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The Following Items Describe the Responses of Four Individuals to a Bureau

question 89

Multiple Choice

The following items describe the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment. 1. Mollie just graduated from college and is now looking for work. She has had three job interviews in the past month, but still has not gotten a job offer.
2) George used to work in an automotive assembly plant. He was laid off six months ago as the economy weakened. He expects to return to work in a few months when national economic conditions improve.
3) Jeanette worked as an aircraft design engineer for a company that produces military aircraft until she lost her job last year when the Federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in her aircraft design skills.
4) Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for a year, but was unsuccessful and quit looking for work.
Refer to the above information. Which individual is frictionally unemployed?

Definitions:

Generally Accepted Accounting Principles

The framework of guidelines for financial accounting that includes details on how accounting transactions should be reported.

Horizontal Analysis

A technique in financial analysis that compares line items in financial statements over a series of periods.

Vertical Analysis

A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets, liabilities, and equity) in a balance sheet is represented as a proportion of the total account.

Inventory Turnover

A measure of the liquidity of inventory; computed by dividing cost of goods sold by average inventory.