Unemployment Types, Job Search, and Wage Effects in Economics

In order to protect yourself from the harmful effects of unemployment, you should:

always wait to find the very best job when searching for work.

search for jobs only within the same company.

apply to jobs that are outside your skill set.

build new skills.

build new skills

People who are changing jobs are counted in _____ unemployment.

frictional

involuntary

cyclical

structural

frictional

Discouraged workers are _____.

people working for less money than they would like to

people working part-time but would like to work full-time

not working, want to work, but are not actively seeking a job

people working at a job that requires less education than they have

not working, want to work, but are not actively seeking a job

Efficiency wages encourage workers to:

remain in their current jobs.

leave the labor force.

look for better jobs.

get more job training.

remain in their current jobs.

A person who spends time looking for work is:

usually counted as a discouraged worker.

engaged in job search.

usually counted as a marginally attached worker.

counted as out of the labor force.

engaged in job search.

Unemployment due to the time workers spend in job search is _____ unemployment.

structural

frictional

cyclical

natural

frictional

Unemployment insurance can lead to:

longer unemployment durations.

fewer unemployment benefit claims.

a reduction in the government budget deficit.

an increase in the number of retirees

longer unemployment durations.

An example of a structurally unemployed worker is a(n):

geologist who is permanently laid off because of an increase in wages won by labor unions.

autoworker who is temporarily laid off because of a decline in sales.

real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.

worker at a fast-food restaurant who quits work to attend college.

geologist who is permanently laid off because of an increase in wages won by labor unions.

You're in charge of hiring the new team members for a new Amazon fulfillment center. You're considering paying your team members an efficiency wage, but you're aware of the potential trade-offs. If your goal is productivity and low turn-over, you _____ hire with an efficiency wage. If Amazon's instructions include being mindful of unemployment in your area, you _____ hire with an efficiency wage.

should; should

should not; should not

should; should not

should not; should

should; should not

Andre recently moved to Boston with his partner Deja, who has a new job as an economics professor at Harvard. Andre is an experienced surgeon who is interviewing with several hospitals in Boston. Andre is:

structurally unemployed.

counted as employed, since he is likely to receive a job offer soon.

cyclically unemployed.

frictionally unemployed

frictionally unemployed

A binding minimum wage in a labor market is set _____ the equilibrium wage and causes a _____ of job-seekers.

below; surplus

below; shortage

above; surplus

above; shortage

above; surplus