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ECON - Unit 4B
Test Description: SSEMA1bc
Instructions: Answer all questions to get your test result.
1) The unemployment rate is calculated by:
A
Congress
B
the Bureau of Labor Statistics
C
the Department of the Treasury
D
the FED
2) Which of the following groups would be considered employed?
A
people who are not actively seeking employment
B
people who work part-time
C
people under the age of 16
D
people in prison
3) Which type of unemployment is caused by an overall downturn in the economy?
A
structural/technological
B
frictional
C
seasonal
D
cyclical
4) Which type of unemployment occurs when graduates are looking for jobs and when people leave their current jobs to look for new ones?
A
structural/technological
B
frictional
C
seasonal
D
cyclical
5) Which type of unemployment happens when the human capital does not match the needs of the labor market?
A
seasonal
B
structural/technological
C
cyclical
D
frictional
6) Which type of unemployment occurs when human capital is only needed during specific times of the year?
A
frictional
B
cyclical
C
seasonal
D
structural/technological
7) The U.S. is considered to be fully employed when the unemployment rate is:
A
####
B
between 4% and 6%
C
at 0%
D
between 1% and 3%
8) A graph that shows how economic activity fluctuates over time is called:
A
the business cycle
B
circular flow
C
monetary policy
D
supply and demand
9) As the economy enters a phase of expansion:
A
there is a recession occurring
B
it is at the trough
C
it is also recovering
D
####
10) A recession occurs when:
A
there are two months of contraction
B
there are six months of contraction
C
there is one year of contraction
D
####
*select an answer for all questions
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