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Consider an economy made up of 100 people 60 of whom hold jobs 10 of whom are

Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are
                            looking for work, and 15 of whom are retired. The number of people in the labor force is

a.30

b.60

c.85

d.90

e.70

102.              Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are
                            looking for work, and 15 of whom are retired. The number counted as unemployed is

a.10

b.15

c.40

d.30

e.90

103.              Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are
                            looking for work, and 15 of whom are retired. The unemployment rate is approximately

a.10 percent

b.12 percent

c.17 percent

d.20 percent

e.25 percent

104.              The unemployment rate as determined by the BLS will increase whenever there is a(n)

a.increase in the number of persons classified as underemployed

b.increase in the number of unemployed persons while the size of the labor force
remains unchanged

c.increase in both the number of unemployed and the size of the labor force

d.reduction in the size of the labor force

e.reduction in both the size of the labor force and the number of unemployed

105.              Suppose u = unemployed and seeking work; e = those employed; and nlf = those in the
                            population but not in the labor force. According to the BLS, the unemployment rate is

a.u/(e + nlf)

b.u/e

c.u/(u + e)

d.u/(e + nlf)

e.u/(u + e - nlf)

106.              A discouraged worker is one who

a.is underqualified for the current job

b.dislikes the current job but is afraid to quit

c.after a lengthy unsuccessful attempt to find a job drops out of the labor force

d.quits his/her job because the possibility of advancement was very low

e.is overqualified for the current job

107.              Whom does the Bureau of Labor Statistics include in the discouraged worker category?

a.those who are neither disabled, employed nor seeking employment

b.labor force members who have chosen early retirement because they dislike their
work or think the pay is too low

c.people who tried unsuccessfully to find a job and aren’t searching for a job any
longer

d.members of the labor force who are looking for a job but cannot find one

e.anyone in the population who is not working

108.              Exclusion by the BLS of which of the following tends to understate the measure of
                            unemployment in the economy?

a.children

b.retired persons

c.students

d.people who do not want to work

e.discouraged workers

109.              If the president claims that more people are working now than ever before, then which of
                            the following must be true?

a.The unemployment rate is lower now than ever before.

b.The number of people unemployed is lower now than ever before.

c.The employment rate is higher now than ever before.

d.The number of people in the labor force is higher now than ever before.

e.The number of people employed is higher now than ever before.

110.              Suppose the unemployment rate remained unchanged at 10 percent from 1999 through
                            2001. We can conclude that

a.the same 10 percent of the people in the economy were out of work during the 1999–
2001 period

b.one of every 10 people in the labor force was unemployed during the 1999–2001
period

c.the same 10 percent of the people in the labor force were out of work during the
1999–2001 period

d.people in the labor force were out of work for 10 percent of the 1999–2001 period

e.10 percent of the people in the economy were out of work for 10 percent of the 1999–
2001 period

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