Unemployment and Labor Force Flashcard

Front

How is the unemployment rate calculated?

Back

The number of unemployed people divided by the total labor force.

Front

Which of the following is included in the labor force? Full-time students, Retired individuals, Part-time workers, People who have stopped looking for work

Back

Part-time workers

Front

If the labor force is 200 million and 20 million people are unemployed, what is the unemployment rate?

Back

10%

Front

Which of the following describes frictional unemployment? Options: Job loss due to changes in technology or skills mismatch., Temporary unemployment during transitions between jobs., Unemployment due to seasonal fluctuations in demand., Job loss caused by an economic downturn.

Back

Temporary unemployment during transitions between jobs.

Front

Structural unemployment occurs when:

Back

There is a mismatch between workers’ skills and available jobs.

Front

Which of the following is an example of seasonal unemployment? A factory worker losing their job due to automation. A teacher being out of work during summer vacation. A ski instructor losing their job in the summer. A construction worker laid off due to economic recession.

Back

A ski instructor losing their job in the summer.

Front

Cyclical unemployment is caused by:

Back

A downturn in economic activity or recession.

Front

Why might the unemployment rate underestimate the true level of unemployment?

Back

It excludes discouraged workers and underemployed individuals.

Front

Which group is most likely to be classified as discouraged workers? Options: Workers who are between jobs and actively looking. Individuals who have stopped searching for work due to lack of opportunities. Part-time workers looking for full-time employment. Retirees who occasionally look for work.

Back

Individuals who have stopped searching for work due to lack of opportunities.

Front

Which of the following is NOT a type of unemployment? Frictional unemployment, Structural unemployment, Cyclical unemployment, Regional unemployment

Back

Regional unemployment