Chapter_14

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Unformatted text preview: pts Skill: Conceptual AACSB: Reflective Thinking 2) If a person is not employed but is looking for work, she is in the labor force. Answer: TRUE Diff: 1 Topic: The Labor Market: Basic Concepts Skill: Conceptual AACSB: Reflective Thinking 3) Frictional unemployment is the type that arises due to recessions. Answer: FALSE Diff: 1 Topic: The Labor Market: Basic Concepts Skill: Definition 4) Structural unemployment arises when the economy changes making some jobs obsolete. Answer: TRUE Diff: 1 Topic: The Labor Market: Basic Concepts Skill: Definition 5) Cyclical unemployment is that which rises in recessions and shrinks during expansions. Answer: TRUE Diff: 1 Topic: The Labor Market: Basic Concepts Skill: Definition 6) The unemployment rate will never be zero because the economy is dynamic and always changing. Answer: TRUE Diff: 1 Topic: The Labor Market: Basic Concepts Skill: Conceptual AACSB: Reflective Thinking 7) The unemployment rate is the fraction of the labor force without a job. Answer: TRUE Diff: 1 Topic: The Labor Mark...
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This note was uploaded on 06/02/2013 for the course ECON 130 taught by Professor Meshew during the Fall '13 term at Victoria Wellington.

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