The Current Population Survey Will Not Count You as Unemployed

question 60

Multiple Choice

The Current Population Survey will not count you as unemployed if you

• A) have been laid off from your job.
• B) lose your job due to a cyclical downturn in the economy.
• C) lose your job due to corporate downsizing.
• D) have quit looking for a job due to weak labor market conditions.
• E) have neither the right qualifications nor experience for the available jobs.

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Definitions:

Economic Efficiency

A condition in which all available resources are utilized in the most effective manner to satisfy society's needs and wants, minimizing waste and maximizing value.

Market Price

The current market value at which an asset or service is up for sale or purchase.

External Benefits

Positive effects experienced by those not directly involved in an economic transaction.

Efficient Equilibrium

A state in which resources are allocated in the most efficient manner, leaving no potential for reallocating resources to make someone better off without making someone else worse off.