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QUESTION 1 10 points Save Answer Use the total unfilled job vacancies for the United States (LMJVTTUVUSM647S) and the unemployment level (UNEMPLOY) to construct a graph of the job-vacancy-to- unemployment ratio (V/U) from December 2000-present (Use LINE 1 only). NOTE: You will need to change the frequency of data for the job vacancy and total unemployed persons from "Monthly" to "Quarterly" (select "Average" as the aggregation method); you can edit the date range for the graph by typing "2000-12-01" in the starting date range found above the graphic in FRED or move the slider below the graph. When calculating the formula for job vacancies to unemployed persons, make sure to multiply the number of unemployed persons by one thousand (1,000) because the variable is reported in "Thousands of Persons." Attach File Browse Local Files QUESTION 2 10 points Save Answer Which of the following statements best describes the job vacancy-to-unemployment ratio? O Before 2018, the number of vacancies was generally less than the number of unemployed workers. O There are fewer job vacancies for unemployed workers now than in the past. O In 2022, the number of available job vacancies is nearly two (2) times more than unemployed workers. O (a) and (c) O All of the above. QUESTION 3 10 points Save Answer The job vacancy-to-unemployment ratio (V/U) tends to increase during expansionary periods (white/unshaded regions). O True O FalseQUESTION 4 10 points Save Answer The ratio of job vacancies to the number of unemployed persons (V/U) was (increasing/decreasing/constant) before the COVID-19 Pandemic (2020-2021) and became (greater than/less than) one (1.0) for the first time, so there were (more/less/the same number of) job vacancies as there were unemployed workers. QUESTION 5 10 points Save Answer Use the labor-force-participation (C/VPART) and employment-to-population (EMRATIO) ratios to create a graph from 1948-present (use LINE 1 and LINE 2). Attach File Browse Local Files QUESTION 6 10 points Save Answer On average over time, approximately what fraction of the population is in the labor force (i.e., either employed or unemployed)? O All of it (1/1), essentially 100 percent O One quarter (1/4), roughly 20-30 percent. O Two-thirds (2/3), roughly 60-68 percent. O Half (1/2), roughly 50 percent. QUESTION 7 10 points Save Answer From the 1950s to the 1990s, both the labor force participation ratio (LF/Pop) and employment-to-population ratio (E/Pop) (increased/decreased/stayed about the same). Since the 1990s, both ratios have (increased/decreased/stayed about the same).QUESTION 8 10 points Save Answer What does the difference between (LF/Pop) and (E/Pop) represent in terms of the composition of people in the labor force? O The percentage of people who exit the labor force (EX/Pop) O The percentage of people who retired from work (RET/Pop) The percentage of people who don't want to work (NW/Pop) The percentage of unemployed people in the population (U/Pop) QUESTION 9 10 points Save Answer The gray bars in the graph represent recessions, periods when GDP typically is declining. The non-gray parts are expansions, periods when GDP typically is rising. Which ratio rises and falls most over the business cycle between expansions and recessions, (LF/Pop), or (E/Pop)? O Neither (both about the same) O Employment (E/Pop) Labor force participation (LF/Pop) O The GDP Deflator QUESTION 10 10 points Save Answer During the COVID-19 Pandemic (2020-2021), both (LF/Pop) and (E/Pop) declined a lot. Which ratio declined the most? O Employment (E/Pop) O Labor force participation (LF/Pop) O The GDP deflator Neither (both about the same)QUESTION 11 10 points Save Answer Use the unemployment rate (UNRATE), the unemployment plus discouraged worker rate (U4RATE), and the natural or "noncyclical" rate of unemployment (NROUS) to create a graph from 1948-present (use LINE 1, LINE 2, and LINE 3). Attach File Browse Local Files QUESTION 12 10 points Save Answer Which of the following ranges best describes the average percentage of the labor force that is unemployed: O 10-15 percent (%) O 15-20 percent (%) O 0-5 percent (%) O 5-10 percent (%) QUESTION 13 10 points Save Answer Some unemployed workers stop looking for a job if they can't find one and get discouraged, especially after very bad recessions. What percentage of the labor force was discouraged after the Financial Crisis around 2007-2009 (the difference between the broader measure and the basic unemployment rate)? 100 percentage points O Approximately 10 percent Approximately 1-2 percentage points O Essentially 0 (zero) percentage pointsQUESTION 14 10 points Save Answer The natural rate of unemployment is assumed to be (constant/variable) over time, but since the 1950s it actually has (stayed about constant/fluctuated about 1-2 percentage points). QUESTION 15 10 points Save Answer The natural rate of unemployment varies (more than/less than/about the same as) the total unemployment rate because it is (more/less) affected by changes in GDP over the business cycle. QUESTION 16 10 points Save Answer How was the unemployment rate different during and following the COVID-19 Pandemic recession than in all earlier recessions? O It rose somewhat faster It increased a lot more It declined much faster O All of the above