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MACROECONOMICS 2013 HOME WORK # 8 SPRING 2013

Question # 00034288
Subject: Economics
Due on: 12/02/2014
Posted On: 12/01/2014 11:35 PM

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1.

The labor force consists of all
a. the people in the economy who are not retired
b. people in the economy over 16 years of age
c. the adults in the economy between 18 and 65 years old who are able to work
d. the noninstitutionalized population over 16 in the economy who hold jobs or are
looking for them
e. the citizens in the economy who are graduates of high school

2.

Which of the following people would be counted in the labor force?
a. Chou, who lost his job and last looked for work three months ago
b. Stephanie, who holds a Ph.D. in history, but can only find part-time employment at
a fast-food restaurant
c. Jordan, who would like to work as a stockbroker but is now a househusband
d. Stefan, who thinks he could easily earn $100,000 per year, despite the opinion of
the psychiatrist at the state hospital where he is a patient
e. Monique, age 90, who is enjoying her retirement in Montana

3.

With a total population of 1,000, in the country of Fictivia: 250 people are working, 150 are
retired, 45 people are not working but they are actively looking for a job, 101 are children too
young to work, 20 people dropped out of the labor force because they won the lottery. How
many people are considered unemployed?
a. 20
b. 45
c. 150
d. 250
e. 295

4.

People who are not currently employed, but say they want a job, are counted as unemployed
only if they
a. have previously held a job
b. are actively seeking employment
c. are willing to accept a reasonable offer
d. are between 16 and 65 years of age
e. are willing to accept any offer of employment

5.

A discouraged worker is one who
a. is under qualified for his current job
b. dislikes his current job but is afraid to quit
c. drops out of the labor force because he cannot find a job
d. quits his job because the possibility of advancement was very low
e. is overqualified for his current job

6.

Suppose the official unemployment rate is 10 percent. We can conclude without question that
a. the same 10 percent of the people in the economy were out of work for the entire

7.

year
b. one of every ten people in the labor force is currently unemployed
c. the same 10 percent of the people in the labor force were out of work for the entire
year
d. every person in the labor force was out of work for 10 percent of the year
e. 10 percent of the people in the economy were each out of work for 10 percent of
the year
The labor force participation rate for women in the United States has
a. stayed the same over the last 30 years
b. increased significantly since the 1950s
c. been influenced by decreasing real wages since 1960
d. fluctuated substantially both upward and downward since the 1950s
e. increased only very slightly since the 1950s

8.

The labor force participation rate is the number of people
a. employed divided by the adult population
b. employed divided by the number of people in the labor force
c. in the labor force divided by the adult population
d. unemployed divided by the number of people in the labor force
e. in the labor force divided by the number of people employed

9.

Different demographic groups
a. have identical durations of unemployment
b. have identical unemployment rates
c. are weighted equally in the official unemployment rate
d. have different unemployment rates
e. are weighted more heavily in the official unemployment rate if they have larger
unemployment rates

10.

Juanita earned a B.S. in engineering and went to work for a defense contractor. When the
government cut spending, Juanita and 99 others were laid off. The only other business in the
town is growing grapes, but the growers refuse to hire laid-off engineers, knowing they will
leave at the first opportunity. The unemployment Juanita is experiencing is
a. Cyclical
b. Structural
c. Seasonal
d. Frictional
e. Voluntary

11.

Frictional unemployment refers to unemployment that results from
a. a mismatch of skills
b. being in the wrong geographical location
c. taking the time to find the best job
d. seasonal decreases in demand for labor
e. a recession in the economy

12.

Seasonal unemployment refers to unemployment that results from
a. a mismatch of skills
b. being in the wrong geographical location
c. taking the time to find the best job

d. seasonal decreases in demand for labor
e. a recession in the economy
13.

Structural unemployment refers to unemployment that results from
a. inefficiencies in the market for labor that prolong the job search
b. being in the wrong geographical location
c. taking the time to find the best job
d. seasonal decreases in demand for labor
e. a recession in the economy

14.

Cyclical unemployment results from
a. a mismatch of skills
b. being in the wrong geographical location
c. taking the time to find the best job
d. seasonal decreases in demand for labor
e. a recession in the economy

15.

Which of the following types of unemployment is the hardest to reduce?
a. Cyclical
b. Structural
c. Voluntary
d. involuntary
e. speculative

16.

Which type of unemployment is likely to increase the most in a recession?
a. frictional unemployment
b. seasonal unemployment
c. structural unemployment
d. cyclical unemployment
e. employment

17.

Full employment
a. exists when everyone in the economy has a job
b. exists when everyone who wants a job has one
c. exists when the unemployment rate is zero
d. exists when everyone in the labor force has a job
e. will always include some unemployment

18.

Which of the following is not consistent with full employment?
a. an unemployment rate of 5 percent or 6 percent
b. seasonal unemployment
c. structural unemployment
d. cyclical unemployment
e. frictional unemployment

19.

One consequence of an increase in the unemployment benefits is a reduced incentive to find a
job.
a. True
b. False

20.

Because of the way discouraged workers and part-time employment are measured, the
official unemployment rate
a. overstates the unemployment problem
b. understates the unemployment problem
c. truly reflects the level of unemployment
d. overstates the size of the labor force
e. understates the size of the labor force

Tags 0 spring work home macroeconomics unemployment labor people force economy work percent rate seasonal jobd divided exists results locationc geographical froma wrong time taking best receion number demand labore decreases unemploymentd jobb skillsb employed mismatch

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Preview: over xx years xx agec the xxxxxx in the xxxxxxx between xx xxx 65 xxxxx old who xxx able to xxxxx the xxxxxxxxxxxxxxxxxxxx xxxxxxxxxx over xx in the xxxxxxx who hold xxxx or xxx xxxxxxx for xxxxx the citizens xx the economy xxx are xxxxxxxxx xx high xxxxxxx Which of xxx following people xxxxx be xxxxxxx xx the xxxxx force?a Chou, xxx lost his xxx and xxxx xxxxxx for xxxx three months xxxx Stephanie, who xxxxx a xx x in xxxxxxxx but can xxxx find part-time xxxxxxxxxx at x xxxxxxxxx restaurantc xxxxxxx who would xxxx to work xx a xxxxxxxxxxx xxx is xxx a househusbandd xxxxxxx who thinks xx could xxxxxx xxxx $100,000 xxx year, despite xxx opinion of xxx psychiatrist xx xxx state xxxxxxxx where he xx a patiente xxxxxxxx age xxx xxx is xxxxxxxx her retirement xx Montana3 With x total xxxxxxxxxx xx 1,000, xx the country xx Fictivia: 250 xxxxxx are xxxxxxxx xxx are xxxxxxxx 45 people xxx not working xxx they xxx xxxxxxxx looking xxx a job, xxx are children xxx young xx xxxxx 20 xxxxxx dropped.....
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