1) The working-age population includes 1) _______
A) employed and unemployed people over the age of 16.
B) only employed people over the age of 16.
C) those in jails and hospitals.
D) people over the age of 16 who are in the Army.
E) youngsters between the ages of 14 and 16 if they are working at least part time.
2) Which of the following is true? 2) _______
A) To be classified as employed, you must work at least 20 hours per week at a paid job.
B) To be classified as employed, you must be a full-time worker at a paid job.
C) To be classified as employed, you must work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business.
D) If you are not working and turn down a job offer in the previous week, you are no longer classified as unemployed.
E) Part-time workers are all those who work less than 40 hours per week.
3) To be considered unemployed, a worker must have had 3) _______
A) no employment during the week before the survey and be actively looking for a job.
B) part-time employment while actively looking for a full-time job.
C) no employment during the day before the survey and be actively looking for a job.
D) no employment during the week before the survey and be actively looking for a job while a student.
E) Both answers A and B are correct.
4) The working-age population consists of all the people in the population _______
A) aged 16 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces.
B) who are employed plus the unemployed people.
C) aged 16 and over.
D) aged 21 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces.
E) aged 16 to 65.
5) The labor force is the
A) total population divided by the number of employed people.
B) working-age population minus the number of unemployed people.
C) number of employed people plus the number of unemployed people.
D) number of employed people in the working-age population.
E) number of employed people minus the number of unemployed people.
6) If Jose is 22-years old, is available to work but does not have a job and made no specific efforts to find a job for the previous month, Jose is classified in the Current Population Survey as
A) not in the labor force.
B) unemployed.
C) not in the working-age population.
D) in the labor force but not in the working-age population.
E) employed.
7) Assume the U.S. population is 300 million. If 200 million people are of working age, 125 million are employed, and 15 million are unemployed, what is the size of the labor force?
A) 215 million
B) 175 million
C) 140 million
D) 200 million
E) 125 million
8) The unemployment rate measures the percentage of
A) the working-age population who can't find a job.
B) people who want full-time jobs, but can't find them.
C) employed people who can't find a job.
D) the working-age population that can't find a full-time job.
E) people in the labor force who can't find a job.
9) Suppose the population is 300 million people, the labor force is 200 million people, the number of people employed is 185 million, and the working-age population is 170 million people. What is the unemployment rate?
A) 7.5 percent
B) 92.5 percent
C) 5 percent
D) 20 percent
E) 8.8 percent
10) Using the table above, the working-age population is
A) 170 million.
B) 250 million.
C) 155 million.
D) 195 million.
E) 220 million.
11) Using the table above, the unemployment rate is
A) 6.45 percent.
B) 5.88 percent.
C) 5.71 percent.
D) 5.13 percent.
E) 6.90 percent.
12) In the table above, the number of unemployed people is
A) 11,000. B) 3,000. C) 2,000. D) 1,100. E) 1,000.
13) Based on the above table, the unemployment rate is
A) 5.4 percent.
B) 11.1 percent
C) 7.1 percent.
D) 10 percent.
E) 8.6 percent.
14) Based on the above table, the labor force participation rate is
A) 64.3 percent.
B) 71.4 percent.
C) 82 percent.
D) 75 percent.
E) 53.6 percent.
15) The labor force participation rate is equal to
A) (number of employed workers ÷ labor force) × 100.
B) (labor force ÷ population) × 100.
C) (number of employed workers ÷ working-age population) × 100.
D) (number of employed workers ÷ population) × 100.
E) (labor force ÷ working-age population) × 100.
16) Suppose the U.S. population is 275 million. If 210 million people are of working age, 135 million are employed, and 6 million are unemployed, what is the labor force participation rate?
A) 67 percent B) 76 percent C) 64 percent D) 51 percent E) 49 percent
17) Beth has just quit her job, moved to a new city, and is looking for a new job. Beth is
A) cyclically unemployed.
B) locationally unemployed.
C) structurally unemployed.
D) distance unemployed.
E) frictionally unemployed.
18) Structural unemployment is the result of
A) changing weather patterns through the year.
B) a slowdown in the rate of economic expansion.
C) technological change or foreign competition.
D) irresponsible workers with poor work habits.
E) normal labor market turnover.
19) Structural unemployment usually lasts ________ period of time ________ unemployment
A) a shorter; than frictional
B) a longer ; than frictional
C) the same; as cyclical
D) a shorter; than seasonal
E) a shorter; than cyclical
20) The unemployment that fluctuates over the business cycle is called
A) cyclical unemployment.
B) structural unemployment.
C) full unemployment.
D) frictional unemployment.
E) natural unemployment.
21) Cyclical unemployment is
A) always greater than the total of structural and frictional unemployment.
B) part of frictional unemployment.
C) the total of structural and frictional unemployment.
D) created by a recession.
E) higher when the economy is expanding.