319 The unemployment rate is 317 318 320 Employment is the total labor force Incorrect the total population of working age Incorrect the total number of people actively working True Answer Correct the total number of people not unemployed Incorrect The labor force is the total of people employed Incorrect the total population Incorrect the total of the population of working age Incorrect the total of people employed and unemployed True Answer Correct the percent of the labor force that is unemployed True Answer Correct the number of people unemployed Incorrect the ratio of the labor force to the number of people unemployed Incorrect the average length of time someone is unemployed Incorrect To be counted as unemployed one must have had a job previously Incorrect be out of work and be actively looking for a job True Answer Correct have had a job before and be actively looking for work Incorrect be actively looking for a job and have at least a high school diploma or its equivalent Incorrect 321 The unemployment rate is the ratio of all of the people out of work to the total population Incorrect out of work to those over age 16 Incorrect 322 323 324 325 326 unemployed to those looking for work Incorrect unemployed to those in the labor force True Answer Correct If a country has a working age population of 200 million 135 million people with jobs and 15 million people unemployed and seeking employment then its unemployment rate is 4 Incorrect 7 5 Incorrect 10 True Answer Correct 67 5 Incorrect If a country has a working age population of 200 million 120 million people with jobs and 30 million people unemployed and seeking employment then its unemployment rate is 5 Incorrect 7 5 Incorrect 15 Incorrect 20 True Answer Correct If a country has a working age population of 200 million 135 million people with jobs and 15 million people unemployed and seeking employment then its labor force is 335 million Incorrect 200 million Incorrect 155 million Incorrect 150 million True Answer Correct The labor force is equal to the sum of employment and unemployment True Answer Correct population minus the number of employed Incorrect sum of the employed and the underemployed Incorrect number of people working in the economy Incorrect To be classified as unemployed a person must be not working Incorrect not working and actively looking for a job in the last four weeks True Answer Correct not working or working part time when he or she wishes to be working full time Incorrect not working and actively looking for a job in the last four weeks or discouraged and not actually looking for a job Incorrect 327 Which of the following statements is true The number of people not working but who have looked for work in the past year are unemployed Incorrect The labor force is the total number of people working plus those who are unemployed True Answer Correct The unemployment rate is the number of people unemployed expressed as a percentage of the population Incorrect The labor force is the same as the population Incorrect A person who is not working and is not looking for work is included in the unemployment rate Incorrect underemployed Incorrect a member of the labor force who is not working Incorrect not counted in the unemployment statistics True Answer Correct The labor force is considered to be everyone who is employed Incorrect everyone who is employed plus everyone who is unemployed True Answer Correct the population of the nation Incorrect those not frictionally unemployed plus all others employed Incorrect The statistics and data on unemployment are gathered and reported daily Incorrect weekly Incorrect monthly True Answer Correct yearly Incorrect 328 329 330 331 332 333 334 335 336 You are a college student and not working or looking for work You are unemployed Incorrect in the labor force but not employed Incorrect not part of the labor force True Answer Correct not described by any of the above Incorrect The percentage of the labor force that is unemployed is the labor force participation rate Incorrect employment ratio Incorrect unemployment rate True Answer Correct natural employment rate Incorrect A person without a job who is actively seeking and available for work is considered employed Incorrect unemployed True Answer Correct underemployed Incorrect marginally attached Incorrect A person who has no job but is looking for one is unemployed Incorrect a discouraged worker Incorrect part of the labor force Incorrect unemployed and part of the labor force True Answer Correct In order to be officially unemployed a person must be looking for work in the past four weeks True Answer Correct under 55 years old Incorrect frictionally unemployed Incorrect structurally unemployed Incorrect The rate of unemployment is found by dividing the number of people looking for work by the population Incorrect number of people looking for work by the number of people looking for work plus the number of people employed True Answer Correct labor force by the number of people looking for work Incorrect unemployed and discouraged workers by the labor force Incorrect A survey reveals that on a small island 40 people have jobs 10 people are looking for jobs and 30 people are neither working nor looking for work The unemployment rate on the island is 12 5 Incorrect 20 True Answer Correct 25 Incorrect 50 Incorrect A survey reveals that on a small island initially 40 people have jobs 10 people are looking for jobs and 30 people are neither working nor looking for work Suppose that 10 of the 30 people who weren t looking for work now begin looking for work There are now 20 people looking for work and 40 people working What happens to the unemployment rate It rises to 33 3 True Answer Correct It rises to 50 Incorrect It falls to 25 Incorrect Nothing happens to the unemployment rate because these people weren t working before and they aren t working now Incorrect A survey reveals that on a small island 100 people have jobs 25 people are looking for jobs and 45 people are neither working nor looking for work The unemployment rate on the island is 12 5 Incorrect 20 True Answer Correct 25 Incorrect 50 Incorrect A survey reveals that on a small island initially 100 people have jobs 25 people are looking for jobs and 45 people are neither working nor looking for work Suppose that 15 of the 45 people who weren t looking for work now begin looking for work 337 338 339 340 There are now 40 people looking for work and 100 people working
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