Question 1

Table 20-4
 
-Refer to Table 20-4.What is the U-3 measure of labor underutilization?

Accepted Answer

A)   4.7 percent
B)   6.2 percent
C)   7.0 percent
D)   10.9 percentE) C) and D)
F) All of the above

Question 2

The Bureau of Labor Statistics reported in 2005 that there were 50.40 million people over age 25 whose highest level of education was some college or an associate degree,33.86 million of whom were employed and 1.27 million of whom were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A)   69.7% and 2.5%
B)   69.7% and 3.6%
C)   67.2% and 2.5%
D)   67.2% and 3.6%E) B) and C)
F) A) and D)

Question 3

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 4

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Accepted Answer

A) True 
 B)False

Question 5

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

Question 6

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 7

The unemployment rate equals the percentage of the adult population that is unemployed.

Accepted Answer

A) True 
 B)False

Question 8

Every week,the Bureau of Labor Statistics produces data on unemployment.

Accepted Answer

A) True 
 B)False

Question 9

Figure 20-1 
-Refer to Figure 20-1.If the government imposes a minimum wage of $4,then unemployment will increase by

Accepted Answer

A)   0 workers.
B)   2000 workers.
C)   4000 workers.
D)   5000 workers.E) C) and D)
F) B) and D)

Question 10

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 11

Unions

Accepted Answer

A)   raise the wages of unionized workers and raise unemployment.
B)   raise the wages of unionized workers and reduce unemployment.
C)   reduce the wages of unionized workers and raise unemployment.
D)   reduce the wages of unionized workers and reduce unemployment.E) A) and B)
F) A) and C)

Question 12

Of the following groups,who is eligible for unemployment insurance benefits?

Accepted Answer

A)   the unemployed who quit their jobs
B)   the unemployed who were laid off because their previous employers no longer needed their skills
C)   the unemployed who were fired for cause
D)   the unemployed who just entered the labor forceE) B) and D)
F) A) and B)

Question 13

Sectoral shifts contribute to structural unemployment.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A)   5
B)   4
C)   3
D)   None of the above is correct.E) B) and D)
F) A) and D)

Question 15

Meredith is looking for work as a computer programmer.Although her prospects are good,she hasn't yet taken a job.Julie is looking for work in a steel mill.Every time she shows up for an interview,there are more people looking for work than their are openings.Someone waiting in line with her tells her it has been that way for a long time.

Accepted Answer

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

Question 16

The Wagner Act of 1935

Accepted Answer

A)   prevents unions from acting as cartels.
B)   allows workers joining a unionized firm to choose not to join the union.
C)   prevents employers from interfering when workers try to organize a union.
D)   prevents firms from hiring permanent replacements for workers who are on strike.E) A) and C)
F) C) and D)

Question 17

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 18

Figure 20-1 
-Refer to Figure 20-1.If the government imposes a minimum wage of $8,then unemployment will increase by

Accepted Answer

A)   0 workers.
B)   2000 workers.
C)   4000 workers.
D)   7000 workers.E) None of the above
F) A) and B)

Question 19

Job search

Accepted Answer

A)   and firms paying wages above equilibrium to improve worker health both create frictional unemployment.
B)   creates frictional unemployment,while firms paying wages above equilibrium to improve worker health creates structural unemployment.
C)   creates structural unemployment,while firms paying wages above equilibrium to improve worker health creates frictional unemployment.
D)   and firms paying wages above equilibrium to improve worker health both create structural unemployment.E) A) and B)
F) None of the above

Question 20

Figure 20-1 
-Refer to Figure 20-1.If the government imposes a minimum wage of $4,then employment will decrease by

Accepted Answer

A)   0 workers.
B)   2000 workers.
C)   3000 workers.
D)   4000 workers.E) B) and C)
F) B) and D)

Exam 20: Unemployment

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Correct Answer
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Correct Answer
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Table 20-4 -Refer to Table 20-4.What is the U-3 measure of labor underutilization?

Correct Answer
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Figure 20-1 -Refer to Figure 20-1.If the government imposes a minimum wage of $8,then unemployment will increase by

Correct Answer
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Job search

Correct Answer
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Figure 20-1 -Refer to Figure 20-1.If the government imposes a minimum wage of $4,then employment will decrease by

Correct Answer
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Every week,the Bureau of Labor Statistics produces data on unemployment.

Correct Answer
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Of the following groups,who is eligible for unemployment insurance benefits?

Correct Answer
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Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Correct Answer
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The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Correct Answer
verified

The unemployment rate equals the percentage of the adult population that is unemployed.

Correct Answer
verified

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

Correct Answer
verified

Figure 20-1 -Refer to Figure 20-1.If the government imposes a minimum wage of $4,then unemployment will increase by

Correct Answer
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Sectoral shifts contribute to structural unemployment.

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

Correct Answer
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Unions

Correct Answer
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The Wagner Act of 1935

Correct Answer
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Correct Answer
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If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no frictional unemployment.

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

Correct Answer
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Exam 20: Unemployment

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

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Table 20-4 -Refer to Table 20-4.What is the U-3 measure of labor underutilization?

Correct AnswerverifiedShow Answer

Figure 20-1 -Refer to Figure 20-1.If the government imposes a minimum wage of $8,then unemployment will increase by

Correct AnswerverifiedShow Answer

Job search

Correct AnswerverifiedShow Answer

Figure 20-1 -Refer to Figure 20-1.If the government imposes a minimum wage of $4,then employment will decrease by

Correct AnswerverifiedShow Answer

Every week,the Bureau of Labor Statistics produces data on unemployment.

Correct AnswerverifiedShow Answer

Of the following groups,who is eligible for unemployment insurance benefits?

Correct AnswerverifiedShow Answer

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Correct AnswerverifiedShow Answer

The unemployment rate equals the percentage of the adult population that is unemployed.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 20-1 -Refer to Figure 20-1.If the government imposes a minimum wage of $4,then unemployment will increase by

Correct AnswerverifiedShow Answer

Sectoral shifts contribute to structural unemployment.

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

Unions

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The Wagner Act of 1935

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Correct AnswerverifiedShow Answer

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no frictional unemployment.

Correct AnswerverifiedShow Answer

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

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