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People with less education are more likely to be unemployed than people with more education less likely to be unemployed than people with more education

People with less education are more likely to be unemployed than people with more education less likely to be unemployed than people with more education

People with less education are:

A. more likely to be unemployed than people with more education.

B. less likely to be unemployed than people with more education.

C. just as likely to be unemployed than people with more education.

D. not comparable to people with more education.

22.The labor force participation rate:

A. is measured by the labor force divided by the working-age population.

B. tells us what fraction of the working-age population wants to be working.

C. typically falls during periods of recession.

D. All of these are true.

23.Economists report changes in unemployment in:

A. percentage points, not percentages.

B. percentages, not percentage points.

C. percentage points or percentages, interchangeably.

D. nominal figures, and rarely use percentages or percentage point changes.

24.The labor force participation rate:

A. tells us what fraction of the working-age population wants to be working, whether or not they actually have a job.

B. typically rises during times of recession, as more people need work.

C. is used as an indication of the health of the overall economy.

D. All of these are true.

25.During times of recession, the labor force participation rate typically:

A. rises, as more people need work.

B. rises, as more incomes per household are needed to make ends meet.

C. falls, as more people give up and stop looking for work.

D. falls, as more people cannot find work, they stay in jobs that aren't a good fit.

26.Some people drop out of the labor force during times of recession:

A. to go back to college, because the opportunity cost is lower during a recession.

B. because they cannot find work and give up trying.

C. and decide to take early retirement.

D. All of these are true.

27.In 2011, the labor force participation rate was 64 percent. This means that:

A. 64 percent of all working age people wanted a job.

B. there was 36 percent unemployment.

C. 64 percent of all working age people were employed.

D. All of these are correct interpretations of the labor force participation rate.

28.The unemployment rate may:

A. understate the effect of a recession on employment because some leave the labor force.

B. understate the effect of a recession on employment because many enter the labor force.

C. overstate the effect of a recession on employment because some leave the labor force.

D. overstate the effect of a recession on employment because many enter the labor force.

29.If you hear that unemployment increased in the last year by 3.5 percentage points to 8 percent it means:

A. 35 out of every 100 people lost their job in the last year.

B. 35 out of every 1,000 people lost their job in the last year.

C. 8 out of every 1,000 people who want a job can't find one.

D. 80 out of every 100 people who want a job can't find one.

30.If you hear that unemployment decreased by 2 percentage points to 6 percent in the past year, while the labor force participation rate remained constant, it means:

A. 2 out of every 10 people lost their job in the last year.

B. 20 out of every 1,000 unemployed persons found a job in the last year.

C. 2 out of every 100 people lost their job in the past year.

D. 2 out of every 100 unemployed persons found a job in the last year.

abhinav behal 15-Feb-2020

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