The total number of people aged 16 years and over who are not institutionalized ________________.

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

The unemployment rate is the _______ who are unemployed.

percentage of people in the country
number of people in the labor force
percentage of people in the labor force
percentage of the working-age population

The labor force participation rate is percentage of the _______ who are in the labor force.

people over age 16
population
working-age population
people under age 65

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

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

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

money; real; CPI
real; money; inflation rate
real; money; price level
money; real; inflation rate

The largest source of unemployment is ________________________.

retirees
job leavers
job losers
discouraged workers

Students who leave school in the spring and look for work are one source of __________________.

structural unemployment
business-cycle fluctuations
frictional unemployment
cyclical unemployment

The natural rate of unemployment ____________________.

is the same from year to year
equals zero
is the unemployment rate when there is no cyclical unemployment
is greater than the actual rate of unemployment

An economy is at full employment when _______________________.

there is no frictional unemployment
the unemployment rate is zero
the unemployment rate equals the natural rate of unemployment
there is no structural unemployment

Discouraged workers often ____________________.

leave the labor force during an expansion
take early retirement
leave the labor force during a recession
enter the labor force during a recession

Please enter your name and press the SEND button