Economics Principles, Applications And Tools 8th Edition by Arthur O’Sullivan – Test Bank 2021

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The presence of unemployment in the labor market implies that: 1. A) at the current wage, there are people who want to work but cannot find work. 2. B) people are not willing to work at the current ... wage. 3. C) there are some people who will not work at the current wage. 4. D) there is excess demand in the labor market. Answer: A Diff: 1 Topic: How is Unemployment Defined and Measured? Skill: Conceptual AACSB: Reflective Thinking Learning Outcome: Identify different types and measures of unemployment and discuss its causes. 2) A person who is currently actively looking for a job, but has not found a job is classified by the BLS as: 1. A) unemployed. 2. B) employed. 3. C) not in the labor force. 4. D) under 16. Answer: A Diff: 1 Topic: How is Unemployment Defined and Measured? Skill: Definition AACSB: Reflective Thinking Learning Outcome: Identify different types and measures of unemployment and discuss its causes. 3) A person who is currently actively looking for a job, but has a job that pays for 5 hours a week only is classified by the BLS as: 1. A) unemployed. 2. B) employed. [Show More]

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