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Exam 28: Unemployment

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Question 81

True/False

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Over the past several decades in the United States,the labor-force participation rate of women has increased and the labor-force participation rate of men had decreased.

A) True
B) False

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Question 82

Multiple Choice

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Recent entrants into the labor force account for about

A) 1/5 of those who are unemployed.
B) 1/4 of those who are unemployed.
C) 1/3 of those who are unemployed.
D) 1/2 of those who are unemployed.

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

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Question 83

Multiple Choice

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People who are unemployed because wages are,for some reason,set above the level that brings labor supply and demand into equilibrium are best classified as

Within the U.S.population,teenagers have lower rates of labor-force participation than older workers.

The Bureau of Labor Statistics' U-5 measure of joblessness is the official unemployment rate.

Minimum-wage laws are one reason there is always some unemployment in the U.S.economy.

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

People who report being not in the labor force but who,in fact,want to work but have given up trying to find a job after an unsuccessful search are really unemployed and therefore cause the reported unemployment rate to be lower than it would otherwise be.

Within the U.S.population,blacks have higher rates of unemployment than whites.

Most economists agree that eliminating unemployment insurance would increase the amount of unemployment in the economy.

The adult population must equal the sum of the employed,the unemployed,and those not in the labor force.

Measuring the amount of unemployment in the economy is a straightforward task.

Which of the following is not correct?

Public policy can reduce the economy's natural rate of unemployment.

Which of the following is correct?

The Bureau of Labor Statistics computes unemployment rates for the entire adult population and for more narrowly defined groups.

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

According to 2007 data on the U.S.population,which of the following groups of teenagers (ages 16-19) has the highest labor-force participation rate?

There are always some workers without jobs,even when the overall economy is doing well.

When job search is the explanation for unemployment,workers are searching for the jobs that best suit their tastes and skills,but when the wage is above the equilibrium level,the quantity of labor supplied exceeds the quantity of labor demanded,and workers are unemployed because they are waiting for jobs to open up.