U5L2 HW Econ: Unemployment -

The labor force and the unemployment rate are calculated by:

• Counting only employed individuals.

• Counting both employed and unemployed individuals actively seeking work.

• Counting only unemployed individuals.

• Counting all adults regardless of employment status.

The three types of unemployment are:

• Frictional, Structural, and Cyclical

• Seasonal, Permanent, and Temporary

• Voluntary, Involuntary, and Seasonal

• Natural, Artificial, and Temporary

Why is full employment not considered to be 0% unemployment?

• Because some unemployment is always present due to frictional and structural factors.

• Because everyone is always employed at full employment.

• Because 0% unemployment is impossible in any economy.

• Because full employment means no one is looking for a job.

Unemployment is measured by:

• The number of people employed

• The number of people not in the labor force

• The number of people actively seeking work but unable to find a job

• The total population

Which of the following is NOT a requirement to be in the labor force?

• At least 16 years old

• Able and willing to work

• Not institutionalized (in jails or hospitals)

• In the military

• Not in school full time or retired

According to the table 'Civilian unemployment rate, seasonally adjusted,' which demographic had the highest unemployment rate in Feb 2024?

• Men, 20 years and over

• Women, 20 years and over

• 16 to 19 years old

• Asian

According to the table 'Civilian unemployment rate, seasonally adjusted,' fill in the blank: The unemployment rate for Asian individuals in Mar 2024 was ___

• 2.6

• 3.8

• 4.5

• 1.9

According to the table 'Civilian unemployment rate, seasonally adjusted,' what was the unemployment rate for White individuals in Oct 2024?

• 3.8

• 3.7

• 3.5

• 3.9

Your retired grandparent

• Employed

• Unemployed

• Doesn’t Count (not in the labor force)

A 16 year old student who applied for work

• Employed

• Unemployed

• Doesn’t Count (not in the labor force)