5. Which of the following non-working individuals would be considered officially

Question

5. Which of the following non-working individuals would be considered officially unemployed by the Bureau of Labor Statistics? a. John, who is beginning a 3-month vacation before reporting to his new job b. Ronald, who two months ago gave up his job search in despair because he could not attract a job offer c. Martha, who has not been on the job for the past four weeks because she broke her leg d. Hiroshi, who is waiting to be called back to his job from which he was laid off five weeks ago

Questions 6 and 7 refer to the following information: The small town of East MacNeil has 1000 residents age 16 or older. During the survey week, 200 adult residents did not work—20 workers were home sick from their jobs, 10 shopkeepers were unable to open their stores due to bad weather, 50 were actively seeking work, 25 others had previously given up actively looking, and the others were either full-time students or home-makers. Of the 800 at work, 80 worked part-time but would have preferred full-time work.

6. The size of the labor force in East MacNeil is: a. 800 persons c. 880 persons b. 850 persons d. 1000 persons

7. The official unemployment rate in East MacNeil is: a. 50/800 c. 50/880 b. 80/800 d. 50/1000

Questions 3– 4 refer to the following diagram. Wages in both the union and nonunion sectors are initially $10. The union then negotiates a wage rate of $12. The post-negotiation nonunion wage is not yet known.

3. The measured union wage advantage in this market is: a. 20% c. $2 b. 25% d. More information is needed

4. The product market effect would be modeled by shifting the: a. nonunion supply curve to the right, increasing the measured union wage advantage b. nonunion demand curve to the right, reducing the measured union wage advantage c. union demand curve to the right, increasing the measured union wage advantage d. union supply curve to the right, reducing the pure union wage advantage

Explanation / Answer

"Unemployment is defined as a situation where someone of working age is not able to get a job but would like to be in full time employment." As per the definition, no one fits in. Because, no one is in search of a job.

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