Question 1

During the 2007-2009 Great Recession, the United States witnessed:

Accepted Answer

A)   a decrease in the number of discouraged workers.
B)   a decrease in the labor force participation rate.
C)   a decrease in the unemployment rate.
D)   a decrease in the number of underemployed workers.
E)   an increase in the labor force participation rate.F) A) and B)
G) C) and D)

Question 2

When the unemployment rate is equal to its natural rate-that is, no cyclical unemployment exists-the output level produced in the economy is:

Accepted Answer

A)   always increasing.
B)   at full-employment output.
C)   below full-employment output.
D)   above full-employment output.
E)   always decreasing.F) A) and D)
G) D) and E)

Question 3

Which of the following statements about the composition of the labor force is correct?

Accepted Answer

A)   Since 1948, the labor force participation gap between males and females has decreased.
B)   Since 1948, the percentage of women participating in the labor force has decreased.
C)   Since 1948, the percentage of men participating in the labor force has increased.
D)   Since 1948, the percentage of women participating in the labor force has remained the same.
E)   Since 1948, the labor force participation gap between males and females has risen.F) B) and D)
G) A) and B)

Question 4

Brian Murphy is a political consultant for a candidate in Massachusetts. Mr. Murphy's candidate is defeated in the November election, and as a result, Mr. Murphy finds himself unemployed. Mr. Murphy's unemployment is classified as:

Accepted Answer

A)   discouraged unemployment.
B)   structural unemployment.
C)   frictional unemployment.
D)   cyclical unemployment.
E)   long-term unemployment.F) B) and E)
G) B) and D)

Question 5

How do the unemployment rates differ between adults and teenagers in the United States, holding all else constant? What are some reasons for this difference?

Accepted Answer

Holding all else constant, the unemploym...

Question 6

You are given the following statistics about the economy:
Unemployment rate: 5.7%
Labor force participation rate: 71.7%
Number of unemployed: 10 million
Relevant population: 244 million
a. How many people are in the labor force?
b. How many people are employed?
c. How many people are classified as not being in the labor force?

Accepted Answer

a. 175 mil...

Exam 7: Unemployment

During the 2007-2009 Great Recession, the United States witnessed:

Correct Answer
verified

Correct Answer
verified
a. 175 mil...
View Answer

Brian Murphy is a political consultant for a candidate in Massachusetts. Mr. Murphy's candidate is defeated in the November election, and as a result, Mr. Murphy finds himself unemployed. Mr. Murphy's unemployment is classified as:

Correct Answer
verified

When the unemployment rate is equal to its natural rate-that is, no cyclical unemployment exists-the output level produced in the economy is:

Correct Answer
verified

How do the unemployment rates differ between adults and teenagers in the United States, holding all else constant? What are some reasons for this difference?

Correct Answer
verified
Holding all else constant, the unemploym...
View Answer

Which of the following statements about the composition of the labor force is correct?

Correct Answer
verified

Exam 7: Unemployment

During the 2007-2009 Great Recession, the United States witnessed:

Correct AnswerverifiedShow Answer

Correct Answerverifieda. 175 mil...View AnswerShow Answer

Brian Murphy is a political consultant for a candidate in Massachusetts. Mr. Murphy's candidate is defeated in the November election, and as a result, Mr. Murphy finds himself unemployed. Mr. Murphy's unemployment is classified as:

Correct AnswerverifiedShow Answer

When the unemployment rate is equal to its natural rate-that is, no cyclical unemployment exists-the output level produced in the economy is:

Correct AnswerverifiedShow Answer

How do the unemployment rates differ between adults and teenagers in the United States, holding all else constant? What are some reasons for this difference?

Correct AnswerverifiedHolding all else constant, the unemploym...View AnswerShow Answer

Which of the following statements about the composition of the labor force is correct?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
a. 175 mil...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Holding all else constant, the unemploym...
View Answer

Correct Answer
verified