During the great recession of the 2008, many laborers found great difficulty finding work. They were classified as:

Group of answer choices

Frictionally unemployed

Discouraged worker

Structurally unemployed

Employed

Cyclically unemployed

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Question 2

1 pts

Working as an elevator operator used to be a common job in the workforce four decades ago, but today few jobs remain. The unemployment created by the introduction of automatic elevators would be considered as:

Group of answer choices

Cyclically unemployed

Structurally unemployed

Discouraged worker

Employed

Frictionally unemployed

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Question 3

1 pts

Joe lost his job a year ago. He would take a job if one became available, but he hasn’t looked for a job in the past 3 months. Joe’s classification is:

Group of answer choices

Employed

Discouraged worker

Structurally unemployed

Cyclically unemployed

Frictionally unemployed

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Question 4

1 pts

A 22 year-old college graduate who wants to work full-time, but was unable to find a full-time job, and accepts a part-time job. He is classified as:

Group of answer choices

Structurally unemployed

Frictionally unemployed

Discouraged worker

Employed

Cyclically unemployed

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Question 5

1 pts

Sebastien is working on his Dad’s farm four hours a day without any pay while looking for a job. He is classified as:

Group of answer choices

Frictionally unemployed

Cyclically unemployed

Employed

Structurally unemployed

Discouraged worker

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Question 6

1 pts

The data of a hypothetical country is given as: total population, 600; population under 16 years of age 50; institutionalized 50; not in labor force, 150; unemployed, 21; part-time workers looking for full-time jobs, 40. The size working-age population is:

Group of answer choices

500

450

550

600

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Question 7

1 pts

 The data of a hypothetical country is given as: total population, 600; population under 16 years of age 50; institutionalized 50; not in labor force, 150; unemployed, 21; part-time workers looking for full-time jobs, 40. Labor force participation rate is:

Group of answer choices

75%

70%

82%

90%

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Question 8

1 pts

The data of a hypothetical country is given as: total population, 600; population under 16 years of age 50; institutionalized 50; not in labor force, 150; unemployed, 21; part-time workers looking for full-time jobs, 40. The official unemployment rate is:

Group of answer choices

15%

9%

6%

12%

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Question 9

1 pts

If the Consumer Price Index was 100 in one year and 105 in the next year, then the rate of inflation from one year to the next was:

Group of answer choices

6.0%

10.0%

5.0%

4.8%

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Question 10

1 pts

Increase in the purchasing power or decrease in price level is known as:

Group of answer choices

Hyperinflation

Deflation

Disinflation

Cost-push inflation

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