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Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called


A) the natural rate of unemployment.
B) cyclical unemployment.
C) structural unemployment.
D) frictional unemployment.

E) B) and D)
F) B) and C)

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Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult labor-force participation rate in Meditor? A) 37.5% B) 62.5% C) 66.7% D) 95.8% -Refer to Table 28-4. What is the adult labor-force participation rate in Meditor?


A) 37.5%
B) 62.5%
C) 66.7%
D) 95.8%

E) B) and D)
F) C) and D)

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

A) True
B) False

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Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult female labor-force participation rate in Meditor? A) 38.1% B) 61.9% C) 66.7% D) 95.2% -Refer to Table 28-4. What is the adult female labor-force participation rate in Meditor?


A) 38.1%
B) 61.9%
C) 66.7%
D) 95.2%

E) None of the above
F) All of the above

Correct Answer

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The natural rate of unemployment


A) arises from a single problem that has a single solution.
B) is easy for policymakers to reduce.
C) Both a and b are correct.
D) None of the above is correct.

E) A) and B)
F) A) and C)

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List a few of the characteristics of workers who typically earn at or below the minimum wage.

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teenagers, the least skilled m...

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The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey.

A) True
B) False

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There is a clear consensus among economists that unions are


A) good for the economy because they result in higher wages for most workers.
B) good for the economy because they are a necessary antidote to the market power of employers.
C) bad for the economy because they are cartels and therefore detrimental to an efficient allocation of resources.
D) None of the above is correct; there is no clear consensus among economists about whether unions are good or bad for the economy.

E) All of the above
F) A) and D)

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D

The efficiency-wage theory of worker health is


A) more relevant for explaining unemployment in less developed countries than in rich countries.
B) more relevant for explaining unemployment in rich countries than in less developed countries.
C) equally relevant for explaining unemployment in less developed countries and in rich countries.
D) not relevant for explaining unemployment.

E) None of the above
F) All of the above

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Figure 28-7 Figure 28-7 -Refer to Figure 28-7. If the minimum wage is equal to $125, what is the quantity of labor supplied, the quantity of labor demanded, and number unemployed? -Refer to Figure 28-7. If the minimum wage is equal to $125, what is the quantity of labor supplied, the quantity of labor demanded, and number unemployed?

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Labor supplied is 35...

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Suppose that the Bureau of Labor Statistics predicts that the number of jobs for dental hygienists will grow faster than most occupations while the number of jobs for bookbinders will decline. This change in the labor market could lead to


A) frictional unemployment created by efficiency wages.
B) structural unemployment created by efficiency wages.
C) frictional unemployment created by sectoral shifts.
D) structural unemployment created by sectoral shifts.

E) A) and B)
F) None of the above

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

A) True
B) False

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Consider two people who are currently out of work. Tim is not looking for work because there have been many job cuts where he lives, and he doesn't think it likely that he will find work. Bev is not currently looking for work, but she would like a job, and she has looked for work in the past. The Bureau of Labor Statistics considers


A) both Tim and Bev to be marginally attached workers.
B) neither Tim nor Bev to be marginally attached workers.
C) only Tim to be a marginally attached worker.
D) only Bev to be a marginally attached worker.

E) A) and B)
F) A) and C)

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The theory of efficiency wages provides a possible explanation as to why


A) workers form unions.
B) firms should try to reduce surpluses of labor.
C) firms may be inclined to keep their workers' wages above the equilibrium level.
D) firms may be inclined to keep their workers' wages below the equilibrium level.

E) A) and B)
F) All of the above

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Within the U.S. population, blacks of prime working age ages 25-54) have higher rates of unemployment than whites of prime working age ages 25-54), regardless of gender.

A) True
B) False

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From time to time, the demand for workers has risen in one region of the United States and fallen in another. This illustrates


A) frictional unemployment created by efficiency wages.
B) structural unemployment created by efficiency wages.
C) frictional unemployment created by sectoral shifts.
D) structural unemployment created by sectoral shifts.

E) None of the above
F) All of the above

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Why might a favorable change in the economy, such as technological improvement or a decrease in the price of imported oil, be associated with an increase in frictional unemployment?

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Even generally favorable changes will us...

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Table 28-1 Sample Population Table 28-1 Sample Population -Refer to Table 28-1. How many in the sample are in the labor force? A) 11 B) 10 C) 9 D) 8 -Refer to Table 28-1. How many in the sample are in the labor force?


A) 11
B) 10
C) 9
D) 8

E) None of the above
F) C) and D)

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B

Even though the difference in labor-force participation rates of U.S. males and females has narrowed, the labor- force participation rate of males remains higher than that of females.

A) True
B) False

Correct Answer

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The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

A) True
B) False

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True

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