Question : 21) After the recession of 2007-2009, the unemployment rate peaked : 1244736

21) After the recession of 2007-2009, the unemployment rate peaked at 10.0 percent in October 2009. 18 months later, it had

A) dropped by 50 percent.

B) declined by only 1 percentage point.

C) remained at 10.1 percent.

D) fallen to the natural rate of unemployment.

22) The average period of unemployment was ________ following the 2007-2009 recession as following any other recession since the end of World War II.

A) three times as low

B) approximately the same

C) twice as high

D) eight times as high

23) Since 1948, the labor force participation rate for adult men has ________ and for adult women has ________.

A) increased; increased

B) increased; decreased

C) decreased; increased

D) decreased; decreased

24) Using a broader measure of the unemployment rate where discouraged workers and part-time workers who wished to work full time were counted as unemployed, the BLS estimates the unemployment rate in September 2011 would have ________ compared to the measured unemployment rate.

A) increased by more than 7 percentage points

B) more than doubled

C) decreased by less than 1 percentage point

D) barely changed

25) In the modern U.S. economy, the typical unemployed person stays unemployed for

A) a relatively long time, over a year.

B) a relatively short time, less than six months.

C) for a long time during expansions and short time during recessions.

D) an amount of time that is hard to quantify.

26) An advantage of the establishment survey over the household survey of the labor market is that the establishment survey

A) is based on actual payrolls, rather than on unverified answers.

B) includes the number of self-employed persons.

C) includes persons employed at newly opened firms.

D) provides an estimate of the number of persons unemployed.

27) An advantage of the household survey over the establishment survey of the labor market is that the household survey

A) is based on actual payrolls, rather than on unverified answers.

B) includes the number of self-employed persons.

C) includes the number of discouraged workers.

D) omits persons employed at newly opened firms.

28) Which of the following statements is true about the U.S. economy?

A) Each year, many new jobs are created, but few existing jobs are destroyed, and the unemployed find jobs quickly.

B) Each year, few new jobs are created, but few existing jobs are destroyed, keeping unemployment low.

C) Each year, many new jobs are created and many existing jobs are destroyed.

D) Each year few jobs are created, and therefore it takes the unemployed a long time to find a new job.

29) The labor force is the sum of

A) employed workers and discouraged workers.

B) employed workers and unemployed workers.

C) employed workers and individuals not looking for work.

D) employed workers and the working age population.

E) unemployed workers and the working age population.

30) Upon your graduation from college, you find that the economy is in recession and the unemployment rate is relatively high. Nonetheless, you continue along your career path looking for a new job because

A) the cost of additional education is always higher during recession.

B) high unemployment rates do not usually last for very long.

C) looking for work is your only option.

D) the wages of college graduates do not fall during recession.