Question

An individual with a Ph.D. in physics who can find employment only in a pizza parlor would be considered:

a. ​discouraged.

b. ​long-term unemployed.

c. ​underemployed.

d. ​voluntarily unemployed.

e. ​overemployed. Suppose the total population of an economy is 150 million, the labor force is 100 million, and the unemployment is 94 million. The unemployment rate is _____. a. ​80 percent b. ​15 percent c. ​6 percent d. ​94 percent e. ​10 percent Which of the following would be included in this year's gross domestic product (GDP)? a. ​A used car that Tracey sold to Justin b. ​One hundred shares of IBM stock that Tony sold this May c. ​Sharon giving Dennis $20 as a reward for finding her ring d. ​A bucket of Kentucky Fried Chicken that Kate bought this July e. ​George’s purchase of a fishing rod and reel at a garage sale The official unemployment rate disguises the extent of the unemployment problem because: a. ​full-time students are not counted as unemployed. b. ​discouraged workers are counted as unemployed. c. ​children are not counted as unemployed. d. ​retired persons are not counted as unemployed. e. ​people overqualified for their current job are not considered unemployed. Which of the following is true of a beneficial supply shock? a. ​It can shift the aggregate demand curve rightward. b. ​It can shift the aggregate demand curve leftward. c. ​It can create a recessionary gap. d. ​It can lead to a temporary lower price level. e. ​It can permanently decrease the economy's price level. Which of the following does not influence the position of the long-run aggregate supply curve? a. ​The quality of the labor force b. ​The quantity of raw materials available for production c. ​The actual price level d. ​The quantity of capital used in production e. ​The size of the labor force Human capital represents: a. ​the ratio of capital to labor. b. ​the education, skill, and training embodied in workers. c. ​the technology developed by humans that is embodied in equipment. d. ​the social institutions created by people which promote the accumulation of equipment for production. e. ​the equipment that labor uses on-the-job to improve labor productivity. Gross domestic product (GDP) is not a perfect measure of welfare because it: a. ​treats a dollar spent on guns the same as a dollar spent on education. b. ​counts illegal activities in the underground economy. c. ​double counts depreciation. d. ​double counts the value of leisure time. e. ​treats a dollar spent on exports the same as a dollar spent on imports. The labor force in an economy consists of all: a. ​the people in the economy over 16 years of age. b. ​the civilian noninstitutional adult population that is either working or looking for work. c. ​the noninstitutional adult population who are graduates of high school. d. ​the people in the economy who are not retired. e. ​the adults in the economy between 18 and 65 years old who are able to work. The table given below shows the disposable income and consumption of a household. In the table below, the level of saving at a disposable income of $1,200 is: Table 9.1 ​ Disposable Income ($) ​ Consumption ($) 1,000 800 1,100 880 1,200 960 1,300 1,040 1,400 1,120 ​ a. ​$950 b. ​$80 c. ​$1,300 d. ​$240 e. ​$1,200

Answer 1

1 ) An individual with a Ph.D. in physics who can find employment only in a pizza parlor would be considered:

Underemployed

2) Unemployment rate = Number of people unemployed/labor force *100

= 94/100 *100

=94%

3) GDP only includes the value of final goods and services produced during the current year

​A bucket of Kentucky Fried Chicken that Kate bought this July

4) The official unemployment rate disguises the extent of the unemployment problem because

people overqualified for their current job are not considered unemployed

Please upload the rest separately as per Chegg guidelines.Thanks