Question 1

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 2

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Accepted Answer

A)   rise. The supply of workers in other similar professions will also rise.
B)   rise. The supply of workers in other similar professions will fall.
C)   fall. The supply of workers in other similar professions will rise.
D)   fall. The supply of workers in other similar professions will also fall.E) B) and C)
F) A) and D)

Question 3

Unemployment insurance tends to

Accepted Answer

A)   decrease structural unemployment.
B)   decrease cyclical unemployment.
C)   increase frictional unemployment.
D)   increase the number of discouraged workers.E) A) and D)
F) A) and C)

Question 4

Government-run employment agencies and public training programs both seek to reduce frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 5

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job- market related reason for not currently looking for a job.

Accepted Answer

A) True 
 B)False

Question 6

Right-to-work laws allow striking union members to be permanently replaced.

Accepted Answer

A) True 
 B)False

Question 7

Economists have found that union workers earn about 30 to 40 percent more than similar workers who do not belong to unions.

Accepted Answer

A) True 
 B)False

Question 8

What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages.

Accepted Answer

According to the theory of efficiency wa...

Question 9

Table 28-3
2009 Labor Data for Baltivia 
-Refer to Table 28-3. What was Baltivia's unemployment rate in 2009?
A)  12.7%

Accepted Answer

A)   8.0%
B)   15.9%
C)   22.1%D) None of the above
E) B) and C)

Question 10

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

Accepted Answer

A)   an increase in the natural rate of unemployment.
B)   a decrease in the natural rate of unemployment.
C)   frictional unemployment.
D)   efficiency wages.E) B) and C)
F) C) and D)

Question 11

Measuring unemployment is the job of the

Accepted Answer

A)   Congressional Budget Office.
B)   Department of Commerce.
C)   Council of Economic Advisers.
D)   Bureau of Labor Statistics.E) C) and D)
F) A) and B)

Question 12

Which of the following do unions not cause?

Accepted Answer

A)   frictional unemployment
B)   the wage to rise above the equilibrium level
C)   conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs
D)   reduced wages in industries without unionsE) A) and B)
F) B) and D)

Question 13

Most spells of unemployment are short, and most unemployment observed at any given time is short-term.

Accepted Answer

A) True 
 B)False

Question 14

Table 28-11
2010 Labor Data for Tajnia 
-Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Accepted Answer

A) True 
 B)False

Question 15

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

Accepted Answer

A)   monthly survey of about 60,000 households.
B)   monthly survey of about 6,000 households.
C)   weekly survey of about 60,000 households.
D)   weekly survey of about 6,000 households.E) B) and C)
F) B) and D)

Question 16

Someone who has a job but is absent from work because she is on vacation is counted as "employed."

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is correct?

Accepted Answer

A)   There is consensus among economists that unions are good for the economy.
B)   There is consensus among economists that unions are bad for the economy.
C)   There is consensus among economists that, on net, unions have almost no impact on macroeconomic variables.
D)   There is no consensus among economists about whether unions are good or bad for the economy.E) B) and C)
F) A) and D)

Question 18

Which of the following is an explanation for the existence of frictional unemployment?

Accepted Answer

A)   efficiency wages
B)   minimum-wage laws
C)   unions
D)   job searchE) B) and C)
F) None of the above

Question 19

Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 20

Rafael is the newly­appointed plant manager for a company that manufactures head phones. Rafael's senior supervisors told him that the output the firm produces, given the number of workers employed, indicates that some workers may be shirking. According to efficiency wage theory, what should he do?

Accepted Answer

A)   pay all workers more than the equilibrium wage rate
B)   pay all workers below the equilibrium wage rate to make up for the loss from shirking
C)   make sure that workers are getting paid exactly the equilibrium wage rate
D)   fire the workers with the most seniorityE) A) and C)
F) A) and B)

Exam 28: Unemployment

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job- market related reason for not currently looking for a job.

Correct AnswerverifiedShow Answer

Most spells of unemployment are short, and most unemployment observed at any given time is short-term.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Economists have found that union workers earn about 30 to 40 percent more than similar workers who do not belong to unions.

Correct AnswerverifiedShow Answer

Government-run employment agencies and public training programs both seek to reduce frictional unemployment.

Correct AnswerverifiedShow Answer

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Correct AnswerverifiedShow Answer

Which of the following is an explanation for the existence of frictional unemployment?

Correct AnswerverifiedShow Answer

Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Which of the following do unions not cause?

Correct AnswerverifiedShow Answer

Unemployment insurance tends to

Correct AnswerverifiedShow Answer

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

Correct AnswerverifiedShow Answer

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's unemployment rate in 2009? A) 12.7%

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Correct AnswerverifiedShow Answer

Right-to-work laws allow striking union members to be permanently replaced.

Correct AnswerverifiedShow Answer

Someone who has a job but is absent from work because she is on vacation is counted as "employed."

Correct AnswerverifiedShow Answer

Measuring unemployment is the job of the

Correct AnswerverifiedShow Answer

What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages.

Correct AnswerverifiedAccording to the theory of efficiency wa...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
According to the theory of efficiency wa...
View Answer