Quiz - Chapter 22

# Quiz - Chapter 22 - 1 Maximum number of choices allowed is...

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1 Maximum number of choices allowed is {0}. Points Awarded 110.00 Points Missed 10.00 Percentage 91.7% 1. Which of the following people would be counted as is employed in the Current Population Survey? A) Rich, who is working 20 hours a week but wants a full-time job B) Misty, who just quit her job to return full-time to school C) April, who just graduated from college and is looking for work D) Jason, who was laid off from work less than 6 months ago but who has stopped looking for work Points Earned: 1.0/1.0 Correct Answer(s): A 2. The population of Tiny Town is 100 people and the labor force is made up of 75 people. If 5 of these people are unemployed, the unemployment rate is A) 5/100 × 100. B) 5/80 × 100. C) 5/75 × 100. D) There is not enough information provided to calculate the unemployment rate.

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Points Earned: 1.0/1.0 Correct Answer(s): C 3. If the number of people unemployed and the number of people in the labor force grow at the same rate, then the ________. A) labor force participation rate will decrease B) unemployment rate will increase C) unemployment rate will stay the same D) labor force participation rate will increase Points Earned: 1.0/1.0 Correct Answer(s): C 4. The labor force participation rate is the ratio of A) (the labor force divided by the working-age population) multiplied by 100. B) (the number of unemployed divided by the working-age population) multiplied by Points Earned: 1.0/1.0 Correct Answer(s): A
5. Over the last 40 years, the labor force participation rate of men A) increased and the labor force participation rate of women decreased. B) decreased and the labor force participation rate of women increased. C) increased and the labor force participation rate of women increased. D) decreased and the labor force participation rate of women decreased. Points Earned: 1.0/1.0 Correct Answer(s): B 6. Component Number of people (millions) Under 16 50 Working full-time 90 Working part-time 30 Retired

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40 Unemployed 5 Using the data in the above table, the unemployment rate is A) 4.0 percent. B) 4.16 percent. C) 5.55 percent. D) 28.0 percent. Points Earned: 1.0/1.0 Correct Answer(s): A 7. Component Number of people (millions) Under 16 50 Working full-time 90
Working part-time 30 Retired 40 Unemployed 5 Using the data in the above table, the labor force participation rate is A) 66 percent. B) 58.1 percent. C) 75.7 percent. D) 96.0 percent. Points Earned: 1.0/1.0 Correct Answer(s): C 8. Over the last 30 years, aggregate hours A) have increased at the same rate as the labor force participation rate. B) have an upward trend. C) have a downward trend. D) have decreased because the average hours per worker has decreased. Points Earned: 1.0/1.0

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Correct Answer(s): B 9. The money wage rate equals \$10 per hour. If the price level rises and the money wage rate does not change, A) the real wage rate decreases. B) the quantity of goods and services that an hour of work can buy decreases.
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## This note was uploaded on 09/13/2011 for the course ECON 206 taught by Professor Parkin during the Spring '11 term at Buena Vista.

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Quiz - Chapter 22 - 1 Maximum number of choices allowed is...

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