The total number of people between 16 years old and retirement who are not institutionized _____________.

equals the number of people employed plus the number of people unemployed
does not include students
is the working-age population
is the workforce

The unemployment rate is the _______ who are unemployed.

percentage of people in the workforce
percentage of people in the country
number of people in the workforce
percentage of the working-age population

The economic activity rate is percentage of the _______ who are in the workforce.

working-age population
discouraged workers
people under age 65
population

The percentage of the people of working age who have jobs is called the ____________________.

employment-to-population ratio
inverse of the unemployment rate
workforce
employment-to-working-age-population ratio

The _______ wage rate is equal to the _______ wage rate divided by the _______.

real; money; price level
money; real; RPI
money; real; rate of inflation
real; money; rate of inflation

The largest source of unemployment in the 1990s was _______________.

discouraged workers
job losers
job leavers
retirees

Students who leave school in the summer and look for work are one source of ______________.

cyclical unemployment
frictional unemployment
structural unemployment
business cycle fluctuation

The natural rate of employment _____________.

is greater than the actual rate of unemployment
occurs when cyclical unemployment equals zero
is always constant
equals zero

Full employment __________________.

cannot occur when structural unemployment exists
occurs at the natural rate of unemployment
occurs during an inflationary gap
equals zero

Discouraged workers often _________________.

take early retirement
enter the workforce during a recession
leave the workforce during an expansion
leave the workforce during a recession