ECN 1500 – FiNal QUESTioNS aND CorrECT aNSWErS (vEriFiED) |
laTEST UPDaTE 2026/2027 | graDED a+ | BraND NEW | 100%
gUaraNTEED PaSS
How often does the BLS produce employment data? - aNSWEr-Monthly
If I go to school full-time and work at a restaurant at nights to help pay for school, how
would I be categorized by the BLS? - aNSWEr-Employed
Consider a labor force of 45,000 with a 16% unemployment rate, find E. - aNSWEr-
37,800
The natural rate of unemployment represents the most current rate of unemployment. -
aNSWEr-False
Unemployment numbers are generally attributable to a majority of workers who are
unemployed for long periods of time. - aNSWEr-False
Sectoral shifts cause structural unemployment. - aNSWEr-False
What is an example of when the government can cause an increase in frictional
unemployment? - aNSWEr-Unemployment insurance
If my unemployment insurance ends in 3 months, when am I most likely to find a job? -
aNSWEr-about 3 months from now
A wage above the equilibrium wage will cause a(n) - aNSWEr-surplus of labor
Why might a firm choose to pay a higher than market wage? - aNSWEr-encourage
workers to work harder
, I got fired from my job 4.5 weeks ago. I took that whole time to take a trip to Europe and
just got home today. What am I according to the BLS? - aNSWEr-Unemployed
If the labor-force participation rate is greater than or equal to 63%, which of these could
be the unemployment rate? - aNSWEr-20%
Employment and unemployment are easily measured. - aNSWEr-False
Cyclical unemployment refers to the cycle of long-term unemployment. - aNSWEr-False
Since 2007, the labor-force participation rate has _____. - aNSWEr-
Most all economists agree that unemployment benefits are a bad policy. - aNSWEr-
False
When unemployment is the result of a labor surplus, we call it _____. - aNSWEr-
Structural unemployment
Generally speaking, the creation of a union in a particular company will benefit all
workers in the company. - aNSWEr-False
While searching for a job, I turn down a few offers in favor of a potential offer that better
fits my background as an electrician. During my period of unemployment, I would be
considered frictionally unemployed. - aNSWEr-True
Although policies vary, economists generally always agree on policy implementation
and effectiveness. - aNSWEr-False
How are entrepreneurs able to finance their ventures? - aNSWEr-Savings
Generally speaking, someone who enters the bond market with cash in hand is looking
to raise capital for a business. - aNSWEr-False
laTEST UPDaTE 2026/2027 | graDED a+ | BraND NEW | 100%
gUaraNTEED PaSS
How often does the BLS produce employment data? - aNSWEr-Monthly
If I go to school full-time and work at a restaurant at nights to help pay for school, how
would I be categorized by the BLS? - aNSWEr-Employed
Consider a labor force of 45,000 with a 16% unemployment rate, find E. - aNSWEr-
37,800
The natural rate of unemployment represents the most current rate of unemployment. -
aNSWEr-False
Unemployment numbers are generally attributable to a majority of workers who are
unemployed for long periods of time. - aNSWEr-False
Sectoral shifts cause structural unemployment. - aNSWEr-False
What is an example of when the government can cause an increase in frictional
unemployment? - aNSWEr-Unemployment insurance
If my unemployment insurance ends in 3 months, when am I most likely to find a job? -
aNSWEr-about 3 months from now
A wage above the equilibrium wage will cause a(n) - aNSWEr-surplus of labor
Why might a firm choose to pay a higher than market wage? - aNSWEr-encourage
workers to work harder
, I got fired from my job 4.5 weeks ago. I took that whole time to take a trip to Europe and
just got home today. What am I according to the BLS? - aNSWEr-Unemployed
If the labor-force participation rate is greater than or equal to 63%, which of these could
be the unemployment rate? - aNSWEr-20%
Employment and unemployment are easily measured. - aNSWEr-False
Cyclical unemployment refers to the cycle of long-term unemployment. - aNSWEr-False
Since 2007, the labor-force participation rate has _____. - aNSWEr-
Most all economists agree that unemployment benefits are a bad policy. - aNSWEr-
False
When unemployment is the result of a labor surplus, we call it _____. - aNSWEr-
Structural unemployment
Generally speaking, the creation of a union in a particular company will benefit all
workers in the company. - aNSWEr-False
While searching for a job, I turn down a few offers in favor of a potential offer that better
fits my background as an electrician. During my period of unemployment, I would be
considered frictionally unemployed. - aNSWEr-True
Although policies vary, economists generally always agree on policy implementation
and effectiveness. - aNSWEr-False
How are entrepreneurs able to finance their ventures? - aNSWEr-Savings
Generally speaking, someone who enters the bond market with cash in hand is looking
to raise capital for a business. - aNSWEr-False
