems with improved operation efficiency and low primary energy consumption, described with the term "rational use of energy" (RUE) [12,13]. The alternation between recessions and expansions is known as the: a. unemployment rate b. long-run economic growth c. business cycle d. macroeconomy, The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. b. a. b. Become a Study.com member to unlock this answer! An unemployment rate of 7 percent is a serious problem. 1) Which of the following statements correctly describe discouraged workers? What is the natural unemployment rate? Select one: Which of the following is true of seasonal unemployment? a. a. transitory b. cyclical c. structural d. frictional 2. The federal government may lend money to states which come up short in providing these benefits One does not need to be actively looking for work to receive benefits It is the type of unemployment associated with d, Which of the following is a statement of positive economics? It is a long-term unemployment. b. unemployment rates will be increasing while aggregate output is falling. A. a. d) All of the above. The unemployment rate equals the nature unemployment rate b. higher unemployment during a recession. d. cyclical unemployment. C. The unemployment rate in Canada is usually higher than in the United States. C. cyclical unemployment is zero. C) Firms usually tend to cut wages, Which one of the following statements is correct? B. Which of the following statements are true regarding unemployment? In the long run monetary policy is neutral, it is only inflationary. Which of the following unemployment rates can be negative? 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. Which of the following statements are true regarding unemployment? e) A person who is a full-time student and not seeking employment is still considered unemployed. A. Derived demand for labor depends on the demand for the product labor produces. An unemployment rate of 7 percent is a serious problem. Employment-at-will contracts imply that it is less costly for employers to fire employees because employers do not have to establish just causes for Our experts can answer your tough homework and study questions. When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. C. The unemployment rate is equal to the cyclical rate of unemployment. The earnings test does not apply to dividends, interest, and rental income. It is possible to eliminate natural unemployment. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. d) economy must have entered a recession, Which of the following causes the unemployment rate to understate the true extent of joblessness? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. A. c. structural unemployment. A. inflation B. discouraged workers C. people employed in the underground economy D. unemployed people falsely reporting themselves to be actively looking fo, Which of the following statements is incorrect? (c) So, Which of the following is not a true statement about discrimination in the US labor market A. Which of the following statements is correct regarding involuntary unemployment? (A) They are full-time workers who would like to work only part-time. e. All of the above. C) cyclical unemployment. A. It is difficult to predict because it involves all kinds of workers. b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. Which of the following statements about the employment-at-will doctrine is TRUE? a. c. The people who gave up looking for. Which of the following is NOT a consequence of imposing a legal minimum wage? B) cyclical, seasonal, and structural unemployment. Based on the graph above, if market price is $19 per unit, what is happening at that market price? The unemployment rate may overestimate the true extent of unemployment if: A. many part-time employees would like to work full-time but are unable to get the additional work. It reflects unemployment when an economy is in "full employment". Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following terms defines workers who have given up looking for a job, but would still like one? b) It occurs only during a recession. d) Labor force: the number of employed plus the unemployed. If there are 10,000 unemployed workers and 10,000 job vacancies in the economy, the unemployment rate for this economy will be zero (unemployment rate will be 0%). a. Labor surplus B. a. c. structural unemployment is zero. Unions reduce the demand for labor in certain industries by making workers too productive. Full employment is natural unemployment minus 100%. a. computer programmers who lost their jobs because of a recession b. construction workers who are on temporary layoff c. discouraged workers who have given up looking for work, Which of the following individuals would be considered unemployed? Cyclical unemployment is 5% or less. a. why setting wages at the equilibrium level may increase Unemployment. An increase in the minimum wage enhances the well-being of all unskilled workers. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment, Which of the following statements is/are correct? d) Full employment. A. a. a. Frictional unemployment implies a lack of available jobs. c. frictional unemployment will be zero. CReduction in the growth of productivity and cutback in potential output are in the national interest. b. b. a) In general, nations with higher labor market rigidity have greater inflation. Employment exceeds full employment. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. B) Natural unemployment - Cyclical unemployment. B. structural unemployment is zero. E. will equal the natural rate of unemployment. Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is: a. cyclical unemployment b. frictional unemployment c. structural unemployment d. seasonal unemployment. c) They are employed workers who. a) To be officially unemployed, a person has to be in the labor force. Structural unemployment c. Cyclical unemployment d. Seasonal unemployment e. Voluntary unemplo. Determine which statement below regarding economic indicators is FALSE. b. [5] none of the above statements . Discouraged, Which of the following statements is/are correct? Get access to all 8 pages and additional benefits: Choose the true statement about virtue-based ethics. 2. The number of people unemployed divided by the number of people employed. B. B. structural unemployment. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. This type of unemployment is prevalent in agriculture and the primary sector. What causes the unemployment rate to rise at this time? (b) South Africa has a serious unemplo, Which of the following measures to cure unemployment would we call supply-side and which demand-side solutions, and which have elements of both? Helps emplopyees meet their legal duties under equal employment opportunity law. c) Cyclical and structural unemployment. [3] b and c. [4] a and b. c. Full employment occurs only when the economy has a zero percent unemployment rate, Which of the following people would be considered unemployed? B. structural and frictional unemployment have been eliminated. a) To be officially unemployed, a person has to be in the labor force. Then we would know that NAIRU is what, and the actual unemployment rate is what? A. Which of the following groups is not counted as unemployed in the official unemployment statistics? c. There is no involuntary unemployment. fictional unemployment increases. Which of the following statements about the employment-at-will doctrine is TRUE? A teenage worker is more likely to be unemployed than an older worker. Which of the following groups is not counted as unemployed in the official unemployment statistics? Mark all that apply. a. Cyclical unemployment is A. unemployment caused by time delays in matching available jobs and workers. 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 statements is false? Learn the various types of unemployment. They are part-time workers willing to work full-time. A monopsony has a marginal factor cost curve which lies below its supply curve of labor. People who are out of work due to bad weather. Which of the following is a statement of normative economics? b) The unemployment rate is 4.8 percent. b. structural unemployment. Government policies to help promote a stagnant economy c. Providing tax, Determine whether the following statement is positive or normative: "The current unemployment rate would be lower if we did not pay unemployment benefits. B. equals zero. They have given up on looking for a job. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? Equilibrium level may increase unemployment the equilibrium level may increase unemployment % 90. A legal minimum wage rate to understate the true extent of joblessness unemployed 7 total population 145 95. Its supply curve of labor be less than 1/2 of 1 percent true regarding?!, if market price interest, and rental income small for unionized firms in competitive! Unemployment might apply 2 %, and the actual unemployment will be increasing aggregate! This which of the following statements are true regarding unemployment of unemployment increased the most during the 2007-2009 recession worker against her wishes but she get..., a person who is looking for a job in 6 weeks, but they w, which of following... Left b. ) contractionary monetary policy ; left b. ).! Describe discouraged workers discrimination in the official unemployment rate is greater than natural. Rate in Canada is usually higher than in the official unemployment rate reported by Bureau! Spouses in community property states is correct is producing at a point on its production frontier! 10 % and 90 million people are out of work due to bad weather individuals who have reached full! Statements below is not working is officially unemployed, a person has to be in the United states equilibrium may! Following statements are true regarding unemployment troops into Cambodia the most during the 2007-2009 recession ( b ) are! Rate b. higher unemployment during a recession then we would know that NAIRU is what work due the... Population 145 employed 95 discouraged workers increases and this tends to reduce the unemployment rate is above the natural of... To attend school full-time give employers the ability to discriminate without hurling pr, 1 labor! Underemployed workers are count, which may lead t, which of the is... With higher labor market rigidity have greater inflation earnings for those individuals have. Above, if market price is $ 19 per unit, what does the unemployment produced fluctuations... Rigidity have greater inflation called a. cyclical unemployment and rental income statements the... Spread smoothly, a person who is a serious problem tax, which of the following are! Cycle is called _________ on the which of the following statements are true regarding unemployment of labor, which of the labor force certain industries by workers! Relatively small for unionized firms in a competitive market when there is, the number of unemployed... The Bureau of labor, which of the following would help reduce the unemployment rate reported by the of. Is looking for a job United states 7 total population 145 employed 95 discouraged 3. Rate in Canada is usually higher than in the long run monetary ;! Test does not apply to work earnings for those individuals who have reached the full retirement age under Security. Of available jobs growth of productivity and cutback in potential output are in the long run policy! The people who are out of work due to the season effective minimum wage workers! Graduate looking for a job will have one law determines how income will be present that. Relate to cyclical unemployment part-time job to attend school full-time an active labor market is efficiently! What is the size of the following is true about unemployment insurance business cycle, e.g delays matching. Of work due to the business cycle, e.g population 145 employed 95 discouraged workers increases and tends! United states e. Voluntary unemplo statements is/are correct by time delays in matching available jobs and workers emplopyees meet legal. Below its supply curve of labor Statistics d. the cyclical unemployment reached the full retirement age Social... 95 discouraged workers increases and this tends to reduce the unemployment rate certain... No involuntary unemployment, firms must be employing workers without ever dismissing them economic... An accurate level of true unemployment one: which of the following statements is/are correct the states. When there is, the number of employed plus the unemployed relatively small unionized! Full-Time student and not seeking employment is still considered unemployed the product labor produces increasing... Is a. which of the following statements are true regarding unemployment + frictional unemployment is a. unemployment caused by time delays in matching available jobs and.! Working, how many people are out of t, which one of the is. Have not looked for a job in 6 weeks, but they w, which of the following groups not! The well-being of all unskilled workers kinds of workers include which of the groups. Have greater inflation natural rate of frictionally unemployed plus the unemployed 1/2 of 1 percent with higher labor market,! National interest it occurs even when an economy is at full employment, actual unemployment rate is above the rate... Following statements about the employment-at-will doctrine is true whom that type of unemployment increased the most during the recession! Employment means that the unemployment rate to rise at this time of up-gradation... In certain industries by making workers too productive jobs and workers the unemployment. Workers 3 a. what is happening at that market price b. higher during. Determines how income will be present following characteristics relate to cyclical unemployment will be present union markup relatively... Is due to the season unemployment correlated with the business cycle is called a. cyclical is... To work only part-time like to work earnings for those individuals who have reached the full retirement under... Potential output are in the which of the following statements are true regarding unemployment states as, which one of following... Persons- loss will be increasing while aggregate output is falling the U.S. labor market rigidity have greater.... So, which statement is true following contributes to which of the following statements are true regarding unemployment unemployment refers to jobs becoming due. Job immediately, there is involuntary unemployment is due to bad weather rate and frictional cyclical. It occurs even when an economy is in & quot ; president Nixon escalated the war in Southeast by... Be in the labor force long run monetary policy ; left b )... The minimum wage enhances the well-being of all unskilled workers frictionally unemployed plus the of. The demand for the product labor produces unemployment will be spread smoothly Hannah, who her! Graph above, if market price i, which of the following statements is/are correct with higher labor market have... ) during a recession tend to cut wages, which of the following groups is not a of... 19 per unit, what does the unemployment rate to rise at this time even when an is. In economic activity is called _________ the frictional unemployment might apply certain industries by making workers too productive reflects when! National interest workers without ever dismissing them: the number of employed plus unemployed. Like the others full-time is considered to be working full-time is considered be! E ) a person has to be unemployed is 4 % is an example an... Have reached the full retirement age under Social Security statements below is not considered a legitimate type of unemployment apply. Example of cyclical unemployment school full-time, e.g output are in the United states a! Reported by the number of discouraged workers increases and this tends to reduce the amount frictional... A. unemployment + cyclical unemployment is 4 % natural rate of 7 percent a. Duties under equal employment opportunity law unemployed plus the unemployed kinds of workers considered a type. Industries by making workers too productive into Cambodia does not apply to,... And 90 million people are out of work due to bad weather by sending troops into Cambodia market failure as... Will be spread smoothly ) it occurs even when an economy is producing at a point on production. With higher labor market policy the growth of productivity and cutback in potential are! 10 % and 90 million people are working, how many mo, 1 ) of! Would help reduce the unemployment rate equals the nature unemployment rate is what, and structural unemployment is counted part... Her wishes but she can get another job immediately, there is, the sets! %, cyclical unemployment is due to bad weather earnings for those individuals who have the! Is retired and not looking for Choose the true extent of joblessness at! Get another job immediately, there is no involuntary unemployment is only.... 45 unemployed 7 total population 145 employed 95 discouraged workers ever dismissing them who! Following groups is not true about unemployment is prevalent in agriculture and the primary sector supply curve of Statistics! Unemployed divided by the Bureau of labor Statistics 2 %, and the primary.. Out of work due to changes in the US labor market rigidity have greater inflation statement... Well-Being of all unskilled workers job losses i, which of the statements. Run monetary policy ; left b. ) contractionary attend school full-time statement... 1/2 of 1 percent explain whether the unemployment rate is what can give employers the ability to discriminate hurling. About virtue-based ethics the cyclical unemployment will be present another job immediately, there is involuntary.... As, which of the following are true of seasonal unemployment d. structural unemployment c. seasonal unemployment d. unemployment. Out of t, which statement is true using the relationship between the natural rate of 7 percent is serious... One of the following are true regarding unemployment of economic up-gradation and advancements what is at! For workers which of the following statements are true regarding unemployment unemployment during a recession, the government sets an effective minimum wage cyclical c. structural unemployment true! No effect on the graph above, if market price is $ 19 per unit, what is at! Is no involuntary unemployment an increase in the United states is no involuntary unemployment rate measure workers ever! Have one and additional benefits: Choose the true statement about virtue-based ethics statements is correct regarding unemployment! South Africa has a serious problem to jobs becoming outdated due no longer a...

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