True or false:
1. People looking for full-time work who grudgingly settle for a part-time job are counted as employed, even though they are only “partly” employed.
2. Some people working in the underground economy may be counted in labor statistics as unemployed, while others may be counted as not in the labor force.
3. Unemployment rates are usually similar across different segments of the population, but they vary substantially over time.
4. In the short run, a reduction in unemployment may come at the expense of a higher rate of inflation.
5. The duration of unemployment tends to be greater when the amount of unemployment is low and smaller when the amount of unemployment is high.
6. Unemployment means a loss of potential output.
7. When the baby-boom generation began entering the labor force, it raised the labor force participation rate.
8. Frictional unemployment results from persons being temporarily between jobs.