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- A. only if that person has worked full time over the previous week. B. if that person holds either a part-time or full-time paid job. OC. if that person holds a paid job or may not be working but has looked for work in the previous week O D. when a person has worked at the same job for one year continuously Potential workers are classified as being unemployed when O A. they want a full-time job and instead have a part-time job or are not working at all. O B. they do not have a paid job, have looked for work in the previous 4 weeks and aro available for work O C. they do not have a paid job, have looked for work in the previous 4 months and are available for work O D. they do not have a paid job and are currently not available for work The equation for the unemployment rate is defined as O A Unemployed 100% x Potential workers OB. Unemployed 100% x Labor force Employed 100% x Potential workers O D Employed 100% x Labor force O O O OWhich of the following hypothetical policy changes could lower the official unemployment rate in the Philippines? (i) Increasing the mandatory retirement age in the private sector from 60 to 65 years old (ii) Increasing the years of basic education from 12 years to 13 years (iii) Expanding unemployment benefits provided by the Social Security System in terms of period of eligibility and amount O a. Only (ii) O b. Only (i) and (ii) O c. O d. Only (i) Only (iii)If the number of unemployed equals 240,000 and the number of employed equals 300,000, the labor-force participation rate a. is 24%. is 80%. cannot be determined from this information. O b. O d. is 55.6%.
- An economy has 95 million people employed and an unemployment rate of 5 percent. There are 1.5 million marginally attached workers and 0.5 million of the marginally attached workers are discouraged. How many people are unemployed? 3 tries left The number unemployed is O A. A. 5.5 million B. 7.5 million O c. C. 5.0 million O D. 6.5 millionWho is not included in the labor force by the Bureau of Labor Statistics? Calvin, who is on temporary layoff a. b. Michael, who has retired and is not looking for work Lauren, who does not have a job, but has applied for several in the last week C. d. None of the above is correct. Select one: O dBecause the minimum wage is not indexed to inflation, when there is inflation thenominal minimum wage. and the real minimum wage. A. remains constant; remains constant B. None of the above OC. increases; decreases D. remains constant; decreases OE. decreases; remains constant
- Given labour market equilibrium with identical workers, as set out in CORE Select one or more: O a. Unemployment is always voluntary b. Workers who are involuntarily unemployed cannot gain a job at any wage O c. A Nash equilibrium exists O d. Measured unemployment will be zeroThe labor force in your country consists of 225 million people. Of these, 205 million have jobs. What is the unemployment rate in your country? Select one: a. 6.9% O b. 12.3% O c. 8.9% O d. 10% CheckIf the labor market flow Pue is found to equal 0.32 for a particular month, this means that a) 32 percent of the total adult population flowed from unemployment to employment during the month. b) 32 percent of the total labor force flowed from unemployment to employment during the month. c) 32 percent of those who were initially unemployed became employed during the month. O d) 32 percent of those who were initially employed became unemployed during the month.
- When does the amount of job-search unemployment increase? The amount of job-search unemployment increases when O A. the efficiency wage rate rises B. a demographic shock decreases the rate of entry into the working-age population O C. a prolonged structural slump occurs D. unemployment compensation decreases O Orefer to the following diagram. Suppose that all other nonwage aspects of the jobs in fhese two markets are identical. We would expect labor supply in B to increase if there are better prospects for advancement in A True of False. ExplainMatt loses his job as a solar panel installer and cannot find another position with equivalent pay and benefits. As a result, he is still According to economists, which term best describes Matt? a. under employed O b. a discouraged worker O c. unemployed Od out of the labour force