EC200-70HW2_DueSept23_Fall2017 (1).docx

EC200-70HW2_DueSept23_Fall2017 (1).docx - EC200-70 HW 2(Due...

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EC200-70 HW 2 (Due back on Sept. 23) Fall 2017 Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The presence of unemployment in the labor market implies that: 1) _______ A) there is excess demand in the labor market. B) people are not willing to work at the current wage. C) there are some people who will not work at the current wage. D) at the current wage, there are people who want to work but cannot Fnd work. 2) A person who is currently actively looking for a job, but has not found a job is classiFed by the BLS as: 2) not in the labor force. unemployed. under 16. employed. 3) The unemployment rate equals: 3) (labor force - employed)/labor force. unemployed/employed. (employed - unemployed)/labor force. labor force/population. 4) An increase in the labor force, without a corresponding increase in the number of employed workers will cause the:
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4) unemployment rate to increase. unemployment rate to decrease. the labor force participation rate to decrease. the population growth rate to increase. 5) Janie graduated from college a month ago and is now without work. She accepted a job that will start next month. Today, Janie is: 5) _______ A) a discouraged worker. B) employed. C) not in the labor force. D) in the labor force. 6) Janie graduated from college a month ago and is now without work. She accepted a job that will start next month. Today, Janie is: 6) unemployed. not in the labor force. employed. a discouraged worker. Table 6.1 7) Refer to Table 6.1. The labor force equals:
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7) 16,000. 14,000. 13,500. 16,500. 8) Refer to Table 6.1. The unemployment rate is: 8) 15.2%. 22.7%. 9.09%. 18.5%. 9) Refer to Table 6.1. The labor force participation rate is: 9) _______ A) 37.5 percent. B) 82 percent. C) 63 percent. D) 18 percent. 10)
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Discouraged workers: 10) are part of the labor force. are not considered as part of the labor force. are part of frictional unemployment. are part of structural unemployment. 11) The portion of unemployment that is due to the mismatch between skills and jobs is called ________ unemployment. 11) discouraged-worker frictional structural cyclical 12) Changes in the unemployment that occur as the economy expands and contracts are called ________ unemployment. 12) cyclical frictional the natural rate of structural 13) When an economics professor quits his job from a university and starts looking for a job in another university, he is: 13) ______
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A) structurally unemployed.
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