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Take Test: chapter 12 quiz

Question 1:

Whom does the Bureau of Labor Statistics include in the “discouraged workers” group?

a) All those between 16 and 65 who are neither disabled nor in an institution and are also neither employed nor seeking employment.
b) Civilian labor force members who have chosen early retirement because they dislike their work or think the pay is too low.
c) Members of the noninstitutional population who say they want to be employed but aren’t searching for a job.
d) Members of the civilian labor force who are looking for a job but cannot find one.
e) Anyone in the population who is not working.

Question 2:

Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of:

a) frictional unemployment.
b) cyclical unemployment.
c) structural unemployment.
d) involuntary unemployment.

Question 3:

Frictional unemployment refers to:

a) people who are out of work and have no job skills.
b) short periods of unemployment needed to match jobs and job seekers.
c) people who spend relatively long periods out of work.
d) unemployment related to the ups and downs of the business cycle.

Question 4:

Workers who may be between jobs are considered:

a) frictionally unemployed.
b) structurally unemployed.
c) cyclically unemployed.
d) unemployable.
e) discouraged workers.

Question 5:

The GDP gap is the difference between:

a) full-employment real GDP and real GDP chain price index.
b) unemployment rate and real GDP chain price index.
c) actual real GDP and full-employment real GDP.
d) frictional unemployment and actual real GDP.

Question 6:

As a general rule, a recession occurs when there is a six consecutive month fall in:

a) nominal GDP.
b) real GDP.
c) the price level.
d) the trade balance.

Question 7:

Exhibit 12-2 Unemployment categories

Category# of Individuals
Frictional unemployment20
Structural unemployment35
Cyclical unemployment60
Discouraged workers5
Underemployed workers10
Fully employed workers410

The unemployment rate for the economy in Exhibit 12-2 is:

a) 28 percent.
b) 30.5 percent.
c) 31.7 percent.
d) 12.8 percent.
e) 21.5 percent.

Question 8:

A decrease in aggregate demand and the subsequent cutbacks in production lead to:

a) frictional unemployment.
b) cyclical unemployment.
c) cost-push unemployment.
d) structural unemployment.
e) transitory unemployment.

Question 9:

The presence of discouraged workers may cause:

a) the employment rate to be overstated.
b) the employment rate to be understated.
c) the unemployment rate to be overstated.
d) the unemployment rate to be understated.
e) GDP to be too large.

Question 10:

The unemployment rate is the percentage of the:

a) civilian labor force that is unemployed or working part-time.
b) civilian labor force that is unemployed.
c) civilian labor force that is unemployed less the number of government workers.
d) adult population that is unemployed.
e) adult population that is unemployed or looking for a better job.

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