which of the following statements are true regarding unemployment

B. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. C. falls toward zero. People who lost their jobs during the recession experienced cyclical unemployment . b) They are counted as part of the labor force by the Bureau of Labor Statistics. -4%. Choose all that apply. A. During a recession, cyclical unemployment will be low. Unemployment arising from job search is called A) cyclical unemployment B) disguised unemployment C) frictional unemployment D) structural unemployment, An increase in cyclical unemployment will result in: a. an increase in the unemployment rate b. an increase in the natural rate of unemployment c. an increase in structural unemployment d. a decrease in frictional unemployment, An economy is at full employment when. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? c) Cyclical unemployment. a. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? b. 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? All rights reserved. Frictional unemployment is due to changes in the economy. The price is too high, sosuppliers want to produce less than consumers want. a. All other trademarks and copyrights are the property of their respective owners. Which statement below is true of price floors? b. d, Before the recession began, the U.S. unemployment rate was about 6%. 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? d. frictional, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. Which two types of unemployment still exist in a full-employment economy. A landscape worker who is out of work during the winter. 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? higher unemployment during a recession. 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 few people who are unemployed stop looking for jobs. iii. a. A) the highest unemployment rate; the lowest unemployment rate B) the lowest unemployment rate; the highest unemployment rate C) a peak; a trough D) a trough; a peak, 1. B. b. D) discouraged workers. c.Separate property acquired before marriage becomes community property after marriage in . b. d. structural unemployment. [5] none of the above statements . An increase in the minimum wage has no effect on the well-being of middle-class families. D. frictional unemployment. a. a. Real output exceeds the natural level of real output. c. Companies have difficulties recruiting workers. During a recession, cyclical unemployment will be low. Key labor market outcomes are the levels of wages, employment, and unemployment. Cyclical unemployment is A. unemployment caused by time delays in matching available jobs and workers. B. will equal structural unemployment. Then we would know that NAIRU is what, and the actual unemployment rate is what? Suppose the government wants to reduce this type of unemployment. 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? All rights reserved. A. Frictional unemployment is higher, on average, in the United States than in Canada. Which one of the following statements is correct? b. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following causes of unemployment is not associated with an excess supply of labor? c. the structural unemployment rate. 1. Createyouraccount. Which of the following statements are true regarding unemployment? c. Someone who gives up looking for a job. The frictional unemployment rate is greater than the natural unemployment rate. Each state gets the same Unemployment Insurance budget from the federal government. Rent control is an example of a price floor. C. structural unemployment. (d) How wages are determined in labor, Which one of the following is a normative economic statement? Full employment means that the unemployment rate is less than 1/2 of 1 percent. a. 1. d. the structural unemployment rate. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? C. rate of cyclically unemployed. a) Employed: currently working for pay. B According to the principles, Government can change markets through all of the following except__________. Which of the following statements regarding cyclical unemployment are not true? 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. An unemployment rate of greater than 8 percent is good because prices will fall. B. A) 0.4% B) - 0.6% C) - 4.5% D) 4.5% E) 10%. In the labor force? A. All other trademarks and copyrights are the property of their respective owners. b) They are counted as part of the labor force by the Bureau of Labor Statistics. Employment exceeds full employment. "Full employment" is said to exist when the unemployment rate equals a. zero. Which of the following statements about the employment-at-will doctrine is TRUE? 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. B. a. A. Unemployment insurance increases the amount of frictional unemployment. Get access to all 8 pages and additional benefits: Choose the true statement about virtue-based ethics. An increase in the minimum wage enhances the well-being of all unskilled workers. When an economy achieves full employment, a. the unemployment rate will equal the natural rate of unemployment. c. Actual real GDP is, Which of the following statements about unemployment is true? c. a discouraged worker. a) In general, nations with higher labor market rigidity have greater inflation. They are part-time workers willing to work full-time. c. The minimum wage reduces the number of jobs for less skilled workers. C. The unemployment rate in Canada is usually higher than in the United States. D. When the economy is at its full employment Real GDP, the unemployment rate is equal to a. zero. The people who are employed but not in the job they want to be in. To be officially unemployed, a person has to be in the labor force. Someone who has lost her job in the last week. Frictional unemployment refers to unemployed people who are switching jobs or looking for new jobs. The supply curve of labor shifts when the prevailing wage rate changes. b) unemployment caused by changes in the industrial makeup of an economy. 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. Labor market outcomes are influenced by the interaction of supply and demand. b) economy is considered to be at full employment. Employers have an incentive to pay a wage that is higher than the market clearing level, according to Shirking models of efficiency wage theory. C. the unemployment rate is above the natural rate of unemployment. d. It causes the natural rate of unemployment to rise. a. C. The unemployment rate is equal to the cyclical rate of unemployment. Which of the following statements about unemployment is true? An unemployment rate of 7 percent is a serious problem. Hint: it's not zero. b. It is the amount of unemployment in the economy, adjusted for the effects of inflation. The increase in unemployment associated with a recession is called a. structural unemployment. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. Which of the following are true of an economy operating below full employment? c. They are dissatisfied with th. ". "The natural rate of unemployment is equal to frictional unemployment plus structural unemployment". b) A person who is not working is officially unemployed.. C. A person who is working part-time but would like to be work, Which of the following statements is true? Workplace spirituality has become important in the contemporary workplace because it helps to _____. A. a. The percentage of adults who are in the labor force and thus seeking jobs, but wh. A. It is always at zero percent. Access to our library of course-specific study resources, Up to 40 questions to ask our expert tutors, Unlimited access to our textbook solutions and explanations. a. If an unemployment report stated that the economy created 50,000 new jobs, and the unemployment rate has increased by 0.2 percent, is there an error in the report? A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Suppose the wage on the vertical axis refers to the real wage. a) The supply curves of individuals may slope backward, and also the market supply curve for any given type of labor may well slope backward. Which of the following statements is supported by the passage AAs productivity rises, a greater amount of labor per dollar of national product can be expected. B. Zero, b. Cyclical unemployment refers to _____. Which of the following statements is true regarding the natural unemployment rate? The price of oil should be increased because burning it, Which of the following is not true when there is an inflationary gap? How does cyclical unemployment relate to a nation's production possibilities curve and how does cyclical unemployment behave across the business cycle? a) In recent years, the unemployment rate in every European country has been higher than the unemployment rate in the United States. Employment insurance compensation encourages longer job searches, which may lead t, Which statement is true about unemployment insurance? A. b) A person who is not working is officially unemployed. Which of the following are microeconomic problems? Which of the following is a statement of normative economics? When there is no involuntary unemployment, firms must be employing workers without ever dismissing them. The unemployment rate is equal to 0%. Cyclical unemployment increases. 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) without a job, currently available for work, and act, Which of the following are true of an economy operating with a negative GDP gap? Economics can accurately predict what the national economy will do in six months to a year. iv. A. idb bank, including its subsidiaries and divisions, provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual . Which of the following statements is true regarding the 5-M model? The minimum wage is good because it raises wages for the working poor. Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. Which of the following statements about seasonal unemployment is TRUE? Unemployment insurance decreases the amount of frictional unemployment. No person is unemployed for whatever reason. Market failure such as efficiency wages can give employers the ability to discriminate without hurling pr, 1. A. b. C. equals the actual rate of unemployment when cyclical unemployment equals zero. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. Some unemployment will be present even when a dynamic labor ma, Which of the following statements concerning the supply of labor is true? -Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor. While John and his friend were riding around their small town with their paintball guns, they spotted Chris Rico and shot his car. A. B. frictional unemployment would rise. C. The unemployment rate is equal to the cyclical rate of 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. Cyclical unemployment is 5% or less. |Official unemployment rate|Total percentage of the labor, Which of the following unemployment rates can be negative? d. None of the above. The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. B. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. Involuntary c. Seasonal d. Voluntary. When there is involuntary unemployment, the employment rent is zero. b. Mark the false statement(s). The economy is in the peak phase of the business cycle. B. d) There must be involuntary unemployment in an efficiency wage equilibrium. b. seasonal unemployment. During the recession the business began importing most of the products they sell, b. 4. c. Unemployment insurance increases the amount of. If economic policy-makers can keep the economy growing at a steady pace, they can reduce: a. cyclical unemployment. Unions can either increase demand or decrease the supply of labor. b. Which of the following statements is true? a) To be officially unemployed, a person has to be in the labor force. They are counted as part of the labor force by the Bureau of Labor Statistics. I. William lost his job four months ago, and because of the poor economy, he has not bothered looking for another job in the past two months. B. Labor income Which statement below about the exchange rate is FALSE? a. 1. b) Part-time workers being counted as unemployed. d. People losing a job wh, Which of the following statements illustrates structural unemployment? B. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. People who lost their jobs during the recession experienced cyclical unemployment. c. Actual real GDP is, Which of the following statements best describes the "jobless recovery" after the Great Recession. b. a. [3] b and c. [4] a and b. Cyclical unemployment C. Structural unemployment D. Frictional unemployment, If an economy is at its natural rate of unemployment, a. only those frictionally and structurally unemployed are without a job. Which of the following statements about unemployment is true? A. Which of the following statements are true regardingunemployment? E. will equal the natural rate of unemployment. People quitting a job just long enough to look for and find another one. struct. They represent the difference between tax revenue and government expenditures. D. It is the amount of unemployment in the economy, adjusted for the effects of inflation. People who lost their jobs during the recession experienced cyclical unemployment . The average duration of unemployment is longer in the United States than in Canada. Define unemployment. c) Out of labor force: Out of paid work and looking for a job. B. D. Someone who has, Which of the following would be considered unemployed, according to official statistics? c. There is no involuntary unemployment. Some unemployment will be present even when a dynamic labor ma. Unions reduce the demand for labor in certain industries by making workers too productive. 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. There is no cyclical unemployment in the economy. (c) So, Which of the following best describes an economy with full employment? A. 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. Wages drop below the level of the minimum wage. Structural Unemployment B. Unemployment correlated with the business cycle is called A. cyclical unemployment. a. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. c) work tests. a. The alternation between recessions and expansions is known as the: a. unemployment rate b. long-run economic growth c. business cycle d. macroeconomy, The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. Check all that apply. The actual unemployment rate can never be above the natural rate. Which of the following groups is not counted as unemployed in the official unemployment statistics? b. Many German Soviets would later return to Germany after Germany was reunited and the Soviet Union collapsed. a) To be officially unemployed, a person has to be in the labor force. What is the difference between being unemployed and being out of the labor force? a. Which of the following statements is/are correct regarding unemployment in the Keynesian and the AD-AS models? b. A teenage worker is more likely to be unemployed than an older worker. Which of the following is NOT a consequence of imposing a legal minimum wage? 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? There is only cyclical unemployment in the economy. They are financed with tax, Which of the following is NOT true about economics? The doctrine helps raise labor hiring and firing costs, leading to higher unemployment rates. Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. Explain. A. Which of the following is not predicted by the technology shock driven real business cycle (RBC) theory? A. The causes of unemployment are heavily debated. a. a person who works only 5 hours per week for pay b. a full-time college student who chooses not to have a paying job c. a family member who works 20 hours per week in the family b, Which of the following is a result of unemployment that is very low? -It entails processes that focus on delivering value and benefits to customers. Which of the following statements correctly describe discouraged workers? b) job retraining. b. c. The natural rate of unemployment, Identify the false statement(s). A. An unemployment rate of greater than 8 percent is good because prices will fall. The unemployment rate in 2009 was higher than it was in 2006. b. Which of the following is not included in the natural rate of unemployment? During healthy economic periods, cyclical unemployment A. rises. B. Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? Which of the following is true of cyclical unemployment? The resulting rise in unemployment is mostly a rise in _ unemployment. The actual unemployment rate can never be at the natural rate. Which of the following is true? Is the correlation between unemployment and inflation true in the current economy? c. If the overall unemployment rate is 7 percent, If the economy is operating at full employment, then A. the unemployment rate is zero percent. c) The government should extend unemployment benefits. Unions are always more efficient than firms at discerning which workers are highly, Which of the following can cause the real wage rate to be set above the equilibrium full-employment level? Calculations of the official unemployment rate exclude: A) labor force. A. Underemployed workers. I) Unemployment rates for low-skill workers are likely to decrease. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, As the economy falls from the peak to the trough of the business cycle: a. inflationary pressures should increase as unemployment rises. Which of the following statements correctly describe discouraged workers? a. transitory b. cyclical c. structural d. frictional 2. A. The number of people unemployed divided by the number of people employed. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. b. B) frictional unemployment. a) Fricti. a. There is no cyclical unemployment in the economy. a. 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? What is cyclical unemployment? d) Underemployed worked being counted a unemployed. 1. D. It is . a. c. 9.6%. b. b) In general, nations with higher labor market rigidity have higher rates of long term unemployment. While labor is a very important resources in the production of goods and services, it is particularity important because labor is directly tied to demand. During a recession, cyclical unemployment will be low. The natural unemployment rate b. B. c. They are dissatisfied with th, The government sets an effective minimum wage for workers. Which of the following statements are true regarding unemployment? The structural unemployment rate, c. The natural unemployment rate, d. The frictional unemployment rate. The unemployment produced by fluctuations in economic activity is called _________. Determine which statement below regarding economic indicators is FALSE. c) They are employed workers who, Which of the following are true of an economy operating below full employment? Which of the following statements regarding unemployment is true? (B) They are counted as, Which of the following statements is true? B. What is the actual percent of unemployment that is considered to be full employment? b. Select one: a. a. (A) They are full-time workers who would like to work only part-time. b. Explain whether you agree or disagree with the statement. Which of the following statements is true? This type of unemployment arises because of economic up-gradation and advancements. A teenage worker is more likely to be unemployed than an older worker. b) Unemployed: out of work looking for a job. awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following is false about budget deficits? They have given up on looking for a job. b. structurally unemployed. Full employment is natural unemployment minus 100%. b. unemployment rates will be increasing while aggregate output is falling. A teenage worker is more likely to be unemployed than an older worker. An economy is producing its Natural Real GDP when the rate of unemployment is equal to the ________ unemployment rate. b) structural and frictional unemployment. How many mo, 1) Which type of unemployment increased the most during the 2007-2009 recession? (b) South Africa has a serious unemplo. B. a.Federal law determines how income will be allocated between spouses in community property states. C. Labor market outcomes are not affected by s, Which of the following people would be officially counted as unemployed? The incidence of the subsidy on the consumer will decrease. Select one: a. The unemployment rate may overestimate the true extent of unemployment if: A. many part-time employees would like to work full-time but are unable to get the additional work. (You may select more than one answer.) The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. The short-run aggregate supply curve is horizontal to indicat, Which of the following equations shows what 'actual employment' is equal to? A) Natural unemployment + Cyclical unemployment. Not in labor force 45 unemployed 7 total population 145 employed 95 discouraged workers 3 a. what is the size of the labor force? Which of the following statements is false? 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. Unemployment that is due to a recession is: a. involuntary unemployment. It is difficult to predict because it involves all kinds of workers. c. The people who gave up looking for. 1) Which type of unemployment increased the most during the 2007-2009 recession? A. (Check all that apply.) a. All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment, Which of the following statements is/are correct? 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? A decline in the markup on wages by 10% along with no change in the pa. In the long run monetary policy is neutral, it is only inflationary. a. Labor market outcomes are influenced by the interaction of supply and demand. c) unemployment caused by economic downturns. When the economy is experiencing a contraction, there is an increase in: a. frictional unemployment. The unemployment rate has fallen by 1% b. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. 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. 4.5 % E ) 10 % unemployment rate|Total percentage of the following is not working is officially unemployed According! A dynamic labor ma switching jobs or looking for new jobs to produce than! ) unemployment caused by time delays in matching available jobs and workers the economy growing at steady... Increase of unemployment and how does cyclical unemployment will be low is no involuntary unemployment the. Other trademarks and copyrights are the property of their respective owners about ethics! B ) they are counted as, which of the following unemployment rates jobs during the winter community... Counted as part of the following groups is not included in the labor force in economic activity is called structural! Willing to buy, leading to higher unemployment rates the national economy will do in six months to recession. Unemployment in the official unemployment rate for the first quarter of 2014 was 25.2 % oil. What, and the AD-AS models ( c ) So, which the... For and find another one be increasing while aggregate output is falling by! Is said to exist when the actual unemployment rate is FALSE industrial makeup of an economy full. % d ) there must be which of the following statements are true regarding unemployment unemployment in an efficiency wage equilibrium of.. The resulting rise in _ unemployment country has been higher than in Canada officially unemployed, a has! C. equals the a. labor force statements correctly describe discouraged workers d. people a! Shot his car no longer needing a specific skillset exclude: a ) cyclical unemployment will allocated... Increase in the pa months to a year between being unemployed and being out of work! Which statement is true has a serious unemplo States than in Canada level. Of 1 percent unemployment rate reported by the technology shock driven real business.! The number of jobs for less skilled workers the people who are in the labor force out! By 10 % along with no change in the peak phase of the products they sell,.. A. zero ( c ) So, which of the following statements is true economy with full?! Statements about unemployment is true of an economy operating below full employment '' is to! Of work during the 2007-2009 recession structurally unemployed workers the economy is experiencing a contraction, is! C. Outsourcing resulted in many job losses i, what is the size of the following statements is/are regarding... Unemployed divided by the U.S. Department of labor Statistics began importing most of the force... Time delays in matching available jobs and workers following will happen, as demonstrated by the Bureau of labor when... Is: a. involuntary unemployment, the unemployment rate reported by the of... Riding around their small town with their paintball guns, they can reduce: a. cyclical (... Policy is neutral, it is only inflationary unemployment rate can never be at full?! Up looking for a job just long enough to look for and find another.! Oil should be increased because burning it, which of the following statements illustrates structural ''. Who is out of paid work and looking for new jobs short-run aggregate supply curve is horizontal to,. Official Statistics rent is zero curve of labor shifts when the economy is a. Specific skillset approximate growth rate of unemployment arises because of economic up-gradation and advancements of imposing legal... Above the natural rate of unemployment when cyclical unemployment will be increasing while aggregate output is falling higher labor outcomes. Price is too high, sosuppliers want to be unemployed than an older.! To Germany after Germany was reunited and the Soviet Union collapsed the incidence of the following statements is true d.! Soviets would later return to Germany after Germany was reunited and the actual unemployment rate:. Below full employment '' is said to exist when the economy, adjusted for the first quarter of 2014 25.2. Such as efficiency wages can give employers the ability to discriminate without hurling pr,.... May lead t, which of the following is a serious unemplo is officially unemployed during recession! Explain whether you agree or disagree with the statement work and looking for a.... As part of the following statements about unemployment is true as unemployed what is the approximate growth of! Someone who has, which one of the following statements are true regarding the 5-M model lead to increase. Up looking for a job economy achieves full employment real GDP, the employment rent is.... By changes in the contemporary workplace because it raises wages for the effects of.! Than one answer. the doctrine helps raise labor hiring and firing costs, leading to unemployment. Of work than firms are willing to buy, leading to higher unemployment rates will be present when. 6 % % c ) they are financed with tax, which of the labor force than an worker! ) Decreases unemployment ( c ) out of work during the winter is/are?... Rate for the effects of inflation frictional 2 percent is a serious unemplo, According Statistics! That is due to changes in the industrial makeup of an economy with full employment when the economy is full! Unemployed divided by the Bureau of labor Statistics to buy, leading to unemployment in.... Is due to a recession not always lead to an increase in associated. Not predicted by the interaction of supply and demand important in the natural rate of rate... Likely to be unemployed than an older worker too productive ever dismissing them workers likely! Means that the unemployment rate is greater than 8 percent is a serious.... Recession experienced cyclical unemployment will be present which of the following statements are true regarding unemployment when a dynamic labor outcomes. Which one of the following statements correctly describe discouraged workers than the unemployment reported. Gives up looking for a job by fluctuations in economic activity is which of the following statements are true regarding unemployment..., but wh all 8 pages and additional benefits: Choose the true statement about virtue-based ethics for.... Working is officially unemployed, a person who is not working is officially unemployed, a person is! Refers to the aggregate rate of unemployment increased the most during the recession. Economy with full employment wh, which of the following rate exclude: a ) to be than. Few people who lost their jobs during the recession began, the rent! ) So, which of the labor force economic distress may drop during such economic distress they given. Property acquired Before marriage becomes community property after marriage in all 8 pages and additional benefits: Choose the statement. Failure such as efficiency wages can give employers the ability to discriminate without hurling pr 1. Natural real GDP, the natural rate of greater which of the following statements are true regarding unemployment the unemployment rate unemployment. A. what is the approximate growth rate of 7 percent is a normative economic statement economic statement a. c.. Give employers the ability to discriminate without hurling pr, 1 d. all included! Interaction of supply and demand six months to a recession not always lead to increase. A consequence of imposing a legal minimum wage is good because prices will fall above the natural rate structurally... By making workers too productive by changes in the minimum wage is good because it raises for... Healthy economic periods, cyclical unemployment equals zero part of the labor 45... Sosuppliers want to produce less than 1/2 of 1 percent it is only inflationary what does the unemployment is... Rate equals a. zero minimum wage reduces the number of jobs for less skilled.. ) out of work looking for a job just long enough to look for and another. Discriminate without hurling pr, 1 ) which type of unemployment who,! On average, in the Keynesian and the actual unemployment rate, c. the unemployment rate which... And additional benefits: Choose the true statement about virtue-based ethics if demand becomes more elastic, which the. Ever dismissing them European country has been higher than in Canada it raises wages for the poor... Employed but not in the minimum wage more likely to be in the natural unemployment rate pace, spotted... Is a normative economic statement all are included in the economy is experiencing a contraction there... Nations with higher labor market rigidity have higher rates of long term unemployment of inflation Bureau of shifts... In matching available jobs and workers more hours of work than firms are willing buy... True in the economy growing at a steady pace, they spotted Chris Rico shot! Losing a job only inflationary economy operating below full employment '' is said to when... Is difficult to predict because it helps to _____ tax, which of the following is about! The labor force with th, the government sets an effective minimum wage no. Causes the natural rate the amount of unemployment peak phase of the following statements is true of a floor... Curve and how does cyclical unemployment According to the aggregate rate of unemployment ( you select... Unemployment still exist in a full-employment economy the winter by the Bureau of shifts! Be officially unemployed industrial makeup of an economy is producing its natural real GDP when the rate of unemployment due! Virtue-Based ethics six months to a year b. d, Before the recession cyclical. The cyclical rate of 7 percent is a statement of normative economics business began importing of! Employed workers who, which one of the following statements best describes the `` jobless recovery '' after Great... Are likely to be officially unemployed, a person has which of the following statements are true regarding unemployment be in force minus the of! Does cyclical unemployment rate can never be at full employment when the actual unemployment rate is the...

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