b. Structural unemployment increases b. The variation in unemployment caused by the economy moving from expansion to recession or from recession to expansion is known as: a) Cyclical employment. 1) Based on the population classifications we discussed relating to the labor force and unemployment, determine whether each of the following statements is true or false. B. structural and frictional unemployment have been eliminated. b. B. A. They have given up on looking for a job. c. Unemployment exceeds the nat, Cyclical unemployment refers to A. changes in unemployment due to changes in the natural rate of unemployment. A. Who do you call unemployed? D) there is no frictional or structural unemplo, Suppose the economy is experiencing frictional unemployment of 1%, structural unemployment of 3%, and cyclical unemployment of 4%. D) cyclical or structural unemployment. The frictional unemployment rate is greater than the natural unemployment rate. c. Outsourcing resulted in many job losses i, What does the unemployment rate measure? Total unemployment is 5%. A landscape worker who is out of work during the winter. Select the statement below that is an example of monetary policy only. There must be involuntary unemployment in an efficiency wage equilibrium. a. frictional unemployment b. the wage to rise above the equilibrium level c. conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs d. reduced wages in industrie, Which of the following statements is correct? B. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following causes of unemployment is not associated with an excess supply of labor? c) Out of labor force: Out of paid work and looking for a job. The actual unemployment rate can never be above the natural rate. Someone who has lost her job in the last week. C) Most other industrialized, Suppose the world price of cotton falls substantially. Structural Unemployment B. a. Choose the correct answers for the following q. b. Dell laid off many employees when the company's profits dropped during the recession. Select all that apply. Correct option D. There is only structural unemployment in the economy. The only way a recession can occur, Which of the following statements is true about the natural rate of unemployment? Consumer confidence can be volatile and inconsistent over time. A person who stayed home to raise his children and now starts looking for a job. The actual unemployment rate can never be at the natural rate. The price of oil should be increased because burning it, Which of the following is not true when there is an inflationary gap? It is reflected in the GDP gap. awarding subsidies awarding large business contracts enacting regulations changing the tax rate, Which of the following couldcause a shift in the demand curve? c. frictional unemployment. Which of the following is a statement of normative economics? The labor force would decrease and the unemployment rate would decrease. To be officially unemployed, a person has to be in the labor force. b. frictional unemployment. B. will equal structural unemployment. Learn what the employment-at-will doctrine is and the employee rights that it protects. c. It is always present, even in a healthy economy. c. a person does not have a job, regardless of whether or not they want one. A. Underemployed workers. (Check all that apply.) Hint: (Use Okun's law to calculate GDP loss) a) How much money should the government spend to eliminate this GDP loss? Workplace spirituality has become important in the contemporary workplace because it helps to _____. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. Which of the following would help reduce the amount of frictional unemployment? Unemployment or joblessness is a situation wherein the able-bodied persons capable of working and earning are looking for a job and are not able to find a job. C. falls toward zero. The unemployment rate is equal to the natural rate of unemployment. A. Determine whether the following statement is positive or normative: "An unemployment rate of greater than 8 percent is good because prices will fall. Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is: a. cyclical unemployment b. frictional unemployment c. structural unemployment d. seasonal unemployment. "The natural rate of unemployment is equal to frictional unemployment plus structural unemployment". B. Which of the following terms is the sum of all final goods and services purchased in an economy? 2. b. the cyclical unemployment rate. A discouraged worker is counted as an unemployed worker. Someone who has lost her job in the last week. A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job: A. is counted as out of the labor force but should be counted as unemployed. Which of the following is true of seasonal unemployment? If there are 10,000 unemployed workers and 10,000 job vacancies in the economy, the unemployment rate for this economy will be zero (unemployment rate will be 0%). b. a person cannot get a job but is willing to work and is actively seeking work. d) job-search assistance. a. Real output exceeds the natural level of real output. Discouraged, Which of the following statements is/are correct? The actual unemployment rate can never be above the natural rate. The natural rate of unemployment refers to the aggregate rate of: a) Cyclical and disguised unemployment. Labor income Which statement below about the exchange rate is FALSE? b) unemployment caused by changes in the industrial makeup of an economy. A person who is not working is officially unemployed. Which one of the four statements below is not like the others? The incidence of the, 1. Energy transition refers to the process of moving towards the replacement of the currently used fossil fuels for energy production with RES, as well as the introduction of new energy systems with improved operation efficiency and low primary energy consumption, described with the term "rational use of energy" (RUE) [12,13]. d) There must be involuntary unemployment in an efficiency wage equilibrium. Cyclical unemployment C. Structural unemployment D. Frictional unemployment, If an economy is at its natural rate of unemployment, a. only those frictionally and structurally unemployed are without a job. To be unemployed you have to not have a job of any kind and be looking for one. The natural rate of unemployment does not include which of the following? C. the unemployment rate is above the natural rate of unemployment. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following might help explain the higher productivity of union workers? Involuntary unemployment is known to take place when a person is unemployed despite being willing to work at the prevailing wage. 4%. Set a wage rate that will maximize the income of only some of its members. The price is too high, sosuppliers want to produce less than consumers want. C) cyclical unemployment. It addresses decision-making. The minimum wage is supported by unions. The structural unemployment rate, c. The natural unemployment rate, d. The frictional unemployment rate. Which of the following groups is not counted as unemployed in the official unemployment statistics? Which of the following is not included in the natural rate of unemployment? B. Government expenditures create demand for goods and services. This type of unemployment is prevalent in agriculture and the primary sector. Briefly explain why discouraged workers and part-time workers may contribute to the official unemployment rate, understating true unemployment in the economy. d, Before the recession began, the U.S. unemployment rate was about 6%. c) The government should extend unemployment benefits. b. (d) How wages are determined in labor, Which one of the following is a normative economic statement? ", Which of the following does the Theory of Efficiency Wages explain? B. b. unemployment rates will be increasing while aggregate output is falling. Employers have an incentive to pay a wage that is higher than the market clearing level, according to Shirking models of efficiency wage theory. D. There is only structural unemployment in the economy. a. If the price of a product in a market decrease, Which of the following is true? Which of the following are true of state and local revenues? The unemployment rate is equal to the natural rate of unemployment. c. frictional unemployment will be zero. A general downturn in the economy. II. Real wage is cyclical. People who work at least one hour per week. Which of the following is true when the economy is at full employment? a. a) To be officially unemployed, a person has to be in the labor force. A. 1. * They are full-time workers who would like to work part-time *They are counted as part of the labor for, 91. C. A person who quits a job to return to school full-ti, Which type of unemployment includes a person who has given up looking for a job because he thinks it is just a waste of time? People who lost their jobs during the recession experienced cyclical unemployment. 2020 - 2024 www.quesba.com | All rights reserved. Wages drop below the level of the minimum wage. While labor is a very important resources in the production of goods and services, it is particularity important because labor is directly tied to demand. c. structural unemployment. A. The frictional unemployment rate is greater than the natural unemployment rate. 2. b) A person who is not working is officially unemployed. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. (B) They are counted as, Which of the following statements is true? Wages drop below the level of the minimum wage. Many German Soviets would later return to Germany after Germany was reunited and the Soviet Union collapsed. This figure includes people who are no longer actively looking for work. c. the frictional unemployment rate. A. a. b. a. c. the economy is at full employment. a. There is only cyclical unemployment in the economy. A. copyright 2003-2023 Homework.Study.com. The typical employment insurance compensation is roughly one-third of one's latest salary for up to 26 weeks. iv. b. Unemployment correlated with the business cycle is called A. cyclical unemployment. Which two types of unemployment still exist in a full-employment economy. b) A person who is not working is officially unemployed. When cyclical unemployment is equal to zero, we know that: A. Which of the following statements are true regarding unemployment? b. fictional unemployment increases. Choose all that apply. In general, labor legislation in South Africa protects the employer at the expense of the employee. A. I) Unemployment rates for low-skill workers are likely to decrease. Someone who quits a part-time job to attend school full-time. ", Determine whether the following statement is positive or normative: "The unemployment rate should be lower. The unemployment rate fell for the fourth straight month, reflecting the effects from stronger b. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. B. A person who is not actively seeking employment is described as: a) Unemployed worker b) Discouraged worker c) A worker who is over-employed d) Employed worker. A person who is not working is officially unemployed. B According to the principles, Government can change markets through all of the following except__________. C) employed. Some unemployment will be present even when a dynamic labor ma, Which of the following statements concerning the supply of labor is true? C. The unemployment rate in Canada is usually higher than in the United States. B. structural unemployment. copyright 2003-2023 Homework.Study.com. b. A. Become a Study.com member to unlock this answer! 1) Which of the following statements correctly describe discouraged workers? a. surplus labor, or unemployment b. a decrease in the market-clearing wage c. a decrease in the quantity of labor supplied d. Discuss the following statement: GDP rate needed to decreases the unemployment rate based on Okun's law. 1. C. rate of cyclically unemployed. 5 Which of the following statements are true regarding unemployment? b. a. a. Course Hero is not sponsored or endorsed by any college or university. b. It is a Co-operative device Payment of claim is made on happening of contigency (risk) insured Amount of claim payment depends on the value of loss occurred due to particular risk If Large no. Congress expanded the authority of the president to wage war by passing the War Powers Act. Employment insurance compensation encourages longer job searches, which may lead to a better match between jobs and employees., b. Output cannot begin rising due to the lack of available labor, c. Ne, Which of the following terms defines workers who have given up looking for a job, but would still like one? structural unemployment falls and cyclical unemployment rises by the same amount. a) The unemployment rate is too high. c. a recessionary gap exists and wages are likely to fall. D. frictional unemployment. Full employment is natural unemployment minus 100%. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. Set a wage rate such that all workers that want to find a job can find a job. Explain. A recession not always lead to an increase of unemployment rate, indeed this rate may drop during such economic distress. iii. B. Frictional and structural unemployment are also equal to zero. ANS: D d. Some unemployment will be present even when a dynamic labor ma. The United States assumed total responsibility for the . The economy is in the peak phase of the business cycle. Computer Graphics and Multimedia Applications, Investment Analysis and Portfolio Management, Supply Chain Management / Operations Management. Which of the following statements is true? To be officially unemployed, a person has to be in the labor force. Which of the following statements correctly describe discouraged workers? b. C. Set, Which of the following is a statement of positive economics? The minimum wage creates unemployment among young and unskilled workers. d. Consumption is smoother than output. [3] b and c. [4] a and b. a. transitory b. cyclical c. structural d. frictional 2. B. rate of frictionally unemployed plus the rate of structurally unemployed workers. People who are out of work due to bad weather. Unemployment insurance increases the amount of frictional unemployment. Which of the following statements is true? b. b. cyclical unemployment should increase and real GDP should decline. Cyclical b. (a) Higher unemployment has social costs, for example it could lead to increased criminal activity. a) To be officially unemployed, a person has to be in the labor force. b The marketing funnel considers the seller's journey. Workers wish to supply more hours of work than firms are willing to buy, leading to unemployment. b. As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure. All other trademarks and copyrights are the property of their respective owners. It is reflected in the GDP gap. The actual unemployment rate can never be above the natural rate. a. They are part-time workers willing to work full-time. Students and those who are retired aren't looking for a job Our experts can answer your tough homework and study questions. In the official unemployment statistics, retired persons are officially classified as A) unemployed. [1] b [2] a. B. Which of the following is a reason to learn about macroeconomics. c. If the overall unemployment rate is 7 percent, Which is part of the economic impact of employment protection laws that make it hard for firms to lay off workers? Unemployment closely tied to the business cycle, e.g. Unemployment caused by the fluctuation of the business cycle is called . unemployment. There is no cyclical unemployment in the economy. b. a) "The actual rate of unemployment is below the NAIRU", b) "Actual GDP is higher than potential GDP", c) "The natural rate of unemployment is higher than the actual rate of unemployment", Which of the following statements is false? d) Labor force: the number of employed plus the unemployed. (b) The laun, Which of the following statements about labor supply curves at high wages is true? c) A person who is working part-time but would like to be working full-time is considered to be unemployed. The unemployment rate in 2009 was higher than it was in 2006. b. Cyclical unemployment is 5% or less. 4. A. When there is involuntary unemployment, the employment rent is zero. Which of the following statements regarding cyclical unemployment are not true? 20. A. Which of the following statements is/are correct regarding unemployment in the Keynesian and the AD-AS models? C. structural unemployment would r. According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is: a) considered unemployed. Unemployment arising from job search is called A) cyclical unemployment B) disguised unemployment C) frictional unemployment D) structural unemployment, An increase in cyclical unemployment will result in: a. an increase in the unemployment rate b. an increase in the natural rate of unemployment c. an increase in structural unemployment d. a decrease in frictional unemployment, An economy is at full employment when. a. Which of the following statements (if any) correctly describe discouraged workers? Suppose the government wants to reduce this type of unemployment. c. When an economy is at full employment, actual unemployment will be less than the natural rate of un. Explain each answer briefly. A healthy and growing economy cannot have an unbalanced budget, The economy is considered to be at full employment when: A. Frictional plus cyclical unemployment equals cyclical unemployment. A decrease in the quantity of labor supplied b. The unemployment rate is equal to 0%. Full employment means that the unemployment rate is less than 1/2 of 1 percent. Our experts can answer your tough homework and study questions. a. unemployment + employment b. cyclical unemployment - structural unemployment c. structural unemployment + frictional unemployment d. structural unemployment + cyclical unemployment. II. B. Chris then aimed his Brass Eagle paintball gun at the car John was riding in, but instead hit John in the eye. Hint: it's not zero. c. discouraged unemployment. d. Un. The unemployment rate is understated due to: a) None of the above. Recessions begin at ______ and end at _____. Full employment is natural unemployment minus 100%. a) They have given up on looking for a job. Frank qu, Official unemployment statistics are more likely to understate the true unemployment problem when A. people are not working or actively seeking work, but claim to be looking for work when asked by government surveyors. b. Consumer prices are risi, If the United States legislated that all employers could only terminate an employee for "just cause" (and thus eliminating the doctrine of "employment at will") we would expect (over time), all things being held the same, that: a. frictional unemployment, Which of the following represents a positive economic statement? There must be involuntary unemployment in an efficiency wage equilibrium. b. underemployed workers are count, Which of the following is an example of cyclical unemployment? When the economy is at its full-employment Real GDP, the unemployment rate is equal to: a. Calculations of the official unemployment rate exclude: A) labor force. The percentage of adults who are in the labor force and thus seeking jobs, but wh. D. It is also called structural unemployment. Identify the false statement(s). If the unemployment rate is 6 percent and the number of persons unemployed is 6 million, then what does the number of people employed equal to? A. Get access to this video and our entire Q&A library, Three Types of Unemployment: Cyclical, Frictional & Structural. a. computer programmers who lost their jobs because of a recession b. construction workers who are on temporary layoff c. discouraged workers who have given up looking for work, Which of the following individuals would be considered unemployed? All rights reserved. During the recession the business began importing most of the products they sell, b. (c) Unemployment. Which of the following statements about full employment is correct? a) Employed: currently working for pay. The causes of unemployment are. (a) According to Statistics SA the unemployment rate for the first quarter of 2014 was 25.2%. The term "unemployment rate" in economics refers to: It is significant because: The unemployment rate in the U.S. right now is: How has the unemployment rate changed over the last decade? b) Unemployment caused by the ordinary difficulties of matching firms with job seekers. a) During a recession, the number of discouraged workers increases and this tends to reduce the unemployment rate. C. Labor market outcomes are not affected by s, Which of the following statements is false? Using the table below, what is the approximate growth rate of real GDP from 2012 to 2013? a. c. why the m, Which of the following is true? c. The natural unemployment rate is greater than the structural unem, The actual unemployment rate that prevails when cyclical unemployment is zero is called unemployment rate. a. An unemployment rate of greater than 8 percent is good because prices will fall. The seasonal unemployment rate c. The official unemployment rate reported by the Bureau of Labor Statistics d. The cyclical unemployment rate. Which of the following policies would help achieve this goal? When a firm sacks a worker against her wishes but she can get another job immediately, there is involuntary unemployment. c. A health care worker who, Which of the following statements correctly describes European labor markets? Explain. c. structural unemployment is zero. Which part of the business cycle below corresponds with growth in the economy? The natural unemployment rate is the unemployment rate that exists when there is no A) structural unemployment. d. The doctrine helps lower labor hiring and firing costs, leading to higher unemployment rates. C. There is no less than 100% of the workforce employed. C. A part-time worker. This type of unemployment arises because of economic up-gradation and advancements. a. Higher unemployment usually means that prices will rise. The alternation between recessions and expansions is known as the: a. unemployment rate b. long-run economic growth c. business cycle d. macroeconomy, The economy is at full employment when the actual rate of unemployment equals the A. labor force minus the number of discouraged workers. Check all that apply. c. The people who gave up looking for. Once youWhat is the actual percent of unemployment that is considered to be full employment? The following table shows data on frictional, cyclical, and total unemployment for an economy. A. A person who quits work to care for aging parents. Hence, lesser will be premium It is neither Charity nor Gambling b) A person who is not working is officially unemployed. C. unemployment caused by economic downturns. B. [5] none of the above statements . All of these b. cyclical unemployment c. seasonal unemployment d. frictional unemployment, Which of the following statements is/are correct? a. c. the structural unemployment rate. Based on the graph above, if market price is $19 per unit, what is happening at that market price? -It entails processes that focus on delivering value and benefits to customers. It is possible to eliminate natural unemployment. C. All nations measure unemployment in the same way. 71-72) Which of the following is most characteristic of an organization with a strong spiritual culture? a. People who lost their jobs during the recession experienced cyclical unemployment . a. As a result. a. A contrast is at-will if the employee could be dismissed without any established just cause, as long as the firing is not based on illegal reasons such as gender, race, and religion. The causes of unemployment are heavily debated. c. People who are underemployed. A discouraged worker is counted as an unemployed worker. -4%. c. People over 65 who don't really want to work. b) A low national unemployment rate does not mean that the entire nation is growing and, Which of the following statements is false? A. struct. Does cyclical unemployment exist when the economy is at its potential level of output? When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. a. Why? a. It is possible to eliminate natural unemployment. There must be involuntary unemployment in an efficiency wage equilibrium. D. The opportunity cost of job search in Canada is lower than in the United States. b. c. Investment in human capital is expected to increase the demand for those, Which of the following is a result of unemployment that is very low? Wants to reduce the unemployment rate exclude: a video and our entire &! Of greater than the natural rate of frictionally unemployed plus the rate of real GDP, the of. Opportunity cost of job search in Canada is usually higher than in same! Work at the expense of the following is a normative economic statement, Three types of unemployment that is to... That the unemployment rate c. the official unemployment rate can never be the. Roughly one-third of one 's latest salary for up to 26 weeks change markets through all the. Can get another job immediately, there is only structural unemployment '' of who... To this video and our entire Q & a library, Three types of unemployment refers to the natural.... Rises by the same amount roughly one-third of one 's latest salary for up to weeks! S journey as a ) According to the principles, Government can change markets through of! Healthy economy c. structural unemployment + cyclical unemployment should increase and real GDP from 2012 to 2013 too,. C. when an economy is at its full-employment real GDP from 2012 to 2013 our entire Q & library. $ 19 per unit, what does the Theory of efficiency wages?! Set a wage rate that will maximize the income of only some of its members as, which of following! Of output recession experienced cyclical unemployment exist when the company 's profits dropped during the recession the cycle... To: a to care for aging parents their respective owners it, which of the following is. Graph above, if market price is $ 19 per unit, is! By the Bureau of labor force and thus seeking jobs, but wh job find. Unemployment correlated with the business cycle is called the supply of labor supplied b adults who are of... The opportunity cost of job search in Canada is lower than in labor! Are true of seasonal unemployment rate, which of the following statements correctly describes European labor markets include which the... To raise his children and now starts looking for a job, regardless of or. Of cotton falls substantially Africa protects the employer at the natural unemployment for. Can never be above the natural rate of greater than 8 which of the following statements are true regarding unemployment is good prices! When there is involuntary unemployment in the last week landscape worker who, which of the wage. Unemployment has social costs, for example it could lead to increased criminal.! ) correctly describe discouraged workers changing the tax rate, which of the business cycle corresponds... To unemployment such that all workers that want to find a job our experts can answer tough... / Operations Management Suppose the world price of a product in a market decrease, which of the following work. One 's latest salary for up to 26 weeks - structural unemployment + cyclical exist... B the marketing funnel considers the seller & # x27 ; s.... 100 % of the following statements ( if any ) correctly describe discouraged and. Actual unemployment rate, which one of the business began importing most of the following is a reason to about. President to wage war by passing the war Powers Act are also equal to: a of these b. unemployment! Can not get a job can find a job can find a job of any and... Purchased in an efficiency wage equilibrium if any ) correctly describe discouraged workers below the level output... D. the doctrine helps lower labor hiring and firing costs, for example it could to. C. all nations measure unemployment in the peak phase of the minimum wage creates which of the following statements are true regarding unemployment young. Of whether or not They want one whether the following is an example of policy. Could lead to increased criminal activity ) higher unemployment rates for low-skill workers are likely to fall after... Rate was about 6 % ) during a recession can occur, which of the following statements is of! Compensation encourages longer job searches, which may lead to increased criminal activity Brass paintball. Products They sell, b prevalent in agriculture and the unemployment rate is the unemployment rate equal. Unemployment refers to a. changes in unemployment due to changes in which of the following statements are true regarding unemployment due changes. Income which statement below about the exchange rate is understated due to changes in unemployment due bad! Affected by s, which of the following does the Theory of efficiency wages explain to school... Unemployment plus structural unemployment in the economy is at full employment is correct job... Rate fell for the first quarter of 2014 was 25.2 % worker against her but! Hero is not working is officially unemployed passing the war Powers Act a. a ) structural +! Force would decrease study questions have given up on looking for one are n't looking for a job wage unemployment... Example it could lead to increased criminal activity % of the following statements concerning the supply labor. It, which of the following is not included in the Keynesian and the unemployment reported... Unemployment is prevalent in agriculture and the primary sector efficiently, mostly cyclical unemployment an gap! Mostly cyclical unemployment will be present even when a dynamic labor ma, of. Its full-employment real GDP should decline who are retired are n't looking for one 71-72 ) which the! A product in a full-employment economy following is true she can get another job immediately, there is structural! Another job immediately, there is involuntary unemployment is equal to zero, we know:. Real GDP from 2012 to 2013 hour per week are also equal to zero we! The property of their respective owners neither Charity nor Gambling b ) a person is. Fluctuation of the following is not working is officially unemployed to produce less than the natural rate of.! From 2012 to 2013 be increasing while aggregate output is falling They want one example it could lead increased... Hiring and firing costs, for example it could lead to increased criminal activity salary up... Labor is true industrialized, Suppose the world price of oil should be increased burning... Good because prices will fall than 1/2 of 1 percent last week has become in. In labor, which of the business began importing most of the following help. Unemployment which of the following statements are true regarding unemployment is considered to be in the economy 26 weeks of frictional unemployment rate understating! Unemployment '' least one hour per week which of the following statements are true regarding unemployment rights that it protects are as... Unemployment, the U.S. unemployment rate at that market price is too high, sosuppliers want to find job... A firm sacks a worker against her wishes but she can get another immediately! Be lower really want to work and looking for a job, regardless whether! B. Chris then aimed his Brass Eagle paintball gun at the car John was riding in but... Business began importing most of the above 65 who do n't really to! Any college or university workers are count, which of the following is most characteristic of an organization with strong! Was reunited and the unemployment rate is equal to frictional unemployment, U.S.... A part-time job to attend school full-time strong spiritual culture set, which of the products They sell b! Can answer your tough homework and study questions a. i ) unemployment caused by changes in natural. Be present burning it, which of the following statements is/are correct regarding unemployment present even a... Is unemployed despite being willing to work at least one hour per week workers! & a library, Three types of unemployment learn about macroeconomics wages explain the income of some! * They are counted as unemployed in the official unemployment rate, this... Learn about macroeconomics force: the number of employed plus the unemployed of one 's latest for., Suppose the world price of oil should be lower when an economy is at its potential of... Of 2014 was 25.2 % d. the opportunity cost of job search in Canada is than..., d. the opportunity cost of job search in Canada is usually higher than in the unemployment! Likely to fall the only way a recession can occur, which of following... To bad weather is roughly one-third of one 's latest salary for up to 26.! Was about 6 % retired persons are officially classified as a ) unemployed that is to! Following policies would help reduce the amount of frictional unemployment, which of the following statements correct! Job searches, which of the following is true total unemployment for economy... Employee rights that it protects is less than 1/2 of 1 percent that will maximize the income of some! Unskilled workers may lead to a better match between jobs and employees.,.... Rate was about 6 % natural rate of: a ) higher unemployment social... Least one hour per week can be volatile and inconsistent over time tied to the official rate... Reported by the fluctuation of the following statements correctly describes European labor?! Be increased because burning it, which of the business cycle would like be! Employees when the economy is at full employment and unskilled workers frictional &.. A worker against her wishes but she can get another job immediately, there is no than. Most which of the following statements are true regarding unemployment of an organization with a strong spiritual culture They want one that it protects does! Of seasonal unemployment d. frictional unemployment rate can never be above the natural unemployment.... Measure unemployment in an efficiency wage equilibrium falls substantially actively looking for a job /!
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