Unemployment

Question 1

The condition of willing workers lacking jobs or “gainful employment” is?

Answer 1

Unemployment

Question 2

The unemployment rate is the number of unemployed workers divided by the total __________ ________ _______.

Answer 2

Civilian labor force

Question 3

Rising ________ increased the crime rate, the suicide rate, and causes a decline in healthiness.

Answer 3

Unemployment

Question 4

Unemployment insurance in the US does not even replace ____% of the income one received on the job and you can’t get it forever.

Answer 4

50

Question 5

Higher government transfer payments like welfare and food stamps may decreases spending in productive goods, ___________ GDP.

Answer 5

Decreasing

Question 6

Turnover in most low-paying jobs is high, in excess of ____%/year.

Answer 6

30

Question 7

Unemployed workers may be forced to take jobs that do not fit their skills or talents. Therefore, unemployment can cause ________________.

Answer 7

Underemployment

Question 8

Unemployment may help avert runaway ___________ that affects everyone in the economy.

Answer 8

Inflation

Question 9

The last few years unemployment has not affected inflation due to expanded international what?

Answer 9

Trade

Question 10

Unemployment was demonstrated to reduce inflation following the __________ curve, or to decelerate inflation following the ________ (natural rate of unemployment theory)

Answer 10

Phillips

NAIRU

Question 11

When more jobs are available to _________ workers (lower unemployment) then workers can find jobs that fit their taste, talents and needs.

Answer 11

Fewer

Question 12

Unemployment may __________ general labor productivity because of fear of job loss.

Answer 12

Increase

Question 13

Optimal unemployment is a tool to slow the growth of GDP to maintain sustainable levels in the context of ___________ constraints and _____________ impacts.

Answer 13

Resource

Environmental

Question 14

Substantial over staffing is sometimes called “________ _________” which is seen as underemployment.

Answer 14

Hidden unemployment

Question 15

There is arguably a market failure due to the existence of _________ costs of firing or laying off someone.

Answer 15

External

Question 16

On the supply side, workers lack positive net worth that makes it difficult to go into ___________ for themselves.

Answer 16

Business

Question 17

Unemployment defined in the US is associated with __________ economies.

Answer 17

Capitalist

Question 18

Others argue that unemployment __________ with more government intervention.

Answer 18

Increases

Question 19

The unemployment attributed to the individual unemployed workers and their decisions is what?

Answer 19

Voluntary unemployment

Question 20

This employment exists because of socio-economic environment including market structure, government intervention, and demand.

Answer 20

Involuntary unemployment

Question 21

Most __________ unemployment is voluntary since it reflects individuals search behavior.

Answer 21

Frictional

Question 22

What unemployment is the result of economies that experience business cycles of GDP growth and slowdowns?

Answer 22

Cyclical unemployment

Question 23

The market determines wages based on ____________.

Answer 23

Desirability

Question 24

Who said that problems with market adjustment arise from the market itself?

Answer 24

Keynes

Question 25

Who said market adjustment arise from the nature of capitalism?

Answer 25

Marx

Question 26

In developing countries, unemployment is caused by burdensome what?

Answer 26

Government regulation

Question 27

What are the two types of unemployment included in the Natural Rate of Unemployment?

Answer 27

Structural

Frictional

Question 28

Who calculates the unemployment rate?

Answer 28

The Bureau of Labor Statistics