Question 1

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Accepted Answer

A) True 
 B)False

Question 2

The introduction of a union into a firm benefits all of that firm's workers.

Accepted Answer

A) True 
 B)False

Question 3

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The labor-force participation rate of Aridia

Accepted Answer

A)   increased both from 2010 to 2011 and from 2011 to 2012.
B)   increased from 2010 to 2011 but decreased from 2011 to 2012.
C)   decreased from 2010 to 2011 but increased from 2011 to 2012.
D)   decreased both from 2010 to 2011 and from 2011 to 2012.E) B) and D)
F) None of the above

Question 4

People who are unemployed because they are in search of a job that suits their skills are included within

Accepted Answer

A)   structural unemployment.
B)   frictional unemployment.
C)   cyclical unemployment.
D)   marginal unemployment.E) C) and D)
F) A) and B)

Question 5

Discuss the labor-force participation trends for men and women since 1950.

Accepted Answer

The labor-force participation rates for ...

Question 6

Minimum wages are the predominant reason for unemployment in the U.S. economy.

Accepted Answer

A) True 
 B)False

Question 7

Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a

Accepted Answer

A)   higher unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be higher.
B)   higher unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment.
C)   lower unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be lower.
D)   lower unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment.E) A) and B)
F) All of the above

Question 8

Who would be included in the labor force?

Accepted Answer

A)   Louie, who is waiting for his new job to start
B)   Daisey, who has become discouraged looking for a job and has quit looking
C)   Donald, an unpaid stay-at-home father
D)   None of the above is correct.E) None of the above
F) A) and D)

Question 9

Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then

Accepted Answer

A)   both the unemployment rate and labor-force participation rate would be higher.
B)   both the unemployment rate and labor-force participation rate would be lower.
C)   the unemployment rate would be higher, and the labor-force participation rate would be higher.
D)   the unemployment rate would be lower, and the labor-force participation rate would be unaffected.E) A) and D)
F) B) and C)

Question 10

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

Accepted Answer

A)   1.425 million
B)   1.5 million
C)   2.5 million
D)   5 millionE) C) and D)
F) B) and C)

Question 11

Most job search in the U.S. economy takes place with the help of the government.

Accepted Answer

A) True 
 B)False

Question 12

The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree, 40.59 million of whom were employed and 0.98 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A)   76.3% and 1.8%
B)   76.3% and 2.4%
C)   78.1% and 1.8%
D)   78.1% and 2.4%E) None of the above
F) All of the above

Question 13

Unions

Accepted Answer

A)   raise the wages of unionized workers and raise unemployment.
B)   raise the wages of unionized workers and reduce unemployment.
C)   reduce the wages of unionized workers and raise unemployment.
D)   reduce the wages of unionized workers and reduce unemployment.E) A) and B)
F) B) and C)

Question 14

Suppose that a well-respected study published in Child Psychology Today finds that a very high proportion of children raised by stay-at-home fathers are accepted to Harvard University. If a large number of previously working fathers quit their jobs and become stay-at-home dads, which of the following will occur, all else equal?
I The unemployment rate will decrease.
Ii The size of the labor force will decrease.
Iii The number of unemployed people will increase.
Iv)  The unemployment rate will increase.

Accepted Answer

A)   i)  and ii)  only
B)   ii)  and iv)  only
C)   i) , ii) , and iii)  only
D)   ii) , iii) , and iv)  onlyE) All of the above
F) B) and D)

Question 15

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The labor force of Aridia

Accepted Answer

A)   increased both from 2010 to 2011 and from 2011 to 2012.
B)   increased from 2010 to 2011 but decreased from 2011 to 2012.
C)   decreased from 2010 to 2011 but increased from 2011 to 2012.
D)   decreased both from 2010 to 2011 and from 2011 to 2012.E) B) and C)
F) None of the above

Question 16

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Accepted Answer

A) True 
 B)False

Question 17

Table 28-3
2009 Labor Data for Baltivia
 
-Refer to Table 28-3. What was Baltivia's unemployment rate in 2009?

Accepted Answer

A)   8.0%
B)   12.7%
C)   15.9%
D)   22.1%E) B) and D)
F) A) and C)

Question 18

List the main employment characteristics over which a labor union negotiates for its workers.

Accepted Answer

higher wages, better...

Question 19

Figure 28-4 
-Refer to Figure 28-4. If the government imposes a minimum wage of $2, how many workers will be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   4,000
D)   6,000E) All of the above
F) B) and C)

Question 20

Table 28-7
Below is data about the labor market in the city of Productionville.
 
-Refer to Table 28-7. If the local government imposed a minimum wage of $8 in Productionville, how many people would be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   5,000
D)   10,000E) A) and C)
F) B) and C)

Exam 10: Unemployment and Its Natural Rate

Correct Answer
verified

Most job search in the U.S. economy takes place with the help of the government.

Correct Answer
verified

The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree, 40.59 million of whom were employed and 0.98 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Correct Answer
verified

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $2, how many workers will be unemployed?

Correct Answer
verified

Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a

Correct Answer
verified

Unions

Correct Answer
verified

Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then

Correct Answer
verified

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

Correct Answer
verified

List the main employment characteristics over which a labor union negotiates for its workers.

Correct Answer
verified
higher wages, better...
View Answer

Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $8 in Productionville, how many people would be unemployed?

Correct Answer
verified

Who would be included in the labor force?

Correct Answer
verified

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Correct Answer
verified

People who are unemployed because they are in search of a job that suits their skills are included within

Correct Answer
verified

Minimum wages are the predominant reason for unemployment in the U.S. economy.

Correct Answer
verified

The introduction of a union into a firm benefits all of that firm's workers.

Correct Answer
verified

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia

Correct Answer
verified

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Correct Answer
verified

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's unemployment rate in 2009?

Correct Answer
verified

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor-force participation rate of Aridia

Correct Answer
verified

Discuss the labor-force participation trends for men and women since 1950.

Correct Answer
verified
The labor-force participation rates for ...
View Answer

Exam 10: Unemployment and Its Natural Rate

Correct AnswerverifiedShow Answer

Most job search in the U.S. economy takes place with the help of the government.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree, 40.59 million of whom were employed and 0.98 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Correct AnswerverifiedShow Answer

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $2, how many workers will be unemployed?

Correct AnswerverifiedShow Answer

Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a

Correct AnswerverifiedShow Answer

Unions

Correct AnswerverifiedShow Answer

Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then

Correct AnswerverifiedShow Answer

Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

Correct AnswerverifiedShow Answer

List the main employment characteristics over which a labor union negotiates for its workers.

Correct Answerverifiedhigher wages, better...View AnswerShow Answer

Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $8 in Productionville, how many people would be unemployed?

Correct AnswerverifiedShow Answer

Who would be included in the labor force?

Correct AnswerverifiedShow Answer

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Correct AnswerverifiedShow Answer

People who are unemployed because they are in search of a job that suits their skills are included within

Correct AnswerverifiedShow Answer

Minimum wages are the predominant reason for unemployment in the U.S. economy.

Correct AnswerverifiedShow Answer

The introduction of a union into a firm benefits all of that firm's workers.

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia

Correct AnswerverifiedShow Answer

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Correct AnswerverifiedShow Answer

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's unemployment rate in 2009?

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor-force participation rate of Aridia

Correct AnswerverifiedShow Answer

Discuss the labor-force participation trends for men and women since 1950.

Correct AnswerverifiedThe labor-force participation rates for ...View AnswerShow Answer

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higher wages, better...
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The labor-force participation rates for ...
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