Study Game - How Economists Define and Compute Unemployment Rate, Patterns of Unemployment

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Zachary Foust

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Study Game - How Economists Define and Compute Unemployment Rate, Patterns of Unemployment


Study Game - How Economists Define and Compute Unemployment Rate, Patterns of UnemploymentOnline version Use this game to study for your reading quiz. by Zachary Foust 1 Government officials collect data about the labor market. They find that 162 million people in the United States currently have a full time or part time job. Which of the following terms best describes this economic indicator? a Employed b Unemployed c Out of the labor force d Labor force e Unemployment rate 2 Government officials collect data about the labor market. They find that 7 million people in the United States are currently jobless and looking for a job. Which of the following terms best describes this economic indicator? a Employed b Unemployed c Out of the labor force d Labor force e Unemployment rate 3 Government officials collect data about the labor market. They find that 108 million working-age people in the United States are currently jobless and not looking for a job. Which of the following terms best describes this economic indicator? a Employed b Unemployed c Out of the labor force d Labor force e Unemployment rate 4 Government officials collect data about the labor market. They find that 169 million working-age people in the United States currently have a job or are looking for one. Which of the following terms best describes this economic indicator? a Employed b Unemployed c Out of the labor force d Labor force e Unemployment rate 5 Government officials collect data about the labor market. They find that 4.1% of the labor force is jobless and looking for a job. Which of the following terms best describes this economic indicator? a Employed b Unemployed c Out of the labor force d Labor force e Unemployment rate 6 Government officials collect data about the labor market. They find that 492,000 people in the State of Texas are involuntarily employed part-time. Which of the following terms best describes this situation? a Underemployed b Discouraged workers c Unemployed d Full-time students e Volunteers 7 Government officials collect data about the labor market. They find that 503,000 people in the United States would like to work but are not looking for a job because they believe that no jobs for them exist. Which of the following terms best describes this situation? a Underemployed b Discouraged workers c Unemployed d Full-time students e Volunteers 8 Government officials collect data about the labor market. They find that 61% of the working age population either has a job or is looking for one. Which of the following terms best describes this economic indicator? a Labor force participation rate b Unemployment rate c Employment rate d Marginally attached workers e Underemployed 9 How are people who are not looking for work (like a person in retirement) counted in the labor market? a They are excluded from the number of unemployed. b They are counted in the total number of unemployed. c They are counted in the total number of employed. d They are counted in the total number of underemployed. e They are counted in the total labor force. 10 (Unemployed/labor force) = a Unemployment rate b Labor force participation rate c Employment rate d Underemployed e Labor force 11 How are the underemployed (like a finance major working as a sale clerk) counted in labor market statistics? a They are counted as employed. b They are counted as unemployed. c They are counted as out of the labor force. d They are counted as discouraged workers. e They are counted as marginally attached workers. 12 Examine the excerpt. Which of the following best represents the position of the author? a Discouraged workers should not count as unemployed because they are soon categorized as something else. b Discouraged workers should not count as unemployed because they do not suffer from economic hardship. c Discouraged workers should not count as unemployed because emotional state has little relationship to job performance. d Discouraged workers should count as unemployed because their presence indicates difficult labor market conditions. e Discouraged workers should count as unemployed because their numbers are greater than the total size of the labor force. 13 Which of the following best indicates a recession? a An increase in the unemployment rate b A decrease in the unemployment rate c An increase in the total size of the labor force d An increase in gross domestic product (GDP) e An increase in the total number of employed 14 How do frequent transitions between jobs affect the unemployment rate of younger workers? a The unemployment rate of younger workers tends to be higher than the unemployment rate of older workers. b The unemployment rate of younger workers tends to rise more slowly during a recession. c The unemployment rate of younger workers tends to be lower than the unemployment rate of older workers. d The unemployment rate of younger workers tends to be the same as the unemployment rate of older workers. e The unemployment rate of younger workers tends to fall more quickly during an expansion. 15 How do workers exiting the labor force or accepting reduced hours affect the unemployment rate in Japan? a The unemployment rate in Japan appears low. b The unemployment rate in Japan appears high. c The unemployment rate in Japan appears the same as in other countries. d The unemployment rate in Japan rises quickly during recessions. e The unemployment rate in Japan is higher for older workers than younger workers. 16 How does the large informal labor market in other countries affect the measurement of the unemployment rate? a The unemployment rate in poorer countries will appear artificially lower because many workers are considered outside of the labor force. b The unemployment rate in poorer countries will appear artificially higher because they lack regular jobs at established firms. c The unemployment rate in poorer countries can be easily compared with the unemployment rate in the United States due to similarities in labor market conditions. d The unemployment rate in poorer countries will appear artificially higher due to the greater frequency of recessions in the developing world. e The unemployment rate in poorer countries are often extremely accurate due to the resources that these countries devote to measuring the economy. 17 Examine the excerpt. Which of the following best describes the position of the author? a The United States government should implement policies that help women and minorities find jobs because similar programs exist for other groups. b The United States government should not implement policies that help women and minorities find jobs because such treatment causes discrimination. c The United States government should not implement policies that help women and minorities find jobs because racism no longer exists in the country. d The United States government should not implement policies that help women and minorities find jobs because the unemployment rate for African Americans is lower than the unemployment rate for white Americans. e The United States government should implement policies that help women and minorities find jobs because preferencing one group over another is a natural part of the political system.

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Study Game - How Economists Define and Compute Unemployment Rate, Patterns of Unemployment

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Study Game - How Economists Define and Compute Unemployment Rate, Patterns of UnemploymentOnline version

by Zachary Foust

Government officials collect data about the labor market. They find that 162 million people in the United States currently have a full time or part time job. Which of the following terms best describes this economic indicator?

Government officials collect data about the labor market. They find that 7 million people in the United States are currently jobless and looking for a job. Which of the following terms best describes this economic indicator?

Government officials collect data about the labor market. They find that 108 million working-age people in the United States are currently jobless and not looking for a job. Which of the following terms best describes this economic indicator?

Government officials collect data about the labor market. They find that 169 million working-age people in the United States currently have a job or are looking for one. Which of the following terms best describes this economic indicator?

Government officials collect data about the labor market. They find that 4.1% of the labor force is jobless and looking for a job. Which of the following terms best describes this economic indicator?

Government officials collect data about the labor market. They find that 492,000 people in the State of Texas are involuntarily employed part-time. Which of the following terms best describes this situation?

Government officials collect data about the labor market. They find that 503,000 people in the United States would like to work but are not looking for a job because they believe that no jobs for them exist. Which of the following terms best describes this situation?

Government officials collect data about the labor market. They find that 61% of the working age population either has a job or is looking for one. Which of the following terms best describes this economic indicator?

How are people who are not looking for work (like a person in retirement) counted in the labor market?

(Unemployed/labor force) =

How are the underemployed (like a finance major working as a sale clerk) counted in labor market statistics?

Examine the excerpt. Which of the following best represents the position of the author?

Which of the following best indicates a recession?

How do frequent transitions between jobs affect the unemployment rate of younger workers?

How do workers exiting the labor force or accepting reduced hours affect the unemployment rate in Japan?

How does the large informal labor market in other countries affect the measurement of the unemployment rate?

Examine the excerpt. Which of the following best describes the position of the author?