Question 1

Figure 15-1 
-Refer to Figure 15-1.If the government imposes a minimum wage of $8,then how many workers will be unemployed?

Accepted Answer

A)   0
B)   3000
C)   4000
D)   7000E) A) and B)
F) A) and C)

Question 2

Suppose some country had an adult population of about 25 million,a labor-force participation rate of 60 percent,and an unemployment rate of 6 percent.How many people were employed?

Accepted Answer

A)   0.9 million
B)   14.1 million
C)   15 million
D)   23.5 millionE) B) and D)
F) A) and D)

Question 3

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the highest unemployment rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) All of the above
F) A) and B)

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

When a union raises the wage above the equilibrium level,it reduces the quantity of labor supplied and raises the quantity of labor demanded,resulting in unemployment.

Accepted Answer

A) True 
 B)False

Question 6

The Bureau of Labor Statistics places people in the "employed" category if they

Accepted Answer

A)   are temporarily absent from their jobs.
B)   are self-employed.
C)   work without pay in a family member's business.
D)   All of the above are correct.E) A) and B)
F) A) and C)

Question 7

If you were told that someone you knew nothing else about had just become unemployed,your best guess would be

Accepted Answer

A)   that they would be unemployed for a long time,and that most of the unemployed they've joined have been unemployed for a long time.
B)   that they would be unemployed for a long time,even though most of the unemployed they've joined have been unemployed for a short time.
C)   that they would be unemployed for a short time,even though most of the unemployed they've joined have been unemployed for a long time.
D)   that they will be unemployed for a short time,and that most of the unemployed they've joined have been unemployed for a short time.E) A) and D)
F) C) and D)

Question 8

Minimum wages create unemployment in markets where they create a

Accepted Answer

A)   shortage of labor.Minimum wage laws are not the predominant reason for unemployment in the U.S.
B)   shortage of labor.Minimum wage laws are the predominant reason for unemployment in the U.S.
C)   surplus of labor.Minimum wage laws are not the predominant reason for unemployment in the U.S.
D)   surplus of labor.Minimum wage laws are the predominant reason for unemployment in the U.S.E) A) and B)
F) A) and C)

Question 9

Collective bargaining refers to

Accepted Answer

A)   the process by which the government sets exemptions from the minimum wage law.
B)   setting the same wage for all employees to prevent conflict among workers.
C)   firms colluding to set the wages of employees below equilibrium.
D)   the process by which unions and firms agree on the terms of employment.E) B) and C)
F) C) and D)

Question 10

Job search

Accepted Answer

A)   is one reason economies always experience some unemployment.
B)   is the process of matching workers with appropriate jobs.
C)   would not be a problem if all workers and all jobs were the same.
D)   All of the above are correct.E) A) and D)
F) B) and C)

Question 11

List the four ways to explain unemployment in the long run.

Accepted Answer

search costs,minimum...

Question 12

Table 15-1
Labor Data for Aridia
 
-Refer to Table 15-1.The labor-force participation rate of Aridia

Accepted Answer

A)   increased from 2010 to 2011 and increased from 2011 to 2012.
B)   increased from 2010 to 2011 and decreased from 2011 to 2012.
C)   decreased from 2010 to 2011 and increased from 2011 to 2012.
D)   decreased from 2010 to 2011 and decreased from 2011 to 2012.E) A) and D)
F) A) and B)

Question 13

Who would be included in the labor force?

Accepted Answer

A)   Homer,who is waiting for his new job to start
B)   Michelle,who has become discouraged looking for a job and has quit looking
C)   Derrick,an unpaid homemaker
D)   None of the above would be included in the labor force.E) A) and B)
F) B) and D)

Question 14

Suppose that telemarketers are not unionized.If they unionize,then the supply of labor in other sectors of the economy will

Accepted Answer

A)   decrease,raising wages in industries that are not unionized.
B)   decrease,reducing wages in industries that are not unionized.
C)   increase,raising wages in industries that are not unionized.
D)   increase,reducing wages in industries that are not unionized.E) A) and B)
F) A) and C)

Question 15

Some long-run unemployment may be explained by the fact that the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one.

Accepted Answer

A) True 
 B)False

Question 16

The labor-force participation rate equals the percentage of the labor force that is either employed or unemployed.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is correct?

Accepted Answer

A)   The labor-force participation rate of women has increased in part due to smaller families.
B)   The labor-force participation rate of men has decreased in part due to men retiring younger and living longer.
C)   Both a and b are correct.
D)   None of the above is correct.E) A) and B)
F) A) and C)

Question 18

In June 2009 the BLS reported a U.S.foreign-born population of 35.3 million.Of these,22.7 million were employed and 1.4 million were unemployed.Based on these numbers what were the unemployment rate and the labor-force participation rate of the foreign-born U.S.population?

Accepted Answer

A)   1.4/35.3 and 22.7/35.3
B)   1.4/35.3 and 24.1/35.3
C)   1.4/24.1 and 22.7/24.1
D)   None of the above are correct.E) A) and B)
F) A) and C)

Question 19

When a union bargains successfully with employers,in that industry,

Accepted Answer

A)   wages and unemployment increase.
B)   wages increase and unemployment decreases.
C)   wages decrease and unemployment increases.
D)   wages and unemployment decrease.E) None of the above
F) B) and C)

Question 20

Refer to Scenario 28-1.What is the labor-force participation rate?

Accepted Answer

A)   83.3%
B)   86.7%
C)   93.3%
D)   96.7%E) B) and C)
F) None of the above

Exam 28: Unemployment

Who would be included in the labor force?

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Refer to Scenario 28-1.What is the labor-force participation rate?

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The Bureau of Labor Statistics places people in the "employed" category if they

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List the four ways to explain unemployment in the long run.

Correct Answerverifiedsearch costs,minimum...View AnswerShow Answer

Table 15-1 Labor Data for Aridia -Refer to Table 15-1.The labor-force participation rate of Aridia

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Minimum wages create unemployment in markets where they create a

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In June 2009 the BLS reported a U.S.foreign-born population of 35.3 million.Of these,22.7 million were employed and 1.4 million were unemployed.Based on these numbers what were the unemployment rate and the labor-force participation rate of the foreign-born U.S.population?

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Some long-run unemployment may be explained by the fact that the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one.

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The labor-force participation rate equals the percentage of the labor force that is either employed or unemployed.

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Which of the following is correct?

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When a union bargains successfully with employers,in that industry,

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Suppose some country had an adult population of about 25 million,a labor-force participation rate of 60 percent,and an unemployment rate of 6 percent.How many people were employed?

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Suppose that telemarketers are not unionized.If they unionize,then the supply of labor in other sectors of the economy will

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Collective bargaining refers to

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When a union raises the wage above the equilibrium level,it reduces the quantity of labor supplied and raises the quantity of labor demanded,resulting in unemployment.

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If you were told that someone you knew nothing else about had just become unemployed,your best guess would be

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Job search

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According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the highest unemployment rate?

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

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Figure 15-1 -Refer to Figure 15-1.If the government imposes a minimum wage of $8,then how many workers will be unemployed?

Correct AnswerverifiedShow Answer

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