Question 1

Some jobs in the economy are no longer needed after an advancement in technology.A person who loses his or her job this way would be considered:

Accepted Answer

Structural unemployment occurs when skills or jobs are no longer in demand due to advancements in technology or changes in the structure of the economy. In this case, the person who lost their job due to technological advancements would be considered structurally unemployed. Frictional unemployment is caused by temporary joblessness while searching for a new job, cyclic unemployment is related to the business cycle, overemployment is not a recognized term in economics, and discouraged workers have given up on finding work and are not counted as unemployed.

Question 2

A government program that reduces the hardship of being out of work by guaranteeing that unemployed workers receive a percentage of their former incomes while they are unemployed is referred to as:

Accepted Answer

Unemployment insurance is a government program that provides financial assistance to unemployed workers who are actively seeking employment. It aims to reduce the hardship of being out of work by guaranteeing that unemployed workers receive a percentage of their former incomes while they are unemployed.

Question 3

Frictional unemployment is:

Accepted Answer

Frictional unemployment is caused by time delays in matching available jobs and workers. It occurs when workers are searching for better employment opportunities or when employers are looking for better-qualified workers. Since there are always going to be mismatches between the skills or preferences of job seekers and job openings, frictional unemployment will always exist to some degree.

Question 4

Frictional unemployment is present in an economy because:

Accepted Answer

The answer of Frictional unemployment is present in an economy...

Question 5

Unemployment caused by delays in matching available jobs and workers is called _________ unemployment.

Accepted Answer

Frictional unemployment occurs when workers are in the process of transitioning between jobs or entering the workforce for the first time. This type of unemployment is often due to delays in matching available jobs and workers, such as when a job seeker takes time to search for the right job, or when an employer takes time to find the right candidate for a vacancy.

Question 6

When it is difficult to hire employees,firms take ____________ to hire,which increases ____________ unemployment.

Accepted Answer

The answer of When it is difficult to hire employees,firms...

Question 7

The government has decided to give governmental grants to community colleges that offer job training for individuals who have recently been laid off due to their outmoded skills.The government is trying to reduce the level of:

Accepted Answer

Structural unemployment refers to the type of unemployment that arises from a mismatch between job seekers' skills and available job openings. In this scenario, the government is trying to address this type of unemployment by offering job training to those who have been laid off due to their outmoded skills. Therefore, the government's efforts are aimed at reducing structural unemployment.

Question 8

Which of the following statements about structural unemployment is true?

Accepted Answer

Structural unemployment is caused by changes in the structure of the economy, such as technological advancements or shifts in consumer demand. These changes can lead to certain industries or occupations becoming obsolete, causing workers in those areas to lose their jobs. Unlike cyclical unemployment, which fluctuates with the business cycle, structural unemployment cannot be eliminated through government intervention or during an economic expansion. It is a long-term issue that requires investment in education and training programs to help affected workers acquire new skills and find employment in growing industries. Structural unemployment can also have a negative impact on household incomes, as workers may have difficulty finding employment that pay wages comparable to their previous jobs. Overall, it is unhealthy for the long-run growth of an economy as it reduces the labor force's productivity and can lead to long-term economic stagnation.

Question 9

Anything that lengthens the job search process _________ unemployment.

Accepted Answer

Frictional unemployment refers to the temporary unemployment that arises from people moving between jobs or entering the labor market for the first time. Lengthening the job search process increases frictional unemployment because it means that workers are taking longer to find new jobs. Structural unemployment is caused by a mismatch between the skills of available workers and the skills demanded by employers, and is not affected by the length of the job search process. Cyclical unemployment is caused by downturns in the economy, and is also not affected by the length of the job search process. Decreasing frictional unemployment would mean that workers are finding jobs more quickly, which is the opposite of what is happening in this scenario.

Question 10

Between 1980 and 2010,steel industry employment in the United States has:

Accepted Answer

Between 1980 and 2010, the steel industry in the United States experienced significant declines in employment, with reductions around 70% due to factors like automation, increased productivity, and competition from imports.

Question 11

Jamal works in a factory in Lake Zurich,Illinois,assembling toy trains.The factory owner updates the current equipment and installs new robots that can do Jamal's job.As a result,Jamal is laid off and is now unemployed.Jamal would be considered:

Accepted Answer

Jamal is considered structurally unemployed because his skills are no longer in demand due to the technological advancements in the factory. This type of unemployment is a result of structural changes in the economy and is not related to the business cycle or temporary factors.

Question 12

The invention of the Internet has reduced ____________ unemployment because it allows for workers and employers to find each other more quickly.

Accepted Answer

The invention of the Internet has reduced frictional unemployment because it enables job seekers and employers to search for and find each other more quickly and efficiently.

Question 13

Some individuals are unemployed because it takes time for them to find jobs that fit their skill sets.These individuals would be considered to be:

Accepted Answer

Frictional unemployment is when individuals are temporarily unemployed due to the time it takes to search for a job that fits their skills and qualifications.

Question 14

Which of the following is an example of frictional unemployment?

Accepted Answer

The answer of Which of the following is an example...

Question 15

Which of the following is an example of structural unemployment?

Accepted Answer

Structural unemployment occurs when there is a mismatch between the skills of workers and the skills required for available jobs. In this case, Jasmine lost her job because the industry she worked in (newspaper editing) has gone digital, and she may not have the skills necessary to work in the digital format.

Question 16

Nina has a part-time job as she finishes her degree in fashion design.After obtaining her degree she decides to quit her part-time job to search for a job that better fits her now-improved skill set.Nina has a few interviews,but it is taking time to find the job that suits her best.Nina would be considered:

Accepted Answer

Frictional unemployment refers to the temporary unemployment that arises from the time it takes to match qualified workers with available job openings. Nina voluntarily quit her part-time job to search for a new job that better matches her improved skill set, so she is temporarily unemployed due to her job search. This type of unemployment is referred to as frictional unemployment.

Question 17

Brian Murphy is a political consultant for a candidate in Massachusetts.Mr.Murphy's candidate is defeated in the November election,and as a result,Mr.Murphy finds himself unemployed.Mr.Murphy's unemployment is classified as ___________ unemployment.

Accepted Answer

The answer of Brian Murphy is a political consultant for...

Question 18

Some people complain that immigrants are taking farm jobs away from American workers.Which is the best explanation for this claim?

Accepted Answer

Multiple studies have shown that many American workers are not interested in or capable of doing the physically demanding work required on farms. Therefore, farmers often rely on immigrant workers to fill their labor needs. It is not a matter of immigrants taking jobs away from Americans, but rather Americans not being willing or able to fill these jobs.

Question 19

Even in years when unemployment is high and millions of Americans are looking for work,thousands of jobs every year go unfilled by Americans in the farm industry.Which is the best explanation for this phenomenon?

Accepted Answer

The phrase "thousands of jobs every year go unfilled by Americans in the farm industry" indicates that there are available farm jobs that are not being filled by Americans. Therefore, the most likely explanation for this is that Americans are either unwilling or unable to work on farms.

Question 20

JTKB is an accounting firm in South Orange County,Florida.Company policy is that whenever JTKB decides to open up a new accounting position,the hiring manager must conduct at least five interviews over a two-week span.Because of this process,JTKB is increasing ____________ in South Orange County,Florida.

Accepted Answer

The process of conducting multiple interviews over a few weeks is a characteristic of frictional unemployment, which is the result of workers transitioning to new jobs or entering the labor force. Therefore, JTKB's hiring process is likely to increase frictional unemployment in South Orange County, Florida.

Quiz 10: What Is Macroeconomics?