Question

which of the following are not omitted (left out) from the unemployment rate? (in other words who is in the labor force)
individuals who have retired from the workforce
workers who have lost their jobs and are seeking new employment
individuals who are not actively seeking jobs
workers who are employed part - time and are seeking full - time jobs
what is a depression?
a long period of high budget deficits
a long period of negative growth
a period where unemployment rates rise sharply
a period where industries are disrupted by competition

Explanation:

For the first question, the labor - force includes those who are employed and those who are unemployed but actively seeking work. Retired individuals, those not actively seeking jobs, and part - time workers seeking full - time jobs are not in the labor force in the context of the unemployment rate calculation. Workers who have lost their jobs and are seeking new employment are part of the labor force.
For the second question, a depression is defined as a long period of negative economic growth. High budget deficits are not the definition of a depression. A sharp rise in unemployment rates can be a symptom of a depression but not the definition. Industry disruption by competition is not the definition of a depression.

Answer:

1. B. workers who have lost their jobs and are seeking new employment
2. B. a long period of negative growth