Chapter 14- Section 2

Question 0

The number of unemployed individuals divided by the total number of persons in the civilian labor force

Answer 0

Unemployment rate

Question 1

People available for work who made a specific effort to find a job during the past month and two, during the most recent survey week, worked less than one hour for pay or profit

Answer 1

Unemployed

Question 2

What are the limitations of the unemployment rate?

Answer 2

The unemployment rate does not count those who have become too frustrated or discouraged to look for work. Second, people are considered employed even when they hold part time jobs.

Question 3

Workers who are between jobs for one reason or another

Answer 3

Frictional unemployment

Question 4

Occurs when a fundamental change in operations of economy reduces the demand for workers and their skills

Answer 4

Structural unemployment

Question 5

Unemployment directly related to swings in the business cycle

Answer 5

Cyclical unemployment

Question 6

Changes in the weather or changes in the demand for certain products

Answer 6

Seasonal unemployment

Question 7

When workers with less skills, talents, or education are replaced by machines and other equipment that do their jobs

Answer 7

Technological unemployment

Question 8

How does automation affect unemployment rates?

Answer 8

A drastic reduction in the number of workers needed for production

Question 9

What is full employment?

Answer 9

The lowest possible unemployment rate, with the economy growing and all factors of production being used as efficiently as possible