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Exam 15: Unemployment

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Question 21

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A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job

A) is counted as out of the labor force but should be counted as unemployed.
B) is counted as unemployed but should be counted as out of the labor force.
C) is correctly counted as out of the labor force.
D) is correctly counted as unemployed.

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

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Question 22

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Four employers have justified their actions as follows. Whose logic is not consistent with the logic of efficiency wage theory?

A) Jay develops a new assembly line technology that limits the amount of shirking workers can do, so he reduces what he pays his employees so as to make it closer to the equilibrium wage.
B) Kay pays her workers less than the equilibrium wage so they won't have the time or money to look for work somewhere else.
C) Ray pays his workers in a developing country more than the going wage hoping that they will get a better diet and so be more productive.
D) None of the above is consistent with the logic of efficiency wage theory.

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

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Question 23

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When a minimum-wage law forces the wage to remain above the level that balances supply and demand, there are more workers willing to work than there are jobs, so some workers are unemployed.

Suppose some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

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

In the U.S., it is illegal for employers to interfere when workers try to organize unions.

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

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

Suppose some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Table 15-3 2010 Labor Data for Adults (age 16 and older) in Meditor $\begin{array} { | l | l | } \hline \text { Males not in labar farce } & 45 \text { million } \\\hline \text { Femeles nat in labor force } & 35 \text { million } \\\hline \text { Males unemplayed } & 5 \text { millian } \\\hline \text { Fenales unemployed } & 5 \text { millian } \\\hline \text { Males employed } & 85 \text { million } \\\hline \text { Fenales enployed } & 65 \text { milling } \\\hline\end{array}$ -Refer to Table 15-3. What is the adult female labor-force participation rate in Meditor?

A firm might offer efficiency wages in order to reduce shirking.

Measuring unemployment is the job of the Bureau of Labor Statistics.

Frictional unemployment is often thought to explain relatively long spells of unemployment.

Efficiency wages, minimum-wage laws, and unions all

Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level?

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey.

Which of the following is correct?

Figure 15-1 -Refer to Figure 15-1. If the government imposes a minimum wage of $4, then employment will decrease by

The Bureau of Labor Statistics reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalent, 36.40 million of whom were employed and 1.93 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

The theory of efficiency wages explains why