The BLS counts Jody as being unemployed if she_______. had a job last month but

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The BLS counts Jody as being unemployed if she_______. had a job last month but not this month doesn't have a job because the U.S. factory where she worked cannot compete with cheap Chinese imports wants a job and looked for a job last year but has now stopped looking wants a job and is willing to take a job but after searching last week cannot find a job A marginally attached worker is a person who_____. works part time for economic reasons works part time for noneconomic reasons doesn't work, is available and willing to work, but hasn't looked for a job recently has no job but would like one and has gone back to school to retrain If the BLS included all marginally attached workers as being unemployed, the_______would be_________. unemployment rate; higher labor force; unchanged labor force participation rate; lower unemployment rate; lower When the economy goes into recession, the biggest increase in unemployment is____________. structural because jobs are lost in most states cyclical because jobs are lost in many industries as they cut production frictional because the creation of jobs slows the combination of structural and frictional as few new jobs are created The economy is at full employment when all unemployment is___________. structural cyclical structural and cyclical structural and frictional Potential GDP is the value of real GDP when____________. the unemployment rate equals the natural unemployment rate there is no frictional unemployment there is no structural unemployment the unemployment rate is zero When the unemployment rate_________the natural unemployment rate, real GDP is___________potential GDP and the output gap is__________. exceeds; below; negative is below; below; negative exceeds; above; positive is below; above; negative

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