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Which of the following is true of unemployment?

a. The result is that the economy operates inside its production possibilities curve.

b. There are psychological consequences associated with unemployment.

c. All of these.

d. It is defined as the number of people actively looking for work who do not have jobs.

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Related questions

Imagine a hypothetical economy with a population of 100 people, 80 of which over sixteen. Forty-eight of these people who are working and twelve people who are willing, able, and looking for work, cannot find jobs. What is the unemployment rate in this economy?

Suppose that 10 of those unemployed people get discouraged and give up looking for work. What is the unemployment rate in this economy? (enter percentage as a whole number, not a decimal, no percentage sign).

Hi! I'm working on the following problem and would like some help.

Population: 200,000,000

Number of people working one job: 80,000,000

Number of people working two jobs: 12,000,000

Number of people working less than full-time but who would prefer full-time work: 5,000,000

Number of people working part-time and content with hours they have: 4,000,000

Number of people not working but actively seeking work: 9,000,000

Number of discouraged workers: 500,000

1. What is the unemployment rate in this economy?

2. What is the participation rate in this economy?

3. Is this economy in a recession?

Question 1 A recession occurs when there is a six consecutive month fall in Question 1 options:

A) real GDP.

B) nominal GDP.

C) the trade balance.

D) the price level.

Question 2 Since 1929, real GDP in the United States has grown at an average annual rate of about Question 2 options:

A) 0.5 percent.

B) 1 percent.

C) 3 percent.

D) 7.5 percent.

Question 3 Suppose that after reading a two-year low, the index of leading economic indicators rises for several months. Which of the following economic events will likely follow? Question 3 options:

A) A recession.

B) Severe inflation.

C) Increased production.

D) Reduced investment.

Question 4 Which of the following people would be officially counted as unemployed? Question 4 options:

A) A person who works only 5 hours per week for pay.

B) A full-time college student who chooses not to have a paying job.

C) A family member who works 20 hours per week in the family business without pay.

D) A jobless high-school graduate who is actively looking for work.

Question 5 Assume a country's population (age 16 and over) is 1 million people. What is the unemployment rate if there are 750,000 people in the labor force, 60,000 of whom are unemployed? Question 5 options:

A) 6%.

B) 8%.

C) 12.5%

D) 16.7%

Question 6 If a sizable number of workers were switched from full-time to half time employment, then the official unemployment rate would Question 6 options:

A) rise.

B) fall.

C) remain unchanged.

D) react unpredictably.

Question 7 Which of the following people would be classified as structurally unemployed? Question 7 options:

A) Computer programmers who lost their jobs because of a recession.

B) Construction workers who are on temporary layoff.

C) Discouraged workers who have given up looking for work.

D) Textile workers who lost their jobs because of new foreign competition.

Question 8 The economy is fully employed when there is no :

A) seasonal unemployment.

B) frictional unemployment.

C) structrual unemployment.

D) cyclical unemployment.

Question 9 The GDP gap measures the nation's monetary losses of real goods and services from :

A) operating at less than full employment.

B) discouraged workers who have stopped searching for employment. C) murders, suicides, and other sociological impacts of sustained unemployment.

D) seasonal and frictional unemployment.

Question 10 In the United States, the unemployment rate for blacks is :

A) roughly the same as the unemployment rate for whites.

B) about 1รขย€ย“2 percentage points higher than the unemployment rate for whites.
C) more than twice the unemployment rate for whites.

D) between 3 and 4 times the unemployment rate for whites.

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