Take the Quiz Again 1 / 1 pts Question 1 Exhibit 12-2 Unemployment categories Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately:
5/9/2019 M10: Quiz: 00A-Spring 2019-Economics Fundamentals CAFE 2/7 10 percent. 12 percent. 17 percent. 20 percent. 1 / 1 pts Question 2 Which of the following will most likely occur during the recovery phase of a business cycle? Real GDP rises, and unemployment falls. Real GDP declines, and inflation rises. Interest rates rise, and the number of business failures rise. Inflation rises, and employment falls. 1 / 1 pts Question 3 If the GDP gap is -$3.5 trillion, then workers are employed overtime. the economy is experiencing a boom. the economy is in a recession. cyclical unemployment is negative.
5/9/2019 M10: Quiz: 00A-Spring 2019-Economics Fundamentals CAFE 3/7 1 / 1 pts Question 4 A person who voluntarily quits his/her job in New York and expects to get a similar job in Los Angeles is an example of: structural unemployment. cyclical unemployment. durational unemployment.