Question 1

Minimum-wage laws can keep wages

Accepted Answer

A)   above equilibrium and cause a surplus of labor.
B)   above equilibrium and cause a shortage of labor.
C)   below equilibrium and cause a surplus of labor.
D)   below equilibrium and cause a shortage of labor.E) A) and B)
F) A) and C)

Question 2

If the wage is kept above the equilibrium wage for any reason, the result is

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   seasonal unemployment.
D)   structural unemployment.E) All of the above
F) B) and D)

Question 3

Most spells of unemployment are long, and most unemployment observed at any given time is long-term.

Accepted Answer

A) True 
 B)False

Question 4

Unpaid stay­at­home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 5

If an unemployed person quits looking for work, then, eventually the unemployment rate

Accepted Answer

A)   decreases, and the labor-force participation rate is unaffected.
B)   and the labor-force participation rate both decrease.
C)   is unaffected, and the labor-force participation rate decreases.
D)   and the labor-force participation rate are both unaffected.E) None of the above
F) A) and D)

Question 6

Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret.

Accepted Answer

A) True 
 B)False

Question 7

Unemployment data is collected

Accepted Answer

A)   through a monthly survey of about 20,000 firms.
B)   through a monthly survey of about 60,000 households.
C)   from unemployment insurance claims.
D)   All of the above are correct.E) All of the above
F) B) and D)

Question 8

Who would be included in the labor force?

Accepted Answer

A)   Louie, who is waiting for his new job to start
B)   Daisey, who has become discouraged looking for a job and has quit looking
C)   Donald, an unpaid stay-at-home father
D)   None of the above is correct.E) All of the above
F) A) and B)

Question 9

Unions are often thought to cause conflict between different groups of workers -- between the insiders who benefit from high union wages and the outsiders who do not get the union jobs.

Accepted Answer

A) True 
 B)False

Question 10

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Accepted Answer

A)   29%.
B)   18%.
C)   24%.
D)   6%.E) C) and D)
F) B) and D)

Question 11

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Accepted Answer

A) True 
 B)False

Question 12

Access to which of the following explains the lower growth rate for the American economy in the 21st century compared to the previous 250 years?

Accepted Answer

A)   food stamps
B)   Social Security disability payments
C)   Pell grants
D)   All of the above are correct.E) A) and B)
F) A) and C)

Question 13

Marginally attached workers are people who are

Accepted Answer

A)   looking for a better job than they currently have.
B)   not working and are not looking for work, but would work if asked.
C)   working part-time while they go to school or get training for a better job.
D)   only a few years from retirement.E) A) and B)
F) B) and D)

Question 14

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

Accepted Answer

A)   Miguel, who is on temporary layoff
B)   Reta, who worked only 15 hours last week
C)   Marisa, who neither has a job nor is looking for one
D)   None of the above is correct.E) All of the above
F) None of the above

Question 15

According to 2012 data on the U.S. population, which of the following groups of teenagers ages (16-19)  had the highest unemployment rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) A) and C)
F) A) and B)

Question 16

A minimum wage that is below the equilibrium wage rate does not raise unemployment.

Accepted Answer

A) True 
 B)False

Question 17

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The unemployment rate of Aridia in 2011 was

Accepted Answer

A)   20%.
B)   31.6%.
C)   46.2%.
D)   63.3%.E) None of the above
F) A) and C)

Question 18

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then job search would not be a problem.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is correct?

Accepted Answer

A)   The Bureau of Labor Statistics uses data collected from those applying for unemployment insurance to compute the unemployment rate.
B)   The labor force includes all adults who are able to work.
C)   Unpaid homemakers are counted as "employed" by the Bureau of Labor Statistics.
D)   People working part time are counted as "employed" by the Bureau of Labor Statistics.E) A) and B)
F) All of the above

Question 20

Every month, the Bureau of Labor Statistics surveys 160,000 business establishments to help determine the number of jobs the economy has gained or lost.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

Which of the following is correct?

Correct AnswerverifiedShow Answer

A minimum wage that is below the equilibrium wage rate does not raise unemployment.

Correct AnswerverifiedShow Answer

Access to which of the following explains the lower growth rate for the American economy in the 21st century compared to the previous 250 years?

Correct AnswerverifiedShow Answer

Most spells of unemployment are long, and most unemployment observed at any given time is long-term.

Correct AnswerverifiedShow Answer

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then job search would not be a problem.

Correct AnswerverifiedShow Answer

Every month, the Bureau of Labor Statistics surveys 160,000 business establishments to help determine the number of jobs the economy has gained or lost.

Correct AnswerverifiedShow Answer

Unions are often thought to cause conflict between different groups of workers -- between the insiders who benefit from high union wages and the outsiders who do not get the union jobs.

Correct AnswerverifiedShow Answer

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia in 2011 was

Correct AnswerverifiedShow Answer

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Correct AnswerverifiedShow Answer

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Correct AnswerverifiedShow Answer

If the wage is kept above the equilibrium wage for any reason, the result is

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following groups of teenagers ages (16-19) had the highest unemployment rate?

Correct AnswerverifiedShow Answer

Minimum-wage laws can keep wages

Correct AnswerverifiedShow Answer

Unpaid stay­at­home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

If an unemployed person quits looking for work, then, eventually the unemployment rate

Correct AnswerverifiedShow Answer

Unemployment data is collected

Correct AnswerverifiedShow Answer

Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret.

Correct AnswerverifiedShow Answer

Who would be included in the labor force?

Correct AnswerverifiedShow Answer

Marginally attached workers are people who are

Correct AnswerverifiedShow Answer

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Unpaid stayathome fathers are included in the Bureau of Labor Statistics' "unemployed" category.

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