Question

V B N M shirt 30 cmd option NAME Print Last Name, First Name SECTION UNEMPLOYMENT AND INFLATION 1 2. In order to be classified as unemployed, with the exception of workers who have been temporarily laid off and are waiting to report back to work, a person must a. not have worked during the survey week, be actively looking for work, and currently be available for work. b. have filed for unemployment compensation not have a job d. not have worked during the survey week and currently be available for work. Structural unemployment occurs when: workers leave one job to search for another job requiring similar skills. b. the actual unemployment rate exceeds the natural rate of unemployment c. unemployed workers do not have the skills needed for the available jobs d. the number of unemployed workers exceeds the number of job vacancies. In a population of 300 million people, 150 million are in the labor force and 142.5 million are employed. The unemployment rate is approximately: 2.5 percent b. 5 percent c. 5.3 percent d. 7.5 percent. 4. When the actual unemployment rate is equal to the natural unemployment rate: there is some cyclical unemployment. b. frictional unemployment exceeds structural unemployment. c. structural unemployment exceeds frictional unemployment. d. cyclical unemployment is zero. 5. b. d. 6. All of the following are considered to be part of the labor force excepr: persons who like to work but are not employed or actively seeking employment. persons who are laid off and are currently seeking other jobs. part-time workers who are seeking full-time employment. persons who are employed in positions for which they are overqualified. The inflation rate calculated using the Consumer Price Index (CPI) measures: the percentage change in the cost of a fixed market basket of consumer goods and services. b. the percentage change in the cost of all goods and services purchased by every consumer each year. the percentage change in the cost of living for all consumers. d. the average percentage change in the prices of all goods and services produced. a

Answer 1

Ans to Q-1:

There are certain criterias on which a person is considered to be unemployed;

1. One must not be employed.

2.Actively looking for a job by any means (eg. By submiting resume online or by personaly attending interviews)  

3. Immediately available for work

On the basis of above three conditions we conclude that option "A" is correct.

Ans to Q-2

To understand why structural unemployement occures, we have to understand the meaning of structral unemployeement first.

"Structural unpmoyeenets can be simply defined as disperity between the skills of labour force and required skills for available Job/work"

Hence, We can say that structural unemployement arises when the unemployed person does not satisfy the need of required skills for a job.  

On the basis of above three conditions we conclude that option "C" is correct.

Ans to Q-3

Data or Facts given in the Question :

a. Total No of Population is 300 million

b. Total Labour Force is 150 million

c. Total No of Employed is 142.50 million.

Hence, Total No of unemployed persons is 150-142.50=7.50 million

First and foremost it is to clarify that total population given here is not relevant for the solution. Unemployement rate is derived by deviding total no of unemployed persons by toal labour force. the formulea is given as under:

Unemployement rate = (Total No of Unemployed persons/ Total Labour force)x100

Hence the unemployement Rate = (7.50/150)*100

= 5%

Option B is Correct.

Ans to Q-6

Consumer price index (CPI) is used to measure the percentage change in the cost of living of all consumers. It measures price changes from the perspective of a retail buyer.

Option C is correct.