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Exam 6: Jobs and Unemployment

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Question 21

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The unemployment rate generally _{-------------}during recessions and generally_{-------------} during expansions.

A) decreases; decreases
B) decreases; increases
C) increases; increases
D) increases; decreases
E) increases; does not change

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Question 22

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Consider the following people: · Chris quits his job as an automobile mechanic to pursue his college education full-time. · Darrelo was laid off from her technical support job because of a strike by production workers and is currently looking for a new job. · Rita graduated from college and is currently looking for a job. · Armondo quit his old job and will begin his new job in four days. · Thorton was fired from his job as a steel worker because of massive imports of steel and he is looking for a new job. · Jung was laid off from his job as an appraiser because the firm's business declined because of a general downturn in the economy and he is currently looking for a new job as an appraiser. -According to the scenario above, in which of the following groups are all the people structurally Unemployed?

A) Darrelo and Thorton
B) Thorton and Darrelo
C) Jung
D) Rita, Armondo, and Chris
E) Thorton

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Question 23

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People who are willing and able to work but are not looking for work because they have been discouraged by their previous futile efforts are called

The women's labor force participation rate is

$\begin{array} { l c } \hline { \text { Category } } & \begin{array} { c } \text { Number of people } \\\text { (millions) }\end{array} \\\hline \text { Total population } & 250 \\\text { Working-age population } & 160 \\\text { Labor force } & 120 \\\text { Part-time workers } & 15 \\\text { Full-time workers } & 100 \\\text { Discouraged workers } & 2 \\\hline\end{array}$ - Using the table above, the unemployment rate is

Bo is available and willing to work but has not actively looked for work in the past month. Bo is_{-------------} Of the labor force and is _{-------------}.

Consider the following people: · Chris quits his job as an automobile mechanic to pursue his college education full-time. · Arrelo is temporarily laid off from her technical support job because of a strike by production workers. · Schurita graduated from college in May and is currently looking for a job. · Bo quit his job on September 1 and then, after looking for a new job, will begin his new job on October 1. · Terri retired from his job on May 1. · Vicki works part-time at Bainen Press to help pay her college tuition. -Vicki would be classified as

$\begin{array} { l c } \hline { \text { Category } } & \begin{array} { c } \text { Number of people } \\\text { (millions) }\end{array} \\\hline \text { Total population } & 250 \\\text { Less than 16 years of age } & 30 \\\text { Institutionalized } & 15 \\\text { Part-time workers } & 20 \\\text { Full-time workers } & 145 \\\text { Looking for work in the past 4 weeks } & 10 \\\text { In U.S. Armed Forces } & 10 \\\hline\end{array}$ - Using the table above, the unemployment rate is

The type of unemployment that arises from a decrease in real GDP is called

Suppose a 23-year old graduate student is looking for a full-time job , but has to take a part-time job instead. He or she will be categorized in the Current Population Survey as_{-------------} when calculating the unemployment rate.

In calculating the unemployment rate, part-time workers over the age of 16 are counted as

The labor force is the

Potential GDP is the level of output produced when the unemployment rate is

$\begin{array} { l c } \hline { \text { Category } } & \begin{array} { c } \text { Number of People } \\\text { (thousands) }\end{array} \\\hline \text { Employment } & 27,793 \\\text { Unemployment } & 1,619 \\\text { Working-age population } & 46,581 \\\hline\end{array}$ The table above shows data reported by the Office for National Statistics for the United Kingdom in September 2000. In September 2000, the labor force participation rate is

During a recession, cyclical unemployment_{-------------} and real GDP _{-------------}

Structural unemployment includes people who become unemployed from

In fall 2009, the population of the United States was 301 million, the working-age population was 235.7 million, the total number of people employed and unemployed was 154.9 million, and the total number of unemployed people was 14.7 million. What is the unemployment rate?

Discouraged workers who are over 16 years old are i. not counted as unemployed. Ii. part of the working-age population. iii. part of the labor force.

Mary has decided that the she does not like Iowa and has decided to quit her job as a medical technician and move to Arizona. Mary's unemployment as she searches for a new job is best classified as

U-1 is a more _{-------------} measure of unemployment rate than the conventional U-3 measure and U-1 counts as unemployed workers who _{-------------}.