APU ECO102 QUIZ 2

Question 1 of 10
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10.0 Points
Business cycles are
A.movements in stock prices.
B.the transfer of executives between firms.
C.used to describe fluctuations in GDP.
D.a description of the time required to bring a new product
to market.
Question 2 of 10
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Economists define the unemployed as individuals who are
A.not currently working.
B.not currently working but are actively looking for work.
C.working but looking for a different job.
D.working less than their desired amount of time.
Question 3 of 10
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10.0 Points
Economists define the labor force to include
A.only people who are working full time.
B.people who are working.
C.people who are not working but are actively looking for a
job, and people who are working.
D.all individuals of work age, regardless of whether they
are working or looking for a job.
Question 4 of 10
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People who want to work but have stopped looking for work
because they could not find jobs after actively searching are called
A.employed.
B.unemployed.
C.discouraged workers.
D.empowered.
Question 5 of 10
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10.0 Points
Unemployment that naturally occurs during the normal
workings of an economy as people change jobs and move across the country is
called
A.natural unemployment.
B.frictional unemployment.
C.structural unemployment.
D.cyclical unemployment.
Question 6 of 10
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10.0 Points
________ unemployment occurs due to a mismatch between the
jobs that are available and the skills of workers seeking jobs.
A.Structural
B.Cyclical
C.Frictional
D.Voluntary
Question 7 of 10
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10.0 Points
At full employment the unemployment rate equals the
A.cyclical unemployment rate.
B.structural unemployment rate.
C.structural unemployment rate plus the cyclical
unemployment rate.
D.structural unemployment rate plus the frictional
unemployment rate.
Question 8 of 10
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10.0 Points
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.
Question 9 of 10
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10.0 Points
Economists say that the economy is at “full
employment” when the
A.structural unemployment rate is zero.
B.total unemployment rate is zero.
C.frictional unemployment rate is zero.
D.cyclical unemployment rate is zero.
Question 10 of 10
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10.0 Points
The economy needs some unemployment to operate efficiently,
because without it
A.firms will find it difficult to recruit workers, leading
to increased wages and prices.
B.firms will find it difficult to recruit workers, leading
to reduced wages and prices.
C.workers will find it difficult to find a job, leading to
increased wages and prices.
D.workers will find it difficult to find a job, leading to
reduced wages and prices.