Question 1

The BLS classifies people who would like to work but have given up looking for a job as

Accepted Answer

A)   unemployed.If they were classified as out of the labor force,the reported unemployment rate would be larger.
B)   unemployed.If they were classified as out of the labor force,the reported unemployment rate would be smaller.
C)   out of the labor force.If they were classified as unemployed,the reported unemployment rate would be larger.
D)   out of the labor force.If they were classified as unemployed,the reported unemployment rate would be smaller.E) All of the above
F) A) and C)

Question 2

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Accepted Answer

A) True 
 B)False

Question 3

Who of the following is counted as unemployed by the BLS?

Accepted Answer

A)   someone working without pay for a family member's business
B)   someone who is absent from their job due to illness
C)   someone on temporary layoff
D)   All of the above are correct.E) A) and D)
F) None of the above

Question 4

Which of the following is correct?

Accepted Answer

A)   In unionized industries wages are above the level that would prevail in competitive markets.
B)   The introduction of a union in some industry reduces the quantity of labor demanded in that industry,causes some workers in that industry to be unemployed,and reduces wages in the rest of the economy.
C)   Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
D)   All of the above are correct.E) C) and D)
F) None of the above

Question 5

The natural rate of unemployment refers to the current unemployment rate.

Accepted Answer

A) True 
 B)False

Question 6

The unemployment rate equals the percentage of the labor force that is unemployed.

Accepted Answer

A) True 
 B)False

Question 7

Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Accepted Answer

A) True 
 B)False

Question 8

Figure 15-1 
-Refer to Figure 15-1.At the equilibrium wage,how many workers are unemployed?

Accepted Answer

A)   0
B)   4000
C)   5000
D)   8000E) B) and C)
F) A) and B)

Question 9

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

Accepted Answer

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

Question 10

Over the past several decades,the difference between the labor-force participation rates of men and women in the U.S.has gradually decreased.

Accepted Answer

A) True 
 B)False

Question 11

A survey showed that in each of the past 12 months there was one person who was unemployed who worked in all other months.There were also two people who were unemployed for all 12 months.What percentage of the unemployment spells during the year was short-term,and what percentage of the unemployment in a given month was long-term?

Accepted Answer

A)   75 percent and 33.3 percent
B)   75 percent and 66.7 percent
C)   85.7 percent and 33.3 percent
D)   85.7 percent and 66.7 percentE) C) and D)
F) A) and B)

Question 12

Unemployment insurance

Accepted Answer

A)   reduces search effort which raises unemployment.
B)   reduces search effort which lowers unemployment.
C)   increases search effort which raises unemployment.
D)   increases search effort which decreases unemployment.E) B) and D)
F) A) and D)

Question 13

An economy's natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

Accepted Answer

A) True 
 B)False

Question 14

Some degree of unemployment is __________ in a complex economy.

Accepted Answer

The answer of Some degree of unemployment is __________ in...

Question 15

A labor union is similar to a __________.

Accepted Answer

The answer of A labor union is similar to a...

Question 16

Sectoral shifts temporarily cause unemployment.

Accepted Answer

A) True 
 B)False

Question 17

In 2009,based on concepts similar to those used to estimate U.S.employment figures,the Swedish adult non-institutionalized population was 7.568 million,the labor force was 4.888 million,and the number of people employed was 4.486 million.According to these numbers,the Swedish labor-force participation rate and unemployment rate were about

Accepted Answer

A)   64.6% and 8.2%.
B)   64.6% and 5.3%.
C)   59.3% and 8.2%.
D)   59.3% and 5.3%.E) A) and B)
F) A) and C)

Question 18

Give a few examples of how sectoral shifts temporarily cause unemployment.

Accepted Answer

Examples should focus on sectors of the ...

Question 19

The Bureau of Labor Statistics reported in 2005 that there were 50.40 million people over age 25 whose highest level of education was some college or an associate degree,33.86 million of whom were employed and 1.27 million of whom were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A)   69.7% and 2.5%
B)   69.7% and 3.6%
C)   67.2% and 2.5%
D)   67.2% and 3.6%E) A) and B)
F) All of the above

Question 20

In one year,you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year.What percentage of the unemployment spells you encountered was short-term,and what percentage of the unemployment you encountered in a given week was long-term?

Accepted Answer

A)   52 percent and 13.3 percent
B)   52 percent and 88.9 percent
C)   86.7 percent and 13.3 percent
D)   86.7 percent and 88.9 percentE) A) and C)
F) A) and D)

Exam 28: Unemployment

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

Correct Answer
verified

In one year,you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year.What percentage of the unemployment spells you encountered was short-term,and what percentage of the unemployment you encountered in a given week was long-term?

Correct Answer
verified

An economy's natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

Correct Answer
verified

Sectoral shifts temporarily cause unemployment.

Correct Answer
verified

Unemployment insurance

Correct Answer
verified

The natural rate of unemployment refers to the current unemployment rate.

Correct Answer
verified

Over the past several decades,the difference between the labor-force participation rates of men and women in the U.S.has gradually decreased.

Correct Answer
verified

Give a few examples of how sectoral shifts temporarily cause unemployment.

Correct Answer
verified
Examples should focus on sectors of the ...
View Answer

The unemployment rate equals the percentage of the labor force that is unemployed.

Correct Answer
verified

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Correct Answer
verified

Correct Answer
verified

Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Correct Answer
verified

A labor union is similar to a __________.

Correct Answer
verified

Some degree of unemployment is __________ in a complex economy.

Correct Answer
verified

The BLS classifies people who would like to work but have given up looking for a job as

Correct Answer
verified

Correct Answer
verified

Figure 15-1 -Refer to Figure 15-1.At the equilibrium wage,how many workers are unemployed?

Correct Answer
verified

Correct Answer
verified

Which of the following is correct?

Correct Answer
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Who of the following is counted as unemployed by the BLS?

Correct Answer
verified

Exam 28: Unemployment

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

Correct AnswerverifiedShow Answer

In one year,you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year.What percentage of the unemployment spells you encountered was short-term,and what percentage of the unemployment you encountered in a given week was long-term?

Correct AnswerverifiedShow Answer

An economy's natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

Correct AnswerverifiedShow Answer

Sectoral shifts temporarily cause unemployment.

Correct AnswerverifiedShow Answer

Unemployment insurance

Correct AnswerverifiedShow Answer

The natural rate of unemployment refers to the current unemployment rate.

Correct AnswerverifiedShow Answer

Over the past several decades,the difference between the labor-force participation rates of men and women in the U.S.has gradually decreased.

Correct AnswerverifiedShow Answer

Give a few examples of how sectoral shifts temporarily cause unemployment.

Correct AnswerverifiedExamples should focus on sectors of the ...View AnswerShow Answer

The unemployment rate equals the percentage of the labor force that is unemployed.

Correct AnswerverifiedShow Answer

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Correct AnswerverifiedShow Answer

A labor union is similar to a __________.

Correct AnswerverifiedShow Answer

Some degree of unemployment is __________ in a complex economy.

Correct AnswerverifiedShow Answer

The BLS classifies people who would like to work but have given up looking for a job as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 15-1 -Refer to Figure 15-1.At the equilibrium wage,how many workers are unemployed?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Who of the following is counted as unemployed by the BLS?

Correct AnswerverifiedShow Answer

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verified
Examples should focus on sectors of the ...
View Answer

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