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AP Unemployment

Total questions: 28

Worksheet time: 14mins

Name
Class
Date
1.

What measure shows what percentage of the eligible workers do not have jobs?

a)

Gross Domestic Product

b)

Unemployment Rate

c)

Inflation Rate

2.

When people are in the process of looking for a job after being fired or are transitioning to a new position, this is called?

a)

Frictional Unemployment

b)

Structural Unemployment

c)

Cyclical Unemployment

3.

When people can't find a job because of a lack of demand for their skills or type of labor, this is called?

a)

Frictional Unemployment

b)

Structural Unemployment

c)

Cyclical Unemployment

4.

When people can't find a job because the economy is not doing well due to a recession, this is called?

a)

Frictional Unemployment

b)

Structural Unemployment

c)

Cyclical Unemployment

5.

In the United States, a healthy economy should have an unemployment rate of 4-6%.

a)

True

b)

False

6.
Of the following, which is the best example of structural unemployment?
a)
A computer programmer who quits her job to move to a warmer climate
b)
A construction worker who loses his job in the winter
c)
An auto worker who loses her job during a recession
d)
A steel worker who is replaced by a robot
7.
Which of the following is true about the natural rate of unemployment?
a)
It can vary over time.
b)
It is 2 percent orless of the civilian laborforce.
c)
It is equal to the structural unemployment rate.
d)
 It allows for some frictional and cyclical unemployment.
8.
Which of the following would NOT be considered part of the labor force?
a)
Tyler, a banker who feels he is overqualified for his job.
b)
Savana, who is unemployed but has attended  three job interview in the last month.
c)
Ricky, who has a part-time job but wants a full-time job.
d)
Garrett, a stay-at-home dad.
9.
During a recession, which of the following is likely to occur?
a)
an increase in real wages
b)
an increase in production
c)
and increase in the GDP growth rate
d)
an increase in the unemployment rate
10.
The unemployment rate is calculated as the number of
a)
unemployed persons divided by number of employed persons
b)
persons in the labor force divided by the number of unemployed
c)
unemployed divided by size of the labor force
d)
employed persons divided by number of unemployed persons
11.
Mr. Johns is quitting his job as a teacher and moving to california. He is
a)
Cyclically unemployed
b)
Seasonally Unemployed
c)
Structurally Unemployed
d)
Frictionally Unemployed
12.
The unemployment rate does not account for which two types of people?
a)
discouraged workers (hidden unemployed) and those employed
b)
full time carers and those in school
c)
retirees and those in prison
d)
discouraged workers (hidden unemployed)  and underemployed
13.
Who is most likely to be hurt by inflation?
a)
someone who borrowed money
b)
a retiree on a fixed income
c)
a business owner
d)
the U.S. government
14.
Which of the following people would be considered structurally unemployed? 
a)
Unemployed auto assembly line factory worker during a recession.
b)
A high school student who mows lawns during the summer, but is out of work because it is winter
c)
An auto assembly line worker who quit her job to go back to school full-time to improve her job skills
d)
Unemployed auto assembly line factory worker who was replaced with a robot
15.
Which of the following will most likely occur during the expansionary phase of the business cycle? 
a)
Real GDP rises and unemployment falls.
b)
Real GDP rises and unemployment rises. 
c)
Real GDP declines and inflation rises.
d)
Interest rates rise and the number of business failures rise. 
16.
Frictional unemployment 
a)
would be eliminated if the economy were operating at full employment levels of GDP.
b)
is zero when we have achieved the Natural rate of unemployment.
c)
is present even when labor markets are working well.
d)
is the result of worker skills not matching the jobs available
17.

When individuals lose jobs due to fall in aggregate demand, often during an economic recession.

a)

Structural Unemployment

b)

Cyclical Unemployment

c)

Frictional Unemployment

d)

Seasonal Unemployment

18.

Individuals are unemployed due to a lack in skills that modern industries need, change in technology.

a)

Cyclical Unemployment

b)

Frictional Unemployment

c)

Structural Unemployment

d)

Seasonal Unemployment

19.

When individuals are unemployed due to a change in season, e.g. Santa Claus after christmas.

a)

Seasonal Unemployment

b)

Frictional Unemployment

c)

Structural Unemployment

d)

Cyclical Unemployment

20.

Unemployment Rate formula

a)

(Unemployed/ Labor force) * 100

b)

(Employed/ Unemployed) * 100

c)

(Labor force/ Employed) * 100

21.

In March 2018, 5,000 US residents were employed and 3,000 were unemployed. Find the unemployment rate.

a)

60 %

b)

62.5 %

c)

50 %

d)

37.5%

22.

Find the unemployment rate.

Labor force= 10,000

Employed = 4,000

a)

66 %

b)

40 %

c)

60%

d)

33%

23.

In December 2017, 15,000 of US residents were employed and 5,000 were unemployed. Find the unemployment rate for December 2017.

a)

25 %

b)

20 %

c)

33 %

d)

75%

24.

What is being out of the labor force?

a)

currently working for pay

b)

out of work and not actively looking for a job

c)

out of work and currently looking for a job

d)

the number of employed and unemployed

25.

Which is not the type of unemployment?

a)

frictional

b)

functional

c)

cyclical

d)

structural

26.

What is the natural rate of unemployment (NRU)?

a)

is defined as the percentage of unemployed workers in the total labor force

b)

is defined an economy if there were no cyclical unemployment. In other words, it's frictional unemployment plus structural unemployment.

c)

refers to an overall increase in the Consumer Price Index (CPI),

d)

none of them

27.

Which of the following statements would be classified as “full employment’?

a)

Everyone who wants to work has a job

b)

Approximately 95% of people have a job

c)

People who have been hunting for a job for a long time

d)

Everyone who wants to work have full time jobs

28.

Who among the following would be considered as unemployed?

a)

A graduating student of legal age to work

b)

An entrepreneur in the process of starting a new business

c)

A secretary who has resigned from work & looking at job ads

d)

A housewife running 2 internet shops at the same time

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