1- What allows an employee to quit at any time and an employer to fire at any ti

Question

1-

What allows an employee to quit at any time and an employer to fire at any time for any reason?

Select one:

a. employment-at-will

b. contractual autonomy

c. right-to-hire

d. termination sovereignty

2-

The Keynesian explanation for cyclical unemployment is:

Select one:

a. that labor is reallocated across different industries.

b. the same as that for frictional and structural unemployment.

c. that wage demands are too high relative to falling prices.

d. that it is a normal response to real shocks in the economy.

3-

What population categories go into the formula for the unemployment rate?

Select one:

a. unemployed and employed

b. civilian, military, and unemployed

c. adults not in labor force, employed, and unemployed

d. unemployed, employed, and discouraged workers

4-

Which of the following is a case of structural unemployment?

Select one:

a. Aaron is leaving his job to take a higher-paying position.

b. Amanda has been searching over a year for a position working as a travel agent.

c. Ashley took an early retirement package.

d. Alfred is searching for a position in which his expertise in criminal forensics can be used.

5-

What is one of the causes of frictional unemployment?

Select one:

a. uneducated work force

b. willingness to take lower level jobs

c. scarcity of information

d. overabundance of job vacancies

6-

Which of the following would NOT be counted as employed?

Select one:

a. an underemployed person

b. an employee working overtime every day

c. a part-time worker

d. a discouraged worker

Explanation / Answer

1. a)

Employment at will means an employee can be terminated at any time by the employer without assigning any reason. Also, an employee can quit at any time for any reason.

2.d)

According to Keynes, depression is caused by fall in private investment leading to a fall in aggregate demand. This resulted in less than full employment.

3 a)

Unemployment rate: (Number of Unemployed / Labor Force) * 100

4 d) Structural unemployment is when existing skills are not in requirment because of new technolgy, jobs moving overseas etc.

5. C. Frictional unemployment is normal as it takes time to find a job.

6. d. A discouraged worked if he has stopped looking for work.

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