Roughly how large was the working-age population (16 years or older) in the U.S. in 2011?
A. 315 million
B. 306 million
C. 240 million
D. 140 million
E. 86 million
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In 2009, the high unemployment rate in the U.S. caused a loss in real GDP of roughly
A. $68 billion
B. $168 billion
C. $680 billion
D. $1,168 billion
E. none of the above
Which country below had the lowest unemployment rate in 2011?
A. France
B. Germany
C. Sweden
D. United Kingdom
E. United States
Which of the following statements is FALSE?
A. the availability of unemployment benefits reduces the natural rate of unemployment
B. the natural rate of unemployment can be reduced by policies designed to affect the composition of the labor force
C. high rates of unemployment often have a way of perpetuating themselves
D. the unemployment rate among white males 20 years and older is lower than the overall unemployment rate
E. even when the economy is at the full-employment level of output, some frictional unemployment still exists
The natural rate of unemployment is
A. zero since everyone who is unemployed is voluntarily unemployed
B. determined in part by labor market frictions as people changes careers, etc.
C. rarely more than 3 percent
D. the amount of unemployment caused by an average recession
E. generally the result of misguided government policy
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