Question 1

Minimum-wage laws, unions, and efficiency wages contribute to

Accepted Answer

A)   both structural unemployment and the natural rate of unemployment.
B)   neither structural unemployment nor the natural rate of unemployment.
C)   structural unemployment, but not the natural rate of unemployment.
D)   the natural rate of unemployment, but not structural unemployment.E) A) and D)
F) B) and D)

Question 2

Angelica is an unpaid homemaker who works as a volunteer at the local Red Cross and is currently not looking for a paid job. The Bureau of Labor Statistics counts Angelica 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) C) and D)

Question 3

The natural rate of unemployment is constant over time.

Accepted Answer

A) True 
 B)False

Question 4

Unemployment that results because the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one is called

Accepted Answer

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

Question 5

Efficiency-wage theory suggests that paying

Accepted Answer

A)   low wages might be profitable because they raise the efficiency of a firm's workers.
B)   low wages might be profitable because they lower the efficiency of a firm's workers.
C)   high wages might be profitable because they raise the efficiency of a firm's workers.
D)   high wages might be profitable because they lower the efficiency of a firm's workers.E) None of the above
F) A) and D)

Question 6

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a surplus of labor.

Accepted Answer

A) True 
 B)False

Question 7

Satchel loses his job and immediately begins looking for another. Other things the same, the unemployment rate

Accepted Answer

A)   increases and the labor-force participation rate decreases.
B)   and the labor-force participation rate both increase.
C)   increases and the labor-force participation rate is unaffected.
D)   is unaffected and the labor-force participation rate decreases.E) A) and C)
F) C) and D)

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Following the recession of 2001, there was a month in which employment and the unemployment rate both rose. Assuming the computations were correct, how is it possible for both to have increased?

Accepted Answer

The rate of unemployment is measured as ...

Question 10

The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 11

Table 10-3
2010 Labor Data for Adults (age 16 and older)  in Meditor
 
-Refer to Table 10-3. What is the adult labor-force participation rate in Meditor?

Accepted Answer

A)   37.5 percent
B)   62.5 percent
C)   66.7 percent
D)   95.8 percentE) A) and D)
F) C) and D)

Question 12

Figure 10-1
 
-Refer to Figure 10-1. If the government imposes a minimum wage of $4, then employment will decrease by

Accepted Answer

A)   0 workers.
B)   2000 workers.
C)   3000 workers.
D)   4000 workers.E) B) and D)
F) A) and B)

Question 13

Most economists believe unions are bad for the economy as a whole.

Accepted Answer

A) True 
 B)False

Question 14

Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

Accepted Answer

A) True 
 B)False

Question 15

The Bureau of Labor Statistics produces data on

Accepted Answer

A)   unemployment.
B)   types of employment.
C)   length of the average workweek.
D)   All of the above are correct.E) A) and B)
F) A) and C)

Question 16

Within the U.S., teenagers have higher rates of unemployment than older workers.

Accepted Answer

A) True 
 B)False

Question 17

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Accepted Answer

A) True 
 B)False

Question 18

The Bureau of Labor Statistics' "employed" category includes those who worked as paid employees, worked in their own business, or worked as unpaid workers in a family member's business.

Accepted Answer

A) True 
 B)False

Question 19

The Bureau of Labor Statistics' U-1 measure of joblessness is larger than its U-6 measure of joblessness.

Accepted Answer

A) True 
 B)False

Question 20

Table 10-2
2009 Labor Data for Baltivia
 
-Refer to Table 10-2. What was Baltivia's labor-force participation rate in 2009?

Accepted Answer

A)   55 percent
B)   63 percent
C)   66.9 percent
D)   87.3 percentE) None of the above
F) A) and B)

Exam 10: Unemployment

Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

Correct AnswerverifiedShow Answer

Table 10-2 2009 Labor Data for Baltivia -Refer to Table 10-2. What was Baltivia's labor-force participation rate in 2009?

Correct AnswerverifiedShow Answer

Following the recession of 2001, there was a month in which employment and the unemployment rate both rose. Assuming the computations were correct, how is it possible for both to have increased?

Correct AnswerverifiedThe rate of unemployment is measured as ...View AnswerShow Answer

Efficiency-wage theory suggests that paying

Correct AnswerverifiedShow Answer

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a surplus of labor.

Correct AnswerverifiedShow Answer

Minimum-wage laws, unions, and efficiency wages contribute to

Correct AnswerverifiedShow Answer

Unemployment that results because the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one is called

Correct AnswerverifiedShow Answer

The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment.

Correct AnswerverifiedShow Answer

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' U-1 measure of joblessness is larger than its U-6 measure of joblessness.

Correct AnswerverifiedShow Answer

Angelica is an unpaid homemaker who works as a volunteer at the local Red Cross and is currently not looking for a paid job. The Bureau of Labor Statistics counts Angelica as

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' "employed" category includes those who worked as paid employees, worked in their own business, or worked as unpaid workers in a family member's business.

Correct AnswerverifiedShow Answer

The natural rate of unemployment is constant over time.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on

Correct AnswerverifiedShow Answer

Most economists believe unions are bad for the economy as a whole.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Within the U.S., teenagers have higher rates of unemployment than older workers.

Correct AnswerverifiedShow Answer

Figure 10-1 -Refer to Figure 10-1. If the government imposes a minimum wage of $4, then employment will decrease by

Correct AnswerverifiedShow Answer

Satchel loses his job and immediately begins looking for another. Other things the same, the unemployment rate

Correct AnswerverifiedShow Answer

Table 10-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 10-3. What is the adult labor-force participation rate in Meditor?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The rate of unemployment is measured as ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified