03 Jun Question 1. The labor force consists of all a. the people in the economy who are not retire
Question
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 working, 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
7.
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
The labor force participation rate for women in the United States has
a. stayed the same over the last 30 years
b. increased significantly since the 1950s
c. been influenced by decreasing real wages since 1960
d. fluctuated substantially both upward and downward since the 1950s
e. increased only very slightly since the 1950s
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