1.Households are interviewed by the U.S. Bureau of Labor Statisticseight times over two years, for the_______________ before leaving the sample permanently.

a. labor force participation count

b. Current Population Survey (CPS)

c. establishment payroll survey(EPS)

d. Gross Domestic Product calculation

2.Which of the following areexamples ofhidden unemployment?

Select thetwocorrect answers below

a. John is 15 years old and even though he wants to find summer job, he can't.

b. Lisa cannot find the job she wants so she has stopped looking.

c. Penny has a college degree in nursing, but currently has to work as a store clerk as it is the only available job in her small town.

d. Rita is working in the job of her dreams.

3.Supposethere are325

million working-age adults and295

million in the labor force. The Bureau of Labor Statistics is interested in this years labor participation rate.(round your answer to thenearest tenth)

4.If the size of the labor force is250.5

million, and243.5

million people are employed, what is the unemployment rate? Round your answer to the nearest tenth.

5.Which of the following correctly illustrates the efficiency wage theory?

a. A firm lowers wages for some of its workers, whichcauses some of its best employees to move to other companies.

b. A company pays its employees above market wage rates in order to reduce worker turnover.

c. A company refuses to lower wages because it needs its "insiders" to remain motivated to keep the company running.

d. A company rarely changes wages with the change in economic conditions, but will likely lay off workers when times are bad

6.Which of the following is cyclical unemployment?

a. John is fired for misconduct.

b. Laura lost her job when her bank closed during the financial crisis.

c. Marcos left his job in construction to find a better paid job in the same industry.

d. Lisa only works during the summer season as she is a farm worker.

7.Whichtwoof the following are included in the natural rate of unemployment?

a. recession unemployment

b. frictional unemployment

c. cyclical unemployment

d. structural unemployment

8.Which of the following statements about government policy and unemployment are true?

select 2 correct answer

a. Average unemployment benefits are equal to about one-half of the wage that the person earned in his or her previous job.

b. The federal government requires tax collection on the first$7,000

in wages paid to each worker.

c. An individual has to collect unemployment benefits to be classified as unemployed.

d. The funding for unemployment insuranceis a federal tax collected from employers.

9.Which of the following isnota reason why the natural rate of unemployment can change over time?

a. age-related demographic changes in the labor market

b. the natural business cycle of recessions and economic booms

c. the growth of the temporary worker industry

d. technological changes in the ways workers look for jobs

10.Which of the following people would not be consideredpart of the labor force?

a. Lane is working in his first job after high school at a fast food restaurant.

b. Peter lost his job in the recession and is unable to find a new job.

c. Cheng is unemployed and collecting unemployment benefits while searching for jobs.

d. Joan was laid off from her job but has decided not to look for another job right now as she wants to stay home with her kids for a while.

11.Which of the following categories are combined to encompass the entirelabor force?

select 2 answers

a. number of employed

b. number of unemployed

c. number not in the labor force

12.Which of the following people would be consideredunemployed?

a. Trent is a stay-at-home dad.

b. Lisa is not working currently as she is taking a year to travel.

c. Rosa has finished her degree and is looking for her first job as a college graduate.

d. all of the above

13.Which of the following is an example of an individual who is underemployed?

a. an individual who does not have a job but is looking for work

b. an individual who is discouraged because of not finding work

c. individuals who are not working and not looking for work

d. an individual who has a college degree in engineering but is working as a receptionist

14.Which of the following defines a discouraged worker?

a. an individual who is too young to be in the labor force

b. an individual who is actively seeking employment but has yet to secure a job

c. an individual who wants to work full time but can't find full time jobs, so is working part time

d. an individual who has been unable to find the job that he/she wants so has stopped looking for employment

15.The elderlywho do not have jobs often exit the labor force by retiring, and thus,______________ .

a. move in and out of jobs more often than middle-aged workers

b. have extremely low rates of unemployment

c. feel the responsibility of needing to have a job more heavily than middle-aged workers.

d. have high levels of unemployment