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ECN 211 Exam 2 ASU Hill Questions and Answers 100% Correct
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ECN 211 Exam 2 ASU Hill Questions and Answers 100% Correct
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ECN 211 Exam 2 ASU Hill Questions andAnswers 100% Correct
If a country keep its workers fully employed, it achieves a higher level of _______
than if it leaves many workers ________. - ANSWER GDP
Idle
Natural Rate Of Unemployment - ANSWER the normal rate of unemployment
around which the unemployment rate fluctuates is the natural rate of
unemployment
The amount of unemployment that an economy normally experiences
"Natural" Rate of Unemployment - ANSWER The unemployment that doesn't
go away on its own
Employed - ANSWER Worked as paid employee, worked in their own business
or family business (full or part time), or had a job but didn't work due to
temporary absence
Unemployed - ANSWER Not employed but were available for work and looked
for work in the last four weeks or on temporary layoff
Not in the Labor Force - ANSWER not in the previous two categories (student,
homemaker, retiree)
, Labor Force =________+_________ - ANSWER number of employed+number
unemployed
Unemployment Rate =(___________/___________) x 100 - ANSWER (number
of unemployed/ labor force) x 100
Labor Force Participation Rate = (___________/___________) x 100 - ANSWER
(labor force/adult pop) x 100
labor force is the ___________________________________________. -
ANSWER total number of workers who have made themselves available to
work
unemployment rate is the ____________________________________________. -
ANSWER percent of the labor force unemployed
labor force participation rate is the___________________________________. -
ANSWER percent of the total adult population who are in the labor force
The unemployment rate and the labor force participation rate vary widely across
what demographic groups? - ANSWER men, women, black, white, young, old
Prime age women (______-______) have ___________ labor force participation
rates than men, but once in the labor force both men and women have similar
________________ rates. - ANSWER (25-54 years old)
lower
unemployment
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