ECON 200 UOFA Final Exam Version 1

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ECON 200 UOFA Final Exam Version 1 Newest 2025 Complete 100 Questions And Correct Answers (Verified Answers) |Already Graded A+||Brand New!!

The Bureau of Labor Statistics classifies people who would like to work but have given up looking for a job as

• unemployed. If they were classified as out of the labor force,

the reported unemployment rate would belarger.

• unemployed. If they were classified as out of the labor force,

the reported unemployment rate would besmaller.

• out of the labor force. If they were classified as unemployed,

the reported unemployment rate would belarger.

• out of the labor force. If they were classified as unemployed,

the reported unemployment rate would besmaller.8. - ANSWER- C

A survey showed that in each of the past 12 months there was one person who was unemployed who worked in all other months. There were also two people who were unemployed for all 12 months. What percentage of the unemployment spells 1 / 4

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during the year was short term, and what percentage of the unemployment in a given month was long term?

• 75% was short term; 33.3% was long term
• 75% was short term; 66.7% was long term
• 85.7% was short term; 33.3% was long term
• 85.7% was short term; 66.7% was long term - ANSWER-D

Sectoral shifts in demand for output

• create structural unemployment.
• immediately reduce unemployment.
• increase unemployment due to job search.
• do not affect demand for labor. - ANSWER-C

From time to time, the demand for workers has risen in one region of the United States and fallen in another. This illustrates

• frictional unemployment created by efficiency wages.
• structural unemployment created by efficiency wages.
• frictional unemployment created by sectoral shifts. 2 / 4

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• structural unemployment created by sectoral shifts -

ANSWER-C

Which of the following does not help reduce frictional unemployment?

• government-run employment agencies
• public training programs
• unemployment insurance
• All of the above help reduce frictional unemployment -

ANSWER-C

Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment.

• Almost all economists agree that such programs are of no use.
• Almost all economists agree that such programs work very

well.

• Some economists claim that the government can do these

things no better than firms and individuals could do them for themselves. 3 / 4

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• Some economists claim that these programs increase

frictional unemployment. - ANSWER-C

Other things the same, an increase in wages above their equilibrium level

• increases frictional unemployment but leaves the natural rate

of unemployment unchanged.

• increases frictional unemployment and increases the natural

rate of unemployment.

• increases structural unemployment but leaves the natural rate

of unemployment unchanged.

• increases structural unemployment and increases the natural

rate of unemployment. - ANSWER-D

Workers searching for jobs that best suit them is most closely associated with

• cyclical unemployment.
• frictional unemployment.
• seasonal unemployment.
• structural unemployment. - ANSWER-B
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