Chapter_27 - Your Results for"Self-Study Quiz" Print this page Site Title Principles of Economics Eighth Edition Book Title Principles of

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Unformatted text preview: Your Results for: "Self-Study Quiz" Print this page Site Title: Principles of Economics, Eighth Edition Book Title: Principles of Economics, 8/e Book Author: Case/Fair Location on Site: Chapter 27 > Self-Study Quiz Date/Time Submitted: February 9, 2012 at 4:55 AM (UTC/GMT) Summary of Results 35% Correct of 40 Scored items: 14 Correct: 35% 26 Incorrect: 65% 4 questions not scored. 40 scored questions. More information about scoring 1. Let LF equal the labor force, E the employed, and U the unemployed. The unemployment rate equals: Your Answer: Correct. The unemployment rate is the number of people unemployed as a percentage of the labor force = U/LF. 2. Cyclical unemployment can best be described as Your Answer: The unemployment associated wi available jobs. Correct Answer: The increase in unemployment th depressions. Incorrect. This is a problem associated with frictional (short-run matching) and structural (long-run matching) types of unemployment. 3. Structural unemployment occurs when Your Answer: The economy suffers from a reces Correct Answer: Changes in the economy result in certain industries. Incorrect. This is called cyclical unemployment. 4. The classical view of the unemployment market is consistent with the following idea: Your Answer: There should be no persistent une and structural amount. Correct Answer: All of the above. Incorrect. This is true; however, other answers are also correct. 5. The classical view of the unemployment market is consistent with the following idea: Your Answer: The wage rate adjusts to equate t with the quantity of labor supplied unemployment above the frictiona unlikely. Correct Answer: All of the above. Incorrect. This answer is correct, however, other choices are also correct. 6. Refer to the figure below. According to Classical economists, what is the impact of the decrease in labor demand? Your Answer: Correct. This decreased demand will cause the wage rate to fall from W to W 1 and the amount of labor demanded to fall from L to L 1 . The decrease in the quantity of labor supplied is a movement along the labor supply curve. 7. The classical view of the labor market is consistent with the view that: Your Answer: Monetary policy can have a signif and employment. Correct Answer: The aggregate supply curve is ve Incorrect. If the AS curve is vertical, then these policies have no effect on output and employment....
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This note was uploaded on 02/09/2012 for the course ECONOMY 101 taught by Professor Zaier during the Spring '11 term at Qatar University.

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Chapter_27 - Your Results for"Self-Study Quiz" Print this page Site Title Principles of Economics Eighth Edition Book Title Principles of

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