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

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