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Exam 20: Unemployment

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Question 291

Multiple Choice

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Adam is looking for a job in marketing. He has had some offers and his prospects are promising, but he has not yet accepted a job. Amanda lost her job working for Mercury Bicycles because many customers decided they prefer bicycles manufactured by Ultimate Bicycles instead. Who is frictionally unemployed?

A) Adam but not Amanda
B) Amanda but not Adam
C) both Adam and Amanda
D) neither Amanda nor Adam

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

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Question 292

True/False

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Within the U.S. population, teenagers ages 16-19 have similar rates of unemployment than adults of prime working age ages 25-54, regardless of race or gender.

A) True
B) False

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Question 293

True/False

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In 2012, the U.S. natural rate of unemployment was estimated to be about 5.5 percent, which at the time was below the actual rate of unemployment of about 8.1 percent.

Jenna is searching for a job that suits her tastes about where to live. Mary is looking for a job that makes best use of her skills.

Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult male population in Meditor?

Give a few examples of how sectoral shifts temporarily cause unemployment.

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

Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months. Other things the same, the unemployment rate

Do economists believe that labor unions are good or bad for the U.S. economy?

Which famous company executive introduced an innovative pay system that is consistent with the theory of efficiency wages?

Susan is a plant manager in charge of a factory in a relatively poor country. Even though market wages are low, she decides to raise the wages of her workers. Her decision

The natural rate of unemployment refers to the current unemployment rate.

Job search is the process of matching workers with appropriate jobs.

Every week, the Bureau of Labor Statistics produces data on unemployment.

Which of the following is correct?

According to 2012 data on the U.S. population, which of the following groups of teenagers ages (16-19) had the lowest unemployment rate?

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

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

The Bureau of Labor Statistics' "employed" category includes those who worked as paid employees, worked in their own business, or worked as unpaid workers in a family member's business.

In the U.S., it is illegal for employers to interfere when workers try to organize unions.