CH28

Employed workers include

 Unpaid workers in a family member’s business

 True
False
 
 
If you are employed part-time you are considered
  
nominally employrd
fully employed 
cyclically unemployed 
frictionally unemployed
 
 
If you are unemployed because there is no longer a need for your skill set you are classified
as
  
nominally unemployed 
cyclically unemployed 
frictionally unemployed  
structurally unemployed
 
 
To be counted as “employed” in the U.S. labor force statistics, a person
 
does not have to be working for pay if they are working for a family business and does not have
to be working full time.

must be working for pay and be working full time

 
 
does not have to be working for pay if they are working for a family business but must be
employed full time.
 
must be working for pay but does not have to be working full time.

The labor-force participation rate measures the percentage of the

  
total adult population that is in the labor force
total adult population that is employed
labor force that is either employed or unemployed.
labor force that is employed
 
 
A total / highest measure of unemployment covering all types of unemployed is the ____
unemployment number
  
U-6  
U-18 
U-1  
U-3
 
 

Minimum-wage laws
  
do not apply in states with right-to-work laws
affect highly-educated workers more than high school dropouts
cause labor shortages, which further raise wages above equilibrium
create unemployment
 
 
The labor force equals the
 
number of people employed plus the number of people unemployed
 
number of people employed plus the number of people unemployed plus teenagers between ages
14 and 16 who work at least 10 hours a week.
  
number of people employed
adult population
 
 
Which of the following is not one of the categories into which the Bureau of Labor Statistics
places each adult of each surveyed household?
  
underemployed 
not in the labor force 
employed 
unemployed
 
 
Unemployment insurance
 
pays up to 75% of your former wages for 26 weeks
pays up to 50% of your former wages for 52 weeks
pays up to 50% of your former wages for 26 weeks
pays up to 50% of your former wages for 13 weeks
 

Current unemployment is approximately

  
7.4  
3.8
4.1 
5.6
 

According to the government, unemployed workers do not include

  
part-time workers
naturally unemployed 
discouraged workers
the labor force

 
  Some frictional unemployment is inevitable
  
True 
False
 

An economy’s natural rate of unemployment is the

  
amount of unemployment that the economy normally experiences  
all unemployed people 
lowest rate of unemployment the economy can achieve
economy’s long-run target level of unemployment
 

Discouraged workers are included in

  
the number of unemployed. 
frictional unemployment.  
None of the other answers is correct
the labor force