Question 1

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54)  had the highest unemployment rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) A) and B)
F) None of the above

Question 2

The normal rate of unemployment around which the unemployment rate fluctuates is called cyclical unemployment.

Accepted Answer

A) True 
 B)False

Question 3

Table 28-7
Below is data about the labor market in the city of Productionville.
 
-Refer to Table 28-7. If the local government imposed a minimum wage of $6 in Productionville, how many people would be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   3,000
D)   5,000E) A) and B)
F) A) and C)

Question 4

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The unemployment rate of Aridia

Accepted Answer

A)   increased both from 2010 to 2011 and from 2011 to 2012.
B)   increased from 2010 to 2011 but decreased from 2011 to 2012.
C)   decreased from 2010 to 2011 but increased from 2011 to 2012.
D)   decreased both from 2010 to 2011 and from 2011 to 2012.E) None of the above
F) A) and B)

Question 5

Table 28-11
2010 Labor Data for Tajnia
 
-Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 40.8 percent.

Accepted Answer

A) True 
 B)False

Question 6

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54)  had the highest labor-force participation rate?

Accepted Answer

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

Question 7

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Accepted Answer

A) True 
 B)False

Question 8

The Bureau of Labor Statistics' U­2 measure of joblessness includes job losers and job leavers.

Accepted Answer

A) True 
 B)False

Question 9

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Accepted Answer

A)   Black males had higher labor-force participation rates and lower unemployment rates compared to white males.
B)   Black males had both higher labor-force participation rates and higher unemployment rates compared to white males.
C)   Black males had both lower labor-force participation rates and lower unemployment rates compared to white males.
D)   Black males had lower labor-force participation rates and higher unemployment rates compared to white males.E) B) and C)
F) A) and D)

Question 10

Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate?

Accepted Answer

A)   6.25%
B)   8.3%
C)   9.1%
D)   18.75%E) None of the above
F) All of the above

Question 11

The main explanation for the lower growth rate for the American economy in the 21st century compared to the previous 250 years is

Accepted Answer

A)   higher minimum wages.
B)   that although Americans are working more, they are more distracted by technology and therefore are less productive at work.
C)   that Americans are working less.
D)   the increasing labor-force participation rates of women with young children.E) B) and C)
F) A) and C)

Question 12

In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced

Accepted Answer

A)   both structural unemployment and the natural rate of unemployment.
B)   structural unemployment but not the natural rate of unemployment.
C)   both frictional unemployment and the natural rate of unemployment.
D)   frictional unemployment but not the natural rate of unemployment.E) All of the above
F) A) and C)

Question 13

Which of the following is not correct?

Accepted Answer

A)   A union is a worker association that bargains with employers over wages, benefits, and working conditions.
B)   Unions play a much larger role in the U.S. labor market now than they did in the past.
C)   Unions play a large role in many European countries.
D)   A union is a type of cartel.E) A) and D)
F) A) and C)

Question 14

Why have labor-force participation rates for women in the United States increased since World War II while labor- force participation rates for men have decreased?

Accepted Answer

Causes of the increase in the U.S. women...

Question 15

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 D)
F) A) and C)

Question 16

Measuring the amount of unemployment in the economy is a straightforward task.

Accepted Answer

A) True 
 B)False

Question 17

Table 28-3
2009 Labor Data for Baltivia
 
-Refer to Table 28-3. How many adults were not in Baltivia's labor force in 2009?

Accepted Answer

A)   4,400
B)   6,620
C)   7,400
D)   8,690E) A) and B)
F) A) and C)

Question 18

A union is a type of cartel.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is among the four industries with the largest employment in the United States today?

Accepted Answer

A)   lumber
B)   men's clothing
C)   communications
D)   cotton goodsE) B) and C)
F) A) and C)

Question 20

Minimum-wage laws

Accepted Answer

A)   create unemployment.
B)   do not apply in states with right-to-work laws.
C)   affect highly-educated workers more than high school dropouts.
D)   cause labor shortages, which further raise wages above equilibrium.E) None of the above
F) A) and D)

Exam 10: Unemployment and Its Natural Rate

Which of the following is among the four industries with the largest employment in the United States today?

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Minimum-wage laws

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Which of the following is not correct?

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The main explanation for the lower growth rate for the American economy in the 21st century compared to the previous 250 years is

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The normal rate of unemployment around which the unemployment rate fluctuates is called cyclical unemployment.

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Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia

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A union is a type of cartel.

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According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54) had the highest labor-force participation rate?

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54) had the highest unemployment rate?

Correct AnswerverifiedShow Answer

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Correct AnswerverifiedShow Answer

Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $6 in Productionville, how many people would be unemployed?

Correct AnswerverifiedShow Answer

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many adults were not in Baltivia's labor force in 2009?

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Measuring the amount of unemployment in the economy is a straightforward task.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

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Why have labor-force participation rates for women in the United States increased since World War II while labor- force participation rates for men have decreased?

Correct AnswerverifiedCauses of the increase in the U.S. women...View AnswerShow 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 40.8 percent.

Correct AnswerverifiedShow Answer

In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' U­2 measure of joblessness includes job losers and job leavers.

Correct AnswerverifiedShow Answer

Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate?

Correct AnswerverifiedShow Answer

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Causes of the increase in the U.S. women...
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The Bureau of Labor Statistics' U2 measure of joblessness includes job losers and job leavers.

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