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.   sole proprietors
B.   part-time workers
C.   a person who works for free in a family business
D.   retirees
Question #2
Which group of people are not in the labor force?
A.   part-time workers
B.   unemployed people looking for work
C.   contract workers
D.   homemakers
Question #3
There are currently 2183.6 thousand people unemployed and 17845.90 thousand people employed in Canada. What is the unemployment rate?
A.   9.17%
B.   12.20%
C.   10.90%
D.   8.17%
Question #4
A person who does not have a job, but is actively looking for one is
A.   a discouraged worker
B.   unemployed
C.   employed
D.   not in the labor force
Question #5
A person with a graduate degree working in a minimum wage job is an example of
A.   underemployment
B.   unemployment
C.   a discouraged worker
D.   an implicit contract
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.   frictional unemployment
B.   cyclical unemployment
C.   structural unemployment
D.   underemployment
Question #8
Sticky wages occur when wages are
A.   flexible
B.   slow to adjust
C.   paid on time
D.   quick to adjust
Question #9
When unemployment falls when the economy grows and rises when the economy contracts, this is called
A.   underemployment
B.   the natural rate of unemployment
C.   frictional unemployment
D.   cyclical unemployment
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 not seek work
C.   unemployment benefits create an incentive to seek work
D.   the economy will recover slowly

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