Chapter 12 Unemployment and Inflation

| November 9, 2018

27)
Which one of the following statements is NOT correct?
A)
The natural rate of unemployment is estimated to be between 5% and 6.5% in the
U.S.
B)
The term “full employment” means that 100% of the labor force is
employed.
C)
The line between frictional and structural unemployment is sometimes hard to
draw.
D)
Unemployment can occur even when an economy is growing.

28)
Economists consider an economy to be at “full employment” when
A)
the unemployment rate equals the natural rate of unemployment.
B)
there is only a small amount of cyclical unemployment.
C)
there is no frictional unemployment.
D)
there is no structural unemployment.

29)
To operate efficiently, an economy generally “needs” ________
unemployment.
A)
cyclical
B)
frictional
C)
structural
D)
seasonal

30)
Unemployment occurs even during periods when the economy is growing.

31)
Cyclical unemployment increases during recessions.

32)
Frictional unemployment is unemployment reflecting a mismatch of skills and
jobs.

33)
Structural unemployment exists because workers and employers try to find the
right employment matches.

34)
Economists consider the economy to be at “full employment” when there
is no cyclical unemployment.

35)
The actual unemployment rate can be greater than or less than the natural rate
of unemployment.

36)
Name the three types of unemployment.

37)
What is cyclical unemployment?

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