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

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