Quiz 5

When the economy is at full employment

Macro conditions affect the decisions firm and families make. After graduation, a college student might enter the job market during an economic expansion but apply for a graduate school during a recession because

"Even though the economy is growing, even though it's created more than two million jobs over the past 15 months, we still face some tough times." What statement is correct?

The natural rate of unemployment is

When the economy is at full employment, unemployment is equal to

Economists do not define full employment as being as unemployment rate equal to zero since

The labor force participation rate is calculated by

Which one of the following accurately describes the relationship between frictional unemployment and job search?

In the journal article "Are Emily and Greg more employable than Lakisha and Jamal?" The author finds that

Which of the following is an example of structural unemployment?

Suppose that Sally J recently lost her job as an underwater welder. In looking for a new job, she discovers that the only available jobs are for economists and that there are no openings for underwater welders because the trade is now obsolete. If Sally return to school to her an Economics degree, what is the best classification of her unemployment status?

Suppose that the economy enters into a recession and that, as a result, Rusty loses his job at a delivery truck mechanic and remains unemployed. When the economy recovers, Rusty's previous employer rehires him. What is the best classification for his time as an unemployed truck mechanic?

The three types of unemployment are

The employment population ratio measures the

When an unemployed person drops out of the labor force, the unemployment rate

When an unemployed person drops out of the labor force, it

A person who is in between jobs but actively engaged in a job search is considered to be

Experts in hand-drawn animation who remain unemployed due to the film industry's switch to computer-generated animation are considered to be

when a company reduces production and employment during a recessions, those employees who lose their jobs are generally considered to be

Shouldn't the unemployment rate fall when the number of people employed increases?

How does the BLS calculate the unemployment rate?

Bob Wesley believes that structural unemployment should be eliminated in order for an economy to be healthy... in making this argument, which of the following relevant issues is he ignoring?

Recall the definitions of normal and inferior goods. During a recession, a person would prefer to work in an industry that produces

During an economic expansion, a person would prefer to work in an industry that produces

Which groups tend to have above-average underemployment rates, and which groups tend to have below average unemployment rates?

How does the US economy create and destroy millions of jobs each year?

Which of the following is an example of cyclical unemployment?

Suppose John Q is currently unemployed. Each day, John Q spends the entire day searching available job openings for an appropriate position given his set of skills, abilities, and interests. If someone asks John Q what he does for work, he tells them that he is "currently in between jobs." Which of the following best classifies John Q's unemployment status?

In 2009, the ratio of women's earnings to men's, was 77%. This is unequivocal evidence of gender discrimination, and women are discriminated a full 23 cents for every dollar.

While studies do find evidence of gender discrimination, especially against married women with children, the gender wage gap is also explained in part by women's lower level of work experience, relative to men's.