b) economy is considered to be at full employment. c) They are employed workers who. Which of the following statements about the minimum wage are likely to be true? II. The minimum wage creates unemployment among young and unskilled workers. a. E) cyclical, fri, When the unemployment rate matches the natural unemployment rate, A) there is no structural or cyclical unemployment. When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. Unemployment that is caused by business recessions is called: a. frictional unemployment b. seasonal unemployment c. structural unemployment d. cyclical unemployment, If the actual rate of unemployment were 4.2%, while the natural rate of unemployment were 4.8%, what would the cyclical rate of unemployment be? B. Which of the following statements is correct regarding involuntary unemployment? All other trademarks and copyrights are the property of their respective owners. What is cyclical unemployment? It is possible to eliminate natural unemployment. 1) Based on the population classifications we discussed relating to the labor force and unemployment, determine whether each of the following statements is true or false. When there is involuntary unemployment, the employment rent is zero. 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. Which of the following are true of an economy operating below full employment? a. a. a. The causes of unemployment are heavily debated. An unemployment rate of 7 percent is a serious problem. ", Determine whether the following statement is positive or normative: "The unemployment rate should be lower. a. Real wage is cyclical. c) Keynesian aggregate supply curve must be horizontal. Structural unemployment c. Cyclical unemployment d. Seasonal unemployment e. Voluntary unemplo. 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. Wages drop below the level of the minimum wage. d) Labor force: the number of employed plus the unemployed. Explain each answer briefly. c. The people who gave up looking for. Explain. Which one of the four statements below is not like the others? c. the frictional unemployment rate. a. True B. Efficiency wages C. Frictional D. Unions, 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. b. 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. d. the unemployment rate will be zero. Chris then aimed his Brass Eagle paintball gun at the car John was riding in, but instead hit John in the eye. Hint: it's not zero. Which of the following could cause a shift in the demand curve? A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. B. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? The economy is in the peak phase of the business cycle. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. Minimum wage laws B. C. the unemployment rate is equal to the natural rate. The price of oil should be increased because burning it, Which of the following is not true when there is an inflationary gap? (c) Unemployment. A. c. frictional unemployment. d. frictional plu, 1. d. cyclical unemployment. A. Frictional unemployment is higher, on average, in the United States than in Canada. A minimum wage c. A union wage d. All of the above A real wage rate, Which of the following are true of an economy operating below full employment? Become a Study.com member to unlock this answer! b. the natural unemployment rate. A person working for the family business after school without pay. How many fewer workers would have been unemployed? Who do you call unemployed? Which of the following is true? Full employment is natural unemployment minus 100%. (a) Slow growth. B. D. It is also called structural unemployment. The supply curve of labor shifts when the prevailing wage rate changes. The few people who are unemployed stop looking for jobs. a. c. discouraged unemployment. Which of the following is a reason to learn about macroeconomics. Many German Soviets would later return to Germany after Germany was reunited and the Soviet Union collapsed. 20. Discouraged workers. Which of the following statements are true regarding the job design process:a. Unemployment/Full Employment - Frictional / Structural / Cyclical. (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. D. when workers stop looking, Cyclical unemployment is: a) unemployment caused by time delays in matching available jobs and workers. Choose all that apply. 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. D. It is . A teenage worker is more likely to be unemployed than an older worker. a. The increase in unemployment associated with a recession is called a. structural unemployment. Choose all that apply. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. C. unemployment caused by economic downturns. According to the data, what is the unemployment rate for this economy? A. Which one of the following statements is correct? a. Consumer confidence can be volatile and inconsistent over time. a. When the economy is at its full employment Real GDP, the unemployment rate is equal to a. zero. Hence, lesser will be premium It is neither Charity nor Gambling D. There is no cyclical unempl, If cyclical unemployment is eliminated in the economy, then A. the economy is considered to be at full employment. Labor income Which statement below about the exchange rate is FALSE? b. People who lost their jobs during the recession experienced cyclical unemployment . c. structural unemployment is zero. It is negative in recessions and positive in economic booms. 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%). Unemployment caused by the fluctuation of the business cycle is called . unemployment. B. b. c. frictional unemployment will be zero. A. a. Someone who has lost her job in the last week. In the labor force? iii. b) They are counted as part of the labor force by the Bureau of Labor Statistics. b. b) A person who is not working is officially unemployed. Which of the following statements is supported by the passage AAs productivity rises, a greater amount of labor per dollar of national product can be expected. In general, labor legislation in South Africa protects the employer at the expense of the employee. C. There is no less than 100% of the workforce employed. b. cyclical unemployment should increase and real GDP should decline. It is a Co-operative device Payment of claim is made on happening of contigency (risk) insured Amount of claim payment depends on the value of loss occurred due to particular risk If Large no. E. natural unemployment. To be officially unemployed, a person has to be in the labor force. Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. Labor surplus B. The number of people unemployed divided by the number of people employed. Which of the following are true of state and local revenues? b. the leading economic indicators are unchanged for two consecutive quarters. They have given up on looking for a job. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. ii. The actual unemployment rate can never be at the natural rate. Explain. Explain each answer briefly. a. 1. Become a Study.com member to unlock this answer! Labor market outcomes are influenced by the interaction of supply and demand. B. People who lost their jobs during the recession experienced cyclical unemployment. The unemployment rate in the United States was 8.1 percent in August 2012. b. A. b. Discouraged, One of the following is a correct statement regarding the trade-off between "inflation" and "unemployment": a) There is a short-run but not a long-run trade-off between inflation and unemployment, b) There is always a trade-off between inflation and unemp. a. A. Unions are becoming a greater influence in American labor markets. The natural unemployment rate b. c) The U.S. labor market i, Which of the following characteristics relate to cyclical 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. Unemployment insurance increases the amount of frictional unemployment. Which of the following statements are true regarding unemployment? C. Advoc, Which of the following do unions not cause? 37,194,541. . Sophia Macroeconomics Milestone 1(1).docx, University of Maryland, University College, Sophia Macroeconomics Final Milestone.docx, Sophia - Macroeconomics - Milestone 1.pdf, Sophia LEarning MacroEconomics Milestone 1.pdf, 1890 18100 18105 18110 18115 price of purchases paid by bidder of securities in, TAKE NOTES 102621 337 PM Platform App Builder Practice Exam 1 focusonforcecom, F It negotiates IPsec SA parameters Answer CDE Explanation QUESTION NO 98 The, Evaluating Sources - Laveena Anchan - 1009921.pdf, l1d6a81f5a3099bcf2f8d5c7457a85999-s4745037686454400660-m8a42a6ee89d7780217b32cf7f1299b63.pdf, Finally global governance relies on looser norm setting forums such as the G20, HOW MANAGERS BECOME LEADERS 175 How Do I Evaluate a Sales Executive ENTERPRISE, file report on her healing About the middle of October I began to experience a, government saving less or borrowing moresupply of saving shift left crowding out, Questions_1-6_for_Diary_of_Anne_Frank_Act_1_Scene_3.docx, 13 Yes No 11 Between March 23 1933 and May 8 1945 did you work for or associate, Government can change markets through all of the following except__________. 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? Which two types of unemployment still exist in a full-employment economy. a. Frictional unemployment implies a lack of available jobs. Check all that apply. a) To be officially unemployed, a person has to be in the labor force. Get access to all 8 pages and additional benefits: Choose the true statement about virtue-based ethics. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? Which one of the four statements below is not like the others? Which of the following is not predicted by the technology shock driven real business cycle (RBC) theory? A. If the price of a product in a market decrease, Which of the following is true? c. A retired school teaching collecting social security benefits. Check all that apply. The percentage of adults who are in the labor force and thus seeking jobs, but wh. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. Unions are always more efficient than firms at discerning which workers are highly, Which of the following can cause the real wage rate to be set above the equilibrium full-employment level? Select the statement below that is an example of monetary policy only. b) job retraining. a. Each state gets the same Unemployment Insurance budget from the federal government. a. an individual who is not working and is not looking for work b. an individual who works full-time in a family business, but is not paid c. an individual who works only part-time d. all, Which of the following statements is/are correct? b) A person who is not working is officially unemployed. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? Full employment means that the unemployment rate is less than 1/2 of 1 percent. A. Which of the following statements is true of an economy at its "natural rate of unemployment"? b. While physical capital is also a resource, it doesn't buy goods and services and thus is easier to analyze. C) Firms usually tend to cut wages, Which one of the following statements is correct? (b) The laun, Which of the following statements about labor supply curves at high wages is true? b. unemployment rates will be increasing while aggregate output is falling. d. It causes the natural rate of unemployment to rise. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. Structural Unemployment B. c. structural unemployment. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. a) Employed: currently working for pay. B. unemployment caused by changes in the industrial makeup of an economy. 4. b. It is a long-term unemployment. People who work at least one hour per week. Which of the following statements about the employment-at-will doctrine is TRUE? [3] b and c. [4] a and b. 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? The incidence of the subsidy on the consumer will decrease. B. 1. An unemployment rate of 7 percent is a serious problem. Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. C. Retired workers. C. A part-time worker. Unemployment insurance decreases the amount of frictional unemployment. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following might help explain the higher productivity of union workers? During a recession, cyclical unemployment will be low. The people who are counted as unemployed but have to relocate to get there next job. II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? -When unemployment is increasing, it is a sign of a recession. C. The unemployment rate is equal to the cyclical rate of unemployment.