If the unemployment rate is 8 percent, then this means: the number of unemployed persons equals 8 percent of the employed persons. 8 percent of the population age over sixteen is unemployed. O 8 percent of the population is unemployed. O 8 percent of the labor force is unemployed.

If the unemployment rate is 8 percent, then this means: the number of unemployed persons equals 8 percent of the employed persons. 8 percent of the population age over sixteen is unemployed. O 8 percent of the population is unemployed. O 8 percent of the labor force is unemployed.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the unemployment rate is 8 percent, then this means:
the number of unemployed persons equals 8 percent of the employed persons.
8 percent of the population age over sixteen is unemployed.
O 8 percent of the population is unemployed.
O 8 percent of the labor force is unemployed.

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The following table contains information for the U.S. for 1998. Thousands of U.S. Economy: 1998 Persons Civilian labor force 137,565 Civilian employment Civilian working-age population 131,293 205.015 Compute the unemployment rate and the labor force participation rate. O A. Unemployment rate = 9.54 percent; Labor force participation rate = 67.1 percent. O B. Unemployment rate = 4.56 percent; Labor force participation rate = 95.44 percent. O C. Unemployment rate = 3.06 percent; Labor force participation rate = 48.8 percent. O D. Unemployment rate = 4.56 percent; Labor force participation rate = 67.1 percent.
59
Unemployment that occurs from fundamental technological changes in the production, or from the substitution of new goods for traditional ones, is known as: structural unemployment. O frictional unemployment. O underemployment. O cyclical unemployment.
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