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: A) 0.02. B) 0.08. C) 0.10. D) 0.18. 3. One reason for unemployment is that: A) it takes time to match workers and jobs. B) all jobs are identical. C) the labor market is always in equilibrium. D) a laid-off worker can immediately find a new job at the market wage. 4. Unemployment caused by the time it takes workers to search for a job is called ______ unemployment. A) frictional B) structural C) efficiency D) insider 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 6. All of the following policies were adopted by government in an attempt to reduce the natural rate of unemployment except : A) unemployment insurance. B) government employment agencies.
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This note was uploaded on 11/28/2010 for the course ECO 2023 taught by Professor Foran during the Fall '08 term at Miami Dade College, Miami.

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

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