ECON CH. 8 Flashcard Example #8733

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The unemployment rate is the ratio of all of the people:
unemployed to those in the labor force.
A person who has no job but is looking for one is:
unemployed and part of the labor force.
A survey reveals that on a small island 100 people have jobs, 25 people are not working but are looking for jobs, and 45 people are neither working nor looking for work. The unemployment rate on the island is:
20%
Jim has a part-time job and would prefer to have a full-time job but has been unable to find one. Jim is classified as:
underemployed.
If the growth rate of GDP is above its historical average, then there is a tendency for the unemployment rate to:
fall.
Anna recently moved to Boston, as her husband, Joe, has a new job as an economics professor at Harvard. Anna is an experienced surgeon who is interviewing with several hospitals in Boston. Anna is:
frictionally unemployed.
An example of the frictionally unemployed is a(n):
real estate agent who leaves a job in Texas and searches for a similar higher-paying job in California.
When the demand for labor is falling and employers have committed to high wages, _____ unemployment will result.
structural
Natural unemployment equals _____ unemployment plus _____ unemployment.
frictional; structural
As the average age of the labor force increased from the end of the 1970s to the end of the 1990s, the natural rate of unemployment:
decreased.
Which pair of policies is likely to reduce the natural rate of unemployment?
job training and employment subsidies
Unanticipated inflation does all of the following EXCEPT:
cause disinflation.
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