Question 1

"Discouraged workers" comprise the percentage of those in the:​

Accepted Answer

Discouraged workers are individuals who are part of the adult population who want to be employed but have given up the search for a job. They are not considered part of the labor force as they are not actively seeking employment.

Question 2

A discouraged worker is one who:​

Accepted Answer

A discouraged worker is someone who has dropped out of the labor force because they have given up searching for a job. This can be due to various reasons such as a lack of job opportunities, a lack of skills, or being discouraged by previous unsuccessful job searches. This is different from someone who is underqualified, dislikes their job, or quits due to limited advancement opportunities.

Question 3

In April 2010,the U.S.economy added 290,000 jobs but the unemployment rate still increased from 9.7 percent to 9.9 percent.Which of the following best explains this situation?​

Accepted Answer

While the economy added a significant number of jobs, the number of unemployed workers also increased, but by an even greater percentage. This indicates that the overall labor force may have grown, resulting in a higher unemployment rate despite job growth.

Question 4

Which of the following people would be classified as unemployed?​

Accepted Answer

A person who is actively seeking employment but cannot find work in their desired field is considered unemployed. This includes individuals looking for jobs in specific industries, such as fashion modeling, where they have not yet secured employment.

Question 5

​If top government officials claim that more people are working now than ever before,then which of the following is true?

Accepted Answer

If more people are working now than ever before, it means that the number of people employed is higher now than ever before. This does not necessarily mean that the unemployment rate is lower, as it is possible for the labor force to grow at the same rate or faster than the increase in employment.

Question 6

Suppose the total population of an economy is 150 million,the labor force is 100 million,and the unemployment is 94 million.The unemployment rate is _____.​

Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force and multiplying by 100. In this case, the calculation is (94 million/100 million) x 100 = 94%, therefore the answer is C.

Question 7

Which of the following people would be counted as employed?​

Accepted Answer

Only the ski instructor who is actively working would be considered employed.

Question 8

Which of the following groups tends to have the highest unemployment rate in the United States?​

Accepted Answer

The answer of Which of the following groups tends to...

Question 9

Which of the following people would be counted among the unemployed?​

Accepted Answer

The answer of Which of the following people would be...

Question 10

In an economy,U = the number of adults who are unemployed,E = the number of adults who are employed,and NLF = the number of adults not in the labor force.The labor force participation rate in the economy is equal to:​

Accepted Answer

The labor force participation rate is the percentage of the total adult population that is either employed or actively seeking employment. This is represented by (U + E) / (U + E + NLF) because the total adult population is the sum of the employed adults, unemployed adults, and adults not in the labor force. Therefore, the correct answer is E.

Question 11

Anne is an accountant who lost her job in the last recession and has given up looking for work after an unsuccessful job search.Which of the following is true in this case?​

Accepted Answer

Anne is a discouraged worker, which means that she has given up looking for work due to a lack of opportunities or job market conditions. This is a type of unemployment that is caused by the macroeconomic environment and is classified as a form of structural unemployment.

Question 12

​Who among the following would not be considered officially unemployed?

Accepted Answer

Sophie is not considered officially unemployed because she retired early due to personal reasons, not because of job loss or inability to find work.

Question 13

Consider an economy with an adult population of 100,50 of whom hold jobs,10 of whom are looking for work,and 15 of whom are retired.The labor force participation rate is _____.​

Accepted Answer

The labor force is defined as the number of people who are employed plus the number of people who are unemployed but actively seeking work. In this economy, the labor force is made up of the 50 employed and the 10 looking for work, for a total of 60. Therefore, the labor force participation rate is 60/100 or 60 percent.

Question 14

​The unemployment rate will decrease whenever there is a(n)_____.

Accepted Answer

The unemployment rate is calculated as the number of unemployed persons divided by the total labor force (employed plus unemployed). Therefore, if the number of unemployed persons decreases while the size of the labor force stays the same or increases, the unemployment rate will decrease. Option A is incorrect because an increase in the number of unemployed persons will lead to an increase in the unemployment rate. Option C is incorrect because a decrease in the population size may lead to a decrease in the labor force, but it does not guarantee a decrease in the number of unemployed persons. Option D is incorrect because a reduction in the size of the labor force would not necessarily result in a decrease in the unemployment rate. Option E is partially correct, but it is not specific enough to explain what happens to the unemployment rate.

Question 15

Which of the following groups experiences high unemployment rates?​

Accepted Answer

Blue-collar workers are more likely to experience high unemployment rates due to factors such as outsourcing, automation, and economic downturns that affect industries such as manufacturing, construction, and transportation. White-collar professionals, attorneys, technical workers, and web page designers generally have lower unemployment rates.

Question 16

A recent college graduate who is looking for her first job would be considered _____.​

Accepted Answer

A recent college graduate who is looking for her first job but has not yet found one is considered to be unemployed.

Question 17

Which of the following is true of labor force participation rates in the United States since the 1950s?​

Accepted Answer

Since the 1950s, the labor force participation rate for men has declined due to the increase in retirement rates and the rise of service sector jobs, while the rate for women has increased due to the feminist movement and access to contraception.

Question 18

In an economy,U = the number of adults who are unemployed,E = the number of adults who are employed,and NLF = the number of adults not in the labor force.The unemployment rate of the economy is equal to:​

Accepted Answer

The unemployment rate is calculated as the number of unemployed adults (U) divided by the total labor force, which is the sum of employed (E) and unemployed (U) adults, hence the formula U/(U + E).

Question 19

Which of the following is true of the labor force participation rate?​

Accepted Answer

The labor force participation rate is the percentage of the working-age population that is either employed or actively seeking employment. When individuals who are unemployed become discouraged and stop actively seeking employment, they are no longer counted as part of the labor force, causing a decline in the participation rate.

Question 20

The labor force participation rate for women in the United States has _____.​

Accepted Answer

The labor force participation rate for women in the United States has increased significantly since the 1950s. In 1950, the participation rate for women was around 30%, and by 2019, it had risen to around 60%. This increase was partly driven by changing cultural norms and social attitudes, as well as policy changes that made it easier for women to balance work and family responsibilities.

Quiz 7: Unemployment and Inflation

"Discouraged workers" comprise the percentage of those in the:

A discouraged worker is one who:

In April 2010,the U.S.economy added 290,000 jobs but the unemployment rate still increased from 9.7 percent to 9.9 percent.Which of the following best explains this situation?

Which of the following people would be classified as unemployed?

If top government officials claim that more people are working now than ever before,then which of the following is true?

Suppose the total population of an economy is 150 million,the labor force is 100 million,and the unemployment is 94 million.The unemployment rate is _____.

Which of the following people would be counted as employed?

Which of the following groups tends to have the highest unemployment rate in the United States?

Which of the following people would be counted among the unemployed?

In an economy,U = the number of adults who are unemployed,E = the number of adults who are employed,and NLF = the number of adults not in the labor force.The labor force participation rate in the economy is equal to:

Anne is an accountant who lost her job in the last recession and has given up looking for work after an unsuccessful job search.Which of the following is true in this case?

Who among the following would not be considered officially unemployed?

Consider an economy with an adult population of 100,50 of whom hold jobs,10 of whom are looking for work,and 15 of whom are retired.The labor force participation rate is _____.

The unemployment rate will decrease whenever there is a(n) _____.

Which of the following groups experiences high unemployment rates?

A recent college graduate who is looking for her first job would be considered _____.

Which of the following is true of labor force participation rates in the United States since the 1950s?

In an economy,U = the number of adults who are unemployed,E = the number of adults who are employed,and NLF = the number of adults not in the labor force.The unemployment rate of the economy is equal to:

Which of the following is true of the labor force participation rate?

The labor force participation rate for women in the United States has _____.