Question 1

Unions contribute to

Accepted Answer

A)   frictional unemployment but not the natural rate of unemployment.
B)   the natural rate of unemployment but not frictional unemployment.
C)   both frictional unemployment and the natural rate of unemployment.
D)   neither frictional unemployment nor the natural rate of unemployment.E) B) and D)
F) C) and D)

Question 2

Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   Tina, who worked most of the week in a steel factory
B)   Kelly, who is temporarily laid off but expects to be recalled
C)   DJ, who does not have a job but is looking for work
D)   All of the above are correct.E) All of the above
F) A) and B)

Question 3

Which of the following is not a commonly-cited explanation for the dramatically increasing labor-force participation rates for women from 1950 to the present?

Accepted Answer

A)   availability of reliable birth control
B)   invention of household labor-saving devices such as dishwashers and microwave ovens
C)   an increasing number of women who work to support their parents
D)   changing social attitudes about working mothersE) C) and D)
F) A) and D)

Question 4

Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision

Accepted Answer

A)   might increase profits if it attracts a better pool of workers to apply for jobs at his restaurant.
B)   will reduce the excess supply of labor.
C)   is an example of the benefits of a minimum-wage law.
D)   All of the above are correct.E) B) and C)
F) A) and B)

Question 5

Figure 28-4 
-Refer to Figure 28-4. If the government imposes a minimum wage of $3, how many workers will be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   4,000
D)   6,000E) B) and C)
F) B) and D)

Question 6

Wanda quit her job because she was unhappy at work. Arnold was fired from his landscaping job because his company was downsizing. Who is eligible for unemployment insurance benefits?

Accepted Answer

A)   both Wanda and Arnold
B)   Wanda but not Arnold
C)   Arnold but not Wanda
D)   neither Wanda nor ArnoldE) B) and C)
F) A) and D)

Question 7

One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is correct?

Accepted Answer

A)   In unionized industries, wages are above the level that would prevail in competitive markets.
B)   The introduction of a union in some industry reduces the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and reduces wages in the rest of the economy.
C)   Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
D)   All of the above are correct.E) None of the above
F) B) and D)

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

One reason economies always experience some unemployment is job search.

Accepted Answer

A) True 
 B)False

Question 11

The unemployment that results from the process of matching workers and jobs is called frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 12

Table 28-3
2009 Labor Data for Baltivia
 
-Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Accepted Answer

A)   11,000
B)   12,600
C)   13,380
D)   20,000E) All of the above
F) B) and D)

Question 13

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Japanese adult non- institutionalized population was 110.272 million, the labor force was 65.362 million, and the number of people employed was 62.242 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about

Accepted Answer

A)   56.4% and 2.8%.
B)   56.4% and 4.8%.
C)   59.3% and 2.8%.
D)   59.3% and 4.8%.E) B) and C)
F) C) and D)

Question 14

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2010 was

Accepted Answer

A)   200.
B)   400.
C)   600.
D)   1,800.E) B) and D)
F) B) and C)

Question 15

Efficiency wages create a labor

Accepted Answer

A)   surplus and so increase unemployment.
B)   surplus and so decrease unemployment.
C)   shortage and so increase unemployment.
D)   shortage and so decrease unemployment.E) A) and B)
F) A) and C)

Question 16

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19)  had the lowest unemployment rate?

Accepted Answer

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

Question 17

Which of the following is not correct?

Accepted Answer

A)   An organized withdrawal of labor from a firm by a union is called a strike.
B)   The power of a union comes from its ability to strike if the union and the firm do not agree on the terms of employment.
C)   Economists who study the effects of unions typically find that union workers earn about 25 to 35 percent more than similar workers who do not belong to unions.
D)   Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.E) C) and D)
F) A) and B)

Question 18

Suppose that because of the popularity of the low-carb diet, bakeries need fewer workers and steak houses need more workers. The unemployment created by this change is

Accepted Answer

A)   frictional unemployment created by efficiency wages.
B)   frictional unemployment created by sectoral shifts.
C)   structural unemployment created by efficiency wages.
D)   structural unemployment created by sectoral shifts.E) A) and D)
F) All of the above

Question 19

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19)  had the highest labor-force participation rate?

Accepted Answer

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

Question 20

Unemployment insurance causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.

Accepted Answer

A) True 
 B)False

Exam 10: Unemployment and Its Natural Rate

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $3, how many workers will be unemployed?

Correct Answer
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Correct Answer
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Who is included in the labor force by the Bureau of Labor Statistics?

Correct Answer
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Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision

Correct Answer
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Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2010 was

Correct Answer
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Unemployment insurance causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.

Correct Answer
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According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the lowest unemployment rate?

Correct Answer
verified

Efficiency wages create a labor

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

Correct Answer
verified

Unions contribute to

Correct Answer
verified

The unemployment that results from the process of matching workers and jobs is called frictional unemployment.

Correct Answer
verified

Suppose that because of the popularity of the low-carb diet, bakeries need fewer workers and steak houses need more workers. The unemployment created by this change is

Correct Answer
verified

Wanda quit her job because she was unhappy at work. Arnold was fired from his landscaping job because his company was downsizing. Who is eligible for unemployment insurance benefits?

Correct Answer
verified

Which of the following is not a commonly-cited explanation for the dramatically increasing labor-force participation rates for women from 1950 to the present?

Correct Answer
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Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Correct Answer
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One reason economies always experience some unemployment is job search.

Correct Answer
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According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the highest labor-force participation rate?

Correct Answer
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Which of the following is correct?

Correct Answer
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Which of the following is not correct?

Correct Answer
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One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

Correct Answer
verified

Exam 10: Unemployment and Its Natural Rate

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $3, how many workers will be unemployed?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Who is included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2010 was

Correct AnswerverifiedShow Answer

Unemployment insurance causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the lowest unemployment rate?

Correct AnswerverifiedShow Answer

Efficiency wages create a labor

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Unions contribute to

Correct AnswerverifiedShow Answer

The unemployment that results from the process of matching workers and jobs is called frictional unemployment.

Correct AnswerverifiedShow Answer

Suppose that because of the popularity of the low-carb diet, bakeries need fewer workers and steak houses need more workers. The unemployment created by this change is

Correct AnswerverifiedShow Answer

Wanda quit her job because she was unhappy at work. Arnold was fired from his landscaping job because his company was downsizing. Who is eligible for unemployment insurance benefits?

Correct AnswerverifiedShow Answer

Which of the following is not a commonly-cited explanation for the dramatically increasing labor-force participation rates for women from 1950 to the present?

Correct AnswerverifiedShow Answer

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Correct AnswerverifiedShow Answer

One reason economies always experience some unemployment is job search.

Correct AnswerverifiedShow Answer

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the highest labor-force participation rate?

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Which of the following is not correct?

Correct AnswerverifiedShow Answer

One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

Correct AnswerverifiedShow Answer

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