13 mcq Frictional unemployment is: unemployment that is due to the friction of competing ideological systems. unemployment caused by lack of training and education. unemployment caused by automation in the workplace. unemployment that is due to normal turnover in the labor market.
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Q13 mcq
Frictional
- unemployment that is due to the friction of competing ideological systems.
- unemployment caused by lack of training and education.
- unemployment caused by automation in the workplace.
- unemployment that is due to normal turnover in the labor market.
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- Frictional unemployment is: unemployment that is due to the friction of competing ideological systems. unemployment caused by automation in the workplace. unemployment that occurs as workers move between jobs. unemployment caused by lack of training and education.A country has a labor force of 1,000,000 and 50,000 of discouraged workers. The unemployment rate is 10%. If the number of discouraged workers increases to 100,000, then the new unemployment rate isDistinguish unemployment from the natural rate of unemployment.
- The unemployment rate statistic published by the Bureau of Labor Statistics may underestimate the magnitude of the unemployment problem in the economy because a) all part-time workers are counted as "employed" even though some would prefer to work full-time (i.e. are underemployed). b) some workers are working in jobs for which they are overqualified (also underemployed). c) "discouraged workers," who are no longer looking for work, are not counted in the labor force. d) all of the above.Mark graduated from college as an accountant. He currently works at Starbucks. Which of the following statements is true? Question 40 options: a) Mark is underemployed and counted as unemployed b) Mark is a discouraged worker and counted as employed c) Mark is underemployed and counted as employed d) Mark is a discouraged worker and counted as employedIf unemployment is above the natural rate of unemployment, then potential GDP is: A) Equal to actual GDP B) Greater than actual GDP C) Equal to the GDP gap D) Less than actual GDP
- By offering more generous unemployment insurance programs, European countries can expect to pay less in taxes than in the United States. workers to gain new skills quickly in response to fluctuations in the labor market. shorter periods of unemployment for their workers. longer periods of unemployment for their workers.Full employment relates to the number of people willing to work. True or falseIndividuals who want to work, but have given up searching for a job because of limited prospects, are known as discouraged workers. marginally attached workers. frictionally unemployed. This group, consisting of individuals who would like to work but have not looked for work during the past four weeks, is included among the structurally unemployed. marginally attached workers. discouraged workers. minimally attractive workers. Individuals who are involuntarily working part‑time are considered underemployed. structurally unemployed. marginally employed. frictionally unemployed. By excluding the groups identified in the previous questions, the U.S. Bureau of Labor Statistics calculation methods accurately reflect the true level of unemployment. overstate the true level of unemployment. understate the true level of unemployment.
- Considering the wage-setting relation, which one of the following will definitely result in a decrease in the natural rate of unemployment? (a) An increase in the mark-up of firms; (b) A decrease in the unemployment rate; (c) An increase in the expected price level; (d) A reduction in the labour laws protecting workers.Suppose the population of a fictional economy falls into the following categories: 28 million are retired or homemakers; 30 million have full-time employment; 24 million have one part-time job; 28 million have two part-time jobs; 12 million do not have employment, but are actively looking for employment; and 20 million would like employment but do not have employment and are not actively looking for employment. 5 million are under the age of 10. a. Calculate the official unemployment rate (as a percentage, not decimals) as calculated by the U.S. Bureau of Labor Statistics. Round your answer to two decimal places.The following table contains U.S. employment information from February 2010. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 236,998,000 138,698,000 14,860,000 1,204,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which takes into account discouraged workers and is calculated as follows: U-4U-4 = = 100×Unemployed+DiscouragedLabor Force + Discouraged100×Unemployed+DiscouragedLabor Force + Discouraged Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate U-4 Measure of Labor Underutilization (Percent) (Percent) The official unemployment rate and the U-4 measure of labor underutilization are two different measures of…
