When the economy is at full employment, whit types of unemployment may exist? no

Question

When the economy is at full employment, whit types of unemployment may exist? none frictional, cyclical, and structural cyclical structural and frictional seasonal and cyclical People who are not currently employed, but say they want a job, are counted as unemployed only if they are actively seeking employment are willing to accept any offer of employment are willing to accept a reasonable offer are between 16 and 6S years of age have previously held a job Which of the following would be included in this year's GDP? that bucket of Kentucky fried Chicken you bought this July the used car Tracey sold to Justin George Garcia s purchase of a fishing rod and reel at a garage sale the S20 Sharon Johnson give Dennis O'Brien as a reward for finding her lost wedding ring e one hundred shares of IBM stock that Tony Hanks bough! this May Your cousin recently graduated from Harvard Law School and has not found a job after looking for one last week. She can be described as not part of the labor force seasonally unemployed frictionally unemployed structurally unemployed a discouraged worker A period of sustained growth of output in the economy is referred to as a(n) recession trough contraction expansion peak Which of the following is NOT an example of an independent variable in Economics: The price of a consumer good The price of a producer good (e.g.. a piece of machinery or software) The amount of second hand goods offered for a charity bazaar after a storm A government tax A subsidy to farmers

Explanation / Answer

21. Natural rate of unemployment prevails.This is the sum of structural and frictional unemployment.This sum is defined as the full employment unemployment rate.

Ans: d

22. Ans: a

They have to actively seek for a job to be considered unemployed.

23.To calculate GDP we only include sum of all final products produced within the economy in a given period. Transfer payments are not included.

Ans. a

24. Ans. C

frictional unemployment occurs when it takes time for an individual to find the right new job.

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