Unemployment Review

A (a)   worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working.

Which type of unemployment exists in any economy due to people being in the process of moving from one job to another?

• Cyclical unemployment

• Frictional unemployment

• Seasonal unemployment

• Structural unemployment

You worked for a company that makes music CDs. With the increase in consumers downloading music, your company has filed bankruptcy. You are out of a job. Which type of unemployment is this scenario?

• Seasonal

• Cyclical

• Structural

• Frictional

(a)   unemployment is overall unemployment that relates to the trends in growth and production that occur within the business cycle.

When people are unemployed at certain times of the year, because they work in industries where they are not needed all year round, they experience....

• Cyclical unemployment

• Seasonal unemployment

• Structural unemployment

• Frictional unemployment

If the number of people unemployed is 6 million and there are 150.5 million in the civilian labor force, what is the unemployment rate? Include the percentage sign in answer.

(a)  

If a worker is considered to be underemployed, they are _______________ for the position they currently hold.

• underqualified

• ineligible

• qualified

• overqualified

Economists consider an unemployment rate between _____ and _______ percent normal for a healthy economy.

• 4 and 6

• 4 and 5

• 2 and 6

• 8 and 10

When an economy uses all of its labor resources in the most efficient way possible, it has achieved_______________.

• structural unemployment

• minimal unemployment

• full employment

• classical employment

Mr. Ulrich is a twenty six year old teacher who quit his job so he could go to graduate school.

• Unemployed

• Structurally unemployed

• Employed

• Not a part of the labor force