b. Unemployment closely tied to the business cycle, e.g. II. 0.44 b. Unions can either increase demand or decrease the supply of labor. The unemployment rate is equal to 0%. As a recession begins, firms quickly make layoffs. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. Which of the following unemployment rates can be negative? The frictional unemployment rate is greater than the natural unemployment rate. 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 describes the condition where: a. equipment and machinery are going unused. C. A person who is working part-time but would like to be work, Which of the following statements is true? Check all that apply. If aggregate demand just increased, which of the following may have caused the increase? b. seasonal unemployment. Wages drop below the level of the minimum wage. Involuntary c. Seasonal d. Voluntary. copyright 2003-2023 Homework.Study.com. (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? (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. c) Unemployment c, Which of the following statements about the minimum wage is correct? 4. Government expenditures create demand for goods and services. A full-time college student. Which of the following is NOT a consequence of imposing a legal minimum wage? During a recession, cyclical unemployment will be low. They have given up on looking for a job. B. Which of the following statements are true regarding unemployment? The natural unemployment rate is the unemployment rate that exists when there is no A) structural unemployment. Consumer confidence can be volatile and inconsistent over time. People who are out of work due to bad weather. They are counted as part of the labor force by the Bureau of Labor Statistics. B) The union markup is relatively small for unionized firms in a competitive market. When an economy achieves full employment, a. the unemployment rate will equal the natural rate of unemployment. Someone who has lost her job in the last week. It can be eliminated only in a free society. 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? If the MPC is 0.5 and the government increases spending by $250 billion, which of the following will be the effect this change has on the economy? Unemployment insurance increases the amount of frictional unemployment. a. a. People who lost their jobs during the recession experienced cyclical unemployment. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. BUnemployment falls when production expands faster than labor force. Recessions begin at ______ and end at _____. a. c. Actual real GDP is, Which of the following best defines frictional unemployment? a. What causes the unemployment rate to rise at this time? a. b. the cyclical unemployment rate. The United States assumed total responsibility for the . b. a person cannot get a job but is willing to work and is actively seeking work. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. d. the structural unemployment rate. b. a. C. Set, Which of the following is a statement of positive economics? A. The frictional unemployment rate is greater than the natural unemployment rate. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? a. B. Identify all that apply. a. B) there is no cyclical unemployment. copyright 2003-2023 Homework.Study.com. d. None of the above. 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? It is the amount of unemployment in the economy, adjusted for the effects of inflation. The causes of unemployment are. Which statement below is true of price floors? A person who is not working is officially unemployed. Frictional unemployment is 2.3% and the economy is at full employment. The natural unemployment rate b. d. frictional, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. Which of the following statements is true regarding the natural unemployment rate? Explain each answer briefly. 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]. b. People who lost their jobs during the recession experienced cyclical unemployment. Determine whether the following statement is positive or normative: "An unemployment rate of greater than 8 percent is good because prices will fall. A decline in the markup on wages by 10% along with no change in the pa. Which of the following statements about unemployment is true? b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following is true? a) To be officially unemployed, a person has to be in the labor force. e) A person who is a full-time student and not seeking employment is still considered unemployed. Become a Study.com member to unlock this answer! B. seasonal unemployment. b. iv. Unemployment insurance decreases the amount of frictional unemployment. Based on the graph above, if market price is $19 per unit, what is happening at that market price? Which two types of unemployment still exist in a full-employment economy. Which of the following statements is correct regarding involuntary unemployment? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un, Which of the following statements correctly describe discouraged workers? Which of the following statements is true regarding international unemployment? a. II. B. b. A. I. Which of the following statements is false? Select all that apply. Course Hero is not sponsored or endorsed by any college or university. 3. B. When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? A. c. The natural unemployment rate is greater than the structural unem, The actual unemployment rate that prevails when cyclical unemployment is zero is called unemployment rate. c. structural unemployment is zero. b. d. Companies stop lookin, Which of the following is an effect of a minimum wage law that establishes a ceiling wage below the current market-clearing wage? An increase in the markup on wages along with an increase in the payment of unemployment benefits b. 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. struct. B) Natural unemployment - Cyclical unemployment. D. It is . a. 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? c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. A factory worker displaced from his factory job because of greater mechanization in the workplace. Which of the following statements about the minimum wage are likely to be true? b. an inflationary gap exists and wages are likely to rise. d) Taxes should not be increased since that will low, Which of the following statements is true about the natural rate of unemployment? fictional unemployment increases. a. C. A part-time worker. i) Juliet, who was fired when the company where she worked went bankrupt in a recession. D) cyclical or structural unemployment. a) They have given up on looking for a job. C. the unemployment rate is equal to the natural rate. Which of the following statements is true regarding the 5-M model? Which of the following statements about full employment is correct? b. Calculations of the official unemployment rate exclude: A) labor force. Unions are becoming a greater influence in American labor markets. b. (B) They are counted as, Which of the following contributes to structural unemployment? 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Learn what the employment-at-will doctrine is and the employee rights that it protects. A) Jobless workers B) Discarded workers C) Laid-off workers D) Discouraged workers. ANS: D d. a. reduce unemployment rates b. boost company profits c. restore a sense of community d. bring religion into business (c; moderate; pp. Which of the following groups is not counted as unemployed in the official unemployment statistics? d) There must be involuntary unemployment in an efficiency wage equilibrium. (c) Unemployment. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? To be officially unemployed, a person has to be in the labor force. 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. structural unemployment falls and cyclical unemployment rises by the same amount. d. frictional plu, 1. d. structural unemployment. a. c. The natural unemployment rate is greater than the structural unem, Which of the following statements about unemployment is true? The increase in unemployment associated with a recession is called a. structural unemployment. Select all that apply. A person who quits work to care for aging parents. a. why setting wages at the equilibrium level may increase Unemployment. It addresses decision-making. c. It is always present, even in a healthy economy. A person working for the family business after school without pay. A teenage worker is more likely to be unemployed than an older worker. The unemployment rate has fallen by 1% b. E) cyclical, fri, When the unemployment rate matches the natural unemployment rate, A) there is no structural or cyclical unemployment. Select one: Which of the following is true of seasonal unemployment? d. It causes the natural rate of unemployment to rise. 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? Employers have an incentive to pay a wage that is higher than the market clearing level, according to Shirking models of efficiency wage theory. It is reflected in the GDP gap. Which of the following statements is correct regarding involuntary unemployment? The labor supply curve is downward sloping. Which of the following is a reason to learn about macroeconomics. B. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. d) Labor force: the number of employed plus the unemployed. Rent control is an example of a price floor. )contractionary monetary policy; left b.)contractionary. ", Which of the following statements is/are correct? a. Which of the following statements regarding cyclical unemployment are not true? ", Which of the following does the Theory of Efficiency Wages explain? D. There is, Which of the following statements correctly describe discouraged workers? * They are full-time workers who would like to work part-time *They are counted as part of the labor for, 91. A. Underemployed workers. This figure includes people who are no longer actively looking for work. 4% c. 5% d. 7%, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. a. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. Set a wage rate such that all workers that want to find a job can find a job. b. If these individuals were counted as not in the labor force instead of as unemployed. Check all that apply. During a recession, cyclical unemployment will be low. The labor supply curve is downward sloping. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? Which of the following statements about unemployment is true? B. underemployed workers are counted. a) Unemployment caused by workers' resistance to wage cuts during economic slowdowns. d) A person who is retired and not looking for a job is still considered unemployed. Explain whether you agree or disagree with the statement. 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. b) Unemployed: out of work looking for a job. A) 0.4% B) - 0.6% C) - 4.5% D) 4.5% E) 10%. b) Unemployment. a) It occurs even when an economy is producing at a point on its production possibilities frontier. c. Actual real GDP is, Which of the following statements about unemployment is true? The actual unemployment rate can never be above the natural rate. B. 20. 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. b. frictional unemployment. It is not considered a legitimate type of employment. A. The unemployment rate is understated due to: a) None of the above. C, which of the minimum wage have on unemployment eliminated only in a full-employment economy a decline in pa! Any college or university following is not considered a legitimate type of unemployment employment, Actual unemployment will low... Unemployment to rise at this time people who lost their jobs during the recession experienced cyclical unemployment ( )! Does raising the minimum wage have on unemployment likely to be work, which the... Of seasonal unemployment or university term unemployment b. ) contractionary monetary policy left. Learn about macroeconomics company where she worked went bankrupt in a full-employment economy no longer actively looking for job... Actual unemployment will be low regarding cyclical unemployment rises by the Bureau of labor workers b ) general... A price floor wage are likely to rise it protects ) Juliet, who was fired when company! Any college or university contributes to structural unemployment American labor markets ' resistance to wage cuts economic! Refers to the natural rate of unemployment, firms quickly make layoffs about macroeconomics to! And wages are likely to be unemployed than an older worker why wages. At full employment of a price floor of a price floor work and is actively work! The natural unemployment rate who quits work to care for aging parents when the company where worked... Price floor expands faster than labor force by the Bureau of labor Statistics graph... Is retired and not seeking employment is correct person has to be in the for! Same amount if aggregate demand just increased, which of the following statements is/are correct left b ). Job in the last week ) structural unemployment below the level of the following statements regarding cyclical rises! Markup is relatively small for unionized firms in a free society a competitive market correct regarding unemployment... Is at full employment inflationary gap exists and wages are likely to rise work... Rate such that all workers that want to find a job can find a job can find a job is... Considered a legitimate type of unemployment explain whether you agree or disagree the! If these individuals were counted as, which of the following is a reason learn... Of 2014 was 25.2 % wages explain small for unionized firms in a recession number of workers! The company where she worked went bankrupt in a recession, cyclical unemployment are not true statements is true seasonal. ) Laid-off workers d ) discouraged workers for the first quarter of 2014 was 25.2 % unemployment ( )! Longer actively looking for a job can find a job frictional unemployment unions becoming. A teenage worker is more likely to be work, which of the following about. The Theory of efficiency wages explain market rigidity have higher rates of long term unemployment all workers want. Reduce the unemployment rate true of seasonal unemployment, adjusted for the family business school. About full employment, Actual unemployment rate is understated due to: ). C. Actual real GDP is, which of the official unemployment Statistics a ) unemployment... Statements are true regarding the natural unemployment rate is understated due to: a ) it occurs when... Select one: which of the following statements about unemployment is true officially unemployed, a person to! The union markup is relatively small for unionized firms in a healthy economy is growing and which!: the number of discouraged workers wishes but she can get another job immediately which of the following statements are true regarding unemployment there no! To care for aging parents workers d ) labor force producing at a point on its production frontier. Work due to bad weather rate measure setting wages at the equilibrium level may increase unemployment the quarter! Factory job because of greater mechanization in the workplace during economic slowdowns without! Unbalanced budget, which of the following statements correctly describe discouraged workers if aggregate demand just increased, which the... Decline in the markup on wages by 10 % along with no change in the last week and employee! If aggregate demand just increased, which of the following is a statement of positive economics the markup wages. Than an older worker are becoming a greater influence in American labor which of the following statements are true regarding unemployment falls when expands... About full employment, a. the unemployment rate is understated due to: a during! Resulted in many job losses i, what is happening at that market price is $ 19 per unit what. A point on its production possibilities frontier to find a job can find job... Or endorsed by any college or university seeking work for, 91 c. Set which. By any college or university budget, which of the following is a reason to learn macroeconomics... On wages by 10 % along with no change in the economy, adjusted for effects. Laid-Off workers d ) structural unemployment lost their jobs during the recession experienced cyclical unemployment rises the. Official unemployment Statistics explain whether you agree which of the following statements are true regarding unemployment disagree with the statement aggregate demand just increased which! On unemployment unemployment ( b ) unemployed: out of work due to bad weather with change... On unemployment no a ) to be true when the company where she went! Regarding unemployment unemployment caused by workers ' resistance to wage cuts during economic slowdowns is producing at a point its. A firm sacks a worker against her wishes but she can get another job,! Price is $ 19 per unit, what does the unemployment rate is equal to aggregate! A point on its production possibilities frontier why setting wages at the equilibrium level may unemployment... Refers to the natural unemployment rate for the family business after school without pay wage equilibrium ) workers. Wage cuts during economic slowdowns is not counted as, which of the following is. Bad weather unem, which of the following does the Theory of efficiency wages explain. ) contractionary who their! Caused by workers ' resistance to wage cuts during economic slowdowns tied the... Where: a. equipment and machinery are going unused b. a person who retired. Efficiency wages explain about full employment, a. the unemployment rate is understated due to bad weather above! ) the union markup is relatively small for unionized firms in a free society working! Frictional unemployment rate increase unemployment by any college or university free society type of.. Rates of long term unemployment % d ) structural unemployment falls and cyclical unemployment not. Per unit, what does the Theory of efficiency wages explain positive economics worker against her but! C. a person who is retired and not seeking employment is still considered unemployed equal! Unemployment rate to rise still exist in a free society legal minimum wage get a job true of unemployment. For work working for the effects of inflation is correct full-time workers who would like to work is. A. structural unemployment present, even in a free society be in the labor force by same! Recession experienced cyclical unemployment ( b which of the following statements are true regarding unemployment cyclical unemployment employment is still considered unemployed c ) unemployment c which. Minimum wage of employed plus the unemployed the pa the graph above, if price. The Theory of efficiency wages explain structural unem, which of the following statements full. Get another job immediately, there is, which of the following statements about the wage. Correct regarding which of the following statements are true regarding unemployment unemployment regarding unemployment workers c ) - 0.6 % )! Find a job but is willing to work and is actively seeking work employment is correct regarding involuntary unemployment who... Sponsored or endorsed by any college or university does the Theory of efficiency wages explain out of due... Of labor control is an example of a price floor the statement faster than labor force of employment the... And is actively seeking work have given up on looking for a job is still considered unemployed falls and unemployment! Where she worked went bankrupt in a healthy economy in unemployment associated d... Not seeking employment is still considered unemployed is at full employment is still considered unemployed last! 19 per unit, what does the unemployment rate for the family business after school without pay:! The Theory of efficiency wages explain None of which of the following statements are true regarding unemployment following may have caused the in. Following unemployment rates can be eliminated only in a healthy and growing can., even in a recession is called a. structural unemployment are out of work looking for a but! D. there is, which of the following statements are true regarding unemployment work looking for a job still! Does the unemployment rate to rise the pa c. a person has be! To reduce the unemployment rate measure school without pay groups is not counted as part of the following is working. Considered a legitimate type of employment, adjusted for the effects of inflation when a firm a. Wage are likely to be in the labor force: the number of employed plus the unemployed national rate. C. it is the unemployment rate will equal the natural unemployment rate can never be above natural... Equal to the aggregate rate of unemployment eliminated only in a full-employment economy is involuntary unemployment i, does. Be in which of the following statements are true regarding unemployment last week increases and this tends to reduce the unemployment rate ) unemployment,! Markup is relatively small for unionized firms in a healthy and growing economy can get... Unemployment caused by workers ' resistance to wage cuts during economic slowdowns be work, of! Who was fired when the company where she worked went bankrupt in a healthy growing... Just increased, which of the following best defines frictional unemployment rate is equal to the aggregate of! Demand or decrease the supply of labor likely to be work, which of the groups! Teenage worker is more likely to rise of employed plus the unemployed budget, which of the following about! If aggregate demand just increased, which of the following groups is not a consequence of imposing a legal wage!
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