If the economy is at full employment, thenSelect one:O A. the unemployment rate is less than 3 percent.O B. all unemployment arises from normal frictions and structural change.O C.the entire population is employed.OD.the entire labour force is employed.O E. the only unemployment is frictional unemployment plus discouraged workers.

Full employment is a situation where all those who are willing and able to work get work without any…

If the economy is at full employment, then Select one: O A. the unemployment rate is less than 3 percent. O B. all unemployment arises from normal frictions and structural change. C. the entire population is employed. O D. the entire labour force is employed. O E. the only unemployment is frictional unemployment plus discouraged workers.

If the economy is at full employment, then Select one: O A. the unemployment rate is less than 3 percent. O B. all unemployment arises from normal frictions and structural change. C. the entire population is employed. O D. the entire labour force is employed. O E. the only unemployment is frictional unemployment plus discouraged workers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: K The amount of frictional unemployment depends on OA. the phase of the business cycle. OB. the time…

A: Frictional unemployment refers to the temporary unemployment that arises as workers move between…

Q: Which of the following statements are true? Select one or more: O a. Someone is counted as…

A: Business cycle is the cyclical fluctuation in the GDP of the country around its potential growth…

Q: Suppose the working-age population is 50 million, the labour force is 20... Suppose the working-age…

A: The objective of the question is to calculate the number of unemployed people given the working-age…

Q: Which of the following is a limitation of the unemployment rate? O a. It does not account for…

A: Option (d) that is Both (a) and (b) is the limitation of the unemployment rate that is, (a) It…

Q: At full employment, there is no Select one: O A. unemployment. O B. structural unemployment. O C.…

A: Unemployment refers to the circumstance in which people who are ready and able to work are unable to…

Q: QUESTION 13 Use the following figure to answer this question Per cent 1960 1965 fred.stlouisfed.org…

A: Full Employment: Economy is at its full employment when natural rate of unemployment is equal to…

Q: People who report being unemployed but who, in fact, are not trying to find a job are really not in…

Q: Satchel loses his job and immediately begins looking for another. Other things the same, the…

A: Labor Force consists of both employed and unemployed people. Labor Force Participation Rate…

Q: Scenario: Consider Country A with a population of 2 million people. In Country A, there are 1.5…

Q: Suppose that 22 million people are employed, 2 million people are unemployed, and 44 million people…

A: Number of employed people = 22 millionNumber of unemployed people = 2 millionNumber of people are 15…

Q: If you decided to leave your job this October to study for your midterm exams. How would economists…

A: The issue introduced is the economic classification of unemployment status. You've chosen to find…

Q: 7. With the information provided, determine the unemployment rate for each of these hypothetical…

A: To determine the unemployment rate for each of the hypothetical economies, we can use the following…

Q: Which of these statements is NOT correct? Select one: a. During the periods of economic expansions…

A: In case of economic boom the economy expands and hence economic activities rises due to which both…

Q: Full employment refers to a situation in which there exists. O a. An unemployment rate of zero. O b.…

A: Full employment refers to the situation when all the labor resources in the economy are being fully…

Q: Economics..

A: The workforce or labour force is a concept referring to the pool of human beings either in…

Q: Which of the following is an example of cyclical unemployment? OA. Workers at ski resorts in…

A: Cyclical unemployment is a type of unemployment that occurs as a result of business cycle changes.…

Q: What does the relationship between the unemployment rate and the natural unemployment rate tell us…

A: Unemployment rate is the percentage of the labor force that is unemployed.

Q: In 2021, WSJ reported that in September of that year, 4.4 million workers quit their jobs, primarily…

A: Unemployment refers to the situation when a person is able and willing to work but is unable to get…

Q: Which of the following statements are true? Select one or more: O a. Someone is counted as…

A: Unemployment means when people who are willing and able to work are not able to find a job.

Q: Select one: O a. It is impossible to say anything about cyclical unemployment without actual…

A: Cyclical unemployment is a type of unemployment that occurs due to fluctuations in the business…

Question

If the economy is at full employment, then
Select one:
O A. the unemployment rate is less than 3 percent.
O B. all unemployment arises from normal frictions and structural change.
O C.
the entire population is employed.
OD.
the entire labour force is employed.
O E. the only unemployment is frictional unemployment plus discouraged workers.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Defining meaning of full employment

VIEW

Step 2: Choosing the correct and incorrect option with explanation

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

How does unemployment in the industrialized world compare with unemployment in the United States? O A. Japan has a higher average unemployment rate than the United States and the Eurozone. O B. The Eurozone has a higher average unemployment rate than the United States. C. The Eurozone unemployment rate tends to rise when the U.S. unemployment rate falls, and tends to fall when the U.S. unemployment rate rises. D. The difference between the unemployment rates of the Eurozone and the United States decreased following the 2008-2009 recession. Click to select your answer. DII 80 000 000 F8 F7 F6 F5 F4 F3 F2 F1 * & % 7
Answer the attached question
Unemployment that occurs from fundamental technological changes in the production, or from the substitution of new goods for traditional ones, is known as: structural unemployment. O frictional unemployment. O underemployment. O cyclical unemployment.
Assume a country has a total population of 58 million, of which 70 per cent are part of the working-age population. 23.7 million working-age people are not looking for a job, and 13.6 million are employed. What are the labour force participation rate (LFPR) and the unemployment rate (u)? O a. LFPR = 59.4%; u = 19.5% Ob. LFPR 41.6%:u-19.5% OC.LFPR = 41.6%; u = 32.8% O d. LFPR = 59.4%; u = 32.8%
When the economy is at full employment, which types of unemployment remain? A. frictional and cyclical B. frictional and structural C. cyclical and structural D. None of the above. Full employment means that there is no unemployment, so the unemployment rate would be zero. The "normal" underlying level of unemployment in the economy is O A. the sum of structural unemployment and frictional unemployment. B. the natural rate of unemployment. C. the full-employment rate of unemployment. O D. All of the above.
In the United States over the last 50 years, O A. both women's and men's labor force participation rates have increased due to technology. O B. the change in men's labor force participation rate explains the behavior of the unemployment rate. O C. women's earning power has remained fairly constant. O D. the labor force participation rate for women has increased to match that for women in other developed countries. O E. the labor force participation rate for women has increased to about 60 percent. Click to select your answer.
QUESTION 5 A worker who loses a job at a call center because the company moved the call center operations to another country is an example of O a. frictional unemployment. O b. structural unemployment. Oc. cyclical unemployment. O d. disguised unemployment.
How does cyclical unemployment change between a business cycle trough and a business cycle peak? At a business cycle trough, cyclical unemployment is and at a business cycle peak, cyclical unemployment is O A. positive; negative B. high; zero C. zero; low O D. negative; positive
Which of the following statements are true? Select one or more: O a. Someone is counted as unemployed if they do not have a job. O b. The participation rate is the (employed/labour force) x 100. Oc. The unemployment rate is (unemployed/labour force) x 100. O d. The unemployment rate is (unemployed/population of working age) x 100. F
during expansions. The rate of unemployment tends to during recessions and During prolonged recessions, it is difficult for workers to find a job and many workers become discouraged. Which of the following is a correct statement? O A. Discouraged workers are counted in the labor force and cause the participation rate to fall. B. Discouraged workers are counted in the labor force and cause the participation rate to rise. C. Discouraged workers are not counted in the labor force and cause the participation rate to fall. OD. Discouraged workers are not counted in the labor force and cause the participation rate to rise.
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 million
Which of the following statements are FALSE, all else being equal? Choose TWO The better the unemployment benefits, the lower the natural rate of unemployment. The higher unemployment rate in Europe is due to their weaker labour unions. If the technology of job search improves, the natural rate of unemployment decreases. O If there is an influx of large number of working-age migrants, the natural rate of unemployment increases.