Question 1

Sectoral shifts contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 2

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Who is not included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   Anita, who is on temporary layoff
B)   Lauren, who has retired and is not looking for work
C)   Raymond, who does not have a job but has applied for several in the last week
D)   None of the above is correct.E) All of the above
F) A) and D)

Question 5

When a minimum-wage law forces the wage to remain above the equilibrium level, it

Accepted Answer

A)   raises both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level.
B)   raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
C)   reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level.
D)   reduces both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level.E) A) and D)
F) A) and C)

Question 6

The labor-force participation rate measures the percentage of the

Accepted Answer

A)   total adult population that is in the labor force.
B)   total adult population that is employed.
C)   labor force that is employed.
D)   labor force that is either employed or unemployed.E) All of the above
F) A) and B)

Question 7

Frictional unemployment is

Accepted Answer

A)   not inevitable; rather, it can be reduced to zero by well-designed public policies.
B)   not inevitable; rather, it could be reduced to zero if by the elimination of unemployment insurance.
C)   inevitable, because at any given time, jobs are being created in some firms and destroyed in other firms.
D)   inevitable, because in some industries, wages are always set above the level that brings supply and demand into equilibrium.E) None of the above
F) A) and B)

Question 8

Efficiency wages create a labor

Accepted Answer

A)   surplus and so increase unemployment.
B)   surplus and so decrease unemployment.
C)   shortage and so increase unemployment.
D)   shortage and so decrease unemployment.E) B) and C)
F) C) and D)

Question 9

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

Question 10

The Bureau of Labor Statistics' U­3 measure of joblessness is the official unemployment rate.

Accepted Answer

A) True 
 B)False

Question 11

The introduction of a union into a firm benefits all of that firm's workers.

Accepted Answer

A) True 
 B)False

Question 12

In the U.S., it is illegal for employers to interfere when workers try to organize unions.

Accepted Answer

A) True 
 B)False

Question 13

When a union raises the wage above the equilibrium level,

Accepted Answer

A)   both the quantity of labor supplied and unemployment rise.
B)   both the quantity of labor supplied and unemployment fall.
C)   the quantity of labor supplied rises and unemployment falls.
D)   the quantity of labor supplied falls and unemployment rises.E) B) and C)
F) A) and D)

Question 14

Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power.

Accepted Answer

A) True 
 B)False

Question 15

Unions contribute to

Accepted Answer

A)   frictional but not structural unemployment.
B)   structural but not frictional unemployment.
C)   both frictional and structural unemployment.
D)   neither frictional nor structural unemployment.E) A) and B)
F) A) and C)

Question 16

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Accepted Answer

A)   Black males had higher labor-force participation rates and lower unemployment rates compared to white males.
B)   Black males had both higher labor-force participation rates and higher unemployment rates compared to white males.
C)   Black males had both lower labor-force participation rates and lower unemployment rates compared to white males.
D)   Black males had lower labor-force participation rates and higher unemployment rates compared to white males.E) A) and B)
F) A) and C)

Question 17

The natural rate of unemployment is constant over time.

Accepted Answer

A) True 
 B)False

Question 18

Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh 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) B) and C)
F) All of the above

Exam 28: Unemployment

When a minimum-wage law forces the wage to remain above the equilibrium level, it

Correct Answer
verified

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Correct Answer
verified

Unions contribute to

Correct Answer
verified

The introduction of a union into a firm benefits all of that firm's workers.

Correct Answer
verified

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

Correct Answer
verified

When a union raises the wage above the equilibrium level,

Correct Answer
verified

The Bureau of Labor Statistics' U3 measure of joblessness is the official unemployment rate.

Correct Answer
verified

Efficiency wages create a labor

Correct Answer
verified

Frictional unemployment is

Correct Answer
verified

The labor-force participation rate measures the percentage of the

Correct Answer
verified

In the U.S., it is illegal for employers to interfere when workers try to organize unions.

Correct Answer
verified

The natural rate of unemployment is constant over time.

Correct Answer
verified

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 Answer
verified

Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as

Correct Answer
verified

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Correct Answer
verified

Sectoral shifts contribute to frictional unemployment.

Correct Answer
verified

Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power.

Correct Answer
verified

Who is not included in the labor force by the Bureau of Labor Statistics?

Correct Answer
verified

Exam 28: Unemployment

When a minimum-wage law forces the wage to remain above the equilibrium level, it

Correct AnswerverifiedShow Answer

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Correct AnswerverifiedShow Answer

Unions contribute to

Correct AnswerverifiedShow Answer

The introduction of a union into a firm benefits all of that firm's workers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When a union raises the wage above the equilibrium level,

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' U­3 measure of joblessness is the official unemployment rate.

Correct AnswerverifiedShow Answer

Efficiency wages create a labor

Correct AnswerverifiedShow Answer

Frictional unemployment is

Correct AnswerverifiedShow Answer

The labor-force participation rate measures the percentage of the

Correct AnswerverifiedShow Answer

In the U.S., it is illegal for employers to interfere when workers try to organize unions.

Correct AnswerverifiedShow Answer

The natural rate of unemployment is constant over time.

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

Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Correct AnswerverifiedShow Answer

Sectoral shifts contribute to frictional unemployment.

Correct AnswerverifiedShow Answer

Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power.

Correct AnswerverifiedShow Answer

Who is not included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

The Bureau of Labor Statistics' U3 measure of joblessness is the official unemployment rate.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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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Correct Answer
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Correct Answer
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