Econ- 5.2 Part 1 Formative Assessment Option 2

Click on each of the options given to which the individual in the scenario below belongs:

Scenario: Tom is a 65-year-old retired individual.

• TOTAL NON-INSTITUTIONAL CIVILIAN POPULATION

• LABOR FORCE

• EMPLOYED

• UNEMPLOYED

True or False: The 1 way a person can be considered employed is if they person who worked without pay for 15 hours or more per week in a business.

• True

• False

Alex is a 19-year-old full-time college student who does not have a job and is not looking for one. Should Alex be considered in the labor force?

• Yes, he is employed

• Yes, he is unemployed

• No, he is not in the labor force

• No, he is retired

Which group- Underemployed or Discouraged Workers are actually NOT in the labor force?

Your Response: _______

Structural and ​ (a)   Unemployment are occurring at ​ (b)   but ​ (c)   Unemployment is not.

• Frictional
• Full Employment Level of Undemployment
• Cyclical
• Discouraged Worker
• Underemployment

What is the Full Employment Rate (Unemployment Goal Rate) for the US?

• 2%

• 3%

• 4%

• 5%

Structural Unemployment is most often caused by __________ advances in an industry.

Frictional Unemployment is typically a __________-term type of unemployment

Alex is a recent college graduate who is actively searching for a job in his field of study. He has been unemployed for two months. What type of unemployment is Alex experiencing?

• • Cyclical

• • Frictional

• • Structural

• • Seasonal

Due to technological advancements, many factory workers have lost their jobs as robots are replacing human labor. What type of unemployment do these factory workers experience?

• • Cyclical

• • Frictional

• • Structural

• The factory workers are NOT unemployed in theis situation.