2020 -- Quiz 4 - Name: _ _ Date: ECO 2020 (902) 11656...

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Name: _____________________________________________________ Date: __________________ ECO 2020 (902) 11656 QUIZ 4 Wayne State University Instructor: Jinghua Huang Fall 2011 Multiple Choice: Identify the letter of the choice that best completes the statement or answers the question. 1. The natural unemployment rate is the unemployment rate A) when the economy is in a recession. B) when real and potential GDP are equal. C) when the economy is in a boom. D) related to the business cycle. E)when real and nominal GDP are equal. 2. Frictional unemployment occurs because A) it takes time to find a job. B) people have insufficient skills. C) of economic booms. D) of recessions. E)of inflation. 3. The Current Population Survey is a survey of A) 1 million households in the United States. B) all households in the United States. C) unemployed individuals. D) 60,000 households in the United States. E)the whole U.S. population. 4. To be counted as unemployed a person must be A) actively looking for work. B) All of these C) working less than one hour per week. D) 16 or older. E)in the labor force. 1
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5. Which of the following statements is the only one that could possibly be true about the figure below? A)
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This note was uploaded on 03/11/2012 for the course ECO 2020 taught by Professor Huang during the Winter '12 term at Wayne State University.

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2020 -- Quiz 4 - Name: _ _ Date: ECO 2020 (902) 11656...

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