Question 1

The natural rate of unemployment

Accepted Answer

A)   arises from a single problem that has a single solution.
B)   is easy for policymakers to reduce.
C)   Both a and b are correct.
D)   None of the above is correct.E) A) and B)
F) All of the above

Question 2

Causes of the changing role of women in American society over the past several decades include new technologies that have reduced the amount of time required to complete routine household tasks, improved birth control, and changing political and social attitudes.

Accepted Answer

A) True 
 B)False

Question 3

Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was about 5.5 percent.

Accepted Answer

A) True 
 B)False

Question 4

Long-run unemployment arises from a single problem that has a single solution.

Accepted Answer

A) True 
 B)False

Question 5

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

Accepted Answer

A) True 
 B)False

Question 6

Most U.S. workers have wages well above the legal minimum, so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Within the U.S. population, blacks of prime working age (ages 25-54) have similar rates of unemployment than whites of prime working age (ages 25-54), regardless of gender.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

Economists disagree. Critics argue that ...

Question 10

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Accepted Answer

A) True 
 B)False

Question 11

The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate.

Accepted Answer

A) True 
 B)False

Question 12

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

Wages bein...

Question 14

In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced

Accepted Answer

A)   both structural unemployment and the natural rate of unemployment.
B)   structural unemployment but not the natural rate of unemployment.
C)   both frictional unemployment and the natural rate of unemployment.
D)   frictional unemployment but not the natural rate of unemployment.E) A) and C)
F) B) and C)

Question 15

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Accepted Answer

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

Question 16

Marginally attached workers are people who are

Accepted Answer

A)   looking for a better job than they currently have.
B)   not working and are not looking for work, but would work if asked.
C)   working part-time while they go to school or get training for a better job.
D)   only a few years from retirement.E) C) and D)
F) A) and B)

Question 17

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 B)
F) A) and C)

Question 18

How are discouraged workers counted in the unemployment rate?

Accepted Answer

Because discouraged workers ar...

Question 19

Unemployment insurance the amount of unemployment.

Accepted Answer

The answer of Unemployment insurance the amount of unemployment....

Question 20

Minimum-wage laws are one reason there is always some unemployment in the U.S. economy.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

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

Correct AnswerverifiedEconomists disagree. Critics argue that ...View AnswerShow Answer

In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced

Correct AnswerverifiedShow Answer

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Correct AnswerverifiedShow Answer

Most U.S. workers have wages well above the legal minimum, so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

Correct AnswerverifiedShow Answer

Within the U.S. population, blacks of prime working age (ages 25-54) have similar rates of unemployment than whites of prime working age (ages 25-54), regardless of gender.

Correct AnswerverifiedShow Answer

Causes of the changing role of women in American society over the past several decades include new technologies that have reduced the amount of time required to complete routine household tasks, improved birth control, and changing political and social attitudes.

Correct AnswerverifiedShow Answer

The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate.

Correct AnswerverifiedShow Answer

How are discouraged workers counted in the unemployment rate?

Correct AnswerverifiedBecause discouraged workers ar...View AnswerShow Answer

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Marginally attached workers are people who are

Correct AnswerverifiedShow Answer

Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was about 5.5 percent.

Correct AnswerverifiedShow Answer

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

Correct AnswerverifiedShow Answer

Minimum-wage laws are one reason there is always some unemployment in the U.S. economy.

Correct AnswerverifiedShow Answer

Unemployment insurance the amount of unemployment.

Correct AnswerverifiedShow Answer

Long-run unemployment arises from a single problem that has a single solution.

Correct AnswerverifiedShow Answer

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Correct AnswerverifiedShow Answer

The natural rate of unemployment

Correct AnswerverifiedShow Answer

The National Labor Relations Board

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedWages bein...View AnswerShow Answer

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Economists disagree. Critics argue that ...
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Because discouraged workers ar...
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Wages bein...
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