Question 1

Workers searching for jobs that best suit them is most closely associated with

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   seasonal unemployment.
D)   structural unemployment.E) A) and B)
F) All of the above

Question 2

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 B)
F) B) and D)

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power.

Accepted Answer

A) True 
 B)False

Question 5

Unemployment insurance

Accepted Answer

A)   may improve the ability of the economy to match workers with appropriate jobs.
B)   reduces the job search efforts of the unemployed.
C)   increases the amount of frictional unemployment in the economy.
D)   All of the above are correct.E) None of the above
F) A) and C)

Question 6

Some of a firm's workers are made worse off by the introduction of a union.

Accepted Answer

A) True 
 B)False

Question 7

The labor force equals the sum of the employed and the unemployed.

Accepted Answer

A) True 
 B)False

Question 8

Government policy can do nothing about the natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 9

The Bureau of Labor Statistics reported in 2005 that there were 28.19 million people over age 25 who had no high school degree or its equivalent, 11.73 million of whom were employed and 1.04 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A)   45.3% and 3.7%
B)   45.3% and 8.1%
C)   41.6% and 3.7%
D)   41.6% and 8.1%E) B) and C)
F) A) and C)

Question 10

President Bigego is running for re-election against Senator Pander. Bigego proclaims that more people are working now than when he took office. Pander says that the unemployment rate is higher now than when Bigego took office. You conclude that

Accepted Answer

A)   one of them must be lying.
B)   both of them could be telling the truth if the labor force, and employment grew at the exact same rate.
C)   both of them could be telling the truth if the labor force grew slower than employment.
D)   both of them could be telling the truth if the labor force grew faster than employment.E) All of the above
F) A) and B)

Question 11

Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed but not in the labor force.
C)   in the labor force but not unemployed.
D)   neither in the labor force nor unemployed.E) C) and D)
F) A) and B)

Question 12

How are discouraged workers counted in the unemployment rate?

Accepted Answer

Because discouraged workers ar...

Question 13

Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions

Accepted Answer

A)   cause unemployment, but efficiency wages do not.
B)   cause the quantity of labor supplied to exceed the quantity of labor demanded, but efficiency wages do not.
C)   cause wages to be above the equilibrium level.
D)   prevent firms from lowering wages in the presence of a surplus of workers.E) C) and D)
F) None of the above

Question 14

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 15

Explain the effect of right-to-work laws on the collective bargaining power of labor unions.

Accepted Answer

Right-to-work laws decrease th...

Question 16

The Bureau of Labor Statistics' "unemployed" category includes those who were not employed, were available for work, and had tried to find employment during the previous four weeks.

Accepted Answer

A) True 
 B)False

Question 17

Job search

Accepted Answer

A)   is one reason economies always experience some unemployment.
B)   is the process of matching workers with appropriate jobs.
C)   would not be a problem if all workers and all jobs were the same.
D)   All of the above are correct.E) All of the above
F) None of the above

Question 18

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 $6 in Productionville, how many people would be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   3,000
D)   5,000E) All of the above
F) B) and C)

Question 19

Sectoral shifts in demand for output

Accepted Answer

A)   create structural unemployment.
B)   immediately reduce unemployment.
C)   increase unemployment due to job search.
D)   do not affect demand for labor.E) A) and B)
F) None of the above

Question 20

Define the natural rate of unemployment and cyclical unemployment.

Accepted Answer

The natural rate of unemployment refers ...

Exam 15: Unemployment

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 Answer
verified

Unemployment insurance

Correct Answer
verified

Some of a firm's workers are made worse off by the introduction of a union.

Correct Answer
verified

Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power.

Correct Answer
verified

Correct Answer
verified

Government policy can do nothing about the natural rate of unemployment.

Correct Answer
verified

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

Correct Answer
verified

Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as

Correct Answer
verified

Define the natural rate of unemployment and cyclical unemployment.

Correct Answer
verified
The natural rate of unemployment refers ...
View Answer

Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions

Correct Answer
verified

Job search

Correct Answer
verified

Explain the effect of right-to-work laws on the collective bargaining power of labor unions.

Correct Answer
verified
Right-to-work laws decrease th...
View Answer

Workers searching for jobs that best suit them is most closely associated with

Correct Answer
verified

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Correct Answer
verified

Sectoral shifts in demand for output

Correct Answer
verified

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 $6 in Productionville, how many people would be unemployed?

Correct Answer
verified

President Bigego is running for re-election against Senator Pander. Bigego proclaims that more people are working now than when he took office. Pander says that the unemployment rate is higher now than when Bigego took office. You conclude that

Correct Answer
verified

The labor force equals the sum of the employed and the unemployed.

Correct Answer
verified

How are discouraged workers counted in the unemployment rate?

Correct Answer
verified
Because discouraged workers ar...
View Answer

The Bureau of Labor Statistics' "unemployed" category includes those who were not employed, were available for work, and had tried to find employment during the previous four weeks.

Correct Answer
verified

Exam 15: Unemployment

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

Unemployment insurance

Correct AnswerverifiedShow Answer

Some of a firm's workers are made worse off by the introduction of a union.

Correct AnswerverifiedShow Answer

Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Government policy can do nothing about the natural rate of unemployment.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as

Correct AnswerverifiedShow Answer

Define the natural rate of unemployment and cyclical unemployment.

Correct AnswerverifiedThe natural rate of unemployment refers ...View AnswerShow Answer

Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions

Correct AnswerverifiedShow Answer

Job search

Correct AnswerverifiedShow Answer

Explain the effect of right-to-work laws on the collective bargaining power of labor unions.

Correct AnswerverifiedRight-to-work laws decrease th...View AnswerShow Answer

Workers searching for jobs that best suit them is most closely associated with

Correct AnswerverifiedShow Answer

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Correct AnswerverifiedShow Answer

Sectoral shifts in demand for output

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 $6 in Productionville, how many people would be unemployed?

Correct AnswerverifiedShow Answer

President Bigego is running for re-election against Senator Pander. Bigego proclaims that more people are working now than when he took office. Pander says that the unemployment rate is higher now than when Bigego took office. You conclude that

Correct AnswerverifiedShow Answer

The labor force equals the sum of the employed and the unemployed.

Correct AnswerverifiedShow Answer

How are discouraged workers counted in the unemployment rate?

Correct AnswerverifiedBecause discouraged workers ar...View AnswerShow Answer

The Bureau of Labor Statistics' "unemployed" category includes those who were not employed, were available for work, and had tried to find employment during the previous four weeks.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The natural rate of unemployment refers ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Right-to-work laws decrease th...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Because discouraged workers ar...
View Answer

Correct Answer
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