Macroeconomics Actual Quiz Ch.7 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Official unemployment is identified as when:
answer
a worker who is not currently employed is searching for a job unsuccessfully.
question
Structural, frictional, and cyclical are all types of:
answer
unemployment.
question
Workers who lose their job because of market innovations are considered:
answer
structurally unemployed.
question
Frictional unemployment is:
answer
unemployment caused by time delays in matching available jobs and workers.
question
In November of 2009, the United States was in a deep recession. To help keep the economy afloat, the government extended the period of time one could receive unemployment insurance to 99 weeks. This policy had an unintended consequence because:
answer
workers spent more time searching for the perfect job, which increased frictional unemployment.
question
During normal economic times, unemployment in France and Germany tends to be ____________ than in the United States mainly because of ____________.
answer
higher; labor market regulations
question
The root cause of cyclical unemployment is:
answer
downturns in the business cycle.
question
Economists refer to full-employment output as:
answer
potential GDP.
question
When the unemployment rate is equal to its natural rate—that is, no cyclical unemployment exists—the output level produced in the economy is:
answer
at full-employment output.
question
When actual unemployment is less than its natural rate:
answer
resources are employed at levels that are not sustainable in the long run.
question
A member of the labor force is defined as:
answer
someone already employed or actively seeking work.
question
Use the following table to answer the questions that follow:
According to the table, the employment rate in this economy is equal to:
answer
92.2%.
question
During periods of recession:
answer
the unemployment rate rises.
question
Katherine was laid off from her job 11 months ago. After searching for a job for months, Katherine gives up her job search because she feels there are no jobs available for her. Economists would classify Katherine as:
answer
a discouraged worker.
question
Use the following table to answer the questions that follow:
According to the table, the labor force is:
answer
147 million.
