Question 1

The Bureau of Labor Statistics produces data on unemployment

Accepted Answer

A)   weekly.
B)   monthly.
C)   quarterly.
D)   yearly.E) A) and B)
F) A) and C)

Question 2

Which of the following is correct?

Accepted Answer

A)   Nearly all economists believe that unions are bad for the economy as a whole.
B)   Unionized firms pay wages above the competitive equilibrium level.
C)   Unions increase the level of employment in unionized firms.
D)   Unions decrease the level of employment in firms without unions.E) A) and C)
F) None of the above

Question 3

Figure 28-7 
-Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Accepted Answer

The answer of Figure 28-7 
-Refer to Figure 28-7. At...

Question 4

Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions. Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use.

Accepted Answer

A)   Bob and Tom are both frictionally unemployed.
B)   Bob and Tom are both structurally unemployed.
C)   Bob is frictionally unemployed, and Tom is structurally unemployed.
D)   Bob is structurally unemployed, and Tom is frictionally unemployed.E) A) and C)
F) None of the above

Question 5

According to 2012 data on the U.S. population, which of the following groups of teenagers (ages 16-19)  had the lowest unemployment rate?

Accepted Answer

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

Question 6

Unemployment insurance reduces the incentive for the unemployed to find and take new jobs.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

About what percentage of jobs are destroyed every year, and about what percentage of workers leave their jobs in a typical month?

Accepted Answer

A)   1% and 5%
B)   5% and 1%
C)   3% and 10%
D)   10% and 3%E) A) and C)
F) C) and D)

Question 9

Efficiency wages

Accepted Answer

A)   increase productivity and reduce unemployment.
B)   increase productivity but increase unemployment.
C)   decrease productivity but reduce unemployment.
D)   decrease productivity and increase unemployment.E) All of the above
F) A) and D)

Question 10

The Bureau of Labor Statistics' U­1 measure of joblessness is larger than its U­6 measure of joblessness.

Accepted Answer

A) True 
 B)False

Question 11

Cyclical unemployment

Accepted Answer

A)   has a different explanation than does the natural rate of unemployment.
B)   refers to the year­to­year fluctuation in unemployment around an economy's natural rate of unemployment.
C)   is closely associated with short-run ups and downs of economic activity.
D)   All of the above are correct.E) None of the above
F) All of the above

Question 12

The theory of efficiency wages provides a possible explanation as to why

Accepted Answer

A)   workers form unions.
B)   firms should try to reduce surpluses of labor.
C)   firms may be inclined to keep their workers' wages above the equilibrium level.
D)   firms may be inclined to keep their workers' wages below the equilibrium level.E) B) and D)
F) A) and B)

Question 13

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Accepted Answer

A) True 
 B)False

Question 14

Data on the unemployment rate in the U.S. since 1960 show that the economy always has some unemployment and that the amount changes from year to year.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is not one of the categories into which the Bureau of Labor Statistics places each adult of each surveyed household?

Accepted Answer

A)   employed
B)   unemployed
C)   underemployed
D)   not in the labor forceE) A) and B)
F) A) and C)

Question 16

Some degree of unemployment is in a complex economy.

Accepted Answer

The answer of Some degree of unemployment is in a...

Question 17

Public policy can reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 18

In the town of Gotham the adult population is 560 thousand, the number unemployed is 25 thousand, and 185 thousand are not in the labor force. Calculate the unemployment rate.

Accepted Answer

The answer of In the town of Gotham the adult...

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Correct Answer
verified

Data on the unemployment rate in the U.S. since 1960 show that the economy always has some unemployment and that the amount changes from year to year.

Correct Answer
verified

Figure 28-7 -Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Correct Answer
verified

Efficiency wages

Correct Answer
verified

Unemployment insurance reduces the incentive for the unemployed to find and take new jobs.

Correct Answer
verified

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Correct Answer
verified

The theory of efficiency wages provides a possible explanation as to why

Correct Answer
verified

According to 2012 data on the U.S. population, which of the following groups of teenagers (ages 16-19) had the lowest unemployment rate?

Correct Answer
verified

The Bureau of Labor Statistics' U1 measure of joblessness is larger than its U6 measure of joblessness.

Correct Answer
verified

Cyclical unemployment

Correct Answer
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The Bureau of Labor Statistics produces data on unemployment

Correct Answer
verified

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

Correct Answer
verified

Which of the following is not one of the categories into which the Bureau of Labor Statistics places each adult of each surveyed household?

Correct Answer
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Correct Answer
verified

Some degree of unemployment is in a complex economy.

Correct Answer
verified

About what percentage of jobs are destroyed every year, and about what percentage of workers leave their jobs in a typical month?

Correct Answer
verified

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

Correct Answer
verified

Which of the following is correct?

Correct Answer
verified

In the town of Gotham the adult population is 560 thousand, the number unemployed is 25 thousand, and 185 thousand are not in the labor force. Calculate the unemployment rate.

Correct Answer
verified

Public policy can reduce the economy's natural rate of unemployment.

Correct Answer
verified

Exam 28: Unemployment

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Correct AnswerverifiedShow Answer

Data on the unemployment rate in the U.S. since 1960 show that the economy always has some unemployment and that the amount changes from year to year.

Correct AnswerverifiedShow Answer

Figure 28-7 -Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Correct AnswerverifiedShow Answer

Efficiency wages

Correct AnswerverifiedShow Answer

Unemployment insurance reduces the incentive for the unemployed to find and take new jobs.

Correct AnswerverifiedShow Answer

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Correct AnswerverifiedShow Answer

The theory of efficiency wages provides a possible explanation as to why

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following groups of teenagers (ages 16-19) had the lowest unemployment rate?

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' U­1 measure of joblessness is larger than its U­6 measure of joblessness.

Correct AnswerverifiedShow Answer

Cyclical unemployment

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is not one of the categories into which the Bureau of Labor Statistics places each adult of each surveyed household?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Some degree of unemployment is in a complex economy.

Correct AnswerverifiedShow Answer

About what percentage of jobs are destroyed every year, and about what percentage of workers leave their jobs in a typical month?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

In the town of Gotham the adult population is 560 thousand, the number unemployed is 25 thousand, and 185 thousand are not in the labor force. Calculate the unemployment rate.

Correct AnswerverifiedShow Answer

Public policy can reduce the economy's natural rate of unemployment.

Correct AnswerverifiedShow Answer

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Correct Answer
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The Bureau of Labor Statistics' U1 measure of joblessness is larger than its U6 measure of joblessness.

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
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