When unemployed people stop looking for jobs, the Multiple Choice O Unemployment rate increases and the labor force decreases. O Unemployment rate increases and the labor force increases. O Unemployment rate decreases and the labor force increases. O Unemployment rate decreases and the labor force decreases.In the early stages of a recession, what type of unemployment gets larger? Multiple Choice O Seasonal. O Frictional. O Cyclical. O Structural.What was the unemployment rate in 2004 in Table 6.1? Table 6.1 2004 2005 2006 Working Age Population 200 million 225 million 275 million Labor Force 150 million 165 million 200 million Unemployed 5 million 15 million 35 million Multiple Choice O 75 percent. O 2.5 percent. O 3.9 percent.Part-time workers who desire full-time employment are Multiple Choice O Not part of the labor force and do not contribute to the unemployment statistic. O Underemployed but do not contribute to the unemployment statistic. O Discouraged workers and contribute to the unemployment statistic. O Underemployed and contribute to the unemployment statistic.The natural rate of unemployment includes Multiple Choice O Seasonal and cyclical unemployment only. O Frictional and structural unemployment only. O Structural and seasonal unemployment only. O Cyclical and frictional unemployment only.After Christmas, retail sales fall and many clerks are laid off until the following Christmas. This is an example of which of the following types of unemployment? Multiple Choice O Frictional unemployment. O Structural unemployment. O Seasonal unemployment. O Cyclical unemployment.Jim's job was transferred 800 miles away. Although his employer will let him keep his job if he goes to the new factory, Jim cannot move. Jim is Multiple Choice O Cyclically unemployed. O Structurally unemployed. O Frictionally unemployed. O Seasonally unemployed.According to Okun's Law, if unemployment rises by 5 percent while imports and exports increase at roughly the same rate, the economy will lose output equal to Multiple Choice O 5 percent. O 10 percent. O 2 percent. O 1 percent.Which of the following groups typically has the highest unemployment rate? Multiple Choice O Black adults. O Black teenagers. O White teenagers. O White adult females.The macro consequence of unemployment is Multiple Choice O A leftward shift in the production possibilities curve. O Lost output for the economy. O A 1 percent decrease in GDP for every 1 percent decrease in unemployment. O Lost income for the individual worker.Year 1 Year 2 300 310 Population million million 150 155 Labor force million million Unemployment 4.5 6 rate percent percent Instructions: Enter your responses rounded to one decimal place. a. How many people are unemployed in each year? Year 1: million Year 2: million b. How many people are employed in each year? Year 1: million Year 2: millionProblem 06-08 (Algo) Based on the data in the table below, Year 1 Year 2 Population 320 330 million million 150 160 Labor force million million Unemployment 6 6 rate percent percent In Year 2, what happens to each of the following when 1 million job seekers find employment? a. Number of unemployed persons. Uncertain Increases Decreases No changeC'No change b. Unemployment rate. 0 Uncertain O Decreases O No change 0 Increases c. Number of employed persons. 0 Increases O Uncertain O Decreases O No change Problem 06-13 (Algo) For each situation described here, determine the type of unemployment: a. An accountant looking for a better job in a thriving job market. Cyclical Seasonal Frictional Structural b. The Great Depression. Structural . Cyclical Seasonal .FrictionalFrictional c. Coal workers out of a job because of green energy. .Structural Seasonal Frictional . Cyclical d. A college student who used to work at a Halloween pop-up store but it is now December. Structural . Cyclical Seasonal Frictional