Question

1)

In terms of a recent Gallup poll, Americans rank unemployment near the bottom in terms of concerns. From what you read in the lecture slides about unemployment, how would we likely describe the US labor market? Strong Somewhat strong but fragile Weak Very weak

2)

3)

4)

Answer 1

1) Option 4. As the unemployment rank is at the bottom

2) Option 4. As Mr. Valeri T has stopped looking out for job, he is not considered as unemployed

3) Option 3. Certain goods or services may not be in demand because of changes in preferences and tastes is termed to be structurally unemployed

4) Option 1. As the GDP falls the demand for goods increases which increases price level