Question 1

In terms of duration, how does cyclical unemployment differ from structural unemployment?

Accepted Answer

Cyclical unemploymen...

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

Paying efficiency wages means that wages are

Accepted Answer

A)   above equilibrium, and profits are higher than otherwise.
B)   above equilibrium, and profits are lower than otherwise.
C)   below equilibrium, and profits are higher than otherwise.
D)   below equilibrium, and profits are lower than otherwise.E) None of the above
F) A) and B)

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Table 28-11
2010 Labor Data for Tajnia
 
-Refer to Table 28-11. The total adult population of Tajnia in 2010 is 30,000.

Accepted Answer

A) True 
 B)False

Question 6

The Bureau of Labor Statistics divides the adult population into two categories: those who are employed and those who are unemployed.

Accepted Answer

A) True 
 B)False

Question 7

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey.

Accepted Answer

A) True 
 B)False

Question 8

The Bureau of Labor Statistics' household survey and establishment survey both yield the same results about total employment.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A)   40 million
B)   70 million
C)   100 million
D)   105 millionE) A) and D)
F) B) and C)

Question 10

Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate?

Accepted Answer

A)   6.7%
B)   9.5%
C)   10.5%
D)   28%E) B) and D)
F) B) and C)

Question 11

Someone who loses his job at a truck factory because the demand for trucks has fallen and the demand for cars has risen, is structurally unemployed.

Accepted Answer

A) True 
 B)False

Question 12

The effects of unionization on wages in the sectors of the economy that are unionized causes the supply of labor in other sectors of the economy to

Accepted Answer

A)   decrease, raising wages in industries that are not unionized.
B)   decrease, reducing wages in industries that are not unionized.
C)   increase, raising wages in industries that are not unionized.
D)   increase, reducing wages in industries that are not unionized.E) A) and D)
F) A) and C)

Question 13

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 $4 in Productionville, how many people would be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   3,000
D)   10,000E) A) and B)
F) All of the above

Question 14

A firm may pay efficiency wages in an attempt to

Accepted Answer

A)   reduce incentives to shirk.
B)   reduce turnover.
C)   attract a well-qualified pool of applicants.
D)   All of the above are correct.E) B) and D)
F) B) and C)

Question 15

Figure 28-4 
-Refer to Figure 28-4. If the government imposes a minimum wage of $5, how many workers will be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   4,000
D)   6,000E) B) and D)
F) C) and D)

Question 16

Which of the following is not a cause of the decline in the U.S. men's labor­force participation rate over the past several decades?

Accepted Answer

A)   young men now stay in school longer than their fathers and grandfathers did
B)   older men now retire earlier and live longer
C)   with more women employed, there are fewer jobs now available to men
D)   more fathers now stay at home to raise their childrenE) B) and D)
F) A) and C)

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

The natural rate of unemployment is constant over time.

Accepted Answer

A) True 
 B)False

Question 19

The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse but created jobs for telegraph operators and delivery persons. This is an example of

Accepted Answer

A)   structural unemployment created by efficiency wages.
B)   structural unemployment created by sectoral shifts.
C)   frictional unemployment created by efficiency wages.
D)   frictional unemployment created by sectoral shifts.E) B) and C)
F) A) and B)

Question 20

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The number of adults not in 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) A) and B)

Exam 15: Unemployment

The natural rate of unemployment is constant over time.

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In terms of duration, how does cyclical unemployment differ from structural unemployment?

Correct AnswerverifiedCyclical unemploymen...View AnswerShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia

Correct AnswerverifiedShow Answer

The effects of unionization on wages in the sectors of the economy that are unionized causes the supply of labor in other sectors of the economy to

Correct AnswerverifiedShow Answer

The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse but created jobs for telegraph operators and delivery persons. This is an example of

Correct AnswerverifiedShow Answer

Someone who loses his job at a truck factory because the demand for trucks has fallen and the demand for cars has risen, is structurally unemployed.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' household survey and establishment survey both yield the same results about total employment.

Correct AnswerverifiedShow Answer

A firm may pay efficiency wages in an attempt to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $5, how many workers will be unemployed?

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

Correct AnswerverifiedShow Answer

Paying efficiency wages means that wages are

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics divides the adult population into two categories: those who are employed and those who are unemployed.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey.

Correct AnswerverifiedShow 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 $4 in Productionville, how many people would be unemployed?

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Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The total adult population of Tajnia in 2010 is 30,000.

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

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Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate?

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Which of the following is not a cause of the decline in the U.S. men's labor­force participation rate over the past several decades?

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Cyclical unemploymen...
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Which of the following is not a cause of the decline in the U.S. men's laborforce participation rate over the past several decades?

Correct Answer
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