Unemployment

What is the formula of unemployment rate???

• =(labor force/unemployed)*100%

• =(GDP*labor force)/100%

• =(unemployed/labor force)*100%

• none of them

In which type of unemployment do workers find it hard to obtain new jobs without retraining, gaining additional education, or relocating?

• cyclical

• frictional

• structural

• all of them

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

• frictionally unemployed

• structurally unemployed

• cyclically unemployed

• dissatisfied but employed

The unemployment rate is the ratio of

• unemployed to labor force

• employed to labor force

• seeking employment to labor force

• dissatisfied to labor force

Seasonal unemployment

• Describes recent college graduates

• Is predictable

• Is a result of changes in technology

• Slows the economy Slows the economy

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

Which of these people is officially unemployed?

• A secretary who took 6 months off for maternity leave

• An aspiring actress who waits tables but would rather act

• Maid who got fired and will start a new job in 2 weeks

• A student who only works 4 hours a week in the library

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

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

When individuals lose jobs due to a decline in the economy, often during an economic recession.

• Structural Unemployment

• Cyclical Unemployment

• Frictional Unemployment

• Seasonal Unemployment