Economics Unemployment Quiz

What is the definition of unemployed people?

• People who are not working

• People who are discouraged from working

• people who are not working and are looking for work

• people who are retired or full time students

What are discouraged workers?

• people who are not working and gave up looking for work

• people who are not working

• people who are not working but are looking for work

• underemployed people

What is the labor force consists of?

• unemployed + discouraged workers

• underemployed + employed

• unemployed + employed

• underemployed + employed + discouraged workers

What type of unemployment is short term in nature?

• structural

• frictional

• cyclical

• permanent

What is unemployment when the output gap which are fluctuations in aggregate demand is zero

• natural rate of unemployment

• frictional unemployment

• structural unemployment

• artificial rate of unemployment

What type of unemployment is long term?

• structural unemployment

• frictional unemployment

• natural unemployment

• cyclical unemployment

What is happening to the economy when it reaches from a trough to a peak?

• economy is expanding

• economy is contracting

• economy is shrinking

• economy remains the same

What is happening to the economy from a peak to a trough?

• economy is expanding

• economy is contracting

• economy remains the same

• economy has exponential growth

What is the total labor force in a country if unemployed is 3 million, employed 27 million, discourage workers 5 million, and retirees 6 million?

• 35 million

• 21 million

• 30 million

• 41 million

What is the unemployment rate approximately if unemployed is 3 million and employed is 27 million and discouraged workers are 5 million?

• .11

• 8%

• 11%

• not enough information provided