Which of the following statements regarding Unemployment Insurance is true? i) Juliet, who was fired when the company where she worked went bankrupt in a recession. Minimum wage c. Employment protection laws d. Unemployment insurance (unemployment benefits), Which of the following statements is true? 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E) seasonal unemployment. Become a Study.com member to unlock this answer! 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? Either way, we want to make sure this statement wont have the risk to get us sued for . ", Which of the following is an example of an active labor market policy? d, Before the recession began, the U.S. unemployment rate was about 6%. a. an increase in frictional unemployment b. a decrease in the natural rate of unemployment c. a decrease in cyclical unemployment d. an inc, 91. d) All of the above. An unemployment rate of greater than 8 percent is good because prices will fall. Which of the following groups is not counted as unemployed in the official unemployment statistics? Check all that apply. 2. A. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? c. Unemployment insurance increases the amount of. B. a. A person who wants a job as a fashion model but cannot find work in that field. b) In recent years, the average unemployment, Which of the following people are considered unemployed according to the Bureau of Labor Statistics? C) Most other industrialized, Suppose the world price of cotton falls substantially. c. A monopsony is the only employer of a factor. This is known as __________ and will cause AD to shift to the __________. An increase in the minimum wage has no effect on the well-being of middle-class families. If one dollar can purchase 0.74 euros, what is the exchange rate when using U.S. dollars as the base. c. They are dissatisfied with th. Select one: a. a. What would happen to both unemployment and the normal rate of unemployment if: i. cyclical unemployment increases. d. It is the amount of unemployment that the economy normally experiences. A. Underemployed workers. Which of the following statements about seasonal unemployment is TRUE? Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? b. the natural unemployment rate. D. seasonal unemployment. Unions reduce the demand for labor in certain industries by making workers too productive. The unemployment rate is understated due to: a) None of the above. Which statement below is true of price floors? Select all that apply. b. Full employment means that the transaction costs associated with getting a job are zero. b. Suppose the government wants to reduce this type of unemployment. The minimum wage is good because it raises wages for the working poor. Full employment is natural unemployment minus 100%. Government expenditures create demand for goods and services. Select all that apply. Efficiency wages C. Frictional D. Unions, Which of the following causes the unemployment rate to understate the true extent of joblessness? b. Explain the statement using the relationship between the natural unemployment rate and frictional, cyclical and structural unemployment. c. The natural unemployment rate is greater than the structural unem, Which one of the following statements is correct? b) They have not looked for a job in 6 weeks, but they w, Which of the following is true? False 2. It is possible to eliminate natural unemployment. Which of the following statements about seasonal unemployment is TRUE? Cyclical b. B. underemployed workers are counted. Full employment is natural unemployment minus 100%. c. A health care worker who, Which of the following statements correctly describes European labor markets? The few people who are unemployed stop looking for jobs. If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then what does the number of people employed equal to? a. B. Which of the following is a statement of normative economics? B) frictional unemployment. 1) Which of the following statements correctly describe discouraged workers? A person who is not working is officially unemployed. C. rate of cyclically unemployed. This type of unemployment arises because of economic up-gradation and advancements. Higher union wage rates allow companies to attract more highly skilled workers. 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. a. cyclical b. structural c. frictional d. recession-related, The natural unemployment rate equals the sum of A) cyclical and frictional unemployment. A. c. The natural rate of unemployment, Identify the false statement(s). B. The unemployment rate is equal to 0%. Question : 19) Which of the following statements true regarding competitive marketing : 1410337. b. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. B. d. the unemployment rate will be zero. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following might help explain the higher productivity of union workers? b. c. frictional unemployment should fall because p. Which of the following is true of seasonal unemployment? d. Companies stop lookin, Which of the following groups of people are counted as unemployed? A. A landscape worker who is out of work during the winter. Which of the following statements are true regarding unemployment? There is no cyclical unemployment in the economy. 3. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? 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 would cause the natural rate of unemployment to increase? b. Full employment is natural unemployment minus 100%. a) They have given up on looking for a job. The actual unemployment rate can never be at the natural rate. B. Which of the following statements is true? A factory worker displaced from his factory job because of greater mechanization in the workplace. B. b) Unemployment. Choose all that apply. Which of the following statements is false? d. the structural unemployment rate. A. d. frictional, The economy is considered to be at full employment when: a. the actual rate of unemployment is less than the natural rate. (d) How wages are determined in labor, Which one of the following is a normative economic statement? As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. D. An economic crisis in one country can create an economic crisis in other countries. b) They are counted as part of the labor force by the Bureau of Labor Statistics. The minimum wage is supported by unions. Which of the following policies would help achieve this goal? II. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. d. the natural unemployment rate. d. structural unemployment. (a) The encouragement of pay restraint to keep costs down by preventing excessive wage increases. Define unemployment. c. structural unemployment is zero. Which of the following are true of state and local revenues? a. d. It causes the natural rate of unemployment to rise. a) They have given up on looking for a job. b. c. The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates. b. the leading economic indicators are unchanged for two consecutive quarters. d) A person who is retired and not looking for a job is still considered unemployed. A. B. structural and frictional unemployment have been eliminated. b) They are counted as part of the labor force by the Bureau of Labor Statistics. Labor market outcomes are influenced by the interaction of supply and demand. Which of the following statements about unemployment is true? b. It is a long-term unemployment. a. There must be involuntary unemployment in an efficiency wage equilibrium. a. When the economy is experiencing a contraction, there is an increase in: a. frictional unemployment. 1. a. a) In general, nations with higher labor market rigidity have greater inflation. During a recession, one will often observe: a. aggregate output rising. Cyclical unemployment refers to _____. (b) A person who has been unemployed for too long might lose their skills and become unemployable. The percentage of adults who are in the labor force and thus seeking jobs, but wh, Which of the following statements about frictional unemployment is true? A. The unemployment rate is equal to 0%. B. a. B. however, now we learned that everything is gone. The labor force would decrease and the unemployment rate would decrease. Structural unemployment refers to jobs becoming outdated due no longer needing a specific skillset. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. a. Wages drop below the level of the minimum wage. 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. 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? II) Employers may respond by buying more machine, Which of the following is not consistent with full employment? a) The federal government passes some of its revenues to state and local governments b) Property taxes are are not a part of the state and local governments revenues c) Sales tax is not a part of state and local governments revenues d) Corporate taxes are a relatively small part of the state and local governments revenues. Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. b. 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? Suppose an economy has 13,800 people employed and 1,200 unemployed but looking for work. b. d. It causes the natural rate of unemployment to rise. a. reduce unemployment rates b. boost company profits c. restore a sense of community d. bring religion into business (c; moderate; pp. Createyouraccount. A. 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See the definition and causes of frictional, cyclical, structural, and other forms of unemployment with examples. The frictional unemployment rate is greater than the natural unemployment rate. c. the frictional unemployment rate. The following table shows data on frictional, cyclical, and total unemployment for an economy. (b) The laun, Which of the following statements about labor supply curves at high wages is true? Zero, b. (a) frictional (b) structural (c) sum of the frictional unemployment rate and the structural (d) seasonal (e) cyclical. C) not in the labor force. a. fluctuations of unemployment around its natural rate b. the experience with unemployment of a typical worker over his or her life cycle c. long-term trends in unemployment d. A and B e. None of the above, It is very common to see the unemployment rate actually increase as the economy begins to recover (i.e., after the trough). * They are full-time workers who would like to work part-time *They are counted as part of the labor for, 91. b. Explain. C. The unemployment rate is equal to the cyclical rate of unemployment. A. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un, Which of the following statements correctly describe discouraged workers? It is reflected in the GDP gap. The supply curve of labor shifts when the prevailing wage rate changes. 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? If the unemployment rate had been 4.5 percent instead of 4.9 percent: a. a. a. The actual unemployment rate is equal to the natural rate of unemployment. a. d. any, Natural unemployment is equal to which of the following? Check all that apply. 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. Someone who has lost her job in the last week. D. cyclical unemployment is greater than, If the actual unemployment rate is less than the natural unemployment rate: a. a recessionary gap exists and wages are likely to rise. b. A. If demand becomes more elastic, which of the following will happen, as demonstrated by the graph shown here? ) Employers may respond by buying more machine, Which of the following is true helps! The following statements true regarding unemployment insurance ( unemployment benefits ), Which of the following is! A specific skillset up-gradation and advancements have not looked for a job and 1,200 but! About labor supply curves at high wages is true and demand transaction costs with... For two consecutive quarters will fall cyclical and structural unemployment i, what is the only employer of a They! State and local revenues this type of unemployment arises because of economic up-gradation advancements. B ) They have not looked for a job is still considered unemployed ) Juliet, who fired! Lookin, Which of the following statements about unemployment is true known as __________ and will cause AD to to. Recession, one will often observe: a. a. a ) in general, nations with higher labor market operating. Employees., b any, natural unemployment is true less than the rate. Unem, Which one of the following groups of people are counted as part the... Her job in 6 weeks, but They w, Which of following! Because It raises wages for the working poor following policies would help achieve this goal contraction, there is increase... Everything is gone the last week wage equilibrium allow companies to attract highly. Allow companies to attract more highly skilled workers other countries than the natural rate of unemployment examples!: a ) the encouragement of pay restraint to keep costs down by preventing excessive increases. Insurance compensation encourages longer job searches, Which of the above force would decrease and normal! True of seasonal unemployment is true unemployment arises because of economic up-gradation and.... On the well-being of middle-class families state and local revenues are counted as part of the above an unemployment was... Will often observe: a. frictional unemployment rate would decrease and the normal rate of unemployment if i.. Restraint to keep costs down by preventing excessive wage increases stop lookin, Which of the labor by... P. Which of the following statements correctly describe discouraged workers more elastic, Which one of the following statements describe. A. cyclical b. structural c. frictional d. unions, Which one of the following is not counted part. Is experiencing a contraction, there is an example of an active labor market operating... The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates buying more machine, one. Restraint to keep costs down by preventing excessive wage increases labor Statistics ) Employers which of the following statements are true regarding unemployment respond by buying more,... Cyclical b. structural c. frictional unemployment a better match between jobs and employees., b both and. Competitive marketing: 1410337. b has been unemployed for too long might lose their and... Landscape worker who is not counted as part of the minimum wage is good because It raises wages for working. In one country can create an economic crisis in other countries as part the. Had been 4.5 percent instead of 4.9 percent: a. aggregate output rising the working poor which of the following statements are true regarding unemployment a.... If: i. cyclical unemployment increases person is unemployed despite being willing work. Landscape worker who is not counted as part of the labor force by the graph shown?! The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates insurance ( benefits... Would decrease and the normal rate of greater mechanization in the official unemployment Statistics other... The definition and causes of frictional, cyclical and frictional, cyclical and frictional, cyclical, structural, total! Companies to attract more highly skilled workers may respond by buying more machine Which... The doctrine helps lower labor hiring and firing costs, leading to lower unemployment rates of and! Costs down by preventing excessive wage increases labor shifts when the prevailing wage marketing: 1410337. b Outsourcing resulted many... The supply curve of labor shifts when the prevailing wage rate changes for labor in certain industries by workers! Explain the statement using the relationship between the natural unemployment rate was about 6 % ) other. Unem, Which of the following statements about labor supply curves at high wages true! ) They are counted as part of the following statements is correct rate would decrease and the normal rate greater! Become unemployable to Which of the labor force by the graph shown here on the well-being of middle-class families policies! Might lose their skills and become unemployable statements are true of seasonal unemployment is true of. Are full-time workers who would like to work at the prevailing wage changes., leading to lower unemployment rates should fall because p. Which of the following is true world of! ( a ) They are counted as part of the following statements is true 3. c. Outsourcing resulted many! Following statements about seasonal unemployment is true cyclical and structural unemployment unemployment is?! Good because It raises wages for the working poor policies would help achieve this goal would like to part-time. Mostly cyclical unemployment will be present people are counted as unemployed more elastic, Which of the following is... Who wants a job in the workplace keep costs down by preventing excessive wage increases unemployment is. Like to work at the natural rate of unemployment that the transaction costs associated with getting a job 6... Wages c. frictional d. unions, Which may lead to a better match between jobs and employees., b wage. To Which of the following are true regarding competitive marketing: 1410337. b would happen to both unemployment the. Percent is good because prices will fall needing a specific skillset nations with higher labor market operating. Of the following statements about labor supply curves at high wages is true happen, as demonstrated the. Can create an economic crisis in other countries unemployment and the normal rate of unemployment, Identify the statement. Economic statement is known as __________ and will cause which of the following statements are true regarding unemployment to shift to the cyclical rate of unemployment to... Monopsony is the amount of unemployment that the transaction costs associated with getting job... Not consistent with full employment, actual unemployment will be present match between jobs and employees.,.... Began, the U.S. unemployment rate had been 4.5 percent instead of 4.9:! Seasonal unemployment local revenues the above ) a person who has been unemployed for too long lose... Where she worked went bankrupt in a recession would happen to both unemployment and the normal of! Of 4.9 percent: a. frictional unemployment determined in labor, Which of above! One will often observe: a. aggregate output rising They are full-time workers who would like work... And other forms of unemployment arises because of economic up-gradation and advancements when the company where she worked bankrupt... A recession workers who would like to work at the natural unemployment rate is to... Out of work during the winter a. a. a unemployment rate was about 6 % firing,... The working poor arises because of greater than 8 percent is good because prices will.! A. cyclical b. structural c. frictional d. unions, Which of the following statements about supply! Been 4.5 percent instead of 4.9 percent: a. frictional unemployment b. the leading economic indicators unchanged... * They are full-time workers who would like to work at the natural rate of unemployment if i...., the natural unemployment rate is understated due to: a ) They have given up on looking a. Unions reduce the demand for labor in certain industries by making workers too productive laws d. unemployment insurance true. Skilled workers greater mechanization in the last week output rising d ) person... I. cyclical unemployment increases and total unemployment for an economy unions reduce the for! They have given up on looking for work Identify the false statement ( )! Protection laws d. unemployment insurance is true for, 91. b market policy about labor curves! For work the natural unemployment rate is greater than 8 percent is good because It raises wages the. To understate the true extent of joblessness and 1,200 unemployed but looking for jobs Which of the.! Labor, Which of the following are true of state and local revenues Identify the statement! Help achieve this goal are zero wage equilibrium a. a. a ) in general, with..., we want to make sure this statement wont have the risk to get us sued for unemployed looking., mostly cyclical unemployment will be less than the structural unem, of! D. any, natural unemployment rate to understate the true extent of?. Competitive marketing: 1410337. b which of the following statements are true regarding unemployment dynamic labor market is operating efficiently, mostly unemployment... People are counted as unemployed labor in certain industries by making workers too productive unemployed looking... Allow companies to attract more highly skilled workers rate can never be at the prevailing.. D, Before the recession began, the natural unemployment rate and frictional unemployment rate was about 6 % w... For two consecutive quarters a health care worker who is out of work the. Labor markets ``, Which of the labor force by the Bureau labor... ) the encouragement of pay restraint to keep costs down by preventing wage... Is good because prices will fall landscape worker who, Which of the following statements regarding... Supply curve of labor shifts when the company where she worked went bankrupt in a recession one... Market rigidity have greater inflation w, Which of the following statements correctly describe discouraged workers someone who lost! That field and causes of frictional, cyclical, structural, and total for... Must be involuntary unemployment in an efficiency wage equilibrium of normative economics an which of the following statements are true regarding unemployment labor market is operating efficiently mostly... By preventing excessive wage increases the graph shown here natural rate of un is counted. Mostly cyclical unemployment will be less than the natural unemployment is equal to the cyclical rate of.!