1) Which of the following individuals can be counted as unemployed?
A) Sam, a discouraged worker
B) John, a part-time worker who wants a full-time job
C) Jane, a housewife
D) None of the answers is correct
2) Jason just graduated from college but has not found a job yet. This is an example of
A) cyclical unemployment
B) structural unemployment
C) frictional unemployment
D) none of the answers is correct
3) Matthew was fired from his job during the recession. This is an example of
A) frictional unemployment
B) cyclical unemployment
C) structural unemployment
D) none of the answers is correct
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Adult population 220 million
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Unemployed persons 15 million
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Employed persons 135 million
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Discouraged workers 10 million
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4) Refer to the table above. What is the unemployment rate?
A) 6.8%
B) 11.1%
C) 10%
D) 11.4%
5) Refer to the table above. What is the labor force participation rate?
A) 61.4%
B) 68.2%
C) 6.8%
D) 72.7%
6) Refer to the table above. Labor force equals
A) 135 million
B) 220 million
C) 145 million
D) 150 million
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Adult population 70 million
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Labor force 42 million
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Part-time workers 34 million
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Full-time workers 4 million
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7) Refer to the table above. What is the unemployment rate?
A) 7.2%
B) 9.5%
C) 8%
D) 10.5%
8) Refer to the table above. What is the labor force participation rate?
A) 60%
B) 90.5%
C) 54.3%
D) 87.5%
9) How does a minimum wage affect the labor market?
A) it does not affect the labor market
B) quantity demanded of labor will be equal to the quantity supplied of labor
C) it decreases unemployment
D) it increases unemployment
10) The natural unemployment rate is equal to
A) the sum of frictional, structural, and cyclical unemployment
B) the sum of frictional and cyclical unemployment
C) the sum of structural and cyclical unemployment
D) the sum of frictional and structural unemployment