Question 1

$\begin{array} { l c } 
\hline  { \text { Category } } & \begin{array} { c } 
\text { Number of People } \
\text { (millions) }
\end{array} \
\hline \text { Marginally attached workers } & 2.1 \
\text { Unemployed workers } & 12.1 \
\text { Employed workers } & 140.0 \
\text { Working-age population } & 250.0 \
\hline
\end{array}$
-
Using the data in the above table, the labor force participation rate is

Accepted Answer

The labor force participation rate is the percentage of the working-age population that is in the labor force. The labor force is defined as the sum of employed and unemployed workers. In this case, the labor force is 140.0 + 12.1 = 152.1 million people. The working-age population is 250.0 million people. Therefore, the labor force participation rate is 152.1 / 250.0 * 100 = 60.8 percent.

Question 2

In the 2008-09 recession, the percentage of part-time workers due to economic reasons

Accepted Answer

E

Question 3

Structural unemployment usually lasts_{-------------}period of time_{-------------}unemployment

Accepted Answer

Structural unemployment typically lasts longer than frictional unemployment because it involves more fundamental changes in the economy, such as shifts in industries or technology, requiring workers to acquire new skills or relocate.

Question 4

Consider the following people:
·	Chris quits his job as an automobile mechanic to pursue his college education full-time.
·	Darrelo was laid off from her technical support job because of a strike by production workers and is currently looking for a new job.
·	Rita graduated from college and is currently looking for a job.
·	Armondo quit his old job and will begin his new job in four days.
·	Thorton was fired from his job as a steel worker because of massive imports of steel and he is looking for a new job.
·	Jung was laid off from his job as an appraiser because the firm's business declined because of a general downturn in the
economy and he is currently looking for a new job as an appraiser.

-According to the scenario above, in which of the following groups are all the people structurally
Unemployed?

Accepted Answer

Structural unemployment occurs when there is a mismatch between the skills of the workforce and the needs of the industry. Thorton is structurally unemployed because he lost his job due to massive imports of steel, indicating a change in the industry that affects his employment.

Question 5

In January of 2001, the population of the United States was 276.8 million, the working-age Population was 210.2 million, the total number of people employed was 140, and the total number
Of people unemployed was 5.0 million. What was the labor force participation rate?

Accepted Answer

The labor force participation rate is the percentage of the working-age population that is employed or unemployed. In this case, the working-age population is 210.2 million, and the total number of people employed or unemployed is 140 + 5.0 = 145 million. Therefore, the labor force participation rate is 145 / 210.2 * 100 = 69%.

Question 6

$\begin{array} { l c } 
\hline  { \text { Category } } & \begin{array} { c } 
\text { Number of People } \
\text { (millions) }
\end{array} \
\hline \text { Marginally attached workers } & 2.1 \
\text { Unemployed workers } & 12.1 \
\text { Employed workers } & 140.0 \
\text { Working-age population } & 250.0 \
\hline
\end{array}$
The following are groups of individuals in the population:
1. Individuals who are under 16
2. Individuals in institutional care
3. Individual in the armed forces
4. Individuals working for pay at a fulltime job
5. Individuals who are employed
6. Individuals not employed but were available for work and were looking for work
7. Individuals not employed and looking for work

-
Using the table above, the Current Population Survey classifies the group of individuals who are
Left after subtracting from the total population groups 1, 2, 3, 4, 5, and 6 as

Accepted Answer

Individuals who are not in the labor force are those who are not employed and not looking for work. This group includes individuals who are under 16, in institutional care, in the armed forces, or discouraged workers.

Question 7

In measuring the unemployment rate, part-time workers are_{-------------} and discouraged workers are_{-------------} .

Accepted Answer

Part-time workers are counted as employed in unemployment statistics, while discouraged workers, who are not actively seeking employment, are excluded from the labor force and thus not counted as unemployed.

Question 8

Phillip is a 22-year old who has no job and is available for work, but has not actively looked for a job in the last month. The Current Population Survey identifies Phillip as , the labor force, and the working-age population.

Accepted Answer

Phillip is not considered unemployed because he has not actively looked for a job in the last month. He is not part of the labor force but is part of the working-age population.

Question 9

Potential GDP is reached when

Accepted Answer

Potential GDP is reached when the economy is operating at full employment, meaning there is no cyclical unemployment, only natural unemployment (frictional and structural).

Question 10

$\begin{array} { l c c } 
\hline  { \text { Country } } & \begin{array} { c } 
\text { Employment } \
\text { (millions of people) }
\end{array} & \begin{array} { c } 
\text { Unemployment } \
\text { (millions of people) }
\end{array} \
\hline \text { Canada } & 4.5 & 1.2 \
\text { Japan } & 64.2 & 3.2 \
\text { United States } & 133.5 & 5.9 \
\hline
\end{array}$
The table above gives the number of people employed and the number of people unemployed in Canada, Japan, and the United States on the average during 1999. In 1999, the unemployment rate in was the highest and the unemployment rate in _ was the lowest.

Accepted Answer

The answer of \(\begin{array} { l c c } 
\hline...

Question 11

$\begin{array} { l c } 
\hline { \text { Category } } & \begin{array} { c } 
\text { Number of People } \
\text { (millions) }
\end{array} \
\hline \text { Marginally attached workers } & 2.1 \
\text { Unemployed workers } & 12.1 \
\text { Employed workers } & 140.0 \
\text { Working-age population } & 250.0 \
\hline
\end{array}$
-
Using the data in the above table, the unemployment rate is

Accepted Answer

The answer of \(\begin{array} { l c } 
\hline {...

Question 12

$\begin{array}{clcc}
\hline &&&\text { Want to Work But }\
\text { Total } & \text { Currently } & \text { Not Working and } & \text { No Longer } \
\text { Population } & \text { Employed } & \text { Looking for Work } & \text { Looking for Work } \
\text { (millions) } & \text { (millions) } & \text { ( millions) } & \text { (millions) }\\hline
80&40&2&4\
\hline
\end{array}$
In the table above, the unemployment rate is

Accepted Answer

The unemployment rate is calculated as the number of people not working but looking for work divided by the total labor force (employed + looking for work). Here, it's $ \frac{2}{40+2} \times 100 = 4.8\% $.

Question 13

Structural unemployment is the result of

Accepted Answer

Structural unemployment occurs when there is a mismatch between the skills of the workforce and the needs of the industry, often due to technological advancements or increased foreign competition.

Question 14

Which of the following people would be considered unemployed?

Accepted Answer

Victoria is considered unemployed because she does not have a job and is actively searching for work, which fits the definition of unemployment.

Question 15

In the United States, a reason for the increase of the labor force participation rate for women is that

Accepted Answer

More women pursued higher education, leading to better job opportunities and higher wages, which increased their participation in the labor force.

Question 16

An employee who is fired from his or her job because he or she lacks the skills required to Accomplish the task, is part of _{-------------}unemployment.

Accepted Answer

Structural unemployment occurs when there is a mismatch between the skills that workers have and the skills needed for available jobs, often due to technological changes or shifts in the economy.

Question 17

Frictional unemployment is the result of

Accepted Answer

Frictional unemployment occurs due to normal labor market turnover, such as people changing jobs, entering the workforce, or transitioning between jobs.

Question 18

If KeKe, age 32, worked 12 hours as a paid employee the week before the Current PopulationSurvey, KeKe is classified in the Current Population Survey as _{-------------}when calculating the unemployment rate.

Accepted Answer

KeKe is classified as employed because she worked for pay during the reference week of the survey.

Question 19

The number of part-time workers for economic reasons_{-------------} during recessions and the Number of part-time workers for noneconomic reasons _{-------------}during recessions

Accepted Answer

During recessions, the number of part-time workers for economic reasons increases as businesses cut hours or workers can't find full-time jobs. The number of part-time workers for noneconomic reasons typically does not change significantly as these reasons are often personal and not directly tied to economic conditions.

Question 20

When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing
I. seasonal unemployment. ii. structural unemployment. iii. cyclical unemployment.

Accepted Answer

Structural unemployment occurs when there is a long-term change in the economy that alters the demand for certain skills, such as the shift from horse-drawn carriages to automobiles.

Quiz 6: Jobs and Unemployment

In the 2008-09 recession, the percentage of part-time workers due to economic reasons

Structural unemployment usually lasts-------------period of time-------------unemployment

In January of 2001, the population of the United States was 276.8 million, the working-age Population was 210.2 million, the total number of people employed was 140, and the total number Of people unemployed was 5.0 million. What was the labor force participation rate?

In measuring the unemployment rate, part-time workers are------------- and discouraged workers are------------- .