Chapter 8 Reading Quiz

Question 1

All of these are considered employed except

  part-time workers 
  retirees 
  sole proprietors 
  a person who works for free in a family business 
 
Question 2

Which group of people are not in the labor force?

  part-time workers 
  homemakers 
  unemployed people looking for work 
  contract workers 
 
Question 3

There are currently 2183.6 thousand people unemployed and 17845.90 thousand people employed in Canada. What is the unemployment rate?

  8.17% 
  10.9% 
  12.2% 
  9.17% 
 
Question 4

A person who does not have a job, but is actively looking for one is

  employed 
  a discouraged worker 
  unemployed 
  not in the labor force 
 
Question 5

A person with a graduate degree working in a minimum wage job is an example of

  a discouraged worker 
  an implicit contract 
  unemployment 
  underemployment 
 
Question 6

In South Korea, there are 1,038,000 unemployed and 27,640,000 employed persons. The labor force participation rate is 62.2%. What is the adult population of South Korea?

  46,106,109 people 
  1,783,772,000 people 
  461,061 people 
  28,678,000 people 
 
Question 7

When individuals are out of work because their particular skills have become obsolete, this is called
  cyclical unemployment 
  structural unemployment 
  frictional unemployment 
  underemployment 
 
Question 8

Sticky wages occur when wages are 

  paid on time 
  slow to adjust 
  quick to adjust 
  flexible 
 
Question 9

When unemployment falls when the economy grows and rises when the economy contracts, this is called

  the natural rate of unemployment 
  cyclical unemployment 
  underemployment 
  frictional unemployment 
 
Question 10

Unemployment benefits may keep the unemployment rate from falling because
  the economy will recover slowly 
  unemployment benefits create an incentive to not seek work 
  unemployment benefits create an incentive to seek work 
  the economy will recover quickly 

Chapter 8 Reading Quiz Answers