Measuring Unemployment: High School Economics Quiz & Answers

📚 Quick Study Guide

• 🧑‍💼 Unemployment Rate: Percentage of the labor force that is unemployed.
• 🔢 Labor Force: Employed + Unemployed individuals.
• 🚫 Not in Labor Force: Students, retirees, discouraged workers.
• 📝 Unemployment Rate Formula: $\frac{\text{Number of Unemployed}}{\text{Labor Force}} \times 100$
• 📈 Types of Unemployment: Frictional, Structural, Cyclical.
• 🔍 Frictional Unemployment: Temporary unemployment as people change jobs.
• ⚙️ Structural Unemployment: Mismatch between skills and available jobs.
• cyclical Unemployment: Unemployment due to economic downturns.

🧑‍🏫 Practice Quiz

1. What is the formula for calculating the unemployment rate?
   1. $\frac{\text{Number of Employed}}{\text{Labor Force}} \times 100$
   2. $\frac{\text{Number of Unemployed}}{\text{Population}} \times 100$
   3. $\frac{\text{Number of Unemployed}}{\text{Labor Force}} \times 100$
   4. $\frac{\text{Labor Force}}{\text{Population}} \times 100$
2. Which of the following is NOT included in the labor force?
   1. Employed individuals
   2. Unemployed individuals actively seeking work
   3. Full-time students
   4. Part-time workers
3. What type of unemployment is caused by a recession?
   1. Frictional
   2. Structural
   3. Cyclical
   4. Seasonal
4. A software engineer loses their job because their skills are no longer needed due to technological advancements. This is an example of:
   1. Frictional unemployment
   2. Cyclical unemployment
   3. Structural unemployment
   4. Seasonal unemployment
5. Someone who quits their job to find a better one is experiencing:
   1. Cyclical unemployment
   2. Structural unemployment
   3. Frictional unemployment
   4. Discouraged unemployment
6. If the number of unemployed is 5 million and the labor force is 100 million, what is the unemployment rate?
   1. 2%
   2. 5%
   3. 10%
   4. 20%
7. Which of the following best describes 'discouraged workers'?
   1. People who are employed but want a different job.
   2. People who are unemployed and actively seeking work.
   3. People who have given up looking for a job.
   4. People who are temporarily laid off.