Macro Chapter 9

If the unemployment rate turns out to be high or higher than anticipated, we would expect
that stock prices are more likely to fall
The Bureau of Labor Statistics would categorize a retiree who is not working as
out of the labor force
The labor force equals the number of people
employed plus unemployed
Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will
remain constant
Suppose the government launches a successful advertising campaign that convinces workers with high school degrees to quit their jobs and become full time college students. The labor force participation rate will
the labor force participation rate to decrease

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Which of the following cause the unemployment rate as measured by the B of LS to understate the true extent of joblessness?
discouraged workers
Which of the following cause the unemployment rate as measured by the BLS to overstate the true extent of joblessness?
unemployed persons falsely report themselves to be actively looking for a job
Using a broader measure of the unemployment rate where discourages workers and part-time workers who wished wo work full time were counted as unemployed, the BLS estimates the unemployment rate in Sept. 2011 would have _____ compared to the measured unemployment rate
increased by more than 7 percentage oiubts
An advantage of the established survey over the household survey of the labor market is that the establishment survey
is based on actual payrolls, rather than on unverified answers
Frictional unemployment is the result of
the search process of matching workers with jobs
A student who just graduated from college but has not found a job would most likely be
frictionally unemplyed
Cyclical unemployment is the result of
a slowdown in the economy
Structural unemployment is the result of
a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs
According to the text, economists consider full employment to occur when
the unemployment rate consists of only frictional and structural unemployment
If cyclical unemployment is eliminated in the economy, then
the economy is considereed to be at full employment
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