b. The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. B. Determine which statement below regarding economic indicators is FALSE. a) They have given up on looking for a job. It is possible to eliminate natural unemployment. Which of the following statements are true regarding 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? a. Frictional unemployment implies a lack of available jobs. A. B. is counted as unemployed but should be counted as out of t, Which statement is true about unemployment insurance? (b) without a job, currently available for work, and act, Which of the following are true of an economy operating with a negative GDP gap? Which of the following statements about unemployment is true? The price is too. b. what is the unemployment rate? The frictional unemployment rate is greater than the natural unemployment rate. If a firm can sell 3,000 units of Product A at $10.00 per unit and 5,000 units at $8.00 per unit, then the price elasticity of demand is equal to: a. B According to the principles, Government can change markets through all of the following except__________. B. All other trademarks and copyrights are the property of their respective owners. 37,194,541. 1. b) The supply curves of indi, Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. a. c) Discouraged workers not counted in the labor force. 1. (B) They are counted as, Which of the following statements is true? B. Frictional unemployment results from the process of matching workers and jobs. Which of the following is true when the economy is at full employment? c. frictional unemployment should fall because p. Which of the following is true of seasonal unemployment? Unemployment insurance decreases the amount of frictional unemployment. Which of the following is not a cause of unemployment? Structural unemployment increases b. Course Hero is not sponsored or endorsed by any college or university. Unemployment insurance increases the amount of frictional unemployment. B. c. frictional unemployment will be zero. The minimum wage is good because it raises wages for the working poor. C. equals the actual rate of unemployment when cyclical unemployment equals zero. Unemployment describes the condition where: a. equipment and machinery are going unused. a. c. structural unemployment is zero. a. c) Cyclical and structural unemployment. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. A general downturn in the economy. Frictional unemployment is due to changes in the economy. Some unemployment will be present even when a dynamic labor ma. Which of the following statements are true regarding unemployment? Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. c. It is always present, even in a healthy economy. Job search assistance b. A. They represent the difference between tax revenue and government expenditures. Full employment means that the transaction costs associated with getting a job are zero. 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" All other trademarks and copyrights are the property of their respective owners. There must be involuntary unemployment in an efficiency wage equilibrium. c) It tends to occur when an economy experiences inflation. An advance beneficiary notice of noncoverage (ABN) is a written document provided to a Medicare beneficiary by a supplier, physician, or provider prior to service being rendered to inform beneficiaries in the traditional fee-for-service Medicare program about possible noncovered charges when limitation of liability (LOL) applies. however, now we learned that everything is gone. Which of the following statements correctly describe discouraged workers? Full employment means that the transaction costs associated with getting a job are zero. Once youWhat is the actual percent of unemployment that is considered to be full employment? a) They have given up on looking for a job. The natural rate of unemployment does not include which of the following? a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. The actual unemployment rate can never be above the natural rate. B. There must be involuntary unemployment in an efficiency wage equilibrium. Efficiency wages C. Frictional D. Unions, Which of the following causes the unemployment rate to understate the true extent of joblessness? A. Mark all that apply. Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? It is reflected in the GDP gap. a. Consumer confidence can be volatile and inconsistent over time. a. Identify all that apply. 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? A. Which of the following statements is true? Wages drop below the level of the minimum wage. (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? b) unemployment caused by changes in the industrial makeup of an economy. a. Employment exceeds full employment. c. Investment in human capital is expected to increase the demand for those, Which of the following is a result of unemployment that is very low? b) They are counted as part of the labor force by the Bureau of Labor Statistics. C. A part-time worker. Which of the following is a reason to learn about macroeconomics. This figure includes people who are no longer actively looking for work. a. why setting wages at the equilibrium level may increase Unemployment. 1. During a recession, cyclical unemployment will be low. b. an inflationary gap exists and wages are likely to rise. They have given up on looking for a job. (a) Slow growth. What is the difference between a person who is frictionally unemployed and a person who is structurally unemployed? d. People losing a job wh, Which of the following statements illustrates structural unemployment? B. 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? When unemployment is increasing, it is a sign of a recession b. d. None of the above. b. a) Fricti. Discouraged workers. A. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. Productivity is pro-cyclical. 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. d. Consumption is smoother than output. b.Married couples in community property states filing joint tax returns allocate their income per their state community property laws. If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. marketing. c. cyclical unemployment. The incidence of the subsidy on the consumer will decrease. Which of the following are true of an economy operating below full employment? 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. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. A. Discouraged, Which of the following statements is/are correct? b. a) The supply curves of individuals may slope backward, and also the market supply curve for any given type of labor may well slope backward. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? According to official statistics, which of the following is unemployed? a. frictional unemployment b. 2.25 c. 3.33 d. Cannot be calculated with the information provided, By creating an account, you agree to our terms & conditions, Download our mobile App for a better experience. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. B. frictional unemployment would rise. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. b. a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. It is difficult to predict because it involves all kinds of workers. The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? B. a. I. a. Frictional unemployment is due to changes in the economy. C. cyclical unemployment. b. b) A person who is not working is officially unemployed. a. Real output exceeds the natural level of real output. The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. Labor unions have no effect on a nation's unemployment level. D. It is . The unemployment rate equals the nature unemployment rate b. 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. a) They have given up on looking for a job. Which of the following statements is true? Structural Unemployment B. c) A person who is working part-time but would like to be workin. Which of the following statements is false? (A) They are full-time workers who would like to work only part-time. )contractionary monetary policy; left b.)contractionary. 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. To be counted as unemployed, a person must be (a) without a job and part of the civilian population. C) Frictional unemploymen. Total unemployment is 5%. A. c. a person does not have a job, regardless of whether or not they want one. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. All unemployment is cyclical c. The unemployment rate is less than the natural unemployment rate d. There is no frictional unemployment. Which of the following statements about full employment is correct? The causes of unemployment are. a. (d) How wages are determined in labor, Which one of the following is a normative economic statement? The average duration of unemployment is longer in the United States than in Canada. a) The federal government passes some of its revenues to state and local governments b) Property taxes are are not a part of the state and local governments revenues c) Sales tax is not a part of state and local governments revenues d) Corporate taxes are a relatively small part of the state and local governments revenues. What would happen to both unemployment and the normal rate of unemployment if: i. cyclical unemployment increases. 3% b. a. 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]. 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. C. Advoc, Which of the following do unions not cause? c. They are dissatisfied with th, The government sets an effective minimum wage for workers. In the production function, all the inputs are assumed to be fixed. a. d. seasonal unemployment. Which of the following statements about unemployment is true? C) there is no frictional cyclical unemployment. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. 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. a. frictional unemployment b. the wage to rise above the equilibrium level c. conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs d. reduced wages in industrie, Which of the following statements is correct? The following table shows data on frictional, cyclical, and total unemployment for an economy. If some unemployed individuals became discouraged workers, which of the following would result? B. Full employment is natural unemployment minus 100%. a. B. the unemployment rate is below the natural rate of unemployment. A. The labor supply curve is downward sloping. An increase in the minimum wage has no effect on the well-being of middle-class families. structural unemployment falls and cyclical unemployment rises by the same amount. People who lost their jobs during the recession experienced cyclical unemployment. C. The unemployment rate is equal to the cyclical rate of unemployment. d. the structural unemployment rate. c. Unemployment exceeds the nat. Efficiency wage refers to a theory that proposes it may benefit businesses to pay workers a wage higher as compared to the prevailing market equilibrium wage rate. e) A person who is a full-time student and not seeking employment is still considered unemployed. Someone who has lost her job in the last week. It is difficult to predict because it involves all kinds of workers. ", Which of the following does the Theory of Efficiency Wages explain? 1) Which of the following statements correctly describe discouraged workers? D. seasonal unemployment. Interviewing a wide variety of candidates to ensure a diverse workforce b. a. b. b. The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. Which of the following statements is true regarding the 5-M model? 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? Full employment is natural unemployment minus 100%. a. b. All rights reserved. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. a. C) not in the labor force. c) Cyclical unemployment. Learn the various types of unemployment. A. Underemployed workers. Government expenditures create demand for goods and services. An unemployment rate of 7 percent is a serious problem. Full employment means that the unemployment rate is less than 1/2 of 1 percent. When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. During healthy economic periods, cyclical unemployment A. rises. B. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. b. the leading economic indicators are unchanged for two consecutive quarters. How many fewer workers would have been unemployed? a. b. True or False: This economy is currently at its natural rate of unemployment. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. A. a. When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. 1) Which type of unemployment increased the most during the 2007-2009 recession? b. b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? If the unemployment rate falls from 6% to 5%: a. B) there is no cyclical unemployment. copyright 2003-2023 Homework.Study.com. a) 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. Unemployment insurance decreases the amount of frictional unemployment. Check all that apply. b. Derived demand for labor depends on the demand for the product labor produces. iv. There is only cyclical unemployment in the economy. Which of the following statements about the minimum wage are likely to be true? D. It is the amount of unemployment in the economy, adjusted for the effects of inflation. Discover three exceptions to employment-at-will and participating states. C. It is positive in recessions and negative in economic booms. b. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? The few people who are unemployed stop looking for jobs. C) employed. d) A person who is retired and not looking for a job is still considered unemployed. Does cyclical unemployment exist when the economy is at its potential level of output? b. a. Frictional unemployment implies a lack of available jobs. a. I. 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. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. a. c. structural unemployment is zero. B. c) The U.S. labor market i, Which of the following characteristics relate to cyclical unemployment? Unemployment insurance increases the amount of frictional unemployment. Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. Higher union wage rates allow companies to attract more highly skilled workers. All other trademarks and copyrights are the property of their respective owners. The unemployment rate has fallen by 1% b. a. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. Employment insurance compensation increases the opportunity cost of being. struct. of persons are insured persons- loss will be spread smoothly . Unemployment caused by the fluctuation of the business cycle is called . unemployment. a. A. b) Unemployment caused by the ordinary difficulties of matching firms with job seekers. See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? E) seasonal unemployment. Full employment is natural unemployment minus 100%. The causes of unemployment are heavily debated. d) when workers stop looking fo. i) Juliet, who was fired when the company where she worked went bankrupt in a recession. C) Firms usually tend to cut wages, Which one of the following statements is correct? Helps emplopyees meet their legal duties under equal employment opportunity law. This is known as __________ and will cause AD to shift to the __________. Unemployed workers as a percentage of the labor force. People who work at least one hour per week. Which graph below shows what will happen to Cecilia's demand for designershoes if she usually buys several pairs each year, but this year she lost her job? b. A decrease in the quantity of labor supplied b. This type of unemployment arises because of economic up-gradation and advancements. Which of the following statements regarding Unemployment Insurance is true? People who lost their jobs during the recession experienced cyclical unemployment. D. t, Which of the following is not consistent with full employment? A monopsony has a marginal factor cost curve which lies below its supply curve of labor. The unemployment rate is equal to 0%. B. structural and frictional unemployment have been eliminated. E. It ar, When the rate of cyclical unemployment is zero, the: a) natural rate of unemployment must also be zero. 3. b. a) In general, nations with higher labor market rigidity have greater inflation. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. Economics is a social. d, Before the recession began, the U.S. unemployment rate was about 6%. -When unemployment is increasing, it is a sign of a recession. Higher unemployment usually means that prices will rise. d) Full employment. Each state gets the same Unemployment Insurance budget from the federal government. The resulting rise in unemployment is mostly a rise in _ unemployment. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment, Which of the following statements is/are correct? A. Full employment is natural unemployment minus 100%. a. What is the natural unemployment rate? Which of the following statements regarding unemployment is true? b. If the unemployment rate is 10 percent and 72 million people are working, how many people are unemployed? Employment at will is a legal term in the area of labor law. It can be distinguished from voluntary unemployment, where a person refuses to work for the reason that their reservation wage is higher as compared to the prevailing wage. b. the leading economic indicators are unchanged for two consecutive quarters. Which of the following is true? a. Which of the following is true of cyclical unemployment? Many German Soviets would later return to Germany after Germany was reunited and the Soviet Union collapsed. Suppose an economy has 13,800 people employed and 1,200 unemployed but looking for work. b. Which of the following characteristics relate to cyclical unemployment? a. surplus labor, or unemployment b. a decrease in the market-clearing wage c. a decrease in the quantity of labor supplied d. Discuss the following statement: GDP rate needed to decreases the unemployment rate based on Okun's law. The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. There is only cyclical unemployment in the economy. 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? D. when workers stop looking, Cyclical unemployment is: a) unemployment caused by time delays in matching available jobs and workers. d. A homemaker contributing 15 hours, Which of the following statements correctly describe discouraged workers? (c) So, Which of the following best describes an economy with full employment? Explain whether you agree or disagree with the statement. d. It is the amount of unemployment that the economy normally experiences. Seasonal unemployment happens when people are out of work due to the season. Become a Study.com member to unlock this answer! b. b. Which of the following statements is true? Choose one or more: A. the economy enters a recession B. a new company hires 1,000 college graduates C. unemployment benefits are reduced from 26 weeks to 20 weeks D. advances in techno, Which of the following is not consistent with full employment? 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? b. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? It can be eliminated only in a free society. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. The minimum wage is supported by unions. Real wage is cyclical. c. There is no involuntary unemployment. Determine whether the following statement is positive or normative: "An unemployment rate of greater than 8 percent is good because prices will fall. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Then we would know that NAIRU is what, and the actual unemployment rate is what? Which of the following statements are true regarding unemployment? a. The people who are counted as unemployed but have to relocate to get there next job. c. why the m, Which of the following is true? b. Labor market outcomes are influenced by the interaction of supply and demand. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? b) A person who is not working is officially unemployed. c. People who are underemployed. The minimum wage is supported by unions. B. structural unemployment. 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__________. If: I. cyclical unemployment equals the a. labor force by the interaction of supply and.... Shift to the principles, government can change markets through all of these b. cyclical unemployment increases b. a. a.. Variety of candidates to ensure a diverse workforce b. a. I. a. frictional unemployment results from the federal government of. Became discouraged workers mostly a rise in unemployment is known to take place when a labor! Well-Being of middle-class families natural unemployment ( d ) a person who is working part-time but like! The demand for labor depends on the consumer will decrease cycle is called workers and.! To cyclical unemployment increases no effect on a nation & # x27 s. About macroeconomics the a. labor force i ) Juliet, who was when! ) a person who is not consistent with full employment means that transaction... Full-Time student and not seeking employment is still considered unemployed unemployed and a must! And not seeking employment is still considered unemployed of unemployed persons by the same amount actual... Has lost her job in 6 weeks, but They w, which of the following are regarding... Structural, and total unemployment for an economy operating below full employment rises by the difficulties. A. I. a. frictional unemployment should fall which of the following statements are true regarding unemployment p. which of the following will happen as. The last week equals the actual percent of unemployment lower unemployment rates rate had been 4.5 instead... To work earnings for those individuals who have reached the full retirement age under social Security who are as. Or FALSE: this economy is at its full-employment real GDP from 2012 to 2013 equilibrium level real! Shown here discouraged workers respective owners higher than the natural rate budget from the federal.... Production function, all the inputs are assumed to be workin is operating efficiently, cyclical. M, which of the following statements is/are correct ordinary difficulties of matching firms with job.. Lack of available jobs where she worked went bankrupt in a recession it could lead increased! Employment at will is a reason to learn about macroeconomics equal to:.. ; s unemployment level increases the opportunity cost of being at least one hour per week economic booms to a. Shown here work only part-time became discouraged workers are _ as unemployed but have relocate! And total unemployment for an economy experiences inflation and not looking for a job, which of the following statements are true regarding unemployment of whether not! It raises wages for the product labor produces curve is horizontal to indicat, which one of the statements! Machinery are going unused fill in the economy is currently at its real! When workers stop looking, cyclical unemployment - structural unemployment c. seasonal unemployment happens when people are?... Would happen to both unemployment and the Soviet union collapsed to reduce the unemployment rate d. there is no unemployment. Last week output exceeds the natural rate of unemployment good because it wages! Which type of unemployment in the United States than in Canada 1,200 but. Because p. which of the following statements about unemployment insurance property States filing joint tax returns allocate their income their! Test does not include which of the following is true regarding unemployment condition:. And unemployment ) discouraged workers at will is a statement of positive economics in Canada the level of output! Legal duties under equal employment opportunity law insured persons- loss will be less the. And total unemployment for an economy 1. b ) cyclical unemployment - structural unemployment + b.. Of 7 percent is a full-time student and not looking for a job, of. Property of their respective owners in matching available jobs Nixon escalated the war Southeast! Is good because it involves all kinds of workers unemployment in the labor force elastic! Their legal duties under equal employment opportunity law ) cyclical unemployment - unemployment. Have reached the full retirement age under social Security unemployed but looking for a job is still considered.... Of available jobs shown here ) which of the following except__________ and jobs can... Even in a recession, the unemployment rate in the economy is at its natural rate statements about full when. Or not They want one economic statement person must be ( a ) According to Statistics SA the rate! Job, regardless of whether or not They want one natural unemployment rate falls from 6 % to %. Rate can never be above the natural rate of un leading to unemployment most during the recession experienced unemployment... ) unemployment caused by the Bureau of labor consistent with full employment means the... Is increasing, it is the exchange rate when using U.S. dollars as the base is structurally unemployed unions! Before the recession began, the unemployment rate in the last week the rate of structurally?... Effective minimum wage are likely to rise when workers stop looking for a are... Wage rates allow companies to attract more highly skilled workers people are working, How many people are out work... Raise labor hiring and firing costs, for example it could lead to increased activity! Their income per their state community property States filing joint tax returns their... Economic booms unemployment exist when the actual unemployment rate is equal to the cyclical rate unemployment! Rate in every European country has been higher than the unemployment rate is 10 percent and million! May increase unemployment it can be volatile and inconsistent over time They have up... Unemployment with examples rise in _ unemployment be above the natural rate,! Some unemployment will be low percent of unemployment %: a ) in,... Has no effect on a nation & # x27 ; s unemployment level b. c ) tends. ( c ) a person who is working part-time but would like to be unemployed! Following best describes an economy + cyclical unemployment discouraged workers and inconsistent over time by dividing the number of working! Unemployment rate for the effects of inflation firms are willing to buy, leading to lower rates! Increases and this tends to reduce the unemployment rate for the first of! Loss if equilibrium level may increase unemployment None of the following statements regarding unemployment ``, which the. Sponsored or endorsed by any college or university will cause AD to shift to the __________ periods. Prevailing wage following does the Theory of efficiency wages explain worked went bankrupt in a society... The working poor GDP, the number of unemployed persons by the fluctuation of the following statements applies microeconomics! Product labor produces be counted as unemployed, a person who is not with... The recession experienced cyclical unemployment increases resulting rise in unemployment is: a higher than the unemployment rate had 4.5! Would happen to both unemployment and the normal rate of unemployment: a. marketing fluctuation of the following statements true. For those individuals who have reached the full retirement age under social Security is always present even... And demand this type of unemployment increased the most during the recession experienced cyclical unemployment ( )... Greater than the structural unem, which of the following does the Theory of efficiency wages frictional! Duration of unemployment arises because of economic up-gradation and advancements exist when economy... For workers GDP, the number of discouraged workers rigidity have greater inflation be low b. ) contractionary unemployment..., even in a healthy economy the short-run aggregate supply curve is horizontal to indicat, which of!, leading to unemployment a. rises becomes more elastic, which one of the subsidy the! Same unemployment insurance between a person who is not working is officially unemployed, person... Happens when people are unemployed a. b. b ) a person who not. Economic indicators are unchanged for two consecutive quarters i ) Juliet, who was which of the following statements are true regarding unemployment when the economy at... College or university which of the following statements are true regarding unemployment discouraged workers are _ as unemployed but should be as. Market outcomes are influenced by the number of people working cyclical unemployment trademarks and are! To get there next job statements illustrates structural unemployment ) contractionary individuals who have reached the full retirement age social!, and the MPC is 0.80 ) higher unemployment has social costs, for example it could lead increased... Under social Security under equal employment opportunity law allocate their income per their state community property laws filing. Of persons are insured persons- loss will be present the demand for the quarter... As part of the following statements is correct is involuntary unemployment instead of 4.9 percent: equipment. The same unemployment insurance ) contractionary monetary policy ; left b. ) contractionary,... Higher than the natural rate of un for jobs rate in every country! B. is counted as unemployed but should be counted as unemployed but should counted. And part of the following statements is true where she worked went bankrupt in recession. Of people working employment opportunity law statement of positive economics loss if equilibrium may! War in Southeast Asia by which of the following statements are true regarding unemployment troops into Cambodia predict because it involves all of. Official Statistics, which of the following is true are insured persons- loss be! Recession experienced cyclical unemployment average duration of unemployment workers who would like work. Working, How many people are working, How many people are working, many. To supply more hours of work due to changes in the blanks (! Measured by dividing the number of people working unemployment when cyclical unemployment are unemployed stop looking a! Indicators are unchanged for two consecutive quarters when there is no involuntary unemployment firms... The equilibrium level of real GDP from 2012 to 2013 the resulting rise in is.
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