Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Table 28-3
2003 Labor Data for Adults (age 16 and older) in Meditor
 
-Refer to Table 28-3.What is the adult male labor-force participation rate in Meditor?

Accepted Answer

A)   37 percent
B)   63 percent
C)   66.7 percent
D)   96.3 percentE) A) and B)
F) A) and C)

Question 3

Workers waiting for jobs to open up is most closely associated with

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   seasonal unemployment.
D)   structural unemployment.E) A) and B)
F) A) and C)

Question 4

People who report being unemployed but who,in fact,are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be.

Accepted Answer

A) True 
 B)False

Question 5

Teenage unemployment is higher than unemployment of people ages 20 and over.Explain why economists would attribute at least part of this difference to minimum-wage laws.

Accepted Answer

People who are experienced and educated ...

Question 6

Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.

Accepted Answer

A) True 
 B)False

Question 7

Table 28-5
2010 Labor Data for Wrexington
 
-Refer to Table 28-5.The unemployment rate of Wrexington in 2010 is about 7.5 percent.

Accepted Answer

A) True 
 B)False

Question 8

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)   unattached workers,and they are classified by the Bureau of Labor Statistics as unemployed.
B)   unattached 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) C) and D)
F) A) and B)

Question 9

Suppose that because of the popularity of the low-carb diet,bakeries need fewer workers and steak houses need more workers.This is an example of

Accepted Answer

A)   frictional unemployment created by efficiency wages.
B)   frictional unemployment created by sectoral shifts.
C)   structural unemployment created by efficiency wages.
D)   structural unemployment created by sectoral shifts.E) None of the above
F) A) and B)

Question 10

Most spells of unemployment are short,and most unemployment observed at any given time is long term.How can this be?

Accepted Answer

Most unemployed people in the economy ar...

Question 11

Table 28-2
2009 Labor Data for Wrexington
 
-Refer to Table 28-2.What was Wrexington's unemployment rate in 2009?

Accepted Answer

A)   8.0 percent
B)   12.7 percent
C)   15.9 percent
D)   22.1 percentE) B) and C)
F) C) and D)

Question 12

Today,unions play a larger role in Europe than they do in the U.S.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not correct?

Accepted Answer

A)   It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment.
B)   The equilibrium wages of the least skilled and least experienced members of the labor force tend to be low,and,therefore,are more likely to fall below the legal minimum wage.
C)   If the wage is kept below the equilibrium level for any reason,the result is unemployment.
D)   Minimum-wage laws,unions,and efficiency wages are all reasons wages may be kept above the equilibrium level.E) C) and D)
F) B) and D)

Question 14

The natural rate of unemployment

Accepted Answer

A)   arises from a single problem that has a single solution.
B)   is easy for policymakers to reduce.
C)   Both (a) and (b) are correct.
D)   None of the above is correct.E) None of the above
F) B) and D)

Question 15

When a union raises the wage above the equilibrium level,it

Accepted Answer

A)   reduces both the quantity of labor supplied and the quantity of labor demanded,resulting in unemployment.
B)   reduces the quantity of labor supplied and raises the quantity of labor demanded,resulting in unemployment.
C)   raises the quantity of labor supplied and reduces the quantity of labor demanded,resulting in unemployment.
D)   raises both the quantity of labor supplied and the quantity of labor demanded,resulting in unemployment.E) B) and C)
F) All of the above

Question 16

Unemployment insurance

Accepted Answer

A)   may improve the ability of the economy to match workers with appropriate jobs.
B)   reduces the job search efforts of the unemployed.
C)   increases the amount of frictional unemployment in the economy.
D)   All of the above are correct.E) None of the above
F) A) and B)

Question 17

The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed.

Accepted Answer

A) True 
 B)False

Question 18

The labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market.

Accepted Answer

A) True 
 B)False

Question 19

Most U.S.workers have wages well above the legal minimum,so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

Accepted Answer

A) True 
 B)False

Question 20

Within the U.S.population,women ages 20 and older have lower rates of labor-force participation than men.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

Unemployment insurance

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed.

Correct AnswerverifiedShow Answer

Suppose that because of the popularity of the low-carb diet,bakeries need fewer workers and steak houses need more workers.This is an example of

Correct AnswerverifiedShow Answer

Table 28-5 2010 Labor Data for Wrexington -Refer to Table 28-5.The unemployment rate of Wrexington in 2010 is about 7.5 percent.

Correct AnswerverifiedShow Answer

Most U.S.workers have wages well above the legal minimum,so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

Correct AnswerverifiedShow Answer

Table 28-3 2003 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 28-3.What is the adult male labor-force participation rate in Meditor?

Correct AnswerverifiedShow Answer

Today,unions play a larger role in Europe than they do in the U.S.

Correct AnswerverifiedShow Answer

Most spells of unemployment are short,and most unemployment observed at any given time is long term.How can this be?

Correct AnswerverifiedMost unemployed people in the economy ar...View AnswerShow Answer

Within the U.S.population,women ages 20 and older have lower rates of labor-force participation than men.

Correct AnswerverifiedShow Answer

The natural rate of unemployment

Correct AnswerverifiedShow Answer

Workers waiting for jobs to open up is most closely associated with

Correct AnswerverifiedShow Answer

When a union raises the wage above the equilibrium level,it

Correct AnswerverifiedShow Answer

Which of the following is not correct?

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Teenage unemployment is higher than unemployment of people ages 20 and over.Explain why economists would attribute at least part of this difference to minimum-wage laws.

Correct AnswerverifiedPeople who are experienced and educated ...View AnswerShow Answer

People who report being unemployed but who,in fact,are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be.

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

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

Correct AnswerverifiedShow Answer

Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.

Correct AnswerverifiedShow Answer

The labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market.

Correct AnswerverifiedShow Answer

Table 28-2 2009 Labor Data for Wrexington -Refer to Table 28-2.What was Wrexington's unemployment rate in 2009?

Correct AnswerverifiedShow Answer

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Most unemployed people in the economy ar...
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People who are experienced and educated ...
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