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ECON 200 UOFA Final Exam Version 2 Newest 2026/2027
Complete 100 Questions And Correct Answers (Verified
Answers) |Already Graded A+||Just Out!!!
31) Suppose the relevant population (non-institutionalized, at
least age 16) of Wildcat Nation is 10,000. Of this population,
5,000 are employed, 2,000 have never worked and are not
looking for work, 2,000 are not working and are looking for
work, and 1,000 have retired.
(b) What is the unemployment rate in Wildcat Nation? -
ANSWER-: 2,000/7,000 = 28.5%
(31) Suppose the relevant population (non-institutionalized, at
least age 16) of Wildcat Nation is 10,000. Of this population,
5,000 are employed, 2,000 have never worked and are not
looking for work, 2,000 are not working and are looking for
work, and 1,000 have retired.
(c) What is Wildcat Nations's labor force participation rate? -
ANSWER-Answer: 7,000/10,000 = 70%
(a) If the number of discouraged workers increases, what
happens to the labor force participation rate? - ANSWER-Drops
(fewer workers either employed or unemployed)
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(b) If the number of discouraged workers increases, what
happens to the unemployment rate? - ANSWER-Drops (these
people are no longer counted as unemployed)
Suppose the relevant population (non-institutionalized, at least
age 16) of Sierra Vista, AZ is 6,000. Of this population, 3,000 are
employed, 1,000 have never worked and are not looking for
work, 1,000 are not working and are looking for work, and
1,000 have retired.
(a) What is the size of the labor force in Sierra Vista? - ANSWER-
4,000
(33) Suppose the relevant population (non-institutionalized, at
least age 16) of Sierra Vista, AZ is 6,000. Of this population,
3,000 are employed, 1,000 have never worked and are not
looking for work, 1,000 are not working and are looking for
work, and 1,000 have retired.
(b) What is the unemployment rate in Sierra Vista? - ANSWER-
1,000/4,000 = 25%
(33) Suppose the relevant population (non-institutionalized, at
least age 16) of Sierra Vista, AZ is 6,000. Of this population,
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3,000 are employed, 1,000 have never worked and are not
looking for work, 1,000 are not working and are looking for
work, and 1,000 have retired.
(c) What is Sierra Vista's labor force participation rate? -
ANSWER-Answer: 4,,000 = 66.67%
(34) Bob is a highly qualified worker who is unemployed but
looking for work. His expertise is in a small field and new jobs
only open up sporadically. While he is waiting for one of those
openings he is considered:
(a) structurally unemployed.
(b) frictionally unemployed.
(c) underemployed.
(d) a discouraged worker. - ANSWER-(b) frictionally
unemployed.
(35) If a jobless person who had given up searching suddenly
resumed active search for paying jobs—but had not yet found
any—the unemployment rate would:
(a) Rise
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(b) Fall
(c) Stay the same
(d) More information is needed - ANSWER-rise
36) If cyclical unemployment is eliminated in the economy,
then:
(a) the economy is considered to be at full employment.
(b) the unemployment rate is below the natural rate of
unemployment.
(c) the unemployment rate is above the natural rate of
unemployment.
(d) the economy is at less than full employment. - ANSWER-the
economy is considered to be at full employment
The unemployment rate reported by the media is known as U-3.
Broader measures of unemployment include people who are
marginally connected to the workforce. Those broader
measures indicate that the true level of unemployment and
underemployment is close to
(a) 5%.
ECON 200 UOFA Final Exam Version 2 Newest 2026/2027
Complete 100 Questions And Correct Answers (Verified
Answers) |Already Graded A+||Just Out!!!
31) Suppose the relevant population (non-institutionalized, at
least age 16) of Wildcat Nation is 10,000. Of this population,
5,000 are employed, 2,000 have never worked and are not
looking for work, 2,000 are not working and are looking for
work, and 1,000 have retired.
(b) What is the unemployment rate in Wildcat Nation? -
ANSWER-: 2,000/7,000 = 28.5%
(31) Suppose the relevant population (non-institutionalized, at
least age 16) of Wildcat Nation is 10,000. Of this population,
5,000 are employed, 2,000 have never worked and are not
looking for work, 2,000 are not working and are looking for
work, and 1,000 have retired.
(c) What is Wildcat Nations's labor force participation rate? -
ANSWER-Answer: 7,000/10,000 = 70%
(a) If the number of discouraged workers increases, what
happens to the labor force participation rate? - ANSWER-Drops
(fewer workers either employed or unemployed)
,2|Page
(b) If the number of discouraged workers increases, what
happens to the unemployment rate? - ANSWER-Drops (these
people are no longer counted as unemployed)
Suppose the relevant population (non-institutionalized, at least
age 16) of Sierra Vista, AZ is 6,000. Of this population, 3,000 are
employed, 1,000 have never worked and are not looking for
work, 1,000 are not working and are looking for work, and
1,000 have retired.
(a) What is the size of the labor force in Sierra Vista? - ANSWER-
4,000
(33) Suppose the relevant population (non-institutionalized, at
least age 16) of Sierra Vista, AZ is 6,000. Of this population,
3,000 are employed, 1,000 have never worked and are not
looking for work, 1,000 are not working and are looking for
work, and 1,000 have retired.
(b) What is the unemployment rate in Sierra Vista? - ANSWER-
1,000/4,000 = 25%
(33) Suppose the relevant population (non-institutionalized, at
least age 16) of Sierra Vista, AZ is 6,000. Of this population,
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3,000 are employed, 1,000 have never worked and are not
looking for work, 1,000 are not working and are looking for
work, and 1,000 have retired.
(c) What is Sierra Vista's labor force participation rate? -
ANSWER-Answer: 4,,000 = 66.67%
(34) Bob is a highly qualified worker who is unemployed but
looking for work. His expertise is in a small field and new jobs
only open up sporadically. While he is waiting for one of those
openings he is considered:
(a) structurally unemployed.
(b) frictionally unemployed.
(c) underemployed.
(d) a discouraged worker. - ANSWER-(b) frictionally
unemployed.
(35) If a jobless person who had given up searching suddenly
resumed active search for paying jobs—but had not yet found
any—the unemployment rate would:
(a) Rise
, 4|Page
(b) Fall
(c) Stay the same
(d) More information is needed - ANSWER-rise
36) If cyclical unemployment is eliminated in the economy,
then:
(a) the economy is considered to be at full employment.
(b) the unemployment rate is below the natural rate of
unemployment.
(c) the unemployment rate is above the natural rate of
unemployment.
(d) the economy is at less than full employment. - ANSWER-the
economy is considered to be at full employment
The unemployment rate reported by the media is known as U-3.
Broader measures of unemployment include people who are
marginally connected to the workforce. Those broader
measures indicate that the true level of unemployment and
underemployment is close to
(a) 5%.
