One shortcoming of the unemployment rate as a measure of inefficiency in the labor market is...
One shortcoming of the unemployment rate as a measure of inefficiency in the labor market is that it does not take into account that some people who work part time would prefer to work full time.
True
False
Homework Answers
"True"
The unemployment rate Is total unemployed people in the economy / labor force, it will not consider the under employed people but take them as employed person in the market.
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One shortcoming of the unemployment rate as a measure of
inefficiency in the labor market is...
Which of the following is a shortcoming of the unemployment rate? Choose one or more: A....
Which of the following is a shortcoming of the unemployment
rate?
Choose one or more:
A. There are too few observations collected monthly. The
small sample size causes inaccurate measurements.
B. Temporary workers are not counted as
employed.
C. If someone is working at a lower-paying job but is
qualified for a higher-paying job, he/she is counted as
unemployed.
D. The unemployment rate does not include discouraged
workers.
Which of the following can lower the level of frictional
unemployment over...
The unemployment rate may underestimate the true extent of unemployment if: Select one: a. many people...
The unemployment rate may underestimate the true extent of unemployment if: Select one: a. many people work in the underground economy. b. employees increase the number of hours they work overtime. c. many people become discouraged and cease looking for work. d. many people have a part time as well as a full time job.
Using the official measure of unemployment, which of the following people is considered unemployed? Select one:...
Using the official measure of unemployment, which of the following people is considered unemployed? Select one: a. a part-time worker who wishes to work full time b. a person who gave up looking for jobs because he or she was discouraged about his or her job prospects c. a person who is working but expects to be laid off at the end of the month d. a person who has been searching for work, but turns down a job paying...
Simply counting the number of unemployed workers will not necessarily give the Bureau of Labor Statistics...
Simply counting the number of unemployed workers will not necessarily give the Bureau of Labor Statistics (BLS) the most accurate indication of the extent of underemployment in the economy. Some part-time workers will be counted as employed even if they'd like to work full-time. Furthermore, some jobless workers will not qualify as unemployed because they have given up on their job search, frustrated with their inability to find work. Fortunately, the BLS can use the information provided in the household...
Perhaps the part of the economy that people see most directly is the labor market. These...
Perhaps the part of the economy that people see most directly is the labor market. These include topics like employment, unemployment, and related aspects of this market. These questions and their answers (released after this assignment is due) will help you prepare for the next quiz. Category Millions total population 310 population 16 and above 250 employed 192 unemployed 8.00 structurally unemployed 4.00 frictionally unemployed 2.00 unemployed more 27 weeks or more 2.00 marginally attached workers 2.00 discouraged workers 1.00...
3rd attempt Which of the following can be responsible for a drop in the unemployment rate?...
3rd attempt Which of the following can be responsible for a drop in the unemployment rate? Choose one or more: A. More people become employed. B. The labor force shrinks. C. There is an increase in the number of discouraged workers. D. More people with full-time jobs become part-time workers. 2nd attempt Which of the following can lower the level of frictional unemployment over time? Choose one or more: A. reducing the regulations on hiring practices in a country B....
If the unemployment rate is 6%, it suggests that 6% of Select one: a. the population is not working b. the labor force...
If the unemployment rate is 6%, it suggests that 6% of Select one: a. the population is not working b. the labor force is not working at that time c. people are discouraged from job search d. the individuals who are looking for work cannot find jobs e. of all potential workers are not working
3. Why might the unemployment rate be considered an incomplete indicator of the health of the labor market? I. Because i...
3. Why might the unemployment rate be considered an incomplete indicator of the health of the labor market? I. Because it does not measure how well people are matched to the jobs they do. II. Because the definition of discouraged workers is not clear III. Because it does not correctly define the adult population A) I and II only are correct B) I and III only are correct C) II and III only are correct D) I, II, and III...
Consider the graph of the labor market shown here. At the wage rate of $15, the...
Consider the graph of the labor market shown here. At the wage rate of $15, the number of unemployed people in this market is: Wage Labor supply $15 $14 $13 Labor demand 20 22 24 Quantity of labor in thousands) zero. 2,000 O 22,000. 4.000. After a financial crisis hits the country of Barbaria, 3 million people become unemployed. If 55 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to...
3. The table below shows unemployment and labor force statistics for an economy. Actual rate of...
3. The table below shows unemployment and labor force statistics for an economy.Actual rate of unemployment3%Natural rate of unemployment4%Population of the country125mitlonNumber of people employed97miltionNumber of people unemployed3 millionNumber of people employed part-time5 millionNumber of discouraged workers2 milliona. Calculate the size of the labor force.b. Calculate the labor force participation rate. Show your work.c. Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain.d. Calculate...
Which of the following is a shortcoming of the unemployment
rate?
Choose one or more:
A. There are too few observations collected monthly. The
small sample size causes inaccurate measurements.
B. Temporary workers are not counted as
employed.
C. If someone is working at a lower-paying job but is
qualified for a higher-paying job, he/she is counted as
unemployed.
D. The unemployment rate does not include discouraged
workers.
Which of the following can lower the level of frictional
unemployment over...
Using the official measure of unemployment, which of the following people is considered unemployed? Select one: a. a part-time worker who wishes to work full time b. a person who gave up looking for jobs because he or she was discouraged about his or her job prospects c. a person who is working but expects to be laid off at the end of the month d. a person who has been searching for work, but turns down a job paying...
3rd attempt Which of the following can be responsible for a drop in the unemployment rate? Choose one or more: A. More people become employed. B. The labor force shrinks. C. There is an increase in the number of discouraged workers. D. More people with full-time jobs become part-time workers. 2nd attempt Which of the following can lower the level of frictional unemployment over time? Choose one or more: A. reducing the regulations on hiring practices in a country B....
Consider the graph of the labor market shown here. At the wage rate of $15, the number of unemployed people in this market is: Wage Labor supply $15 $14 $13 Labor demand 20 22 24 Quantity of labor in thousands) zero. 2,000 O 22,000. 4.000. After a financial crisis hits the country of Barbaria, 3 million people become unemployed. If 55 million individuals are lucky enough to keep their jobs, what is the unemployment rate? Please specify your answer to...
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