Question 1: The labor foree is defined as the number of people who A. Are availa

Question

Question 1: The labor foree is defined as the number of people who A. Are available and looking for work but are unable to find employment B Are employed plus the number of people who are unemployed C. Would like to have a full-time job but are working part-time D. Would like to have a job but have stopped seeking work* Question 2: Sara would be considered unemployed if she is A. working at a part-time job but is looking for a full-time job. B. absent from her regular job as the result of illness. working at a full-time job but is looking for a part-time job. D, not working and is looking for a part-time job. Question 3: The population of Tiny Town is 100 people and 80 of them are in the working age population. If the labor force is made up of 75 people and 5 people are considered unemployed, the labor force participation rate is pp 16C W A x l00 75/100 x 100. /75/80× 100. 5/75 x 100. B un D. There is not enough information provided to calculate the unemployment rate. Question 4: Which type of unemployment increases during a recession? cyclical unemployment B. frictional unemployment C. structural unemployment D. the natural rate of unemployment

Explanation / Answer

Q1. The labour force consists of all individuals who fulfil the requirements to be included among the employed or the unemployed. Hence, labor force is the number of people who are employed plus the number of people who are unemployed. So, (b) is correct.

Q2. Sarah would be considered unemployed if she is not working and looking for part time job. The unemployed are those people who are without work but are searching for employment. Option (d) is correct.

Q3. Labour force participation rate = (employed population/working-age population)*100

= (75/80)*100

So option (b) is correct.

Q4. Cyclical unemployment increases during recession. Cyclical unemployment occurs when the overall demand for goods and services in an economy is less than the full employment level. Cyclical unemployment takes place during slow economic growth. (A) is correct.

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