If the U.S. economy enters a recession, the A) labor force tends to increase. B) economy experiences full employment. C) unemployment rate tends to increase. D) entire population will be partially unemployed. ANSWER C
Date: September 2nd, 2020
The labor force includes individuals who are: I. Employed II. Unemployed III. Discouraged workers A) Both I and III B) I only C) Both I and II D) All I, II and III ANSWER C
Date: September 2nd, 2020
The rate of unemployment is found by A) dividing the number unemployed by the number of people in the labor force. B) dividing the number employed by the number of people in the labor force. C) dividing the number unemployed by the number employed. D) dividing the number employed by the number unemployed. ANSWER […]
Date: September 2nd, 2020
Including discouraged workers in the calculation of the unemployment rate would A) not change the reported rate. B) increase the reported rate. C) change the reported rate, but in an unpredictable manner. D) lower the reported rate. ANSWER B
Date: September 2nd, 2020
Unemployment is measured as A) all adults in the civilian labor force who are not working. B) all adults in the civilian labor force who are willing and able to work and who are actively looking for work, but have not found a job. C) all teens and adults in the civilian labor force who […]
Date: September 2nd, 2020
The labor force is defined as the number of A) people who are working. B) union members who are working. C) people who are working in labor-type jobs. D) employed plus the number of unemployed. ANSWER D
Date: September 2nd, 2020
A country’s labor force is equal to A) the population between the ages of 16 and 65. B) the number of employed people. C) the total number of employed and unemployed people. D) the total number of employed people, unemployed people, and discouraged workers. ANSWER C
Date: September 2nd, 2020
The U.S. Department of Labor classifies all individuals in the United States as A) either overemployed or underemployed. B) labor force participants. C) either employed, unemployed, or not in the labor force. D) potential employees. ANSWER C
Date: September 2nd, 2020
The term “unemployment” is best described as the total number of A) adults who are looking for work but have not found a job. B) people not working. C) adults who work fewer hours than they wish to work. D) people who have been laid off and have stopped looking for work. ANSWER A
Date: September 2nd, 2020
The simple circular flow of income shows that the total income in an economy equals A) all taxes paid by households. B) total expenditures. C) the total amount of money supplied by the government. D) total profits earned by firms. ANSWER B
Date: September 2nd, 2020
