#1
What is the term for the unemployment that occurs when workers are in between jobs or entering the workforce for the first time?
Frictional unemployment
ExplanationTemporary joblessness during transitions.
#2
Which government agency in the United States publishes the monthly unemployment rate?
Department of Labor
ExplanationOfficial body reporting job statistics.
#3
What is the purpose of unemployment insurance?
To compensate workers who lose their jobs
ExplanationProviding financial support to jobless individuals.
#4
Which of the following is considered a type of unemployment caused by changes in the business cycle?
Cyclical unemployment
ExplanationUnemployment linked to economic fluctuations.
#5
What does the labor force participation rate measure?
The percentage of the working-age population that is employed or actively seeking employment
ExplanationRate indicating the proportion of people willing to work.
#6
Which of the following is an example of involuntary unemployment?
A worker being laid off due to a factory closure
ExplanationJob loss beyond the worker's control.
#7
What is the term for the unemployment that occurs during specific times of the year when certain industries slow down their operations?
Seasonal unemployment
ExplanationJoblessness linked to seasonal trends.
#8
What is the primary focus of the Bureau of Labor Statistics (BLS) in the United States?
Unemployment rate measurement
ExplanationCollecting and analyzing job data.
#9
Which factor is most likely to contribute to frictional unemployment?
Changes in consumer preferences
ExplanationShifts in consumer behavior affecting job search.
#10
Which of the following factors contributes to structural unemployment?
Mismatch between skills demanded by employers and those possessed by workers
ExplanationJoblessness due to skills mismatch.
#11
What is the natural rate of unemployment?
The lowest rate of unemployment achievable without causing inflation
ExplanationUnemployment level avoiding inflationary pressure.
#12
Which economic concept refers to the mismatch between the skills workers possess and the skills employers require?
Skill gap
ExplanationDiscrepancy in needed and available skills.
#13
What is the Phillips curve used to illustrate in the context of unemployment and inflation?
The trade-off between unemployment and inflation
ExplanationInverse relationship between joblessness and inflation.
#14
Which of the following is an example of a cyclical unemployment solution?
Implementing monetary policy to stimulate economic growth
ExplanationUsing economic measures to counter downturns.
#15
In which phase of the business cycle is structural unemployment likely to increase?
Recession
ExplanationPeriods of economic contraction.