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Exam 28: Unemployment and Its Natural Rate

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Question 61

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The Internet may reduce frictional unemployment because it __________.

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reduces the search c...

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Question 62

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The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse but created jobs for telegraph operators and delivery persons. This is an example of

A) structural unemployment created by efficiency wages.
B) structural unemployment created by sectoral shifts.
C) frictional unemployment created by efficiency wages.
D) frictional unemployment created by sectoral shifts.

E) A) and B)
F) All of the above

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Question 63

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In the absence of right-to-work laws, workers

The introduction of a union into a firm benefits all of that firm's workers.

In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage. As a result, turnover and absenteeism fell and productivity and profits rose.

According to the theory of efficiency wages, if a firm stops paying efficiency wages it is likely to see a(n)

Frictional unemployment can be the consequence of

The Bureau of Labor Statistics' household survey and establishment survey both yield the same results about total employment.

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

When a country keeps its workers as fully employed as possible, it achieves a higher level of GDP than if many of its workers were idle.

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor-force participation rate of Aridia in 2010 was

Structural unemployment results when the number of jobs is insufficient for the number of workers.

Olga owns her own business. Sven is an unpaid worker in his family's business. Who is included in the Bureau of Labor Statistics' "employed" category?

Which of the following is not a cause of frictional unemployment?

Consider two people who are currently out of work. Tim is not looking for work because there have been many job cuts where he lives, and he doesn't think it likely that he will find work. Bev is not currently looking for work, but she would like a job, and she has looked for work in the past. The Bureau of Labor Statistics considers

Economists at the Congressional Budget Office estimated that for 2015, the U.S. natural rate of unemployment was

According to 2014 data on the U.S. population, which of the following groups of teenagers (ages 16-19) had the lowest unemployment rate?

Anna recently graduated from college with a degree in electrical engineering, but she has not yet started working. To be counted as "unemployed" she

Table 28-8 Below is data about the labor market in the state of Northwoods. -Refer to Table 28-8. If the state government imposed a minimum wage of $9, how many people would be unemployed?

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.