Front

The economy’s natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

Back

True

Front

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Back

True

Front

Minimum wage workers tend to be less educated.

Back

True

Front

Which of the following people are included in the labor force? Dean who worked without pay for his family’s business, Sam, a part-time worker, Cass who is not employed but has been looking for employment in the past four weeks.

Back

All of the above are counted in the labor force.

Front

In 2009, towards the end of the Great Recession, some people became discouraged and quit looking for work. Other things the same, as they quit looking for work, according to the BLS

Back

the labor force and the unemployment rate would both fall.

Front

In 1914, Henry Ford introduced the concept of a $5 workday (about twice the going wage). Which of the following happened? long lines of job seekers formed outside the Ford factories., turnover fell, absenteeism fell, and productivity rose., Ford’s production costs were lower despite higher wages., all of the above.

Back

all of the above.

Front

Marissa lost her job in the typewriter factory when her company went out of business because people quit buying typewriters substituting computers and printers instead. This represents…

Back

Frictional unemployment

Front

We would expect that, the more generous unemployment compensation a country has, …

Back

the longer the duration of each spell of unemployment, and the higher the unemployment rate.

Front

A stay at home mom is an example of someone who is unemployed.

Back

False

Front

Fred is not employed, is not looking for a job, and has no ambition to find a job. Is he unemployed?

Back

No