To maintain their standard of living, most people rely on The Bureau of Labor St

Question

To maintain their standard of living, most people rely on

The Bureau of Labor Statistics produces data on unemployment

Cyclical unemployment refers to

Efficiency wages create structural unemployment.

A. their labor earnings. B. their personal savings. C. rental income. D. government assistance.

The Bureau of Labor Statistics produces data on unemployment

A. weekly. B. yearly. C. quarterly. D. monthly.

Cyclical unemployment refers to

A. how often a worker is likely to be employed during her lifetime. B. year-to-year fluctuations of unemployment around its natural rate. C. long-term trends in unemployment. D. the relationship between the probability of unemployment and a worker's changing level of experience.

Efficiency wages create structural unemployment.

a. TRUE b. FALSE

Explanation / Answer

         Most people rely on their income to maintain their standard of living; the loss of a      job will often directly threaten to reduce that standard of living.

2. month

             Bureau of Labor Statistics produces data on unemployment, length of the avg workweek, and duration of unemployment every month

3b. year-to-year fluctuations in unemployment

Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate, and it is closely associated with the short-run ups and downs of economic activity.

4. True

Efficiency wages increases structural unemployment by keeping wages above equilibrium.

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