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Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor fQuestion 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has beeQuestion 68 2.5 pts Which of the following will most likely increase the natural rate of unemployment? O a decrease in the miQuestion 67 2.5 pts In the expansion phase of the business cycle output is rising. unemployment is falling. consumer and busiQuestion 66 2.5 pts If some people who were frictionally unemployed became structurally unemployed instead, the natural rateQuestion 57 2.5 pts Structural unemployment includes: unemployment caused by workers who leave positions to seek better jobs.Question 54 2.5 pts Which of the following people is most likely to be structurally unemployed? Brendan left his job as a shoQuestion 53 2.5 pts If inflation had long been 4% and was therefore expected to continue, then it unexpectedly increased to 7Question 51 2.5 pts An unanticipated increase in inflation will: O redistribute income from employers to workers. redistributQuestion 49 2 pts GDP excludes: business purchases of investment goods, such as factories. O government purchases of militaryQuestion 48 2 pts Which of the following is included in government purchases? O Government purchases of investment goods. TraQuestion 46 2 pts If the GDP deflator increases from one year to the next, it can be concluded that the economy has experiencQuestion 46 2 pts If the GDP deflator increases from one year to the next, it can be concluded that the economy has experiencQuestion 43 2 pts Which of the following is not counted as a part of GDP? the purchase of a loaf of bread by a consumer the uQuestion 42 2 pts For the economy as a whole: income must equal expenditures. expenditures exceed income because of taxes. inQuestion 35 2.5 pts Which of the following is an example of opportunity cost? The Chinese food that you give up when you chooQuestion 34 2.5 pts Following is the production possibilities schedule for an economy producing two goods, Good A and Good B.Given below is the production possibilities schedule for a small island nation in South Pacific that produces capital and conQuestion 30 2 pts Persons who do not hold a job and are not actively seeking work are considered: out of the labor force. O uQuestion 26 2 pts Exhibit 10-2 Assume the following information about a country for the following problems: The total adult pQuestion 23 2 pts The official unemployment rate may not reflect the true state of unemployment because: Some workers may goQuestion 17 2.5 pts Gross domestic product is the value of all final goods and services produced within a country during a giExhibit 11-1 GDP - Expenditure Approach Category Amount Percent of GDP (billions of current dollars) Consumption (C) 70% InveQuestion 11 2.5 pts If Jim pays $1000 to John: GDP will increase by $1000. GDP will increase, but we cannot determine by whatQuestion 2 2 pts Country X has a high unemployment rate. It follows that country X is operating beyond its production possibiQuestion 5 2 pts An advance in technology commonly refers to the ability to produce O a. the same output with a smaller quantQuestion 7 2 pts Points that lie inside (or below) the production possibilities frontier (PPF) are unattainable. attainable aQuestion 65 2.5 pts Which of the following is always a characteristic of the contraction phase of the business cycle? lower u

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Answer #1

Answer. 70. Included in labor force, and counted as employed

Reason- Part time workers have jobs and are treated as employed and part of labor force. Since labor force is employed plus unemployed.

Answer 69 .a laid-off construction worker waiting to return to a previous job

Reason- The construction worker has been laid off and is looking for job, so it is classified as unemployed.

Answer 68. An increase in unemployment benefits

Reason- At a given unemployment rate, rise in unemployment benefits leads to rise in wages, to bring the wage rate back to the level what firms can pay, unemployment rate has to increase.

Answer 67. all of the above are true

Reason- In the expansion phase unemployment reduces, output rises as consuemr confidence rises. Business expands due to rise in investment.

Note-According to HOMEWORKLIB RULES first four questions are solved.

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