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WorksheetsUnemployment in India
Total questions: 102
Worksheet time: 58mins
If an economy is at its Natural Rate of Unemployment...
Only Cyclical Unemployment would be present
There would be no frictional unemployment
Only frictional and structural unemployment would be present
Everyone is working Everyone is working
A labor force of 20 million people has 18.5 million people employed. Find the unemployment rate.
10%
8.5%
7.5%
6%
Discouraged workers in
the economy implies that the measurement of unemployment...
understates the true unemployment rate
overstates the true unemployment rate
correctly measures the true unemployment rate
doubles the unemployment rate
If operators are fired and replaced with computer technology, the operators would be considered
frictionally unemployed
structurally unemployed
cyclically unemployed
dissatisfiededly unemployed dissatisfiededly unemployed
Which of the following statements is true of an economy at its "natural
rate of unemployment"?
Everyone who wants to work is working
The economy is producing at its potential
The economy is only experiencing cyclical unemployment
The economy is producing beyond the PPF The economy is producing beyond the PPF
If actual GDP is less than potential GDP...
Actual unemployment exceeds the natural unemployment rate
Actual unemployment rate is less than the natural rate
No cyclical unemployment is present
Hyperinflation is present Hyperinflation is present
Cyclical unemployment
Describes recent college graduates
Lasts longer than 6 months
Describes employees moving from one job to another
Increases inflation Increases inflation
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
The natural rate of unemployment is equal to
frictional plus cyclical
cyclical plus structural
frictional plus seasonal
structural plus frictional
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
What is the unemployment????
decisions to work based on each individuals' valuation of their own work
proportion of younger workers in the labor force
the situation of actively looking for employment but not being currently employed.
person who is simultaneously an income earner,
What is the formula of unemployment rate???
=(labor force/unemployed)*100%
=(GDP*labor force)/100%
=(unemployed/labor force)*100%
none of them
How many general types of unemployement in economy?
How many general types of unemployement in economy?
Which is not the type of unemployment?
frictional
functional
cyclical
structural
Which type of unemployment consisting of search unemployment and wait unemployment ( for workers who are either searching for jobs or waiting to take jobs in the near future)???
frictional
cyclical
functional
structural
In which type of unemployment workers find it hard to obtain new jobs without retraining, gaining additional education, or relocating??
cyclical
frictional
structural
all of them
What is the natural rate of unemployment (NRU)?
is defined as the percentage of unemployed workers in the total labor force
is defined an economy if there were no cyclical unemployment. In other words, it's frictional unemployment plus structural unemployment.
refers to an overall increase in the Consumer Price Index (CPI),
none of them
Who is the Arthur Okun???
identifyed the relationship between the unemployment rate and the inflation
gave definition for cyclical unemployment
got Nobel Prize in math
the first who quantify the relationship between the unemployment rate and the GDP gap
What Okun’s law indicate?
Inflation reduces the “purchasing power” of money
for each 1 percentage point of unemployment above the natural rate, economy suffers a 2 percent decline in real GDP below its potential GDP
demand for labor also changes over time.
none of them
A snow ski instructor is considered
seasonally unemployed in the summer
especially talented if she can get that ski boat back up the hill
frictionally unemployed
structurally unemployed when he feels discouraged
What is the correct formula for calculating the unemployment rate in the US?
#unemployed/labor force x100
#labor force/working age population x100
#unemployed/#employed x100
#labor force/60,000 (BLS household survey
"Okun's Law"
informs us that there is a connection between unemployment and lost GDP.
is a hard and fast rule that for every 1% increase in GDP, there is a 2.5% decrease in employment.
is a hard and fast rule that for every 1% increase in unemployment, there is a 2.5% decrease in GDP.
informs us that there is an increase in inflation whenever there is a decrease in employment.
Professor Doty feels that although it is not the largest form of unemployment, it is the most serious because it is not self-correcting. Which is it?
structural unemployment
frictional unemployment
cyclical unemployment
seasonal unemployment
We had a guest speaker in class today, which best represents your evaluation
I would be interested in taking a class from her in my field of interest.
I would be interested in taking a class from her as an elective.
I would not be interested in taking a class from her but I thought she did a good job.
I would not be interested in taking a class from her.
Which of the following best defines unemployment?
The state of being able to work and actively seeking work, but unable to find employment
The state of being able to work, but choosing not to
The percentage of the labour force that is able and actively seeking work, but cannot find employment
The total number of people who do not work
Which of the following are criticisms of unemployment rate statistics?
The underemployed are counted as being employed
Discouraged workers (who give up searching for employment) are not counted as part of the labour force
Survey inaccuracies
It provides information about the relative health of the economy
If an economy is operating at its full employment level of output, labour markets have ___________, and the aggregate demand for labour __________ the aggregate supply of labour.
Overheated, is greater than
Overheated, equals
Reached an equilibrium, equals
Reached an equilibrium, is smaller than
What is the formula of unemployment rate???
=(labor force/unemployed)*100%
=(GDP*labor force)/100%
=(unemployed/labor force)*100%
none of them
What is the natural rate of unemployment (NRU)?
is defined as the percentage of unemployed workers in the total labor force
is defined an economy if there were no cyclical unemployment. In other words, it's frictional unemployment plus structural unemployment.
refers to an overall increase in the Consumer Price Index (CPI),
none of them
When individuals lose jobs due to fall in aggregate demand, often during an economic recession.
Structural Unemployment
Cyclical Unemployment
Frictional Unemployment
Seasonal Unemployment
If auto workers lose their jobs as the industry becomes far more technically intensive and capital intensive, what form of unemployment occurs?
Cyclical
Seasonal
Frictional
Structural
Which of the following is applicable to the economic concept of unemployment
It is a stock concept
The unemployed are those not in work but are actively seeking work
The number of unemployed is measured at a point in time
The labour force excludes those who are considered to be inactive
Identify the correct definition of the unemployment rate
The number of those in work as a percentage of the population of working age people
The number of those unemployed as a percentage of the population of working age people
The number of those unemployed as a percentage of the labour force
The number of those not in work and unemployed as a percentage of the population of working age people
Which of the following is not an example of supply-side unemployment
Frictional
Seasonal
Cyclical
Structural
Which of the following occupations might be subject to seasonal unemployment
Agricultural labourers
Bus drivers
Landscape gardeners
Operations manager in a frozen food factory
Which of the following might solve the problem of regional unemployment?
Making cheap rented accommodation available in areas with low unemployment and many unfilled job vacancies
Making cheap rented accommodation available in areas of high unemployment
Giving grants to firms to set up in areas of low unemployment
Building more vocational training colleges in areas of high employment
What does YF minus Y1 represent in the graph
Full employment
Cyclical unemployment
Supply-side unemployment
Voluntary unemployment
Real wage unemployment may be caused by which of the following
Minimum wage legislation
Generous welfare payments
Geographical immobility
Powerful trade unions
What was the most recent UK rate of unemployment (before the coronavirus pandemic forced the government to declare social distancing)
14.7%
1.47%
47%
4.7%
Which of the following is most likely to occur during a period of low unemployment?
Investment in new technology by businesses
Government will abolish minimum wage
Rapid wage inflation
Rapid rise in trades union membership
What would happen if there was a significant fall in the number of frictional, seasonal and structurally unemployed workers?
There would be a leftward shift in the LRAS curve
There would be a movement along the PPF
There would be a shift to the left of the PPF
There would be a rightward shift in the LRAS
Fred Flinstone was laid off from the Quarry because the nation is suffering from a recession.
Cyclical
Frictional
Seasonal
Structural
Ronald McDonald, who just graduated from Clown School, is looking to find his first real job.
Cyclical
Frictional
Seasonal
Structural
Scooby Doo is looking for a job during the winter since Kings Island is closed until Spring.
Cyclical
Frictional
Seasonal
Structural
Paul Bunyan lost his job as a lumberjack because the timber company he works for decided to just buy chainsaws.
Cyclical
Frictional
Seasonal
Structural
The Tooth Fairy was fired because she just is not doing a good job.
Cyclical
Frictional
Seasonal
Structural
Frosty the Snowman is expecting to be out of work shortly following the last big snow of the year.
Cyclical
Frictional
Seasonal
Structural
The Easter Bunny found out that he was being let go, since Americans have decided to not eat eggs, which are high in cholesterol.
Cyclical
Frictional
Seasonal
Structural
Mickey Mouse voluntarily quit his job at Disney & has decided that he will seek a job as a truck driver.
Cyclical
Frictional
Seasonal
Structural
Sam I Am was laid off after orders for Green Eggs & Ham declined greatly following last years stock market crash.
Cyclical
Frictional
Seasonal
Structural
Peter Pan was fired from his job at the Peanut Butter factory because he is being replaced by RoboCop (a highly efficient peanut butter machine).
Cyclical
Frictional
Seasonal
Structural
Unemployed (Looking for job) = 20
Retired = 5 Prison = 2
School = 10 Employed = 180
Unemployed (not looking for job) = 20
Total population 1000
Full time workers 500
Part time workers 200
Discouraged workers 10
Unemployed 70
What is the unemployment rate?
A peak in business cycle is indicated by ______ unemployment and _______ output.
higher ; lower
lower ; higher
decreasing ; increasing
increasing ; decreasing
A peak in business cycle is indicated by ______ unemployment and _______ output.
higher ; lower
lower ; higher
decreasing ; increasing
increasing ; decreasing
_______ occurs when people are in between jobs, entering and reentering the labour force.
Cyclical unemployment
Technological unemployment
Frictional unemployment
Seasonal unemployment
_______ occurs when people are in between jobs, entering and reentering the labour force.
Cyclical unemployment
Technological unemployment
Frictional unemployment
Seasonal unemployment
This inflation results from an inefficient market or structure of the economy.
Cost push inflation
Demand pull inflation
Divisional inflation
Structural inflation
Farm helpers are unemployed when the cropping season is over.
frictional
cyclical
structural
seasonal
When individuals are unemployed due to a change in season, e.g. Santa Claus after christmas.
Seasonal Unemployment
Frictional Unemployment
Structural Unemployment
Cyclical Unemployment
Sum of the employed and the unemployed
Employed
Unemployment
Labor Force
If a change in income appears permanent such as being promoted to a secure and high paying job, __________________.
then people are likely to consume less.
then people are likely to save more.
then people are likely to consume more.
then people are likely to save less.
What is the correct formula for calculating the unemployment rate in the US?
#unemployed/labor force x100
#labor force/working age population x100
#unemployed/#employed x100
#labor force/60,000 (BLS household survey
What is the unemployment????
decisions to work based on each individuals' valuation of their own work
proportion of younger workers in the labor force
the situation of actively looking for employment but not being currently employed.
person who is simultaneously an income earner,
What is the formula of unemployment rate???
=(labor force/unemployed)*100%
=(GDP*labor force)/100%
=(unemployed/labor force)*100%
none of them
How many general types of unemployement in economy?
Which is not the type of unemployment?
frictional
functional
cyclical
structural
