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chapter 10 practice problem with answer.pdf

6 Pages
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Department
Economics
Course Code
ECON 1BB3
Professor
Bridget O' Shaughnessy

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Name: ________________________ Class: ___________________ Date: __________ problem set 10 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. The labor force equals the a. number of people who are employed. b. number of people who are unemployed. c. number of people employed plus the number of people unemployed. d. adult population. ____ 2. Ted is working part time. Alice is on temporary layoff. Who is counted as employed by the BLS? a. only Ted b. only Alice c. both Ted and Alice d. neither Ted nor Alice ____ 3. Jack is a full-time unpaid homemaker not currently searching for other work. Jill is a full-time student who is not looking for a job. Who does the BLS count in the labor force? a. only Jack b. only Jill c. both Jack and Jill d. neither Jack nor Jill ____ 4. Assuming everyone in the question below is in the adult population, which of the following is not correct? a. Elmo works part time as a baby sitter. The BLS counts him as employed and in the labor force. b. Anna is a full-time student not looking for a job. The BLS counts her as unemployed and in the labor force. c. Jim is on temporary layoff. The BLS counts him as unemployed and part of the labor force. d. Liz is seeking work, but has not found it. The BLS counts her as unemployed and in the labor force. ____ 5. Which of the following would be counted as unemployed according to official statistics? a. George, a full-time student who is not looking for work b. Jenna, who is on temporary layoff c. Larry, who has retired and is not looking for work d. All of the above would be counted as unemployed. ____ 6. Sam just lost his job, but isn't yet looking for a new one. Sam is a. counted as unemployed and part of the labor force. b. counted as unemployed, but not part of the labor force. c. not counted as unemployed, but counted as part of the labor force. d. not counted as unemployed or counted as part of the labor force. ____ 7.Whw oould not be included in the labor force? a. Sally, who is on temporary layoff b. Sue, who has retired and is not looking for work c. Kylie, who does not have a job, but has applied for several in the last week d. None of the above is included in the labor force. ____ 8. Who would be included in the labor force? a. Dakota, an unpaid homemaker not looking for other work b. Brad, a full-time student not looking for work c. Maggie, who does not have a job, but is looking for work d. None of the above is included in the labor force. 1 Name: ________________________ ID: A ____ 9. Which of the following correctly ranks categories from smallest to largest according to recent U.S. statistics? a. unemployed, employed, not in labor force b. unemployed, not in labor force, employed c. not in labor force, employed, unemployed d. not in labor force, unemployed, employed ____ 10. A person who is counted as unemployed by the BLS is a. also in the labor force. b. must have recently looked for work or be on temporary layoff. c. be age 16 or over. d. All of the above are correct. ____ 11. Latoya, an unpaid homemaker who works as a volunteer at the local Red Cross and is currently not looking for a paid job, is counted as a. employed and in the labor force. b. unemployed and in the labor force. c. unemployed but not in the labor force. d. not in the labor force. ____ 12. The unemployment rate is computed as the number of unemployed a. divided by the labor force times 100. b. divided by the number of people employed times 100. c. divided by the adult population times 100. d. times the participation rate times 100. ____ 13. The labor-force participation rate measures the percentage of the a. total adult population that is in the labor force. b. total adult population that is employed. c. labor force that is employed. d. labor force that is either employed or unemployed. Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. 1. Not in labor force a. male: 45 million b. female: 35 million 2. Unemployed a. male: 5 million b. female: 5 million 3. Employed a. male: 85 million b. female: 65 million ____ 14. Refer to Labor Stats. What is the adult population in Meditor? a. 90 million b. 150 million c. 160 million d. 240 million ____ 15. Refer to Labor Stats. What is the adult unemployment rate in Meditor? a. 4.12% b. 6.25% c. 11.11% d. 12.50% 2 Name: ________________________ ID: A ____ 16. Refer to Labor Stats. What is the adult female population in Meditor? a. 35 million b. 40 million c. 70 million d. 105 million ____ 17. Refer to Labor Stats. What is the adult male population in Meditor? a. 85 million b. 120 million c. 135 million d. 240 million ____ 18. Refer to Labor Stats. What is the adult male labor force in Meditor? a. 85 million
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