Question 1

Jai Li just lost her job, and she has not yet started looking for a new one. The Bureau of Labor Statistics counts Jai Li as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed but not in the labor force.
C)   in the labor force but not unemployed.
D)   neither in the labor force nor unemployed.E) A) and B)
F) None of the above

Question 2

Sheila is on a temporary layoff from her automobile factory job but has not looked for work in the last four weeks. The Bureau of Labor Statistics counts Sheila as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed and not in the labor force.
C)   employed and in the labor force.
D)   employed and not in the labor force.E) B) and C)
F) None of the above

Question 3

Most people rely primarily on income other than their labor earnings to maintain their standard of living.

Accepted Answer

A) True 
 B)False

Question 4

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 5

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is higher and the quantity demanded of labor is lower than at the equilibrium wage.

Accepted Answer

A) True 
 B)False

Question 6

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 7

In June 2009 the Bureau of Labor Statistics reported a U.S. foreign-born population of 35.3 million. Of these, 22.7 million were employed and 1.4 million were unemployed. Based on these numbers what were the unemployment rate and the labor-force participation rate of the foreign-born U.S. population?

Accepted Answer

A)   1.4/35.3 and 22.7/35.3
B)   1.4/35.3 and 24.1/35.3
C)   1.4/24.1 and 22.7/24.1
D)   None of the above is correct.E) A) and B)
F) A) and C)

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment.

Accepted Answer

A) True 
 B)False

Question 10

Figure 28-4 
-Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   4,000
D)   6,000E) A) and B)
F) A) and C)

Question 11

In the long run the unemployment rate equals

Accepted Answer

A)   zero.
B)   the cyclical rate of unemployment.
C)   the natural rate of unemployment.
D)   the sum of the cyclical and natural rate of unemployment.E) None of the above
F) A) and C)

Question 12

Of the following groups, who is eligible for unemployment insurance benefits?

Accepted Answer

A)   the unemployed who quit their jobs
B)   the unemployed who were laid off because their previous employers no longer needed their skills
C)   the unemployed who were fired for cause
D)   the unemployed who just entered the labor forceE) A) and D)
F) A) and C)

Question 13

Table 28-11
2010 Labor Data for Tajnia
 
-Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 18.4 percent.

Accepted Answer

A) True 
 B)False

Question 14

The unemployment rate is computed as the number of unemployed

Accepted Answer

A)   divided by the labor force, all times 100.
B)   divided by the number of employed, all times 100.
C)   divided by the adult population, all times 100.
D)   times the labor-force participation rate, all times 100.E) A) and B)
F) C) and D)

Question 15

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) All of the above
F) B) and C)

Question 16

Someone who has a job but is absent from work because she is on vacation is counted as "employed."

Accepted Answer

A) True 
 B)False

Question 17

Job search

Accepted Answer

A)   and firms paying wages above equilibrium to improve worker health both create frictional unemployment.
B)   creates frictional unemployment, while firms paying wages above equilibrium to improve worker health creates structural unemployment.
C)   creates structural unemployment, while firms paying wages above equilibrium to improve worker health creates frictional unemployment.
D)   and firms paying wages above equilibrium to improve worker health both create structural unemployment.E) A) and D)
F) A) and C)

Question 18

Ariana is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then

Accepted Answer

A)   the profits of her firm might increase.
B)   she will face a shortage of labor.
C)   the turnover of her workers may increase.
D)   None of the above is correct.E) A) and B)
F) None of the above

Question 19

Some degree of unemployment is inevitable in a complex economy.

Accepted Answer

A) True 
 B)False

Question 20

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 remained steady.

Accepted Answer

A) True 
 B)False

Exam 15: Unemployment

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 Answer
verified
People who are experienced and educated ...
View Answer

Some degree of unemployment is inevitable in a complex economy.

Correct Answer
verified

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 remained steady.

Correct Answer
verified

Someone who has a job but is absent from work because she is on vacation is counted as "employed."

Correct Answer
verified

It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment.

Correct Answer
verified

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

Correct Answer
verified

Of the following groups, who is eligible for unemployment insurance benefits?

Correct Answer
verified

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

Correct Answer
verified

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed?

Correct Answer
verified

Most people rely primarily on income other than their labor earnings to maintain their standard of living.

Correct Answer
verified

Sheila is on a temporary layoff from her automobile factory job but has not looked for work in the last four weeks. The Bureau of Labor Statistics counts Sheila as

Correct Answer
verified

Jai Li just lost her job, and she has not yet started looking for a new one. The Bureau of Labor Statistics counts Jai Li as

Correct Answer
verified

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Correct Answer
verified

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is higher and the quantity demanded of labor is lower than at the equilibrium wage.

Correct Answer
verified

In the long run the unemployment rate equals

Correct Answer
verified

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 18.4 percent.

Correct Answer
verified

The unemployment rate is computed as the number of unemployed

Correct Answer
verified

Job search

Correct Answer
verified

Ariana is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then

Correct Answer
verified

Correct Answer
verified

Exam 15: Unemployment

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

Some degree of unemployment is inevitable in a complex economy.

Correct AnswerverifiedShow Answer

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 remained steady.

Correct AnswerverifiedShow Answer

Someone who has a job but is absent from work because she is on vacation is counted as "employed."

Correct AnswerverifiedShow Answer

It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Of the following groups, who is eligible for unemployment insurance benefits?

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

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed?

Correct AnswerverifiedShow Answer

Most people rely primarily on income other than their labor earnings to maintain their standard of living.

Correct AnswerverifiedShow Answer

Sheila is on a temporary layoff from her automobile factory job but has not looked for work in the last four weeks. The Bureau of Labor Statistics counts Sheila as

Correct AnswerverifiedShow Answer

Jai Li just lost her job, and she has not yet started looking for a new one. The Bureau of Labor Statistics counts Jai Li as

Correct AnswerverifiedShow Answer

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Correct AnswerverifiedShow Answer

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is higher and the quantity demanded of labor is lower than at the equilibrium wage.

Correct AnswerverifiedShow Answer

In the long run the unemployment rate equals

Correct AnswerverifiedShow Answer

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 18.4 percent.

Correct AnswerverifiedShow Answer

The unemployment rate is computed as the number of unemployed

Correct AnswerverifiedShow Answer

Job search

Correct AnswerverifiedShow Answer

Ariana is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified
People who are experienced and educated ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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