Question

Just answer dont need to explain

1. Which of the following is TRUE about the working-age population? It consists of two groups of people:
   1. in the labour force and people looking for work.
   2. in the labour force and people with a jo
   3. looking for work and those in the armed forces.
   4. in the labour force and people who are not in the labour force.
2. Country A has 100 unemployed and 1000 employed individuals. The working-age population is 1,400. Therefore, the labour force participation rate is:
   1. 71.4%
   2. 78.6%
   3. 100%
   4. 107%
3. Which of the following best describe an unemployed? A person who is:
   1. retired and not working.
   2. working less than a full work week.
   3. not working and looking for work.
   4. not working and not looking for work.
4. Natural rate of unemployment includes:
   1. frictional unemployment.
   2. frictional and structural unemployment.
   3. frictional, structural, and cyclical unemployment.
   4. none of the above.
5. Mike has been unemployed for over a year. He hasn't looked for a job in the last three months, but he's just started looking for work again. Because Mike started looking for a new job,
   1. the unemployment rate increased.
   2. the labor force participation rate decreased.
   3. the unemployment rate decreased.
   4. the working-age population increase

6. Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed persons is ________ and the new unemployment rate is ________.
   1. 100.1 million; 5.8 percent
   2. 100 million; 6.1 percent
   3. 94.1 million; 5.9 percent
   4. 93.9 million; 6.1 percent

Table E

Anna	Now that the kids are in school for a full day, Anna is looking for work and has interviewed for three jobs during the past two weeks.
Bobby	Bobby has been laid off from a job but expects to be called back as soon as the economy improves.
Cathy	Cathy has just graduated from college and will start a new job in three weeks. In the meantime, Cathy will tour the great American beaches.
Donald	Donald was laid off last year when new equipment was installed at the plant, reducing the number of workers needed. Shortly after being laid off, he looked for a new job, was unable to find one and then stopped looking, even though he still wants a job and is available for work.

7. Table E shows answers given by people interviewed in a government survey of households. Which individuals are considered to be a part of the labor force?
   1. Cathy and Donald
   2. Bobby, Cathy, and Donald
   3. Anna, Cathy, and Donald
   4. Anna, Bobby and Cathy
8. Table E shows answers given by people interviewed in a government survey of households. Which individuals are considered unemployed？
   1. Anna, Bobby, and Cathy
   2. Bobby, Cathy, and Donald
   3. Anna, Cathy, and Donald
   4. Cathy and Donald
9. Which of the following describe Frictional unemployment?
   1. unemployment associated with business cycle recessions
   2. unemployment associated with the changing of jobs in a changing economy
   3. long-term unemployment
   4. unemployment associated with declining industries

10. Suppose that over a period of years Country B switched from being an agriculturally-based economy to a technologically-based economy. As a result, many people lost jobs because they lacked the correct skills. As they search for new jobs, these people are part of:
    1. frictional unemployment.
    2. structural unemployment.
    3. cyclical unemployment.
    4. discouraged workers.

Answer 1

1 a) people who are in labor force and people who are looking for work ; as working population consists of people who are employed but along with the unemployed ones who are seeking for work

2. b) 78.6% ; the labor force participation rate = labor force ÷working age population i.e. (1000+100) ÷ 1400 = 78.6%

3 c) not working and is currently looking for work ; as one who is not looking for job does not require the job or needs it however an unemployed is one who does not have a job and is looking for it in prior 4 weeks and is currently in need for work

4. a) the unemployment rate has increased ; as earlier Mark was not looking for job therefore he was not part of unemployed people but now that he is seeking to work and is not finding making it part of unemployed force and an addition to it . Which rises the rate of the same.

5 c) 94.1 million , 5.9 percent ; new employed = old employed + net new employed i.e. old employed (labor force - unemployed : 100000000 - 6000000) 94000000 + net new employed (300000-200000) 100000 = 94100000 or 94.1 million and unemployment rate = new unemployed ÷ labor force × 100 i.e. new employed (6000000 - 100000) 5900000 ÷ 100000000 = 5.9 percent

6 c) Anna ,Cathy, Donald ; in labor force both comes who are employed and who are looking for job ; unlike other Bobby is waiting for the economy to improve which in itself is long work thereafter for long time and for unemployed also a person who is seeking work from prior 4 weeks or is not getting a job but is available for work does come in its category

7 c) Anna ,Cathy and Donald ; as first has given interview and is willing to work and waiting from last two weeks Cathy is willing to work and will join after 3 weeks and Donald though not searching but wants to work or is available for work thereafter as per definition of unemployed are those who are not having a job and is looking for same in prior 4 weeks and is available to work

8 b) unemployment associated with the changing jobs in a changing economy ; often known as search unemployment as it is the time taken by leaving one job and finding and getting other job this could be changes in voluntary employment transition in an economy

9 b) structural unemployment ; these happens due to changes in technology levels ,making the working skills of the current workers outdated and hence there skills can't match with the new advance technology

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