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.   retirees
C.   part-time workers
D.   sole proprietors
Question #2
Which group of people are not in the labor force?
A.   unemployed people looking for work
B.   homemakers
C.   part-time workers
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.   9.17%
D.   8.17%
Question #4
A person who does not have a job, but is actively looking for one is
A.   employed
B.   a discouraged worker
C.   not in the labor force
D.   unemployed
Question #5
A person with a graduate degree working in a minimum wage job is an example of
A.   an implicit contract
B.   underemployment
C.   unemployment
D.   a discouraged worker
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.   28,678,000 people
C.   1,783,772,000 people
D.   46,106,109 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.   flexible
B.   paid on time
C.   quick to adjust
D.   slow 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.   underemployment
D.   cyclical unemployment
Question #10
Unemployment benefits may keep the unemployment rate from falling because
A.   unemployment benefits create an incentive to not seek work
B.   unemployment benefits create an incentive to seek work
C.   the economy will recover quickly
D.   the economy will recover slowly

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