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Exam 15: Unemployment

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Question 151

Multiple Choice

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U.S. Department of Labor data show that minimum-wage workers tend to be

A) more likely to be working part time and in the communication industry.
B) more likely to be working part time and in the leisure and hospitality industry.
C) more likely to be working full time and in the communication industry.
D) more likely to be working full time and in the leisure and hospitality industry.

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

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Question 152

Multiple Choice

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The labor-force participation rate tells us the fraction of the population that

A) is able to participate in the labor market.
B) has ever been employed.
C) has chosen to participate in the labor market.
D) has chosen not to participate in the labor market.

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

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Question 153

Multiple Choice

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According to 2009 data on the U.S. population which of the following was correct for people ages 20 and over?

Renee is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then

Suppose that computer factory workers and cell phone factory workers have no unions. Now suppose that cell phone factory workers form unions. What does this do the labor supply of and wages of workers in computer factories?

Some degree of unemployment is inevitable in a complex economy.

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse, but created jobs for telegraph operators and delivery persons. This is an example of

Job search

The amount of unemployment that a country typically experiences is a determinant of its standard of living.

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

The adult labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market.

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Suppose some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

Ava owns her own business. The Bureau of Labor Statistics counts Ava as

Providing training for unemployed individuals is primarily intended to reduce

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

The unemployment that results from the process of matching workers and jobs is called frictional unemployment.

Table 15-3 2010 Labor Data for Adults (age 16 and older) in Meditor $\begin{array} { | l | l | } \hline \text { Males not in labar farce } & 45 \text { million } \\\hline \text { Femeles nat in labor force } & 35 \text { million } \\\hline \text { Males unemplayed } & 5 \text { millian } \\\hline \text { Fenales unemployed } & 5 \text { millian } \\\hline \text { Males employed } & 85 \text { million } \\\hline \text { Fenales enployed } & 65 \text { milling } \\\hline\end{array}$ -Refer to Table 15-3. What is the adult female population in Meditor?

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