ch 13 econ 501 - 1 Use this data to help determine which one of the following statements is true A&Bpg 269 2 How does the U.S economy create and destroy

ch 13 econ 501 - 1 Use this data to help determine which...

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1. Use this data to help determine which one of the following statements is true. A&Bpg 269 2. How does the U.S. economy create and destroy millions of jobs each year? *Some businesses are expanding, while others are contracting.*In the market system, new firms are constantly entering and exiting various industries. 3. The BLS uses the establishment survey to collect information on employment in the economy. Indicate one drawback of the establishment survey compared to the current population survey and indicate one advantage. Advantage- It is based on company payroll and not on unverifiable answers.Drawback- It does not include information about self-employed people. (more on page 275) 4. Why is the unemployment rate, as measured by the Bureau of Labor Statistics, an imperfect measure of the extent of joblessness in the economy? A) It fails to account for illegal activitiesB) it does not account for inaccurate responses to the Current Population Survey.C) Discouraged workers are not considered unemployed.D) Underemployed people are considered employed.* ALL of the above * 5. What is typical of the length of unemployment in the
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modern (post-Great Depression-era) U.S. economy?
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