Question : 6.1   Labor Market Indicators 1) The Bureau of Labor Statistics (BLS) : 1238454

6.1   Labor Market Indicators

1) The Bureau of Labor Statistics (BLS) compiles information about employment by

A) performing a census of every household in the nation.

B) performing a quarterly survey 6,000,000 households.

C) performing a monthly survey of 60,000 households.

D) determining the average estimate of labor market specialists around the nation.

E) contacting each of the 50 states’ Departments of Labor.

2) In order to obtain the data used to calculate the unemployment rate, the Bureau of Labor Statistics

A) adds the number of people collecting unemployment insurance from each state.

B) adds the state unemployment claims reports.

C) uses a survey from 60,000 households.

D) adds together all the reports of layoffs from businesses.

E) uses a survey from 160,000 firms.

3) The purpose of the Current Population Survey is to determine the

A) number of people in the population.

B) employment status of the population.

C) age structure of the population.

D) income level of the population.

E) prices consumers pay for the goods and services they buy.

4) The working-age population includes

A) those in jails and hospitals.

B) youngsters between the ages of 14 and 16 if they are working at least part time.

C) employed and unemployed people over the age of 16.

D) only employed people over the age of 16.

E) people over the age of 16 who are in the Army.

5) Which of the following is true?

A) To be classified as employed, you must be a full-time worker at a paid job.

B) To be classified as employed, you must work at least 20 hours per week at a paid job.

C) Part-time workers are all those who work less than 40 hours per week.

D) To be classified as employed, you must work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business.

E) If you are not working and turn down a job offer in the previous week, you are no longer classified as unemployed.

6) An unpaid worker in a family business is classified as

A) not in the labor force.

B) employed no matter how many hours the person worked in the previous week.

C) unemployed no matter how many hours the person worked in the previous week.

D) employed if the person worked at least 15 hours in the previous week.

E) unemployed only if the person worked no hours in the previous week.

7) After graduating from college, Yunis, age 22, started working for his parents’ real estate business as an unpaid assistant. He works 25 hours a week helping manage rental units. In the Current Population Survey, Yunis is considered

A) part of the labor force and unemployed.

B) part of the labor force and employed.

C) not part of the labor force.

D) a discouraged worker.

E) part of the labor force but not part of the working-age population.

8) If KeKe, age 32, worked 12 hours as a paid employee the week before the Current Population Survey, KeKe is classified in the Current Population Survey as ________ when calculating the unemployment rate.

A) unemployed

B) employed

C) a discouraged worker

D) not in the labor force

E) underemployed

9) Suppose a 23-year old graduate student is looking for a full-time job , but has to take a part-time job instead. He or she will be categorized in the Current Population Survey as ________ when calculating the unemployment rate.

A) unemployed

B) employed

C) not in the labor force

D) a discouraged worker

E) underemployed

10) Which of the following people would be classified as employed in the Current Population Survey?

A) Rich, who is working 20 hours a week but wants a full-time job

B) Misty, who just quit her job to return full time to school

C) April, who just graduated from college and is looking for work

D) Jason, who was laid off from work less than 6 months ago but who has stopped looking for work

E) Laura, who is unpaid but is working 10 hours a week in the family business she and her husband run