Unemployment

Match the following phases with their correct position in the U.S. business cycle.

• Phase following a trough

• Recovery/Expansion

• Phase characterized by little to no growth

• Stagnation

• Phase following a recovery/expansion

• Peak

• Phase before a trough

• Contraction/Recession

What is the minimum age mentioned for adult civilians to be considered employed? (a)  

• 18 years old

• 16 years old

• 21 years old

• 30 years old

Answer explanation

The minimum age mentioned for adult civilians to be considered employed is 16 years old, as stated in the answer choices.

Match the following employment statuses with the correct description of whether they are considered part of the employed workforce.

• Individuals who have ended their working or professional career

• Retired individuals

• Individuals working 40 hours a week or more

• Full-time workers

• Individuals working less than 40 hours a week

• Business owners

• Individuals owning and operating their own business

• Part-time workers

Match the following causes with their types of unemployment.

• Cyclical unemployment

• Machines replacing workers

• Structural unemployment

• Short-term fluctuations in the economy

• Seasonal unemployment

• Increase in the minimum wage

• Frictional unemployment

• weather, holidays, tourism cycles

What is considered the natural rate of unemployment that indicates a normal/healthy economy in the United States?

• 2 to 3 percent

• 5 to 6 percent

• 7 to 8 percent

• 4 to 5 percent

Answer explanation

The natural rate of unemployment that indicates a normal/healthy economy in the United States is considered to be 5 to 6 percent, as per economic indicators.

Match the following descriptions with the correct status regarding eligibility for unemployment insurance.

• Eligible for unemployment insurance due to involuntary job loss

• People who are laid off due to company downsizing

• Eligibility for unemployment insurance not determined by duration of unemployment alone

• People who have been unemployed for less than a month

• Ineligible for unemployment insurance as they are currently employed

• People who quit their job without a valid reason

• Ineligible for unemployment insurance due to voluntary job resignation without valid cause

• People who are currently employed but looking for a new job

A person who is laid-off (a)   ​

• is considered part of the labor force
• Is not considered part of hte labor force

A person who has never worked but is seeking employment (a)   ​

• is considered part of the labor force
• Is not considered part of hte labor force

Jailed Person or other "institution (a)   ​

• Is not considered part of hte labor force
• is considered part of the labor force

A person who has lost their job and is currently looking for work (a)   ​

• is not considered part of the labor force
• is considered part of the labor force