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Exam 15: Jobs and Unemployment

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Question 61

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$\begin{array} { l c } { \text { Category } } & \begin{array} { c } \text { Number of people } \\\text { (millions) }\end{array} \\\hline \text { Total population } & 250 \\\text { Less than 16years of age } & 30 \\\text { Institutionalized } & 15 \\\text { Part-time workers } & 20 \\\text { Full-time workers } & 145 \\\text { Looking for work in the past 4 weeks } & 10 \\\text { In U.S. Armed Forces } & 10 \\\hline\end{array}$ -Using the table above, the working-age population is

A) 155 million.
B) 170 million.
C) 195 million.
D) 250 million.
E) 220 million.

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Question 62

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Which of the following is true?

A) To be classified as employed, you must be a full-time worker at a paid job.
B) To be classified as employed, you must work at least 20 hours per week at a paid job.
C) Part-time workers are all those who work less than 40 hours per week.
D) To be classified as employed, you must work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business.
E) If you are not working and turn down a job offer in the previous week, you are no longer classified as unemployed.

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Question 63

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Which of the following would be considered a marginally attached worker? i. Amy, who is working 20 hours per week at her father's business ii. Carl, who isn't working and has not looked for work in 3 months because he has been turned down for work when he last looked iii. Keke, who quit her job to take care of her daughter

In part, the increase in the labor force participation rate in the United States over the last 50 years can be attributed to

In 2011, real GDP in the United States was below potential GDP. This fact definitely means that

During a recession, the average duration of unemployment tends to

The unemployment rate is the number of people unemployed divided by the

A weakness that could be noted about the unemployment rate is that it

If Jose is 22-years old, is available to work but does not have a job and made no specific efforts to find a job for the previous month, Jose is classified in the Current Population Survey as

Which type of unemployment is the consequence of downturns in the business cycle?

In 2008 as the economy moved into a recession,

If 160 million people are employed, 15 million people are unemployed, and the population is 280 million people; the unemployment rate is

The labor force participation rate is the

If real GDP exceeds potential GDP, then the unemployment rate ________ the natural unemployment rate.

Involuntary part-time workers are workers who

The amount of frictional unemployment depends on

Full employment means that

Rosina Gonzales quit her job in Pennsylvania and moved to California to be close to her family. She is currently looking for work, so she would be considered

If a significant number of part-time workers successfully find full-time employment, then

At full employment there still exists some unemployment because