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Exam 28: Unemployment

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Question 41

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Which of the following causes of unemployment is associated with a wage rate above the market equilibrium level?

A) minimum-wage laws
B) unions
C) efficiency wages
D) All of the above are correct.

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

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Question 42

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Most spells of unemployment are long,and most unemployment observed at any given time is short-term.

A) True
B) False

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Question 43

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Suppose that telemarketers are not unionized.If they unionize,then the supply of labor in other sectors of the economy will

Data show that at least 20 percent of U.S.manufacturing jobs are destroyed every year.

The Bureau of Labor Statistics' U-5 measure of joblessness includes marginally attached workers.

The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate.

Wages in excess of their equilibrium level help explain

Unions contribute to

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

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The labor force of Wrexington in 2006 was

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?

Table 28-4 -Refer to Table 28-4.What is the U-3 measure of labor underutilization?

Within the U.S.population,blacks ages 20 and older have similar rates of labor-force participation as whites.

The Bureau of Labor Statistics defines the unemployment rate as the percentage of the adult population that is unemployed.

More than 30 percent of U.S.workers leave their jobs in a typical month.

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then job search would not be a problem.

The unemployed who quit their jobs,were fired for cause,or just entered the labor force are not eligible for unemployment insurance.

Table 28-2 2009 Labor Data for Wrexington -Refer to Table 28-2.How many people were employed in Wrexington in 2009?

Unemployment that exists because it takes time for workers to search for the jobs that suit them best is

The Bureau of Labor Statistics defines the unemployment rate as the percentage of the labor force that is unemployed.