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What is the definition of "Working Age Population"?

• Number of people classified as employed or unemployed

• Total number of people in a country

• Number of people ages 16+

• Number of people who have worked at least 1 hour in the last 2 weeks

How is the "Labor Force Participation Rate" calculated?

• (Number of people classified as unemployed / Working Age Population) * 100

• (Civilian Labor Force / Working Age Population) * 100

• (Number of people classified as employed / Civilian Labor Force) * 100

• (Number of people classified as unemployed / Civilian Labor Force) * 100

Who are considered "Marginally Attached Workers"?

• People who have worked at least 1 hour in the last 2 weeks

• People not classified as employed but available for work

• People who exited the civilian labor force without finding employment

• People classified as either employed or unemployed

What is the "Actual Unemployment Rate" formula?

• (Number of people classified as unemployed / Civilian Labor Force) * 100

• (Civilian Labor Force / Working Age Population) * 100

• (Number of people classified as employed / Civilian Labor Force) * 100

• (Number of people classified as unemployed / Working Age Population) * 100

What type of unemployment is associated with voluntary job search?

• Structural Unemployment

• Cyclical Unemployment

• Frictional Unemployment

• Natural Rate of Unemployment

Which type of unemployment is caused by economic recession?

• Structural Unemployment

• Cyclical Unemployment

• Frictional Unemployment

• Natural Rate of Unemployment

What does "Discouraged Worker" refer to?

• People who have worked at least 1 hour in the last 2 weeks

• People who exited the civilian labor force without finding employment

• People not classified as employed but available for work

• People classified as either employed or unemployed

What is the "Natural Rate of Unemployment" (NRU)?

• Frictional rate of unemployment

• Structural rate of unemployment

• Cyclical rate of unemployment

• Unemployment rate at full employment output

What is the "Civilian Labor Force" composed of?

• People classified as either employed or unemployed

• Total number of people in a country

• Number of people ages 16+

• People who have worked at least 1 hour in the last 2 weeks

What is "Structural Unemployment" associated with?

• Voluntary job search

• Economic recession

• Mismatch between skills or geographic location

• Full employment output