ecChapter 6 - Chapter 6 Name Date 1 If s is the rate of job...

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Chapter 6 Name: __________________________ Date: _____________ 1. If s is the rate of job separation, f is the rate of job finding, and both rates are constant, then the unemployment rate is approximately: A) f /( f + s ). B) ( f + s )/ f . C) s /( s + f ). D) ( s + f )/ s . 2. If the steady-state rate of unemployment equals 0.10 and the fraction of employed workers who lose their jobs each month (the rate of job separation) is 0.02, then the fraction of unemployed workers who find jobs each month (the rate of job findings) must be: 3. One reason for unemployment is that: 4. Unemployment caused by the time it takes workers to search for a job is called ______ unemployment. 5. Frictional unemployment is inevitable because: A) different sectors do not shift. B) the economy needs to be lubricated. C) workers never quit their jobs to change careers. D) the demand for different goods always fluctuates. Page 1
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