Question

28) If the number of people classified as what is the unemploy 29) The labor force employed people to the number of unemployed nemployed is 20,000 and the number of people classified as employed is 620,000, is ment rate? A) 1.6% B) 3.1% C) 10.6% D) 632% participation rate is the A) ratio of the labor force to the total population 16 years old or older. ePeopthe labor force minus the number of people who are unemployed. C) ratio of the num people. D) total number of people who are participating in the labor force. and structural unemployment is thought of as the A) normal rate of unemployment. B) cyclical rate of unemployment C)natural rate of unemployment D) seasonal rate of unemployment. 31) The increase in unemployment that occurs during recessions and depressions is called A) cyclical unemployment B) normal unemployment. C) frictional unemployment. D) structural unemployment. The following results are from an autoregressive distributed lag model using the previous period or one lag to growth rate of GDP. predict the Regression Statistics Multiple FR R Square Adjusted R Square Standard Error Observations 0.372751207 0.138943462 0.135868261 3.499134057 282 ANOVA df MS Regression Residual Total 1 553.2044214 553.2044214 45.18189896 280 3428.302961 12.24393915 281 3981.507383 Coefficients Standard Error tStat 7.24 6.72 P-value 1.95 0.37 0.27 0.06 4.24823E-12 .00442E-10 Intercept GRGDPt-1

Answer 1

28. B. 3.1%
Unemployment rate = [Unemployed/(Unemployed+Employed)]*100 = [20,000/(20,000+620,000)]*100 = (20,000/640,000)*100 = 3.1%

29. A. ratio of the labor force to the total population 16 years old or older.
Labor force participation rate is calculated by dividing the labor force by total working age population.

30. C. natural rate of unemployment
Natural rate of unemployment is sum of structural and frictional unemployment)

31. A. cyclical unemployment
As unemployment occurs due to cyclical changes in the economy so it is called cyclical unemployment.