FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 28: Unemployment and Its Natural Rate

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 231

Multiple Choice

Review LaterAdd Note

Review Later

The Bureau of Labor Statistics places people in the "employed" category if they

A) are temporarily absent from their jobs.
B) are self-employed.
C) work without pay in a family member's business.
D) All of the above are correct.

E) A) and C)
F) B) and C)

Correct Answer

verified

Show Answer

Question 232

Multiple Choice

Review LaterAdd Note

Review Later

In 2016 the Bureau of Labor Statistics reported that there were 23.5 million people over age 25 who had no high school degree or its equivalent. Of these 9.7 million were employed and .75 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

A) 41.3% and 3.2%
B) 41.3% and 7.2%
C) 44.5% and 3.2%
D) 44.5% and 7.2%

E) A) and B)
F) B) and C)

Correct Answer

verified

Show Answer

Question 233

True/False

Review LaterAdd Note

The rate of unemployment in a country is unrelated to its level of GDP.

Table 28-6 -Refer to Table 28-6. What is the U-2 measure of labor underutilization?

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia

Define the natural rate of unemployment and cyclical unemployment.

Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $6 in Productionville, how many people would be unemployed?

Efficiency wages

Provide a definition of the natural rate of unemployment.

Figure 28-4 ​ -Refer to Figure 28-4. If the government imposes a minimum wage of $8, how many workers will be unemployed?

Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions. Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use.

Figure 28-4 ​ -Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed?

Figure 28-3 -Refer to Figure 28-3. At the equilibrium wage, how many workers are unemployed?

Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then

In 2016 the Bureau of Labor Statistics reported that there were 71.9 million people over age 25 who had at least a bachelor's degree. Of these 52.1 million were employed and 1.3 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Table 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult population in Meditor?

The Bureau of Labor Statistics' U-1 measure of joblessness is smaller than its U-6 measure of joblessness.

The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates.

Table 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult male unemployment rate in Meditor?

Job search is the process of matching workers with appropriate jobs.