(66)Christopher is a musician who is out of work because increasingly electronic equipment is replacing live musicians at various gigs. This is an example of:

(a)Frictional unemployment

(b)Technological unemployment

(c)Natural rate of unemployment

(d)Cyclical unemployment

(67)Consider an economy made up of 150 million people, 100 million of whom hold jobs, 30 million of whom are looking for jobs, 8 million of those with jobs are underemployed and 4 million of whom are prisoners, 3 million are less than the legal working age of 16 years and the rest are retired workers and institutionalized persons. The underemployment rate is approximately:

(a)25 percent

(b)4 percent

(c)8 percent

(d)None of the above

(68)What is the rate of unemployment in the labor force referenced in Q#67 above?

(a)8 percent

(b)15 percent

(c)23 percent

(d)None of the above

(69)A person who voluntarily quits hisher job in Los Angeles and expects to get a similar job in Seattle is an example of:

(a)Cyclical unemployment

(b)Frictional unemployment

(c)Structural unemployment

(d)Seasonal unemployment

(70)The presence of discouraged workers may cause:

(a)The employment rate to be overrated

(b)The unemployment rate to be overstated

(c)The unemployment rate to be understated

(d)The employment rate to be understated

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Answers to your unemployment questions ... View the full answer