Macroeconomics Final 100%
VERIFIED QUESTIONS
The Bureau of Labor Statistics reported the following data for August 2017August 2017.
Labor force: 160,571
Employed: 153,439
Working-age population: 255,357
Use the above data to calculate for August 2017August 2017: >>> Unemployment rate: 4.4 percent
Labor force participation rate: 62.9 percent
Employment to population ratio: 60.1 percent
In August 2016, the U.S. unemployment rate was 4.9 percent.
In August 2017, the unemployment rate was 4.4 percent.
Assuming that the labor force remained constant between August 2016 and August 2017, then
unemployment _______. >>> decreased
The table above and graph to the right provide information about the U.S. labor market in August, 2017.
In August, 2017, the unemployment rate in the United States was >>> 4.4%
The table above and graph to the right provide information about the U.S. labor market in August, 2017.
In August, 2017, the labor force participation rate in the United States was >>> 62.9%
The table above provides information about the U.S. labor market in August, 2016, July, 2017, and
August, 2017. The graph shows the unemployment rate since August, 2012.
In August, 2017 the number employed
decreased
and the unemployment rate
increased
,.
Over the year since August, 2016 the number employed
increased
and the unemployment rate
decreased
.
The change in the unemployment rate over the past year suggests that the U.S. economy ______. >>>
was in expansion
The graph to the right shows the data on the differences between various unemployment rate
measures.
Match each variable with its correct description. >>> U6 dash- U5
"economic part-time workers"
U3 dash- U1
"unemployed for less than 15 weeks"
U5 dash- U3
"all marginally attached workers"
U4 dash- U3
"discouraged workers"
A Half-Year of Job Losses
Read the news clip, then answer the following question.
According to the news clip, the main source of increased unemployment might be ______, and the main
type of increased unemployment is ______. >>> losses in manufacturing and construction jobs;
cyclical
Out of a Job and Out of Luck at 54
Older workers are more prone to experience ______ unemployment.
During a recession, the unemployment rate of older workers ______. >>> structural; increases
,Out of a Job and Out of Luck at 54
Choose the statement that is incorrect.
Older unemployed workers might become marginally attached workers or discouraged workers during a
recession because _______. >>> given their long employment history, they are eligible for longer
periods of unemployment benefits
Governor Plans to Boost Economy with Ecofriendly Jobs
The main type of unemployment that Governor Kulongoski is using policies to avoid is ______. >>>
frictional and structural
Governor Plans to Boost Economy with Ecofriendly Jobs
f these policies are successful, we would expect to see Oregon's natural unemployment rate ______.
>>> fall
The unemployment rate peaked ______ after the 2001 recession.
During the 2002-2008 recession, the unemployment rate reached its lowest point at the beginning of
______. >>> 18 months; 2007
The expansion of 2002-2008 created jobs at ______ rate.
The first two years of the expansion created few jobs because ______. >>> an unusually slow;
the expansion was very weak, so employment growth was weak
The slow job growth and rise in unemployment after mid-2007 is most likely ______. >>> cyclical
Choose the statement that is incorrect. >>> The U.S. government cannot create jobs. Jobs are created
by the private sector.
Unemployment arises for all of the following reasons except ______. >>> people leave the labor force
Some unemployment is unavoidable because ______. >>> people are making transitions through the
stages of life and businesses are making transitions
Choose the correct statements.
1. The unemployment that arises when changes in technology or international competition change the
skillsThe unemployment that arises when changes in technology or international competition change
the skills needed to perform jobs or change the locations of jobs is cyclical unemployment.needed to
perform jobs or change the locations of jobs is cyclical unemployment.
2. The unemployment that arises from normal labor turnover is cyclical unemployment.The
unemployment that arises from normal labor turnover is cyclical unemployment. nothing
, 3. Upper A worker who is laid off because of the recent recession is cyclically unemployed.A worker who
is laid off because of the recent recession is cyclically unemployed. nothing
4. When a steel plant becomes more automated and workers lose their jobs comma the workers are
structurally unemployed.When a steel plant becomes more automated and workers lose their jobs, the
workers are structurally unemployed. nothing >>> Statements 3 and 4 are correct.
In August 2017, the U.S. the unemployment rate was ______ the natural unemployment rate and in the
second quarter of 2017 the output gap was ______. >>> .
below; negative
Classify each of the following into the appropriate category of unemployment. Your choices are:
Frictional
Cyclical
Structural
Seasonal
Not unemployed
a. An unemployed auto assembly line worker during a sales slump.
b. A snow plow driver during the summer.
c. A record player repairman who has not learned the latest laser disk player repair technology.
d. A computer programmer who quits his job to look for a job with better benefits.
e. A high school dropout with few skills who has been looking for a job unsuccessfully for weeks.
f. A person who leaves their job to attend graduate school full time.
g. A recent business school graduate looking for her first job.
h. A person whose job has been automated out of existence.
i. A vendor who sells beer at major league baseball games during the winter months.
j. A welder who finds that robots have replaced most of the welding jobs on assembly lines.
k. A top salesman for a computer company who quit because he did not like his boss.
l. A parent who quit to care for his or her child at home. This person has removed themself from the
labor force >>> a. cyclical
VERIFIED QUESTIONS
The Bureau of Labor Statistics reported the following data for August 2017August 2017.
Labor force: 160,571
Employed: 153,439
Working-age population: 255,357
Use the above data to calculate for August 2017August 2017: >>> Unemployment rate: 4.4 percent
Labor force participation rate: 62.9 percent
Employment to population ratio: 60.1 percent
In August 2016, the U.S. unemployment rate was 4.9 percent.
In August 2017, the unemployment rate was 4.4 percent.
Assuming that the labor force remained constant between August 2016 and August 2017, then
unemployment _______. >>> decreased
The table above and graph to the right provide information about the U.S. labor market in August, 2017.
In August, 2017, the unemployment rate in the United States was >>> 4.4%
The table above and graph to the right provide information about the U.S. labor market in August, 2017.
In August, 2017, the labor force participation rate in the United States was >>> 62.9%
The table above provides information about the U.S. labor market in August, 2016, July, 2017, and
August, 2017. The graph shows the unemployment rate since August, 2012.
In August, 2017 the number employed
decreased
and the unemployment rate
increased
,.
Over the year since August, 2016 the number employed
increased
and the unemployment rate
decreased
.
The change in the unemployment rate over the past year suggests that the U.S. economy ______. >>>
was in expansion
The graph to the right shows the data on the differences between various unemployment rate
measures.
Match each variable with its correct description. >>> U6 dash- U5
"economic part-time workers"
U3 dash- U1
"unemployed for less than 15 weeks"
U5 dash- U3
"all marginally attached workers"
U4 dash- U3
"discouraged workers"
A Half-Year of Job Losses
Read the news clip, then answer the following question.
According to the news clip, the main source of increased unemployment might be ______, and the main
type of increased unemployment is ______. >>> losses in manufacturing and construction jobs;
cyclical
Out of a Job and Out of Luck at 54
Older workers are more prone to experience ______ unemployment.
During a recession, the unemployment rate of older workers ______. >>> structural; increases
,Out of a Job and Out of Luck at 54
Choose the statement that is incorrect.
Older unemployed workers might become marginally attached workers or discouraged workers during a
recession because _______. >>> given their long employment history, they are eligible for longer
periods of unemployment benefits
Governor Plans to Boost Economy with Ecofriendly Jobs
The main type of unemployment that Governor Kulongoski is using policies to avoid is ______. >>>
frictional and structural
Governor Plans to Boost Economy with Ecofriendly Jobs
f these policies are successful, we would expect to see Oregon's natural unemployment rate ______.
>>> fall
The unemployment rate peaked ______ after the 2001 recession.
During the 2002-2008 recession, the unemployment rate reached its lowest point at the beginning of
______. >>> 18 months; 2007
The expansion of 2002-2008 created jobs at ______ rate.
The first two years of the expansion created few jobs because ______. >>> an unusually slow;
the expansion was very weak, so employment growth was weak
The slow job growth and rise in unemployment after mid-2007 is most likely ______. >>> cyclical
Choose the statement that is incorrect. >>> The U.S. government cannot create jobs. Jobs are created
by the private sector.
Unemployment arises for all of the following reasons except ______. >>> people leave the labor force
Some unemployment is unavoidable because ______. >>> people are making transitions through the
stages of life and businesses are making transitions
Choose the correct statements.
1. The unemployment that arises when changes in technology or international competition change the
skillsThe unemployment that arises when changes in technology or international competition change
the skills needed to perform jobs or change the locations of jobs is cyclical unemployment.needed to
perform jobs or change the locations of jobs is cyclical unemployment.
2. The unemployment that arises from normal labor turnover is cyclical unemployment.The
unemployment that arises from normal labor turnover is cyclical unemployment. nothing
, 3. Upper A worker who is laid off because of the recent recession is cyclically unemployed.A worker who
is laid off because of the recent recession is cyclically unemployed. nothing
4. When a steel plant becomes more automated and workers lose their jobs comma the workers are
structurally unemployed.When a steel plant becomes more automated and workers lose their jobs, the
workers are structurally unemployed. nothing >>> Statements 3 and 4 are correct.
In August 2017, the U.S. the unemployment rate was ______ the natural unemployment rate and in the
second quarter of 2017 the output gap was ______. >>> .
below; negative
Classify each of the following into the appropriate category of unemployment. Your choices are:
Frictional
Cyclical
Structural
Seasonal
Not unemployed
a. An unemployed auto assembly line worker during a sales slump.
b. A snow plow driver during the summer.
c. A record player repairman who has not learned the latest laser disk player repair technology.
d. A computer programmer who quits his job to look for a job with better benefits.
e. A high school dropout with few skills who has been looking for a job unsuccessfully for weeks.
f. A person who leaves their job to attend graduate school full time.
g. A recent business school graduate looking for her first job.
h. A person whose job has been automated out of existence.
i. A vendor who sells beer at major league baseball games during the winter months.
j. A welder who finds that robots have replaced most of the welding jobs on assembly lines.
k. A top salesman for a computer company who quit because he did not like his boss.
l. A parent who quit to care for his or her child at home. This person has removed themself from the
labor force >>> a. cyclical
