EC201 chapter_7_Quiz Full

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Unformatted text preview: n the labor force because he turned down the opportunity to relocate. Answer: A Diff: 2 Topic: Unemployment Skill: Conceptual AACSB: Reflective Thinking 53) An individual who cannot find a job because his or her job skills have become obsolete is an example of A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment. Answer: B Diff: 1 Topic: Unemployment Skill: Conceptual AACSB: Reflective Thinking 54) The natural rate of unemployment is generally thought of as the A) ratio of the frictional unemployment rate to the cyclical unemployment rate. B) sum of structural unemployment and cyclical unemployment. C) sum of frictional unemployment and cyclical unemployment. D) sum of frictional unemployment and structural unemployment. Answer: D Diff: 1 Topic: Unemployment Skill: Definition 55) The sum of frictional and structural unemployment is thought of as the A) natural rate of unemployment. B) normal rate of unemployment. C) cyclical rate of unemployment. D) seasonal rate of unemployment. Answer: A Diff: 1 Topic: Unemployment Skill: Def...
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