Question 1

Table 15-4
 
-Refer to Table 15-4.What is the U-3 measure of labor underutilization?

Accepted Answer

A)   4.7 percent
B)   6.2 percent
C)   7.0 percent
D)   10.9 percentE) A) and C)
F) A) and B)

Question 2

Since the 1940's U.S.union membership has

Accepted Answer

A)   fallen.This decline should have reduced structural unemployment.
B)   fallen.This decline should not have reduced structural unemployment.
C)   risen.This increase should have raised structural unemployment.
D)   risen.This increase should not have raised structural unemployment.E) All of the above
F) B) and C)

Question 3

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Accepted Answer

A) True 
 B)False

Question 4

Wages in excess of their equilibrium level help explain

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) C) and D)
F) A) and D)

Question 5

An important determinant of a country's standard of living is the amount of __________ it typically experiences.

Accepted Answer

The answer of An important determinant of a country's standard...

Question 6

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.

Accepted Answer

A) True 
 B)False

Question 7

According to 2009 data on the U.S.population,which of the following groups of adults (ages 20 and older) had the lowest unemployment rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) None of the above
F) C) and D)

Question 8

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment.

Accepted Answer

A) True 
 B)False

Question 9

Evidence indicates that the typical person who becomes unemployed will

Accepted Answer

A)   soon find a job.
B)   find a job,but not before a year or more has gone by.
C)   leave the labor force and never return.
D)   retire soon afterE) C) and D)
F) None of the above

Question 10

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 11

More generous unemployment insurance would

Accepted Answer

A)   raise structural unemployment.
B)   raise frictional unemployment.
C)   lower structural unemployment.
D)   lower frictional unemployment.E) A) and B)
F) B) and C)

Question 12

Briefly summarize the advantages and disadvantages of unemployment insurance.

Accepted Answer

The main advantage is that unemployment ...

Question 13

According to the theory of efficiency wages,it may be profitable for firms to keep wages high even in the presence of a surplus of labor.

Accepted Answer

A) True 
 B)False

Question 14

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

Accepted Answer

A) True 
 B)False

Question 15

What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages.

Accepted Answer

According to the theory of efficiency wa...

Question 16

Sectoral changes in demand

Accepted Answer

A)   create frictional unemployment,while firms paying wages above equilibrium to attract a better pool of candidates creates structural unemployment.
B)   create structural unemployment,while firms paying wages above equilibrium to attract a better pool of candidates creates frictional unemployment.
C)   and firms paying wages above equilibrium to attract a better pool of candidates both create structural unemployment.
D)   and firms paying wages above equilibrium to attract a better pool of candidates both create frictional unemployment.E) All of the above
F) A) and D)

Question 17

People who report being unemployed but who,in fact,are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be.

Accepted Answer

A) True 
 B)False

Question 18

Full-time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 19

Table 15-5
2010 Labor Data for Tajnia
 
-Refer to Table 15-5.The labor force of Tajnia in 2010 is 12,250.

Accepted Answer

A) True 
 B)False

Question 20

Unions contribute to

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   seasonal unemployment.
D)   structural unemployment.E) B) and D)
F) None of the above

Exam 28: Unemployment

According to the theory of efficiency wages,it may be profitable for firms to keep wages high even in the presence of a surplus of labor.

Correct AnswerverifiedShow Answer

Briefly summarize the advantages and disadvantages of unemployment insurance.

Correct AnswerverifiedThe main advantage is that unemployment ...View AnswerShow Answer

An important determinant of a country's standard of living is the amount of __________ it typically experiences.

Correct AnswerverifiedShow Answer

According to 2009 data on the U.S.population,which of the following groups of adults (ages 20 and older) had the lowest unemployment rate?

Correct AnswerverifiedShow Answer

More generous unemployment insurance would

Correct AnswerverifiedShow Answer

Table 15-5 2010 Labor Data for Tajnia -Refer to Table 15-5.The labor force of Tajnia in 2010 is 12,250.

Correct AnswerverifiedShow Answer

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment.

Correct AnswerverifiedShow Answer

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

Correct AnswerverifiedShow Answer

Unions contribute to

Correct AnswerverifiedShow Answer

What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages.

Correct AnswerverifiedAccording to the theory of efficiency wa...View AnswerShow Answer

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.

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Evidence indicates that the typical person who becomes unemployed will

Correct AnswerverifiedShow Answer

Sectoral changes in demand

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Correct AnswerverifiedShow Answer

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

Full-time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

Wages in excess of their equilibrium level help explain

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People who report being unemployed but who,in fact,are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be.

Correct AnswerverifiedShow Answer

Table 15-4 -Refer to Table 15-4.What is the U-3 measure of labor underutilization?

Correct AnswerverifiedShow Answer

Since the 1940's U.S.union membership has

Correct AnswerverifiedShow Answer

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The main advantage is that unemployment ...
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According to the theory of efficiency wa...
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