Unemployment and GDP Worksheet

What type of unemployment occurs when workers are laid off due to a drop in demand during a recession?

• Structural

• Cyclical

• Frictional

• Seasonal

Frictional unemployment includes people who:

• Are replaced by robots

• Just entered the workforce or are between jobs

• Lost jobs due to a downturn

• Work part-time

Seasonal unemployment is caused by:

• Technological change

• Workers moving states

• Jobs tied to specific times of year

• Company bankruptcy

When machines replace workers, it's called:

• Seasonal unemployment

• Cyclical unemployment

• Technological unemployment

• Structural unemployment

A person jobless for more than 27 weeks is considered:

• Seasonally unemployed

• Frictionally unemployed

• Underemployed

• Long-term unemployed

GDP measures:

• Total government revenue

• Total value of goods and services produced

• National debt

• Amount spent on imports

Intermediate products are:

• Counted twice in GDP

• Counted only if sold separately

• Not counted in GDP

• Tax-free goods

Which of the following is not included in GDP?

(a)  

The underground economy includes:

• Government contractors

• Employees with union jobs

• Unreported economic activity

• Agriculture workers

A recession is defined as:

• Two years of low employment

• A rise in unemployment for one month

• A decline in economic activity lasting at least six months

• Falling inflation rates