7. Assuming the total population is 100 million, the civilian labor force is 60 million, and 54 million workers are employed, the unemployment rate is: A. 3 percent. B. 6 percent. C.7 percent. D. 10 percent. 8. Suppose there are 5 million unemployed workers seeking jobs. After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work. As a result of this, all else equal, the official unemployment rate would: A. decline. B. increase. C. increase in the short run but eventually decline. D. be unchanged. 9. Suppose there are 10 million part-time workers and 90 million full-time workers in an economy. Five million of the part-time workers switch to full-time work. As a result: A. the official unemployment rate will fall. B. the official unemployment rate will rise. C. the official unemployment rate will remain unchanged. D. the size of the labor force will increase.

7. Assuming the total population is 100 million, the civilian labor force is 60 million, and 54 million workers are employed, the unemployment rate is: A. 3 percent. B. 6 percent. C.7 percent. D. 10 percent. 8. Suppose there are 5 million unemployed workers seeking jobs. After a period of time, 1 million of them become discouraged over their job prospects and cease to look for work. As a result of this, all else equal, the official unemployment rate would: A. decline. B. increase. C. increase in the short run but eventually decline. D. be unchanged. 9. Suppose there are 10 million part-time workers and 90 million full-time workers in an economy. Five million of the part-time workers switch to full-time work. As a result: A. the official unemployment rate will fall. B. the official unemployment rate will rise. C. the official unemployment rate will remain unchanged. D. the size of the labor force will increase.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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