Question 1

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

Accepted Answer

A) True 
 B)False

Question 2

The Bureau of Labor Statistics' U­3 measure of joblessness is the official unemployment rate.

Accepted Answer

A) True 
 B)False

Question 3

It is best to view the official unemployment rate as a useful but imperfect measure of joblessness.

Accepted Answer

A) True 
 B)False

Question 4

A firm might offer efficiency wages in order to attract a better pool of applicants.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Noah is an unpaid stay-at-home father who is not currently searching for paid work. Pete is a full-time student who is not looking for a job. Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   only Noah
B)   only Pete
C)   both Noah and Pete
D)   neither Noah nor PeteE) B) and D)
F) B) and C)

Question 8

Figure 28-4 
-Refer to Figure 28-4. If the government imposes a minimum wage of $3, how many workers will be unemployed?

Accepted Answer

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

Question 9

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

Question 10

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)   certain unpaid workers
B)   part-time workers
C)   workers on vacation
D)   All of the above are correct.E) A) and C)
F) All of the above

Question 11

Suppose there are a large number of men who used to work or seek work who now no longer do either. Other things the same, this makes

Accepted Answer

A)   the number of people unemployed rise but does not change the labor force.
B)   the number of people unemployed rise but makes the labor force fall.
C)   both the number of people unemployed and the labor force fall.
D)   the number of people unemployed fall but does not change the labor force.E) A) and B)
F) B) and D)

Question 12

Which of the following is an example of an efficiency wage?

Accepted Answer

A)   a high wage paid to compensate for dangerous work such as coal mining
B)   an above-equilibrium wage offered by a firm to attract a more talented pool of job applicants
C)   a wage below the minimum wage but supplemented by customer tips
D)   a high wage paid to a college graduate for a high-skill job such as electrical engineeringE) None of the above
F) B) and C)

Question 13

Minimum wage laws, labor unions, and efficiency wages all generate unemployment by what common mechanism?

Accepted Answer

Wages bein...

Question 14

Write the formula for calculating the labor force participation rate.

Accepted Answer

The answer of Write the formula for calculating the labor...

Question 15

The National Labor Relations Board

Accepted Answer

A)   enforces antitrust laws against unions.
B)   enforces workers' rights to unionize.
C)   acts as a union's representative in collective bargaining.
D)   is required to approve all collective bargaining agreements before they can be enforced.E) A) and D)
F) B) and C)

Question 16

The labor force equals the

Accepted Answer

A)   number of people employed.
B)   number of people employed plus the number of people unemployed.
C)   number of people employed plus the number of people unemployed plus teenagers between ages 14 and 16 who work at least 10 hours a week.
D)   adult population.E) A) and D)
F) A) and C)

Question 17

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Accepted Answer

A)   Black males had higher labor-force participation rates and lower unemployment rates compared to white males.
B)   Black males had both higher labor-force participation rates and higher unemployment rates compared to white males.
C)   Black males had both lower labor-force participation rates and lower unemployment rates compared to white males.
D)   Black males had lower labor-force participation rates and higher unemployment rates compared to white males.E) A) and C)
F) B) and C)

Question 18

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Accepted Answer

A) True 
 B)False

Question 19

Frictional unemployment is inevitable because the economy is always changing.

Accepted Answer

A) True 
 B)False

Question 20

Table 28-11
2010 Labor Data for Tajnia
 
-Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

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

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Correct AnswerverifiedShow Answer

Noah is an unpaid stay-at-home father who is not currently searching for paid work. Pete is a full-time student who is not looking for a job. Who is included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

Which of the following is an example of an efficiency wage?

Correct AnswerverifiedShow Answer

Write the formula for calculating the labor force participation rate.

Correct AnswerverifiedShow Answer

The labor force equals the

Correct AnswerverifiedShow Answer

Frictional unemployment is inevitable because the economy is always changing.

Correct AnswerverifiedShow Answer

Suppose there are a large number of men who used to work or seek work who now no longer do either. Other things the same, this makes

Correct AnswerverifiedShow Answer

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

Correct AnswerverifiedShow Answer

It is best to view the official unemployment rate as a useful but imperfect measure of joblessness.

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages in order to attract a better pool of applicants.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' U­3 measure of joblessness is the official unemployment rate.

Correct AnswerverifiedShow Answer

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The National Labor Relations Board

Correct AnswerverifiedShow Answer

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $3, how many workers will be unemployed?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Minimum wage laws, labor unions, and efficiency wages all generate unemployment by what common mechanism?

Correct AnswerverifiedWages bein...View AnswerShow Answer

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Correct AnswerverifiedShow Answer

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The Bureau of Labor Statistics' U3 measure of joblessness is the official unemployment rate.

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Wages bein...
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