Question 1

Public policy, without intending to do so, can increase frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 2

Suppose that efficiency wages become more common in the economy. Imposing efficiency wages

Accepted Answer

A)   Increases the quantity demanded and decreases the quantity supplied of labor
B)   Decreases the quantity demanded and increases the quantity supplied of labor.
C)   increases the quantity demanded and decreases the quantity supplied of labor.,
D)   decreases the quantity demanded and increases the quantity supplied of labor.E) All of the above
F) C) and D)

Question 3

If the wage is kept above the equilibrium level for any reason, the result is unemployment.

Accepted Answer

A) True 
 B)False

Question 4

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

Accepted Answer

A) True 
 B)False

Question 5

If a union and a firm cannot reach an agreement on the terms of employment, then the union can organize a withdrawal of labor from the firm, called a strike.

Accepted Answer

A) True 
 B)False

Question 6

Table 28-10
The table below lists the number of people by labor force classification for the country of Springfield.
 
-Refer to Table 28-10. Calculate the U-5 unemployment rate.

Accepted Answer

The answer of Table 28-10
The table below lists the number...

Question 7

Table 28-3
2009 Labor Data for Baltivia
 
-Refer to Table 28-3. How many people were employed in Baltivia in 2009?

Accepted Answer

A)   9,600
B)   10,600
C)   11,000
D)   11,200E) None of the above
F) All of the above

Question 8

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54)  had the highest unemployment rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) B) and C)
F) A) and C)

Question 9

The table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table.

Accepted Answer

The answer of The table below uses data for the...

Question 10

Within the U.S. population, teenagers ages 16-19) have lower rates of labor-force participation than adults of prime working age ages 25-54), regardless of race or gender.

Accepted Answer

A) True 
 B)False

Question 11

When the wage is above the equilibrium level,

Accepted Answer

A)   the labor market is functioning more efficiently than it otherwise would function.
B)   there is a shortage of labor.
C)   the quantity of labor supplied exceeds the quantity of labor demanded.
D)   job search is the primary explanation for the unemployment that is observed.E) All of the above
F) B) and D)

Question 12

Unions are often thought to cause conflict between different groups of workers -- between the insiders who benefit from high union wages and the outsiders who do not get the union jobs.

Accepted Answer

A) True 
 B)False

Question 13

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

Accepted Answer

A)   Miguel, who is on temporary layoff
B)   Reta, who worked only 15 hours last week
C)   Marisa, who neither has a job nor is looking for one
D)   None of the above is correct.E) B) and C)
F) None of the above

Question 14

Table 28-3
2009 Labor Data for Baltivia
 
-Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Accepted Answer

A)   11,000
B)   12,600
C)   13,380
D)   20,000E) A) and D)
F) B) and C)

Question 15

Frictional unemployment is thought to explain relatively

Accepted Answer

A)   short spells of unemployment, as is structural unemployment.
B)   long spells of unemployment, as is structural unemployment.
C)   short spells of unemployment, while structural unemployment is thought to explain relatively long spells of unemployment.
D)   long spells of unemployment, while structural unemployment is thought to explain relatively short spells of unemployment.E) A) and D)
F) C) and D)

Question 16

More than three-fourths of the unemployed are recent entrants into the labor force.

Accepted Answer

A) True 
 B)False

Question 17

Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

Accepted Answer

A) True 
 B)False

Question 18

When a minimum-wage law forces the wage to remain above the equilibrium level, the result is

Accepted Answer

A)   both a shortage of labor and a shortage of jobs.
B)   a shortage of labor and a surplus of jobs.
C)   a surplus of labor and a shortage of jobs.
D)   both surplus of labor and a surplus of jobs.E) None of the above
F) C) and D)

Question 19

Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment.

Accepted Answer

A)   Almost all economists agree that such programs are of no use.
B)   Almost all economists agree that such programs work very well.
C)   Some economists claim that the government can do these things no better than firms and individuals could do them for themselves.
D)   Some economists claim that these programs increase frictional unemployment.E) A) and B)
F) A) and C)

Question 20

Which of the following is correct?

Accepted Answer

A)   In unionized industries, wages are below the level that would prevail in competitive markets.
B)   The introduction of a union in an industry reduces the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and reduces wages in the rest of the economy.
C)   There is a strong consensus among economists that unions are bad for the U.S. economy.
D)   All of the above are correct.E) B) and D)
F) B) and C)

Exam 15: Unemployment

The table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table.

Correct AnswerverifiedShow Answer

If a union and a firm cannot reach an agreement on the terms of employment, then the union can organize a withdrawal of labor from the firm, called a strike.

Correct AnswerverifiedShow Answer

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

Correct AnswerverifiedShow Answer

Suppose that efficiency wages become more common in the economy. Imposing efficiency wages

Correct AnswerverifiedShow Answer

Unions are often thought to cause conflict between different groups of workers -- between the insiders who benefit from high union wages and the outsiders who do not get the union jobs.

Correct AnswerverifiedShow Answer

When the wage is above the equilibrium level,

Correct AnswerverifiedShow Answer

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

Correct AnswerverifiedShow Answer

Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment.

Correct AnswerverifiedShow Answer

If the wage is kept above the equilibrium level for any reason, the result is unemployment.

Correct AnswerverifiedShow Answer

When a minimum-wage law forces the wage to remain above the equilibrium level, the result is

Correct AnswerverifiedShow Answer

Which of the following is correct?

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Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

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Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Correct AnswerverifiedShow Answer

Within the U.S. population, teenagers ages 16-19) have lower rates of labor-force participation than adults of prime working age ages 25-54), regardless of race or gender.

Correct AnswerverifiedShow Answer

Public policy, without intending to do so, can increase frictional unemployment.

Correct AnswerverifiedShow Answer

More than three-fourths of the unemployed are recent entrants into the labor force.

Correct AnswerverifiedShow Answer

Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54) had the highest unemployment rate?

Correct AnswerverifiedShow Answer

Frictional unemployment is thought to explain relatively

Correct AnswerverifiedShow Answer

Table 28-10 The table below lists the number of people by labor force classification for the country of Springfield. -Refer to Table 28-10. Calculate the U-5 unemployment rate.

Correct AnswerverifiedShow Answer

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