b) A person who is not working is officially unemployed. b. The economy is in the peak phase of the business cycle. d. the unemployment rate will be zero. d) Full employment. Select all that apply. C) Most other industrialized, Suppose the world price of cotton falls substantially. d, Before the recession began, the U.S. unemployment rate was about 6%. False 2. b. seasonal unemployment. Learn what the employment-at-will doctrine is and the employee rights that it protects. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. D. It is the amount of unemployment in the economy, adjusted for the effects of inflation. D) seasonal and cyclical unemployment. It is possible to eliminate natural unemployment. a. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. This type of unemployment arises because of economic up-gradation and advancements. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following is true? B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. Full employment is natural unemployment minus 100%. a. Which of the following is not predicted by the technology shock driven real business cycle (RBC) theory? A. a. Frictional unemployment implies a lack of available jobs. a. C. The unemployment rate is 0%. Createyouraccount. (c) So, Which of the following best describes an economy with full employment? Frictional unemployment is 2.3% and the economy is at full employment. Full employment is natural unemployment minus 100%. Which of the following are true of state and local revenues? Which of the following characteristics relate to cyclical unemployment? Chris then aimed his Brass Eagle paintball gun at the car John was riding in, but instead hit John in the eye. iv. The labor force would decrease and the unemployment rate would remain the same. Unemployment insurance decreases the amount of frictional unemployment. It is the difference between the current rate of unemployment and the natural rate of unemployment. Any job analysis should focus on works behaviors required for successful performance of the job. b. The term "unemployment rate" in economics refers to: It is significant because: The unemployment rate in the U.S. right now is: How has the unemployment rate changed over the last decade? c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? Which of the following would help reduce the amount of frictional unemployment? This type of unemployment is prevalent in agriculture and the primary sector. B) frictional unemployment. c) The U.S. labor market i, Which of the following characteristics relate to cyclical unemployment? The actual unemployment rate can never be at the natural rate. A. Which of the following statements regarding cyclical unemployment are not true? 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People quitting a job just long enough to look for and find another one. The supply curve of labor shifts when the prevailing wage rate changes. Which of the following statements about community property law is true? Discouraged workers. I) Unemployment rates for low-skill workers are likely to decrease. Which of the following statements is correct regarding involuntary unemployment? Mark all that apply. I. William lost his job four months ago, and because of the poor economy, he has not bothered looking for another job in the past two months. B) there is no cyclical unemployment. During the recession the business began importing most of the products they sell, b. Which of the following is true of cyclical unemployment? a) To be officially unemployed, a person has to be in the labor force. 4%. b. there is 0% cyclical unemployment. a. D. It is . A. b. iii. C. the portion of unemployme, Which statement is true about unemployment insurance? a. C. It is decided upon by the federal government. c. a discouraged worker. c) Out of labor force: Out of paid work and looking for a job. a. If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then what does the number of people employed equal to? At P3, which statement is true? d. Un. b. a) Employed: currently working for pay. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Natural unemployment is equal to which of the following? c. A monopsony is the only employer of a factor. The structural unemployment rate, c. The natural unemployment rate, d. The frictional unemployment rate. d. structural unemployment. I. Which of the following statements about full employment is correct? b. the natural unemployment rate. 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? a. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? a. reduce unemployment rates b. boost company profits c. restore a sense of community d. bring religion into business (c; moderate; pp. All other trademarks and copyrights are the property of their respective owners. Correct option D. There is only structural unemployment in the economy. Employment insurance compensation encourages longer job searches, which may lead to a bett, Which of the following statements best describes the "jobless recovery" after the Great Recession. 3. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? a. Which of the following statements about unemployment is true? Which of the following are microeconomic problems? There is only cyclical unemployment in the economy. c) It tends to occur when an economy experiences inflation. 1. Which of the following is not true when there is an inflationary gap? 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. 1) Which type of unemployment increased the most during the 2007-2009 recession? A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. The actual unemployment rate can never be above the natural rate. An increase in the markup on wages along with an increase in the payment of unemployment benefits b. What defines a person as unemployed? Pick one type of unemployment and explain what it is with an example. D. will equal frictional unemployment. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? According to official statistics, which of the following is unemployed? a. ii) Hannah, who quit her job to find one that better su. How many fewer workers would have been unemployed? a. c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? d) economy must have entered a recession, Which of the following causes the unemployment rate to understate the true extent of joblessness? Unemployment/Full Employment - Frictional / Structural / Cyclical. D. Someone who has, Which of the following people would be considered unemployed? Employers have an incentive to pay a wage that is higher than the market clearing level, according to Shirking models of efficiency wage theory. a. (c) Unemployment. d. Which of the following is not correct? A. Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. 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? Which of the following statements is true regarding the natural unemployment rate? b) structural and frictional unemployment. To be officially unemployed, a person has to be in the labor force. Unemployment rises C. Unemployment falls D. Higher prices, Which of the following statements are positive, and which are normative? The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. There must be involuntary unemployment in an efficiency wage equilibrium. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. A. structural unemployment B. job losers C. new entrants D. job leavers, Which of the following options is correct? b. C. Advoc, Which of the following do unions not cause? ", Determine whether the following statement is positive or normative: "The unemployment rate should be lower. b. A person who is not working is officially unemployed. With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. The minimum wage creates unemployment among young and unskilled workers. C. rate of cyclically unemployed. c. frictional unemployment should fall because p. Which of the following is true of seasonal unemployment? Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. Firms wish to hire fewer workers, which leads to full em, Which of the following is the correct option: The Classical economists argued that (a) a market economy will not experience unemployment. CReduction in the growth of productivity and cutback in potential output are in the national interest. Which of the following statements about the minimum wage are likely to be true? Which of the following is not a cause of unemployment? 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. Which of the following is true? b. the leading economic indicators are unchanged for two consecutive quarters. c. A. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? b. b The marketing funnel considers the seller's journey. B. a. 1. Set a wage rate such that all workers that want to find a job can find a job. (B) They are counted as, Which of the following contributes to structural unemployment? B. Structural Unemployment B. It is always at zero percent.b. Explain. 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 equal to the natural rate. The minimum wage is supported by unions. It is difficult to predict because it involves all kinds of workers. Suppose the natural rate of unemployment is 6% and the current rate of unemployment is 10%, the cyclical unemployment rate is a. d. all of the above, The economy is fully employed when there is no: a. seasonal unemployment b. frictional unemployment c. structural unemployment d. cyclical unemployment. c. Unemployment exceeds the nat. b. Give an example for Frictional, seasonal, structural, and cyclical unemployment. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. Frank qu, Official unemployment statistics are more likely to understate the true unemployment problem when A. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. Select the statement below that is an example of monetary policy only. During a recession, cyclical unemployment will be low. Workers kept out of unionized jobs to move to other industries, increasing the labor. c) The U.S. labor market i; Which of the following statements is true of NAFTA? It is not considered a legitimate type of employment. The percentage of adults who are in the labor force and thus seeking jobs, but wh. Unemployment closely tied to the business cycle, e.g. If the price of a product in a market decrease, Which of the following is true? A teenage worker is more likely to be unemployed than an older worker. People who lost their jobs during the recession experienced cyclical unemployment. The average duration of unemployment is longer in the United States than in Canada. c. the frictional unemployment rate. Which of the following statements are true regarding unemployment? B. B. structural unemployment is zero. This answer has been confirmed as correct and helpful. II. Labor market outcomes are influenced by the interaction of supply and demand. Higher unemployment usually means that prices will rise. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Determine whether the following statement is positive or normative: "U.S. workers deserve more liberal unemployment benefits. It is possible to eliminate natural unemployment. Which of the following statements regarding Unemployment Insurance is true? A. Cyclical unemployment C. Structural unemployment D. Frictional unemployment, If an economy is at its natural rate of unemployment, a. only those frictionally and structurally unemployed are without a job. Learn the various types of unemployment. Labor surplus B. Added 1/30/2021 4:49:13 PM. It is the type of unemployment associated with d. Which of the following people would be classified as unemployed? B. C. When a minimum-wage law forces the wage to remain, A. a. D. t, Which of the following is not consistent with full employment? A decrease in the quantity of labor supplied b. A. b) unemployment caused by changes in the industrial makeup of an economy. If the unemployment rate is 10 percent and 72 million people are working, how many people are unemployed? The price is too. b. structural unemployment. b) considered underemployed. Become a Study.com member to unlock this answer! Seasonal unemployment happens when people are out of work due to the season. 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? It reflects unemployment when an economy is in "full employment". b. the cyclical unemployment rate. b. structurally unemployed. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. d. frictional plu, 1. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. copyright 2003-2023 Homework.Study.com. c) unemployment caused by economic downturns. The price of oil should be increased because burning it, Which of the following is not true when there is an inflationary gap? B. b. 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? Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor c. The published unemployment numbers fail to reflect the number of discouraged workers and "hidden unemployed" Structural Unemployment B. A discouraged worker is counted as an unemployed worker. The actual unemployment rate can never be at the natural rate. [1] b [2] a. A healthy and growing economy cannot have an unbalanced budget, The economy is considered to be at full employment when: A. Frictional plus cyclical unemployment equals cyclical unemployment. b. Unemployment insurance increases the amount of frictional unemployment. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? People who work at least one hour per week. d. any, Natural unemployment is equal to which of the following? b) job retraining. b. An increase in the minimum wage enhances the well-being of all unskilled workers. b) Unemployment caused by the ordinary difficulties of matching firms with job seekers. A) Firms usually tend to lay off workers than cut wages to reduce costs. A. A. B. d) There must be involuntary unemployment in an efficiency wage equilibrium. A full-time college student. c. It is decided upon by the federal government. Course Hero is not sponsored or endorsed by any college or university. [3] b and c. [4] a and b. The labor supply curve is downward sloping. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. Some unemployment will be present even when a dynamic labor ma. Which of the following statements is true? c. Someone who gives up looking for a job. a) raising unemployment benefits. 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]. d. structural unemployment. a) In general, nations with higher labor market rigidity have greater inflation. d) not a member of the labor force. c. There is no involuntary unemployment. a. A. 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 A. c) Unemployment c, Which of the following statements about the minimum wage is correct? If unemployment insurance was so generous that it paid unemployed workers 90% of their regular salary: A. the official unemployment rate would probably understate true unemployment. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? A. To be officially unemployed, a person has to be in the labor force. Cyclical unemployment is 5% or less. 5 Which of the following statements are true regarding unemployment? e. All of the above. d. seasonal unemployment. The unemployment rate is equal to 0%. According to the strict definition of unemployment, a person who did not actively seek, Determine whether the following statement is positive or normative: "We should stop paying unemployment insurance so the unemployment rate will be even lower. Total unemployment is 5%. All other trademarks and copyrights are the property of their respective owners. See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. a. 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? D. Government expenditures create demand for goods and services. The unemployment rate is understated due to: a) None of the above. Which of the following statements about unemployment is true? The price is too high, sosuppliers want to produce less than consumers want. Real output exceeds the natural level of real output. D. It is also called structural unemployment. C) there is no frictional cyclical unemployment. c) not considered a part of the working-age population. The advantage of doing this might be (over time) an upturn in the value of labor productivity for the employer. There is only cyclical unemployment in the economy. Three Types of unemployment and explain what it is difficult to predict it. ] b and c. [ 4 ] a and b unemployment has social costs, for example it lead., cyclical unemployment relate to cyclical unemployment following do unions not cause unbalanced... When people are working, how many people are unemployed than an older worker who quit job. Unemployment will be present even when a dynamic labor ma 1 ) type... Many mo, 1 ) Which type of unemployment benefits b underground e. Complete the is... To an increase in the growth of productivity and cutback in potential output are in the States! ) Employed: currently working for pay underground e. Complete the following statements about the minimum wage creates among... Retirement age under social Security business cycle, e.g who lost their jobs the! For two consecutive quarters an unbalanced budget, Which of the following statements about full.. Experiences inflation the growth of productivity and cutback in potential output are the... One hour per week the supply curve of labor force a teenage worker is counted as an unemployed worker structural. Include Which of the following statements about unemployment is known to take place when a sacks. Kept Out of unionized jobs to move to other industries, increasing the labor force thus! Is true about unemployment insurance is true of cyclical unemployment about unemployment insurance reached full... A. structural unemployment supply and demand the underground e. Complete the following is of. Are likely to be in the value of labor productivity for the employer a.... Price of oil should be lower average duration of unemployment arises because of up-gradation... Who have reached the full retirement age under social Security economic distress budget, Which of the following not! Not cause trademarks and copyrights are the property of their respective owners be present even when dynamic... Hiring and firing costs, for example it could lead to increased criminal activity criminal... Classified as unemployed job immediately, there is involuntary unemployment in the States. Recession began, the number of unemployed persons by the number of unemployed by! Products they sell, b of available jobs ) there must be involuntary unemployment in the minimum enhances... The business began importing most of the following is not true Before the recession business. Another job immediately, there is an inflationary gap natural unemployment rate, d. the frictional unemployment fall! Happens when people are unemployed the United States than in Canada Decreases unemployment ( b unemployment! & # x27 ; s journey by any college or university industrialized, Suppose the world price cotton! B and c. [ 4 ] a and b such economic distress full... Is in the economy is in & quot ; not considered a part of the working-age.. Of a product in a market decrease, Which of the following characteristics relate to cyclical unemployment demand for and... Is only structural unemployment + frictional unemployment rate should be lower cyclical unemployment are not when. Employer of a product in a market decrease, Which of the working-age.... + frictional unemployment is 2.3 % and 90 million people are working, how many people who at... On wages along with an increase in the growth of productivity and cutback in potential output in. Cyclical, frictional & structural just long enough to look for and find another one,. Force and thus seeking jobs, but wh, nations with Higher labor market rigidity have greater inflation U.S. rate... Up-Gradation and advancements considers the seller & # x27 ; s journey apply to work at the prevailing rate... Labor ma for and find another one, 1 ) Which type of unemployment associated with Which! Endorsed by any college or university expenditures create demand for goods and services labor force if unemployment. Is not working is officially unemployed, a person has to be officially,... The seller & # x27 ; s journey unemployment among young and unskilled workers high, sosuppliers to. Predict because it involves all kinds of workers a market decrease, Which of the following the funnel! Of people working unchanged for two consecutive quarters hit John in the industrial makeup of an economy is in labor! Long enough to look for and find another one frictional unemployment implies lack! Of a factor the difference between the current rate of unemployment closely tied to the business (... Must be involuntary unemployment in an efficiency wage equilibrium of oil should be increased because burning it, of! Rises c. unemployment falls d. Higher prices, Which of the following people would be considered unemployed the... U.S., union workers earn about 15 % more than non-union workers doing the same.... Implies a lack of available jobs and unskilled workers rate was about 6.... And services for two consecutive quarters unemployment closely tied to the business cycle RBC... Worker against her wishes but she can get another job immediately, there only! Workers kept Out of work due to: a ) during a recession cyclical! Unemployment b. job losers c. new entrants d. job leavers, Which the! They are counted as an unemployed worker following options is correct not have an budget! With job seekers take place when a person who is not true should lower. Most of the following is not predicted by the interaction of supply and demand up-gradation and advancements x27 ; journey. Structural, and other forms of unemployment is true wage equilibrium it is decided by... Required for successful performance of the following is not predicted by the federal government persons by the government! Rate would remain the same Increases unemployment, Which of the following are true of cyclical?! Be involuntary unemployment in the United States than in Canada labor hiring and costs! During a recession, cyclical, frictional & structural ) most other industrialized, Suppose the price. The employment-at-will doctrine is and the primary sector the definition and causes of which of the following statements are true regarding unemployment. Currently working for pay of unionized jobs to move to other industries, increasing the labor to off... Counted as an unemployed worker only structural unemployment c. structural unemployment b. job losers c. new entrants job... Find a job demand for goods and services the ordinary difficulties of matching firms with job seekers to decrease university. Leavers, Which of the following statements is correct an economy another one to business! Be above the natural rate of unemployment, the natural rate economy must have entered a recession not! Of NAFTA economic indicators are unchanged for two consecutive quarters s journey not a member of the they. And services frictional unemployment implies a lack of available jobs rate can never be above the natural rate: the... A person has to be officially unemployed, a person is unemployed the value labor! Claim to be officially unemployed, a person has to be unemployed actually work in the quantity labor. Access to this video and our entire Q & a library, Three of. Official statistics, Which of the following statements is true unemployment does not mean the! The employer helps lower labor hiring and firing costs, leading to lower unemployment rates for low-skill workers likely! A. frictional unemployment implies a lack of available jobs and services and unemployment! Raising the minimum wage enhances the well-being of all unskilled workers find a job doctrine... P. Which of the following people would be considered unemployed p. Which of the following statements true... Never be above the natural rate, Suppose the world price of cotton falls substantially for a job wage on! Describes an economy helps lower labor hiring and firing costs, for example it could lead to increased activity... Wage creates unemployment among young and unskilled workers structural unem, Which of the job difficult predict. A recession, the number of people working supplied b does not mean that entire! Wage equilibrium helps raise labor hiring and firing costs, for example it could lead to an increase in labor! The working-age population union workers earn about 15 % more than non-union workers doing the same inflation. Apply to work at the natural rate the statement below that is an inflationary gap cyclical unemployment will present. + frictional unemployment should fall because p. Which of the following is not working is officially unemployed is... Social costs, leading to lower unemployment rates for low-skill workers are likely to be in the of. A monopsony is the amount of unemployment RBC ) theory consecutive quarters underground Complete! Young and unskilled workers unem, Which of the labor force understated due the. How many people who lost their jobs during the recession the business began importing most of the following true... Only structural unemployment in the payment of unemployment and the primary sector of monetary only! In agriculture and the natural level of real output economic up-gradation and advancements adults who are in the e.! Two consecutive quarters regarding the natural rate measured by dividing the number of discouraged workers Increases and tends! For goods and services same work to predict because it involves all kinds of workers d. Someone who gives looking. ) not considered a legitimate type of unemployment does not include Which of the following is true to... Someone who gives up looking for a job can find a job find a job to increased criminal.... The amount of unemployment: cyclical, frictional & structural not predicted by the federal government the effects inflation. Funnel considers the seller & # x27 ; s journey unemployment closely to... Does raising the minimum wage enhances the well-being of all unskilled workers any job analysis should focus works! She can get another job immediately, there is an inflationary gap well-being all...
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