Unemployment Quiz

What is the unemployment rate?

• The percentage of people in the labor force who are working.

• The percentage of people in the labor force who want a job but are not working.

• The percentage of all citizens who are unemployed.

• The percentage of people not looking for work.

Which of the following is NOT included in the labor force?

• A 40-year-old unemployed person actively looking for work.

• A retired 65-year-old.

• A 25-year-old working full-time.

• A 30-year-old laid-off worker receiving unemployment benefits.

Which type of unemployment occurs when workers are temporarily between jobs or looking for a better job?

• Cyclical Unemployment.

• Structural Unemployment.

• Frictional Unemployment.

• Seasonal Unemployment.

What is a specific type of frictional unemployment caused by changes in the time of year?

• Structural Unemployment.

• Cyclical Unemployment.

• Technological Unemployment.

• Seasonal Unemployment.

What type of unemployment is caused by changes in the labor force that make certain skills obsolete?

• Structural Unemployment.

• Cyclical Unemployment.

• Frictional Unemployment.

• Seasonal Unemployment.

What is an example of a job affected by structural unemployment?

• Waiter.

• VCR repairman.

• College graduate looking for a first job.

• Ski instructor during the off-season.

Cyclical unemployment is caused by:

• Technological changes.

• Workers voluntarily leaving their jobs.

• Economic recessions reducing demand for goods and services.

• Job seekers taking a break before finding new jobs.

Which of the following is true about frictional and structural unemployment?

• They only exist during economic recessions.

• They exist even when the economy is healthy.

• They are both forms of cyclical unemployment.

• They only apply to unskilled workers.

The natural rate of unemployment (NRU) includes:

• Cyclical unemployment only.

• Frictional and structural unemployment.

• Seasonal unemployment only.

• Cyclical and frictional unemployment.

The U.S. economy is considered at full employment when unemployment is between:

• 0-2%.

• 3-5%.

• 4-6%.

• 7-9%.