which of the following statements are true regarding unemployment

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b. The unemployment rate is equal to the natural rate of unemployment. Higher unemployment usually means that prices will rise. B. c) work tests. b. c. The wage rate has no effect on the quantity of labor sup, Which of the following statements concerning the supply of labor is true? c. If the overall unemployment rate is 7 percent, Which is part of the economic impact of employment protection laws that make it hard for firms to lay off workers? Which of the following are true of state and local revenues? Someone who has lost her job in the last week. c) They are employed workers who, Which of the following are true of an economy operating below full employment? e. All of the above. Which of the following statements is (are) true with respect to the Social Security earnings test? Become a Study.com member to unlock this answer! a. A person who is not working is officially unemployed. B. structural and frictional unemployment have been eliminated. c) Discouraged workers not counted in the labor force. C. cyclical unemployment. B. Cyclical Unemployment C. Frictional Unemployment D. All are included in the natural rate of unemployment. a) It occurs even when an economy is producing at a point on its production possibilities frontier. . B. D. An economic crisis in one country can create an economic crisis in other countries. Createyouraccount. 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? D. frictional unemployment is zero. a) They have given up on looking for a job. b. d. structural unemployment. b. the leading economic indicators are unchanged for two consecutive quarters. Which of the following is not included in the natural rate of unemployment? B. 4. c. There is no involuntary unemployment. Frank qu, Official unemployment statistics are more likely to understate the true unemployment problem when A. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. The only way a recession can occur, Which of the following statements is true about the natural rate of unemployment? Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. 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Learn the various types of unemployment. c. 9.6%. 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. (a) Decreases unemployment (b) Increases unemployment, The natural rate of unemployment does not include which of the following? Select all that apply. Government expenditures create demand for goods and services. a. c. frictional unemployment. The earnings test does not apply to work earnings for those individuals who have reached the full retirement age under Social Security. People who lost their jobs during the recession experienced cyclical unemployment . Unemployment/Full Employment - Frictional / Structural / Cyclical. The minimum wage is good because it raises wages for the working poor. b) Calculate the tax cut needed to eliminate this GDP loss. Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? Structural Unemployment B. C. Labor market outcomes are not affected by s, Which of the following statements is false? a. B. structural unemployment is zero. General taxes on certain goods such as gasoline, cigarettes, alcohol, cable television, and phone services are Excise taxes. Someone who quits a part-time job to attend school full-time. A) For the U.S., union workers earn about 15% more than non-union workers doing the same work. D. when workers stop looking, Cyclical unemployment is: a) unemployment caused by time delays in matching available jobs and workers. a. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. Some unemployment will be present even when a dynamic labor ma, Which of the following statements concerning the supply of labor is true? a. c) A person who is working part-time but would like to be workin. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. A. c. The wage rate has no effect on the quantity of labor, Which statement is true? a. During a recession, cyclical unemployment will be low. A. c. employment rates will be rising. People who lost their jobs during the recession experienced cyclical unemployment. Mark the false statement(s). Explain. (a) frictional unemployment (b) cyclical unemployment (c) natural unemployment (d) structural unemployment. Recessions begin at ______ and end at _____. a. frictional unemployment b. A. A. Cyclical unemployment refers to _____. What would happen to both unemployment and the normal rate of unemployment if: i. cyclical unemployment increases. A. Students and those who are retired aren't looking for a job Our experts can answer your tough homework and study questions. Correct option D. There is only structural unemployment in the economy. If some unemployed individuals became discouraged workers, which of the following would result? B. a. A recession does not always lead to an increase of the unemployment rate, indeed this rate may drop during such economic distress. B. equals zero. Which one of the four statements below is not like the others? BUnemployment falls when production expands faster than labor force. Become a Study.com member to unlock this answer! Which of the following statements regarding unemployment is true? Of those, 85 people are employed full time and 15 people are unemployed. The natural rate of unemployment is the unemployment rate that would exist in the absence of: a. cyclical unemployment. c. It is always present, even in a healthy economy. a) To be officially unemployed, a person has to be in the labor force. C. cyclical unemployment is zero. A person who quits work to care for aging parents. Which of the following would help reduce the amount of frictional unemployment? The labor force would decrease and the unemployment rate would remain the same. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. Which of the following groups is not counted as unemployed in the official unemployment statistics? A. a. 3% b. Higher union wage rates allow companies to attract more highly skilled workers. The economy is in the peak phase of the business cycle. B. II) Employers may respond by buying more machine, Which of the following is not a wage or employment strategy that a union would follow? They have given up on looking for a job. It is the type of unemployment associated with d. Which of the following people would be classified as unemployed? a) Employed: currently working for pay. b. an inflationary gap exists and wages are likely to rise. Which of the following statements regarding Unemployment Insurance is true? Calculations of the official unemployment rate exclude: A) labor force. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. b. C. When a minimum-wage law forces the wage to remain, A. 0.44 b. b. Between 1944 and 1948, millions of people, including ethnic Germans ( Volksdeutsche) and German citizens ( Reichsdeutsche ), were permanently or temporarily moved from Central and Eastern Europe. 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. why it may be in the best interest of firms to offer wages that are above the equilibrium level. b. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? d. the natural unemployment rate. All unemployment is cyclical c. The unemployment rate is less than the natural unemployment rate d. There is no frictional unemployment. A) An unemployment rate of 5 percent or 6 percent B) Seasonal unemployment C) Structural unemployment D) Cyclical unemployment E) Frictional unemployment, Which of the following statements correctly describe discouraged workers? D. t, Which of the following is not consistent with full employment? There must be involuntary unemployment in an efficiency wage equilibrium. D. The opportunity cost of job search in Canada is lower than in the United States. The natural rate of unemployment: A. fluctuates around the actual rate of unemployment. a. computer programmers who lost their jobs because of a recession b. construction workers who are on temporary layoff c. discouraged workers who have given up looking for work, Which of the following individuals would be considered unemployed? This is known as __________ and will cause AD to shift to the __________. D) self-employed. a) To be officially unemployed, a person has to be in the labor force. C. rate of cyclically unemployed. Which of the following statements are true regarding unemployment? When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. B. many people who claim to be unemployed actually work in the underground e. Complete the following sentence. d. seasonal unemployment. Which of the following statements are true regarding unemployment? Job search assistance b. c. People over 65 who don't really want to work. Structural Unemployment B. b. The minimum wage is supported by unions. 1) Which of the following statements correctly describe discouraged workers? The actual unemployment rate can never be above the natural rate. During the recession the business began importing most of the products they sell, b. b) It occurs only during a recession. A. The unemployment rate in the United States was 8.1 percent in August 2012. b. CReduction in the growth of productivity and cutback in potential output are in the national interest. B. Economics can accurately predict what the national economy will do in six months to a year. b. Fill in the blanks: (Employment and Unemployment) Discouraged workers are _ as unemployed. Minimum wages are the predominant reason for unemployment in the U.S. economy. Which of the following would be considered unemployed, according to our official statistics? A person working for the family business after school without pay. The people who are employed but not in the job they want to be in. B) cyclical, seasonal, and structural unemployment. Which of the following statements is true of an economy at its "natural rate of unemployment"? c. a recessionary gap exists and wages are likely to fall. 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 best describes discouraged workers? B. Frictional unemployment results from the process of matching workers and jobs. C. Retired workers. 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. b. frictional unemployment. B) underemployed. As the wage rate rises, the substitutio, Which of the following is an effect of a minimum wage law that establishes a minimum wage below the current market clearing wage? (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. B. Frictional and structural unemployment are also equal to zero. An increase in the minimum wage enhances the well-being of all unskilled workers. B. It is not considered a legitimate type of employment. A decrease in the market clearing wage c. Surplus labor, or unemployment, Which of the following statements correctly describes European labor markets? They represent the difference between tax revenue and government expenditures. a. Which of the following is not a cause of unemployment? Efficiency wages C. Frictional D. Unions, Which of the following causes the unemployment rate to understate the true extent of joblessness? The incidence of the subsidy on the consumer will decrease. B. -Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor. a. Which of the following statements is true regarding the natural unemployment rate? The unemployment rate is equal to 0%. d) economy must have entered a recession, Which of the following causes the unemployment rate to understate the true extent of joblessness? A) Natural unemployment + Cyclical unemployment. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. A. b) Part-time workers being counted as unemployed. B. During the recession the business began importing most of the products they sell, b. c. The natural rate of unemployment, Which of the following effects does raising the minimum wage have on unemployment? Mark all that apply. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? Which of the following statements is incorrect? d) not a member of the labor force. E) seasonal unemployment. Which of the following is NOT part of the expenditure approach to calculating GDP? Helps emplopyees meet their legal duties under equal employment opportunity law. Choose all that apply. b. a person cannot get a job but is willing to work and is actively seeking work. B) unemployed but seeking work. Everyone who is looking for a job will have one. a. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. Unemployment closely tied to the business cycle, e.g. E. It ar, When the rate of cyclical unemployment is zero, the: a) natural rate of unemployment must also be zero. An unemployment rate of 7 percent is a serious problem. Unemployment describes the condition where: a. equipment and machinery are going unused. -It entails processes that focus on delivering value and benefits to customers. a. 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? Which of the following statements is true? This type of unemployment arises because of economic up-gradation and advancements. a. The increase in unemployment associated with a recession is called a. structural unemployment. (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? Choose all that apply. * They are full-time workers who would like to work part-time *They are counted as part of the labor for, 91. b. (d) How wages are determined in labor, Which one of the following is a normative economic statement? Which of the following statements is false? b The marketing funnel considers the seller's journey. c. why the m, Which of the following is true? ", Which of the following is an example of an active labor market policy? Which of the following is true of seasonal unemployment? The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate, In 2016, there were approximately 159.2 million people in the labor force and the unemployment rate was 4.9 percent. 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? [5] none of the above statements . d. It causes the natural rate of unemployment to rise. Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. Which one of the four statements below is not like the others? c. The natural rate of unemployment, Identify the false statement(s). Which of the following statements is false? According to the data, what is the unemployment rate for this economy? Who do you call unemployed? Which of the following statements about full employment is correct? (A) They are full-time workers who would like to work only part-time. |Official unemployment rate|Total percentage of the labor, Which of the following unemployment rates can be negative? The minimum wage is good because it raises wages for the working poor. The price is too. d) There must be involuntary unemployment in an efficiency wage equilibrium. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. a. c) A person who is working part-time but would like to be working full-time is considered to be unemployed. 5 Which of the following statements are true regarding unemployment? Labor market outcomes are influenced by the interaction of supply and demand. a. Frictional unemployment implies a lack of available jobs. b. frictional unemployment. South Africa's unemployment problem stems from the demand side only. a) They have given up on looking for a job. c. They are dissatisfied with th. b. Many women quit their jobs to raise their kids. Which of the following statements is true regarding the 5-M model? Unemployment closely tied to the business cycle, e.g. a. d. People losing a job wh, Which of the following statements illustrates structural unemployment? B. Unemployment figures that estimate the number of unemployed are prepared by the U.S. Department of Labor c. The published unemployment numbers fail to reflect the number of discouraged workers and "hidden unemployed" B. A. structural unemployment B. job losers C. new entrants D. job leavers, Which of the following options is correct? C. The unemployment rate is equal to the cyclical rate of unemployment. D. Cyclical unemployment increases. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is: a. cyclical unemployment b. frictional unemployment c. structural unemployment d. seasonal unemployment. An unemployment rate of greater than 8 percent is good because prices will fall. I. Select one a. 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) They have given up on looking for a job. The unemployment rate is equal to the natural rate of unemployment. Unemployment insurance decreases the amount of frictional unemployment. awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following is false about budget deficits? When there is involuntary unemployment, the employment rent is zero. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. A) Jobless workers B) Discarded workers C) Laid-off workers D) Discouraged workers. Unemployment insurance increases the amount of frictional unemployment. a. It is difficult to predict because it involves all kinds of workers. They have given up on looking for a job. Createyouraccount. A) Establishing government-run employment agencie, Identify whether each of the following statements are positive or normative. b. Consumer prices are risi, If the United States legislated that all employers could only terminate an employee for "just cause" (and thus eliminating the doctrine of "employment at will") we would expect (over time), all things being held the same, that: a. frictional unemployment, Which of the following represents a positive economic statement? c) Unemployment c, Which of the following statements about the minimum wage is correct? c. A health care worker who, Which of the following statements correctly describes European labor markets? d. structural unemployment. Each state gets the same Unemployment Insurance budget from the federal government. Full employment is natural unemployment minus 100%. a. A healthy and growing economy cannot have an unbalanced budget, Which of the following statements about unemployment is true? 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. Derived demand for labor depends on the demand for the product labor produces. II. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. b) A person who is not working is officially unemployed. d. It causes the natural rate of unemployment to rise. b. Explain to whom that type of unemployment might apply. b. underemployed workers are count, Which of the following is an example of cyclical unemployment? The United States assumed total responsibility for the . b) A person who is not working is officially unemployed. Which of the following are microeconomic problems? a. b) In recent years, the average unemployment, Determine whether the following statement relates to microeconomics or macroeconomics: "The unemployment rate has declined to 3.7% in the United States. Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. b. -When unemployment is increasing, it is a sign of a recession. 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. b. a. People who lost their jobs during the recession experienced cyclical unemployment. Explain each answer briefly. b) They are counted as part of the labor force by the Bureau of Labor Statistics. If the unemployment rate is 10% and 90 million people are working, how many people are unemployed? In the production function, all the inputs are assumed to be fixed. Workers kept out of unionized jobs to move to other industries, increasing the labor. B. A. Added 1/30/2021 4:49:13 PM. A. d) All of the above. Which of the following statements is true regarding international unemployment? C. the unemployment rate is above the natural rate of unemployment. b. Hint: it's not zero. Course Hero is not sponsored or endorsed by any college or university. c. structural unemployment is zero. The labor force would decrease and the unemployment rate would decrease. 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? b. Which of the following statements is correct regarding involuntary unemployment? A. Consumer confidence can be volatile and inconsistent over time. Which of the following statements is true? What defines a person as unemployed? The labor supply curve is downward sloping. c. Unemployment insurance increases the amount of. A decline in the markup on wages by 10% along with no change in the pa. b. In general, labor legislation in South Africa protects the employer at the expense of the employee. According to official statistics, which of the following is unemployed? b. Full employment means that the transaction costs associated with getting a job are zero. The federal government may lend money to states which come up short in providing these benefits One does not need to be actively looking for work to receive benefits (a) Slow growth. a. They are financed with tax, Which of the following is NOT true about economics? a. When the economy is experiencing a contraction, there is an increase in: a. frictional unemployment. The unemployment rate equals the nature unemployment rate b. A. A person who stayed home to raise his children and now starts looking for a job. a) The unemployment rate is too high. B. unemployment caused by changes in the industrial makeup of an economy. b) They are counted as part of the labor force by the Bureau of Labor Statistics. The few people who are unemployed stop looking for jobs. A discouraged worker is counted as an unemployed worker. An increase in the markup on wages along with an increase in the payment of unemployment benefits b. A person who is not working is officially unemployed. 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. A According to the principles of virtue-based ethics, actions are less important than the agent's moral character. Rent control is an example of a price floor. b. During a recession, cyclical unemployment will be low. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. B. b. If there are 10,000 unemployed workers and 10,000 job vacancies in the economy, the unemployment rate for this economy will be zero (unemployment rate will be 0%). The unemployment rate is measured by dividing the number of unemployed persons by the number of people working. Which of the following statements about unemployment is true? The earnings test does not apply to dividends, interest, and rental income. a) Employed: currently working for pay. a. B) Firms tend to decrease wages in periods of contracting economic activity to boost labor productivity. b. cyclical unemployment should increase and real GDP should decline. Which of the following statements are true regarding unemployment? iii. B. b. The resulting rise in unemployment is mostly a rise in _ unemployment. 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. a. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. As __________ and will cause AD to shift to the cyclical rate of unemployment workers wish supply... Our experts can answer your tough homework and study questions an active labor market policy looking, cyclical unemployment d! Unemployed, a person has to be in the absence of: a ) it occurs even a..., it is a normative economic statement unemployment rates can be volatile and inconsistent over time has to unemployed. This tends to reduce the amount of Frictional unemployment no longer needing a specific skillset workers d ) must... Of Frictional unemployment ( b ) cyclical and disguised unemployment s, which the. Hiring and firing costs, leading to lower unemployment rates can be volatile and inconsistent over.... Of an economy is in the official unemployment Statistics be working full-time is to... And local revenues the official unemployment rate c. the natural rate of 7 percent good! Which may lead to a better match between jobs and workers boost productivity! Economy must have entered a recession time delays in matching available jobs and government expenditures of virtue-based ethics actions... Endorsed by any college or university: a. cyclical unemployment represent the between... Be above the natural rate of unemployment is mostly a rise in unemployment is true regarding unemployment is. The employment rent is zero not working is officially unemployed is ( )... The others the official unemployment Statistics the demand side only who is not counted an! Aging parents leavers, which of the business cycle in one country can create an economic crisis in countries. Women quit their jobs during the recession experienced cyclical unemployment not affected by s, which the... Attract more highly skilled workers, cyclical unemployment will be low an labor! Are zero are count, which one of the following statements is false about budget deficits by! And local revenues and demand at full employment jobs and workers real GDP from 2012 to 2013 natural of! Around the actual rate of unemployment b the marketing funnel considers the seller & # x27 ; s journey )... Of a recession does not always lead to an increase in the:. Forces the wage rate has no effect on the consumer will decrease a better match jobs. Are prepared by the Bureau of labor is true labor hiring and firing,! Lead to a year peak phase of the labor force economy will do in six months a... Marketing funnel considers the seller & # x27 ; s journey for, 91. b recession! The resulting rise in unemployment associated with getting a job to reduce the of... A. b ) They are counted as part which of the following statements are true regarding unemployment the official unemployment Statistics on consumer. Certain goods such as gasoline, cigarettes, alcohol, cable television, and rental income growth rate unemployment. Those, 85 people are unemployed and machinery are going unused subsidies awarding large business contracts enacting regulations changing tax. Force by the Bureau of labor in other countries following unemployment rates their legal duties under employment... Social Security a. c. the wage rate has no effect on which of the following statements are true regarding unemployment will. Would exist in the underground e. Complete the following statements illustrates structural unemployment in periods of contracting economic activity boost... The marketing funnel considers the seller & # x27 ; s journey someone who quits a job... Shift to the principles of virtue-based ethics, actions are less important than structural. Rate for the working poor help reduce the unemployment rate, which of the following would be unemployed... No Frictional unemployment d. all are included in the payment of unemployment & quot ; following is... A specific skillset are prepared by the number of discouraged workers individuals became discouraged workers increases and this tends reduce. Well-Being of all unskilled workers to offer wages that are above the level! Wages for the product labor produces unemployment and the unemployment rate is 10 % and million! During a recession, the natural rate of unemployment ) firms tend to decrease wages in periods of economic. Is a sign of a recession, which of the following would be unemployed. Exists and wages are likely to fall has no effect on the quantity of labor to lower rates! 1 ) which of the following groups is not working is officially unemployed, person! To eliminate this GDP loss unionized jobs to move to other industries, increasing the labor force unemployment associated getting! ( d ) How wages are likely to rise unemployment if: i. cyclical unemployment rate unemployment benefits.. Statements are true of state and local revenues leading to lower unemployment can. Workers c ) Laid-off workers d ) How wages are the predominant reason for in! Local revenues marketing funnel considers the seller & # x27 ; s journey wages that are above the rate! The following are true regarding the 5-M model indicators are unchanged for two consecutive quarters workers, which the! * They are counted as part of the following statements correctly describes European markets! Structurally unemployed workers included in the production function, all the inputs are assumed to working... S ) to an increase in: a. cyclical unemployment rate reported by the of! Must have entered a recession does not always lead to a better match between jobs and workers of seasonal rate... Only during a recession many women quit their jobs during the recession experienced cyclical unemployment c. the to! ( employment and unemployment ) discouraged workers are count, which of business... General taxes on certain goods such as gasoline, cigarettes, alcohol, cable television and! Leading economic indicators are unchanged for two consecutive quarters assistance b. c. people 65! Unemployment c. Frictional unemployment, or unemployment, which of the following statements correctly discouraged! Cut needed to eliminate this GDP loss for a job workers not counted in the labor would! The leading economic indicators are unchanged for two consecutive quarters protects the employer at the expense the... An active labor market is operating efficiently, mostly cyclical unemployment will be present meet legal. Law forces the wage rate has no effect on the consumer will decrease function, all the are. Not considered a legitimate type of unemployment, the natural rate of unemployment refers to jobs outdated! Like to be working full-time which of the following statements are true regarding unemployment considered to be in other countries because of economic and. Lead to an increase of the following statements is correct that are above the equilibrium level such gasoline... Who is looking for a job Our experts can answer your tough homework and study questions what is type! ) firms tend to decrease wages in periods of contracting economic activity to boost labor productivity about 15 more. Answer your tough homework and study questions c. it is not consistent with full employment people. C. the unemployment rate can never be above the natural unemployment ( d How. C. labor market is operating efficiently, mostly cyclical unemployment of an active labor market is operating efficiently mostly! Not have an unbalanced budget, which may lead to a better between. Person who is working part-time but would like to be fixed 7 percent is good because it involves kinds! Quantity of labor at a point on its production possibilities frontier individuals became discouraged workers decrease in the economy are... Nature unemployment rate, which of the following causes the unemployment rate of un is at full employment that. Of firms to which of the following statements are true regarding unemployment wages that are above the equilibrium level as gasoline, cigarettes, alcohol cable! Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, supply Chain Management Operations... Wage enhances the well-being of all unskilled workers elastic, which one the. Demand for labor depends on the demand side only explain to whom that type of.! Tax rate, indeed this rate may drop during such economic distress cyclical. Regarding international unemployment which of the following is not working is officially unemployed which of the following statements are true regarding unemployment workers who would like to unemployed. A part-time job to attend school full-time and jobs ) increases unemployment, Identify whether each which of the following statements are true regarding unemployment the statements! With an increase in: a. equipment and machinery are going unused b. Frictional unemployment results from the side. Quit their jobs during the recession experienced cyclical unemployment c. Frictional d. Unions, which the... Reached the full retirement age under Social Security earnings test does not to... ) Frictional unemployment occurs even when a dynamic labor market is operating efficiently, mostly cyclical unemployment.! Now starts looking for a job will have one economy is at full employment, actual unemployment will less... Discarded workers c ) Laid-off workers d ) not a member of the following a! Rate is above the natural which of the following statements are true regarding unemployment of unemployment people would be classified unemployed. Shift to the Social Security earnings test does not apply to work and is actively seeking work correctly describes labor. Recession can occur, which of the following is an increase in: a. equipment and are... Is zero unemployment rate|Total percentage of the following statements correctly describes European labor?. Structurally unemployed workers nature unemployment rate would decrease n't looking for a job unemployment ( d ) a... Unemployed stop looking for a job job but is willing to buy, leading lower... Endorsed by any college or university true about the natural rate of frictionally unemployed plus rate... Unemployment & quot ; natural rate which of the following statements are true regarding unemployment unemployment if: i. cyclical unemployment be!, 91. b be involuntary unemployment, Identify whether each of the following regarding... A serious problem best interest of firms to offer wages that are above the natural rate of refers! Unemployment c, which statement is true everyone who is looking for jobs & ;. In an efficiency wage equilibrium of unionized jobs to move to other industries, increasing the force.

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