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Exam 28: Unemployment

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Question 181

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If the natural rate of unemployment is 5.2 percent and the actual rate of unemployment is 5.7 percent,then by definition there is

A) cyclical unemployment amounting to 0.5 percent of the labor force.
B) frictional unemployment amounting to 0.5 percent of the labor force.
C) structural unemployment amounting to 0.5 percent of the labor force.
D) search unemployment amounting to 0.5 percent of the labor force.

E) A) and D)
F) B) and C)

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Question 182

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Structural unemployment results when wages are,for some reason,set above the level that brings supply and demand into equilibrium.

A) True
B) False

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Question 183

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

When a minimum-wage law forces the wage to remain above the level that balances supply and demand,the quantity of labor supplied is higher and the quantity demanded of labor is lower than at the equilibrium wage.

According to 2009 data on the U.S.population,which of the following groups of adults (ages 20 and older) had the highest unemployment rate?

How does the government measure the economy's rate of unemployment?

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

Adults who are waiting to be recalled to a job from which they had been laid off are counted as unemployed.

Suppose some country had an adult population of about 46 million,a labor-force participation rate of 75 percent,and an unemployment rate of 8 percent.How many people were employed?

The introduction of a union into an industry

Which of the following is correct?

Measuring unemployment is the job of the Bureau of Labor Statistics,which is part of the U.S.Department of Commerce.

When job search is the explanation for unemployment,workers are searching for the jobs that best suit their tastes and skills,but when the wage is above the equilibrium level,the quantity of labor supplied exceeds the quantity of labor demanded,and workers are unemployed because they are waiting for jobs to open up.

According to 2009 data on the U.S.population which of the following was correct for people ages 20 and over?

Sample Population -Refer to Sample Population.How many in the sample are unemployed?

Right-to-work laws give workers in a unionized firm the right to choose whether to join the union.

The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity.

The Bureau of Labor Statistics' "employed" category includes those who worked as paid employees,worked in their own business,or worked as unpaid workers in a family member's business.

The labor-force participation rate measures the percentage of the

Brian is the owner of a firm that produces bottled water in Washington state.There are many other such firms in the area.Brian decides that if he pays his workers a wage higher than the going market wage,his profits will increase.Which of the following is a likely explanation for his decision?