Chapter 16: Problem 6
People who are not working will be counted as employed if they are a. on vacation. b. absent from their job because of bad weather. c. absent from their job because of a labor dispute. d. all of the above.
Chapter 16: Problem 6
People who are not working will be counted as employed if they are a. on vacation. b. absent from their job because of bad weather. c. absent from their job because of a labor dispute. d. all of the above.
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Get started for freeStructural unemployment is caused by a. shifts in the economy that make certain job skills obsolete. b. temporary layoffs in industries such as construction. c. the impact of the business cycle on job opportunities. d. short-term changes in the economy.
The phase of a business cycle during which real GDP reaches its minimum level is the a. recession. b. depression. c. recovery. d. trough.
Frictional unemployment applies to a. workers with skills not required for existing jobs. b. short periods of unemployment needed to match jobs and job seekers. c. people who spend long periods of time out of work. d. unemployment related to the ups and downs of the business cycle.
Which of the following statements is true? a. The four phases of the business cycle, in order, are peak, recovery, trough, and recession. b. When unemployment is rising, then real GDP is rising. c. The economic problem typically associated with a recovery is rising unemployment. d. Full employment exists in an economy when the unemployment rate equals the sum of frictional and structural unemployment rates.
Which of the following statements is true? a. The GDP gap is the difference between actual real GDP and full-employment real GDP. b. We desire economic growth because it increases the nation's real GDP. c. Economic growth is measured by the annual percentage increase in a nation's real GDP. d. Discouraged workers are a reason critics say the unemployment rate is understated. e. All of the above are true.
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