Econ dev midterm exam

There are jobs available in Javier’s town; however, none of the jobs are a good match for his skills and experience. This is an example of __________ unemployment.

• seasonal

• structural

• frictional

• technological

The poor economy is causing consumer demand and spending to go down. As a result, companies aren’t hiring. This is called __________ unemployment.

• classical

• structural

• frictional

• cyclical

Which of the following best defines unemployment?

• The state of being able to work and actively seeking work, but unable to find employment

• The state of being able to work, but choosing not to

• The percentage of the labour force that is able and actively seeking work, but cannot find employment

• The total number of people who do not work

a woman who lost her job due to a decrease in sales during a recession in the economy is...

• frictionally unemployed

• structurally unemployed

• technologically unemployed

• cyclically unemployed

• seasonally unemployed

a student who just graduated from college and is waiting to start their new job is...

• frictionally unemployed

• structurally unemployed

• technologically unemployed

• cyclically unemployed

• seasonally unemployed

Cyclical unemployment

• Describes recent college graduates

• Lasts longer than 6 months

• Describes employees moving from one job to another

• Increases inflation Increases inflation

Which of these is NOT a characteristic of an unemployed person?

• He/she does not work

• He/she has made specific efforts to find a job

• He/she is laid off from a job in the succeeding months

• He/she is undergoing a career change

The unemployment rate will drop if

• A person is hired into a new job

• Someone who was previously laid off is rehired

• An unemployed person stops looking

• ALL of these answers are CORRECT

Discouraged workers in

the economy implies that the measurement of unemployment...

• understates the true unemployment rate

• overstates the true unemployment rate

• correctly measures the true unemployment rate

• doubles the unemployment rate

If operators are fired and replaced with computer technology, the operators would be considered

• frictionally unemployed

• structurally unemployed

• cyclically unemployed

• dissatisfiededly unemployed dissatisfiededly unemployed