Question 1

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

Accepted Answer

A)   Anique,who did not work during the previous 4 weeks
B)   Evelien,who tried to find new employment during the previous 4 weeks
C)   Renate,who was an unpaid worker during the previous 4 weeks
D)   None of the above is correct.E) A) and C)
F) All of the above

Question 2

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 3

Table 28-4
 
-Refer to Table 28-4.What is the U-2 measure of labor underutilization?

Accepted Answer

A)   1.5 percent
B)   3.1 percent
C)   4.7 percent
D)   6.2 percentE) A) and B)
F) None of the above

Question 4

Table 28-4
 
-Refer to Table 28-4.What is the U-6 measure of labor underutilization?

Accepted Answer

A)   8.4 percent
B)   9.0 percent
C)   9.2 percent
D)   35.2 percentE) B) and C)
F) A) and D)

Question 5

U.S.Department of Labor data show that minimum-wage workers tend to be young,less educated,more likely to be working part time,and concentrated in the leisure and hospitality industry.

Accepted Answer

A) True 
 B)False

Question 6

Every month,the Bureau of Labor Statistics surveys 160,000 business establishments to help determine

Accepted Answer

A)   the number of people unemployed.
B)   the number of jobs the economy has gained or lost.
C)   the size of the labor force.
D)   the number of people who own their own businesses.E) B) and C)
F) A) and C)

Question 7

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

Accepted Answer

A)   gradually increased.
B)   remained constant.
C)   gradually decreased.
D)   been eliminated.E) B) and D)
F) All of the above

Question 8

Figure 28-1 
-Refer to Figure 28-1.If unemployment is 2000 workers,then the minimum wage must be

Accepted Answer

A)   $4.
B)   $5.
C)   $7.
D)   $8.E) B) and D)
F) A) and D)

Question 9

Matilda just graduated from college.In order to devote all her efforts to college,she didn't hold a job.She is going to cruise around the country on her motorcycle for a month before she starts looking for work.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)   and the labor-force participation rate are both unaffected.E) A) and B)
F) A) and C)

Question 10

Which of the following is not a cause of the changing role of women in American society over the past several decades?

Accepted Answer

A)   new technologies that have reduced the amount of time required to complete routine household tasks
B)   improved birth control
C)   changing political and social attitudes
D)   scientists have shown that women are better employees than menE) B) and D)
F) A) and B)

Question 11

Table 28-5
2010 Labor Data for Wrexington
 
-Refer to Table 28-5.The unemployment rate of Wrexington in 2010 is about 18.4 percent.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Figure 28-1 
-Refer to Figure 28-1.If the government imposes a minimum wage of $8,then unemployment will increase by

Accepted Answer

A)   0 workers.
B)   2000 workers.
C)   4000 workers.
D)   7000 workers.E) A) and B)
F) A) and C)

Question 14

Sectoral changes

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

Question 15

Most spells of unemployment are

Accepted Answer

A)   long,and most unemployment observed at any given time is long term.
B)   long,but most unemployment observed at any given time is short term.
C)   short,but most unemployment observed at any given time is long term.
D)   short,and most unemployment observed at any given time is short term.E) B) and C)
F) A) and B)

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Measuring unemployment is the job of the Bureau of Labor Statistics,which is part of the U.S.Department of Commerce.

Accepted Answer

A) True 
 B)False

Question 18

If minimum-wage laws,unions,efficiency wages,and all other factors that could prevent wages from reaching equilibrium were eliminated,then there would be no

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   structural unemployment.
D)   natural rate of unemployment.E) None of the above
F) All of the above

Question 19

Table 28-5
2010 Labor Data for Wrexington
 
-Refer to Table 28-5.The total adult population of Wrexington in 2010 is 12,250.

Accepted Answer

A) True 
 B)False

Question 20

The efficiency-wage theory of worker turnover suggests that firms with

Accepted Answer

A)   higher turnover will have higher production costs and higher profits.
B)   higher turnover will have higher production costs and lower profits.
C)   higher turnover will have lower production costs and higher profits.
D)   higher turnover will have lower production costs and lower profits.E) B) and C)
F) None of the above

Exam 28: Unemployment

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

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Every month,the Bureau of Labor Statistics surveys 160,000 business establishments to help determine

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Sectoral changes

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

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Figure 28-1 -Refer to Figure 28-1.If the government imposes a minimum wage of $8,then unemployment will increase by

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Table 28-5 2010 Labor Data for Wrexington -Refer to Table 28-5.The total adult population of Wrexington in 2010 is 12,250.

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Figure 28-1 -Refer to Figure 28-1.If unemployment is 2000 workers,then the minimum wage must be

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Measuring unemployment is the job of the Bureau of Labor Statistics,which is part of the U.S.Department of Commerce.

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

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Matilda just graduated from college.In order to devote all her efforts to college,she didn't hold a job.She is going to cruise around the country on her motorcycle for a month before she starts looking for work.Other things the same,the unemployment rate

Correct AnswerverifiedShow Answer

The efficiency-wage theory of worker turnover suggests that firms with

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Most spells of unemployment are

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Table 28-4 -Refer to Table 28-4.What is the U-6 measure of labor underutilization?

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

Correct AnswerverifiedShow Answer

Which of the following is not a cause of the changing role of women in American society over the past several decades?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

If minimum-wage laws,unions,efficiency wages,and all other factors that could prevent wages from reaching equilibrium were eliminated,then there would be no

Correct AnswerverifiedShow Answer

Table 28-5 2010 Labor Data for Wrexington -Refer to Table 28-5.The unemployment rate of Wrexington in 2010 is about 18.4 percent.

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Table 28-4 -Refer to Table 28-4.What is the U-2 measure of labor underutilization?

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U.S.Department of Labor data show that minimum-wage workers tend to be young,less educated,more likely to be working part time,and concentrated in the leisure and hospitality industry.

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