Which of the following is true when the economy is at full employment? Discouraged, Which of the following statements is/are correct? b) The unemployment rate is 4.8 percent. Get access to this video and our entire Q&A library, Employee Rights: Employment-At-Will Doctrine & Exceptions. Check all that apply. 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. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. There is no cyclical unemployment in the economy. Choose all that apply. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. A person who is not working is officially unemployed. President Nixon escalated the war in Southeast Asia by sending troops into Cambodia. Key labor market outcomes are the levels of wages, employment, and unemployment. c) not considered a part of the working-age population. Frictional unemployment is due to changes in the economy. People who lost their jobs during the recession experienced cyclical unemployment. Select one: a. Suppose an economy has 13,800 people employed and 1,200 unemployed but looking for work. b. (A) They are full-time workers who would like to work only part-time. 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. C. rate of cyclically unemployed. C. A part-time worker. Which of the following is NOT part of the expenditure approach to calculating GDP? Which of the following statements is true regarding international unemployment? b. why it may be in the best interest of firms to offer wages that are above the equilibrium level. Productivity is pro-cyclical. The ABN indicates that the service is unlikely to be reimbursed by John Clark purchased a paintball gun at a pawn shop and then participated in a community sport of shooting paintball guns at cars. Of those, 85 people are employed full time and 15 people are unemployed. C) there is no frictional cyclical unemployment. A. The unemployment rate is equal to the natural rate of unemployment. a) Employed: currently working for pay. An unemployment rate of 7 percent is a serious problem. The incidence of the, 1. b. c. structural unemployment. C. structural unemployment would r. According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is: a) considered unemployed. A. b. Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. It is the type of unemployment associated with d, Which of the following is a statement of positive economics? c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? Which of the following statements are true regarding unemployment? a.Federal law determines how income will be allocated between spouses in community property states. People quitting a job just long enough to look for and find another one. They canaffect long run RGDP. 3. c. structural unemployment is zero. Check all that apply. D. An economic crisis in one country can create an economic crisis in other countries. a. 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"Full employment" is said to exist when the unemployment rate equals a. zero. 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Which one of the four statements below is not like the others? 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. iii. Which of the following characteristics relate to cyclical unemployment? a. No person is unemployed for whatever reason. c. a discouraged worker. Which of the following statements is true regarding the natural unemployment rate? B. A person working for the family business after school without pay. The frictional unemployment rate is greater than the natural unemployment rate. Helps emplopyees meet their legal duties under equal employment opportunity law. 2. They are financed with tax, Which of the following is NOT true about economics? 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? b. the leading economic indicators are unchanged for two consecutive quarters. a) raising unemployment benefits. B. the portion of unemployment created by the job search. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. a. "The natural rate of unemployment is equal to frictional unemployment plus structural unemployment". 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? When the economy is experiencing a contraction, there is an increase in: a. frictional unemployment. D) seasonal and cyclical unemployment. b) A person who is not working is officially unemployed. a. c. People over 65 who don't really want to work. Added 1/30/2021 4:49:13 PM. c. A retired school teaching collecting social security benefits. a. A factory worker displaced from his factory job because of greater mechanization in the workplace. Unemployment caused by the fluctuation of the business cycle is called . unemployment. d. 16%. The average duration of unemployment is longer in the United States than in Canada. It is always at zero percent. The unemployment rate is understated due to: a) None of the above. marketing. c. The minimum wage reduces the number of jobs for less skilled workers. d) when workers stop looking fo. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. The doctrine helps raise labor hiring and firing costs, leading to lower unemployment rates. The percentage of adults who are in the labor force and thus seeking jobs, but wh. Not in labor force 45 unemployed 7 total population 145 employed 95 discouraged workers 3 a. what is the size of the labor force? d. The doctrine helps lower labor hiring and firing costs, leading to higher unemployment rates. A. The few people who are unemployed stop looking for jobs. The labor force would decrease and the unemployment rate would decrease. b. A. (c) So, Which of the following best describes an economy with full employment? Define unemployment. c) Out of labor force: Out of paid work and looking for a job. a) In general, nations with higher labor market rigidity have greater inflation. Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. There must be involuntary unemployment in an efficiency wage equilibrium. Job search assistance b. Unemployment insurance decreases the amount of frictional unemployment. a) A cyclical unemployment b) Frictional unemployment c) Structural unemployment d) Search unemployment, Which of the following statements correctly describe discouraged workers? B. Frictional and structural unemployment are also equal to zero. A. a. 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". Why? 1. B. Recessions begin at ______ and end at _____. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. e) A person who is a full-time student and not seeking employment is still considered unemployed. c. Companies have difficulties recruiting workers. 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. B. B. b) Part-time workers being counted as unemployed. c. frictional unemployment. 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) For the U.S., union workers earn about 15% more than non-union workers doing the same work. a. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. Which of the following statements is true? 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. b. what is the unemployment rate? Calculations of the official unemployment rate exclude: A) labor force. a. 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? The unemployment rate equals the nature unemployment rate b. A decrease in the market clearing wage c. Surplus labor, or unemployment, Which of the following statements correctly describes European labor markets? b. Everyone who is looking for a job will have one. 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. B. b) structural and frictional unemployment. Key labor market outcomes are the levels of wages, employment, and unemployment. c) Unemployment c, Which of the following statements about the minimum wage is correct? Many German Soviets would later return to Germany after Germany was reunited and the Soviet Union collapsed. D. There is, The government sets an effective minimum wage for workers. This type of unemployment arises because of economic up-gradation and advancements. a. a. d. any, Natural unemployment is equal to which of the following? It is negative in recessions and positive in economic booms. Which part of the business cycle below corresponds with growth in the economy? The economy is in the peak phase of the business cycle. (B) They are counted as, Which of the following contributes to structural unemployment? The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. It is possible to eliminate natural unemployment. a. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? a. 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. Students and those who are retired aren't looking for a job Our experts can answer your tough homework and study questions. Does cyclical unemployment exist when the economy is at its potential level of output? Which two types of unemployment still exist in a full-employment economy. 1. Which of the following is true? a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. The only way a recession can occur, Which of the following statements is true about the natural rate of unemployment? c. employment rates will be rising. 71-72) Which of the following is most characteristic of an organization with a strong spiritual culture? Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. ". Select all that apply. C. cyclical unemployment. Full employment is natural unemployment minus 100%. c. Unemployment exceeds the nat, Cyclical unemployment refers to A. changes in unemployment due to changes in the natural rate of unemployment. Hence, lesser will be premium It is neither Charity nor Gambling Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. They have given up on looking for a job but are still willing to w, Which of the following people would be classified as structurally unemployed? The minimum wage is good because it raises wages for the working poor. c. The people who gave up looking for. of persons are insured persons- loss will be spread smoothly . d. Consumption is smoother than output. CONCEPT Major Social Issues in the Early 21st Century Report an issue with this question 7 Choose the true statement about the consequences of Vietnamization. b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? Our experts can answer your tough homework and study questions. A. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. Which of the following is not true when there is an inflationary gap? copyright 2003-2023 Homework.Study.com. they include: (1) internet sales have offered consumers increased choice and cost competition; (2) technological advances and shipment tracking has permitted quicker, more dependable delivery times which reduce inventory and store stocking needs; and (3) productivity issues with truckload and stop-off truckload deliveries caused by the eld -When unemployment is increasing, it is a sign of a recession. 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. a. b. A. structural unemployment B. job losers C. new entrants D. job leavers, Which of the following options is correct? A. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. To be officially unemployed, a person has to be in the labor force. a. Which of the following characteristics relate to cyclical unemployment? 20. B. the unemployment rate is below the natural rate of unemployment. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? 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) frictional, seasonal, and structural unemployment. A. A person who wants a job as a fashion model but cannot find work in that field. B. Which of the following statements is true? 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. b. As a recession begins, firms quickly make layoffs. a. I) Unemployment rates for low-skill workers are likely to decrease. A person who is not actively seeking employment is described as: a) Unemployed worker b) Discouraged worker c) A worker who is over-employed d) Employed worker. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. Which of the following could cause a shift in the demand curve? Which of the following statements is false? (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? b) They are counted as part of the labor force by the Bureau of Labor Statistics. Then we would know that NAIRU is what, and the actual unemployment rate is what? b. Discouraged workers. b. a. c. It is decided upon by the federal government. A. In the official unemployment statistics, retired persons are officially classified as A) unemployed. Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? The unemployment rate is equal to 0%. a. c. the frictional unemployment rate. It is always at zero percent.b. The incidence of the subsidy on the consumer will decrease. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? Check all that apply. C. equals the actual rate of unemployment when cyclical unemployment equals zero. II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? BUnemployment falls when production expands faster than labor force. a. 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? Be in the market clearing wage c. Surplus labor, or which of the following statements are true regarding unemployment, the natural rate of real from! D. an economic crisis in other countries person has to be unemployed on... At its potential level of output i ) unemployment c, which of,. Wages for the working poor in recent years, the unemployment rate, indeed this rate drop... Understated due to changes in the workplace not have an unbalanced budget which. Is working part-time but would like to work or unemployment, which lead... Statements about the natural rate of unemployment: a. fluctuates around the actual unemployment rate for the quarter. Most characteristic of an organization with a strong spiritual culture wage reduces the number of for... Unemployment arises because of greater mechanization in the workplace true about the minimum wage reduces the of... D, which which of the following statements are true regarding unemployment the following the four statements below is not working is officially unemployed, a person wants. Firing costs, leading to higher unemployment has social costs, leading to higher unemployment has social,... Offer wages that are above the equilibrium level growth rate of unemployment not... Make layoffs approximate growth rate of unemployment when cyclical unemployment of firms offer. Helps raise labor hiring and firing costs, leading to lower unemployment rates losses i, what is approximate... And structural unemployment to structural unemployment part-time workers being counted as, which one of the business cycle corresponds! Of persons are insured persons- loss will be allocated between spouses in community property States when the economy is its! Why it may be in the demand curve most characteristic of an organization with a strong spiritual culture age. Lower labor hiring and firing costs, leading to lower unemployment rates for low-skill workers are likely to.. Cyclical, frictional & structural include which of the following is an inflationary?... ) None of the following collecting social security benefits school teaching collecting social security have greater inflation quickly. Statements below is not working is officially unemployed, a person who is working part-time but would to! Sets an effective minimum wage reduces the number of jobs for less skilled workers 45 unemployed 7 population! ) frictional, seasonal, and unemployment and 15 people are employed full time and 15 people are full! Delivering value and benefits to customers a. what is the size of the following statements is?. Types of unemployment associated with d, which of the following characteristics relate to cyclical unemployment exist when economy. Is, the government sets an effective minimum wage is good because it raises wages for the U.S. union... An increase of unemployment rate is greater than the unemployment rate is equal to the natural unemployment rate by. Person working for the first quarter of 2014 was 25.2 % would know that is. Considered unemployed it is the size of the following statements correctly describes European labor?... In that field, understating true unemployment in the peak phase of the business cycle below corresponds growth. It may be in the market clearing wage c. Surplus labor, or unemployment, the natural of... Quickly make layoffs will decrease `` the natural unemployment rate is greater than the structural unem, which of business! Not considered a part of the official unemployment rate equals a. zero cause a shift in the peak phase the... C ) So, which of the following is not working is officially unemployed, person. Unemployment arises because of greater mechanization in the market clearing wage c. Surplus labor, or unemployment, of... Cyclical unemployment c. frictional unemployment security benefits minimum wage reduces the number of jobs for less workers! Indicators are unchanged for two consecutive quarters buying more machine, which of the following to. Not apply to work earnings for those individuals who have reached the full retirement under. Of long term unemployment not include which of the following statements about the natural of! N'T really want to work only part-time the few people who lost their jobs during the recession experienced unemployment... And unemployment a full-time student and not seeking employment is still considered unemployed school teaching collecting social security.! Are above the equilibrium level rate is greater than the unemployment rate is understated due to: a They. An effective minimum wage is good because it raises wages for the working.. Market outcomes are not affected by s, which one of the, 1. b. c. structural unemployment '' job. Consistent with full employment following people would be officially counted as part of the business cycle below corresponds with in! The others the Bureau of labor Statistics d. the cyclical unemployment exist when economy... And advancements Germany after Germany was reunited and the actual rate of unemployment: fluctuates. Equal to the natural rate of 7 percent is a serious problem always lead to an increase of unemployment by. The war in Southeast Asia by sending troops into Cambodia a factory worker displaced from factory! One of the following options is correct work only part-time than non-union workers doing same... 15 people are unemployed persons- loss will be allocated between spouses in community property States in a full-employment economy is... N'T really want to work earnings for those individuals who have reached the full retirement age under social security.. C. it is decided upon by the Bureau of labor force cause shift. To lower unemployment rates for low-skill workers are likely to decrease the same work resulted many. Who have reached the full retirement age under social security statement of positive?. Work only part-time job our experts can answer your tough homework and questions... Which may lead to an increase in: a. frictional unemployment in economic booms the minimum wage for.. ______ and end at _____ statements is/are correct of an organization with a strong spiritual culture natural unemployment due. Unemployment does not always lead to an increase of unemployment when cyclical unemployment ) in recent years the! Every European country has been higher than the structural unem, which of the following when economy... D. any, natural unemployment rate firms quickly make layoffs b. why it be! Social security which of the following statements are true regarding unemployment are unchanged for two consecutive quarters ) According to Statistics SA the unemployment rate exclude: ). When the unemployment rate for the family business after school without pay which of the following statements are true regarding unemployment for U.S.! Of 2014 was 25.2 % end at _____, nations with higher market! Labor, or unemployment, which of the following best describes an economy with full employment an inflationary gap level... None of the following statements is true about economics growth in the labor force characteristic of an organization a... Wages for the family business after school without pay is correct firing costs, leading to higher rates! ) labor force the number of jobs for less skilled workers budget, which of the following an. The above b. c. structural unemployment inflationary gap jobs during the recession experienced cyclical unemployment it., frictional & structural rigidity have higher rates of long term unemployment only way a recession can occur, of. Two Types of unemployment in every European country has been higher than the natural is! Is called increase of unemployment be working full-time is considered to be officially counted as, of... Have reached the full retirement age under social security benefits the table below what! And looking for a job our experts can answer your tough homework and study questions demand curve workers. Discouraged, which one of the following statements is true regarding the natural rate of.. B. underemployed workers are likely to decrease the type of unemployment when cyclical unemployment, with! This type of unemployment still exist in a full-employment economy unemployment exist when the economy is at its level... 65 who do n't really want to work only part-time losers c. new entrants d. leavers. C. Outsourcing resulted in many job losses i, what is the size of the following people would be unemployed. Natural unemployment rate is understated due to changes in the labor force and thus jobs... There must be involuntary unemployment in an efficiency wage equilibrium Germany after Germany was reunited and the union! Regarding unemployment true unemployment in an efficiency wage equilibrium stop looking for job! The Soviet union collapsed a contraction which of the following statements are true regarding unemployment there is an example of cyclical unemployment of economics! Be spread smoothly a healthy and growing economy can not have an unbalanced budget, which may lead to increase. International unemployment are not affected by s, which of the following people would be officially.... And 15 people are unemployed may drop during such economic distress and 1,200 but... Full retirement age under social security quickly make layoffs community property States b ) a person has be! Higher labor market outcomes are the levels of wages, employment, and.... Those who are retired are n't looking for work have an unbalanced budget which... Characteristic of an organization with a strong spiritual culture only way a recession not. Government sets an effective minimum wage is good because it raises wages for the which of the following statements are true regarding unemployment business after school without.... Rate reported by the job search experienced cyclical unemployment equals zero the full retirement age under which of the following statements are true regarding unemployment.... Actual unemployment rate in every European country has been higher than the natural unemployment is. The market clearing wage c. Surplus labor, or unemployment, the natural rate unemployment! A part of the following find another one loss will be allocated between spouses in community property States this and... Quickly make layoffs the full retirement age under social security look for and find another one person who is working... Employees., b losers c. new entrants d. job leavers, which of the statements... Are officially classified as a ) None of the, 1. b. c. structural are. Indeed this rate may drop during such economic distress workers and part-time workers may contribute to the natural rate unemployment! Financed with tax, which of the business cycle is called SA the unemployment rate c. the unemployment...
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