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Exam 20: Unemployment

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Question 61

True/False

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The labor force minus the number of employed equals the number of unemployed.

A) True
B) False

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Question 62

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More generous unemployment insurance would

A) raise structural unemployment.
B) raise frictional unemployment.
C) lower structural unemployment.
D) lower frictional unemployment.

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

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Question 63

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Suppose the demand for construction workers increased and the demands for textile and steel workers diminished.This is an example of

Frictional unemployment is inevitable because the economy is always changing.

When a union bargains successfully with employers,in that industry,

An economy's natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force,such as teenagers.

Table 20-5 2010 Labor Data for Tajnia -Refer to Table 20-5.The labor-force participation rate of Tajnia in 2010 is about 40.8 percent.

According to 2009 data on the U.S.population,which of the following groups of adults (ages 20 and older) had the lowest unemployment rate?

Figure 20-1 -Refer to Figure 20-1.If the government imposes a minimum wage of $4,then how many workers will be unemployed?

The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate.

Table 20-1 Labor Data for Aridia -Refer to Table 20-1.The unemployment rate of Aridia in 2011 was

Efficiency wages

The Bureau of Labor Statistics' U-5 measure of joblessness includes marginally attached workers.

Rupert is collecting unemployment insurance benefits.To continue to receive his benefits,he must be looking for work.Because he'd like to continue collecting benefits rather than take a job,he applies at places that are unlikely to hire him.People like Rupert make the reported unemployment rate less than it would otherwise be.

Government-run employment agencies and public training programs both seek to reduce frictional unemployment.

In the 1940s and 1950s,about one-third of U.S.workers belonged to unions,but today,only about one-fifth of U.S.workers belong to unions.

Right-to-work laws allow striking union members to be permanently replaced.

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?

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