chapter 26 quiz

chapter 26 quiz - 1 Suppose there are 5 million unemployed...

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1. Suppose there are 5 million unemployed workers seeking jobs. After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work. As a result of this, the official unemployment rate would: A) decline. B) increase. C) increase in the short run but eventually decline. D) be unchanged. 2. Cyclical unemployment results from: A) a deficiency of spending on goods and services. B) the decreasing relative importance of goods and the increasing relative importance of services in the U.S. economy. C) the everyday dynamics of a free labor market. D) technological change. 3. The type of unemployment associated with recessions is called: A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment. 4. A college graduate using the summer following graduation to search for a job would best be classified as: A) not officially a member of the labor force. B) a part of structural unemployment.
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chapter 26 quiz - 1 Suppose there are 5 million unemployed...

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