Question 1

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Accepted Answer

A) True 
 B)False

Question 2

The Bureau of Labor Statistics produces data on unemployment

Accepted Answer

A)   weekly.
B)   monthly.
C)   quarterly.
D)   yearly.E) A) and B)
F) B) and C)

Question 3

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Accepted Answer

A)   those unemployed relative to those employed.
B)   the labor force that is unemployed.
C)   the adult population that is unemployed.
D)   the adult population that is unemployed or not in the labor force.E) A) and B)
F) A) and C)

Question 4

Which of the following is not correct?

Accepted Answer

A)   The unemployment rate is an imperfect measure of a nation's overall level of economic well-being.
B)   Most job search in the U.S.economy takes place without intervention by the government.
C)   Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.
D)   Other things the same,countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.E) A) and B)
F) None of the above

Question 5

Table 15-1
Labor Data for Aridia
 
-Refer to Table 15-1.The number of adults not in the labor force of Aridia

Accepted Answer

A)   increased from 2010 to 2011 and increased from 2011 to 2012.
B)   increased from 2010 to 2011 and decreased from 2011 to 2012.
C)   decreased from 2010 to 2011 and increased from 2011 to 2012.
D)   decreased from 2010 to 2011 and decreased from 2011 to 2012.E) None of the above
F) C) and D)

Question 6

Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   Chris,an unpaid homemaker not looking for other work
B)   Marcus,a full-time student not looking for work
C)   Gabe,who does not have a job,but is looking for work
D)   None of the above is correct.E) B) and C)
F) All of the above

Question 7

Between the 1940s and today,union membership in the U.S.

Accepted Answer

A)   rose from about one-eighth to one-third of the labor force.
B)   rose from about one-third to one-half of the labor force.
C)   fell from about one-half to one-third of the labor force.
D)   fell from about one-third to one-eighth of the labor force.E) C) and D)
F) A) and D)

Question 8

The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries.

Accepted Answer

A) True 
 B)False

Question 9

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

Accepted Answer

A)   monthly survey of about 60,000 households
B)   monthly survey of about 6,000 households
C)   weekly survey of about 60,000 households
D)   weekly survey of about 6,000 householdsE) A) and D)
F) A) and C)

Question 10

Some individuals would like to have a job,but they have given up looking for a job after an unsuccessful search.These individuals are called

Accepted Answer

A)   detached workers,and they are classified by the Bureau of Labor Statistics as unemployed.
B)   detached workers,and they are not classified by the Bureau of Labor Statistics as unemployed.
C)   discouraged workers,and they are classified by the Bureau of Labor Statistics as unemployed.
D)   discouraged workers,and they are not classified by the Bureau of Labor Statistics as unemployed.E) B) and C)
F) None of the above

Question 11

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

Accepted Answer

A) True 
 B)False

Question 12

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   natural rate of unemployment.
D)   structural unemployment.E) B) and D)
F) A) and C)

Question 13

The labor-force participation rate tells us the fraction of the population that

Accepted Answer

A)   is able to participate in the labor market.
B)   has ever been employed.
C)   has chosen to participate in the labor market.
D)   has chosen not to participate in the labor market.E) C) and D)
F) A) and B)

Question 14

Table 15-5
2010 Labor Data for Tajnia
 
-Refer to Table 15-5.The unemployment rate of Tajnia in 2010 is about 7.5 percent.

Accepted Answer

A) True 
 B)False

Question 15

Frictional unemployment is

Accepted Answer

A)   not inevitable;rather,it can be reduced to zero by well-designed public policies.
B)   not inevitable;rather,it could be reduced to zero if by the elimination of unemployment insurance.
C)   inevitable,because at any given time,jobs are being created in some firms and destroyed in other firms.
D)   inevitable,because in some industries,wages are always set above the level that brings supply and demand into equilibrium.E) None of the above
F) A) and D)

Question 16

Tom was laid off and is expecting to be recalled.He has not looked for work since being laid off.Bill is not employed and not laid off.Who is counted as unemployed in the U.S.labor force statistics?

Accepted Answer

A)   Tom and Bill even if he has not looked for work during the previous 4 weeks.
B)   Tom and Bill if he has looked for work during the previous 4 weeks.
C)   Not Tom.Bill even if he has not looked for work during the previous 4 weeks.
D)   Not Tom.Bill if he has looked for work during the previous 4 weeks.E) All of the above
F) B) and C)

Question 17

If the wage is kept above the equilibrium level for any reason,the result is unemployment.

Accepted Answer

A) True 
 B)False

Question 18

The unemployment rate is computed as the number of unemployed

Accepted Answer

A)   divided by the labor force,all times 100.
B)   divided by the number of employed,all times 100.
C)   divided by the adult population,all times 100.
D)   times the labor-force participation rate,all times 100.E) B) and D)
F) A) and C)

Question 19

Most economists believe unions are bad for the economy as a whole.

Accepted Answer

A) True 
 B)False

Question 20

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

Which of the following is not correct?

Correct AnswerverifiedShow Answer

Table 15-1 Labor Data for Aridia -Refer to Table 15-1.The number of adults not in the labor force of Aridia

Correct AnswerverifiedShow Answer

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Correct AnswerverifiedShow Answer

Most economists believe unions are bad for the economy as a whole.

Correct AnswerverifiedShow Answer

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Correct AnswerverifiedShow Answer

Tom was laid off and is expecting to be recalled.He has not looked for work since being laid off.Bill is not employed and not laid off.Who is counted as unemployed in the U.S.labor force statistics?

Correct AnswerverifiedShow Answer

The unemployment rate is computed as the number of unemployed

Correct AnswerverifiedShow Answer

Table 15-5 2010 Labor Data for Tajnia -Refer to Table 15-5.The unemployment rate of Tajnia in 2010 is about 7.5 percent.

Correct AnswerverifiedShow Answer

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no

Correct AnswerverifiedShow Answer

The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries.

Correct AnswerverifiedShow Answer

Frictional unemployment is

Correct AnswerverifiedShow Answer

If the wage is kept above the equilibrium level for any reason,the result is unemployment.

Correct AnswerverifiedShow Answer

Between the 1940s and today,union membership in the U.S.

Correct AnswerverifiedShow Answer

Some individuals would like to have a job,but they have given up looking for a job after an unsuccessful search.These individuals are called

Correct AnswerverifiedShow Answer

Who is included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

Correct AnswerverifiedShow Answer

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Correct AnswerverifiedShow Answer

The labor-force participation rate tells us the fraction of the population that

Correct AnswerverifiedShow Answer

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