Econ 102 - Principles of Macroeconomics » Spring 2022 » Ch 8 Reading Quiz

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Question #1
All of these are considered employed except
A.   part-time workers
B.   a person who works for free in a family business
C.   retirees
D.   sole proprietors
Question #2
Which group of people are not in the labor force?
A.   unemployed people looking for work
B.   part-time workers
C.   homemakers
D.   contract workers
Question #3
There are currently 2183.6 thousand people unemployed and 17845.90 thousand people employed in Canada. What is the unemployment rate?
A.   12.20%
B.   10.90%
C.   8.17%
D.   9.17%
Question #4
A person who does not have a job, but is actively looking for one is
A.   employed
B.   unemployed
C.   not in the labor force
D.   a discouraged worker
Question #5
A person with a graduate degree working in a minimum wage job is an example of
A.   underemployment
B.   an implicit contract
C.   a discouraged worker
D.   unemployment
Question #6
In South Korea, there are 1,038,000 unemployed and 27,640,000 employed persons. The labor force participation rate is 62.2%. What is the adult population of South Korea?
A.   46,106,109 people
B.   28,678,000 people
C.   461,061 people
D.   1,783,772,000 people
Question #7
When individuals are out of work because their particular skills have become obsolete, this is called
A.   cyclical unemployment
B.   structural unemployment
C.   underemployment
D.   frictional unemployment
Question #8
Sticky wages occur when wages are
A.   slow to adjust
B.   paid on time
C.   flexible
D.   quick to adjust
Question #9
When unemployment falls when the economy grows and rises when the economy contracts, this is called
A.   cyclical unemployment
B.   the natural rate of unemployment
C.   frictional unemployment
D.   underemployment
Question #10
Unemployment benefits may keep the unemployment rate from falling because
A.   unemployment benefits create an incentive to not seek work
B.   the economy will recover quickly
C.   unemployment benefits create an incentive to seek work
D.   the economy will recover slowly

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