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SCHOOL OF BUSINESS - WOLFSON COLLEGE MACROECONOMICS 2013 PROFESSOR: ALBERTO HERNANDEZ SPRING XXXXXXXXXXHOME WORK # 6 PA-a-TO 1. The labor force consists of all a. the people in the economy who are not...

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SCHOOL OF BUSINESS - WOLFSON COLLEGE MACROECONOMICS 2013 PROFESSOR: ALBERTO HERNANDEZ
SPRING XXXXXXXXXXHOME WORK # 6 PA-a-TO
1. The labor force consists of all a. the people in the economy who are not retired b. people in the economy over 16 years of age c. the adults in the economy between 18 and 65 years old who are able to work d. the noninstitutionalized population over 16 in the economy who hold jobs or are looking for them e. the citizens in the economy who are graduates of high school
2. Which of the following people would be counted in the labor force?, a. Chou, who lost his job and last looked for work three months ago b. Stephanie, who holds a Ph.D. in history, but can only find part-time employment at a fast-food restaurant c. Jordan, who would like to work as a stockbroker but is now a househusband d. Stefan, who thinks he could easily earn $100,000 per year, despite the opinion of the psychiatrist at the state hospital where he is a patient e. Monique, age 90, who is enjoying her retirement in Montana
3. With a total population of 1,000, in the country of Fictivia: 250 people,are vorking,150 are retired, 45 people are not working but they are actively looking for a job, 101 are children too young to work, 20 people dropped out of the labor. force because they won the lottery. How many people are considered unemployed?
a. 20 b. 45 c. 150 d. 250 e. 295
4. People who are not currently employed, but say they want a job, are counted as unemployed only if they a. have previously held a job b. are actively seeking employment c. are willing to accept a reasonable offer d. are between 16 and 65 years of age e. are willing to accept any offer of employment
5. A discouraged worker is one who a. is under qualified for his current job b. dislikes his current job but is afraid to quit c. drops out of the labor force because he cannot find a job d. quits his job because the possibility of advancement was very low e. is overqualified for his current job
6. Suppose the official unemployment rate is 10 percent. We can conclude without question that a. the same 10 percent of the people in the economy were out of work for the entire year b. one of every ten people in the labor force is currently unemployed c. the same 10 percent of the people in the labor force were out of work for the entire year d. every person in the labor force was out of work for 10 percent of the year e. 10 percent of the people in the economy were each out of work for 10 percent of the year
Answered Same Day Dec 29, 2021

Solution

David answered on Dec 29 2021
103 Votes
Mutiple choice economic questions Answer:
1. D
2. B
3. B
4. B
5. C
6. B
7. B
8. C
9. D
10. A
11. C
12. D
13. A
14. E
15. B
16. D
17. E
18. D
19. A
20. B
21. C
22. A
23. E
24. D
25. E
26. D
27. D
28. E
29. E
30. B
31. B
32. A
33. B...
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