Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 22, Problem 7MCQ
To determine
The relationship between the output gap, the real
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The natural rate of unemployment is the
A) unemployment rate occurring when actual and potential GDP are equal.
B) unemployment rate associated with the business cycle.
C) full employment rate of unemployment.
D) A and B
E) A and C
Which condition does the term full employment refer to?
Select one:
a.
There is only cyclical unemployment.
b.
There is no cyclical unemployment.
c.
Firms have all the workers they need.
d.
There is no frictional unemployment.
e.
Everyone able-bodied person is employed
If the number of people in the labor force is 170 million and 155 million people are employed, then the unemployment rate is __________ percent.
Chapter 22 Solutions
Foundations of Economics (8th Edition)
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Similar questions
- importance of employment and unemployment? explain both terms.arrow_forwarda.) what does unemployment mean economically and explain the types of Unemployment? b.) Explain Zero Unemployment.arrow_forwardQ)According to the data from the Bureau of Labor Statistics found here, Number of workers employed 8,400 Frictional unemployment 250 Structural unemployment 350 Cyclical unemployment 600 Discouraged workers 400 Adult population 12,000 A) The labour force a. 7,550. b. 8,000. c. 8,400. d. 9,600 B) the unemployment rate is a. 12.5 percent. b. 15 percent. c. 16 percent. d. 24 percent. C)the labor force participation rate is a. 12.5 percent. b. 25 percent. c. 60 percent. d. 80 percent.arrow_forward
- Unemployment that occurs during the normal workings of an economy as people change jobs and move across the country is called: cyclical unemployment O frictional unemployment natural unemployment structural unemploymentarrow_forwardThe type of unemployment that is associated with labor market frictions or job search is referred to as: a. cyclical unemployment b. seasonal unemployment c. frictional unemployment d. structural unemploymentarrow_forward1) As the unemployment rate rises: A) the separation rate decreases. B) the young and unskilled experience lower-than-average increases in unemployment. C) the young and skilled experience larger-than-average increases in unemployment. D) the young and unskilled experience larger-than-average increases in unemployment. E) the proportion of the unemployed finding a job increases.arrow_forward
- In the beginning of a recovery after a recession, employment begins to rise and the news media report these data on job growth. a) would such a report have an impact on the labor force ? b) how would it effect the unemployment rate?arrow_forwardno handwritten notesarrow_forwardFull employment is not considered to be zero unemployment, because there are not enough jobs for everyone who wants one. some cyclical unemployment always exists. some frictional unemployment always exists. some people do not want a job.arrow_forward
- How does the unemployment rate behave over the business cycle? The unemployment rate _______. A. remains relatively constant over the business cycle at an average of 5.7 percent B. equals 10 percent during a recession and falls to zero during an expansion C. rises during a recession and falls during an expansion D. equals 100 minus the employment-population ratio over the business cyclearrow_forwardThe estimate of the current natural rate of unemployment rate in the United States is approximately Select one: a. 0 percent. b. 0.5 percent. c. 10 percent. d. None of these.arrow_forwardQuestion 9 Category Labor force Number of people 10,000 9,000 Employed Working-age population 12,000 In the table above, the unemployment rate is 6 percent. 8 percent. 12 percent. 10 percent. 11 percent. Question 10arrow_forward
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