Question 1

Unemployment insurance tends to

Accepted Answer

A)   decrease structural unemployment.
B)   decrease cyclical unemployment.
C)   increase frictional unemployment.
D)   increase the number of discouraged workers.E) None of the above
F) B) and C)

Question 2

Economists would predict that, other things the same, the more generous unemployment compensation a country has, the

Accepted Answer

A)   shorter the duration of each spell of unemployment and the higher the unemployment rate.
B)   shorter the duration of each spell of unemployment and the lower the unemployment rate.
C)   longer the duration of each spell of unemployment and the higher the unemployment rate.
D)   longer the duration of each spell of unemployment and the lower the unemployment rate.E) B) and C)
F) A) and B)

Question 3

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Accepted Answer

A) True 
 B)False

Question 4

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) None of the above
F) A) and B)

Question 5

Most spells of unemployment are

Accepted Answer

A)   long, and most unemployment observed at any given time is long term.
B)   long, but most unemployment observed at any given time is short term.
C)   short, but most unemployment observed at any given time is long term.
D)   short, and most unemployment observed at any given time is short term.E) A) and B)
F) A) and C)

Question 6

Wages in excess of their equilibrium level help explain

Accepted Answer

A)   frictional but not structural unemployment.
B)   structural but not frictional unemployment.
C)   both frictional and structural unemployment.
D)   neither frictional nor structural unemployment.E) None of the above
F) All of the above

Question 7

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 8

Frictional unemployment is

Accepted Answer

A)   not inevitable; rather, it can be reduced to zero by well-designed public policies.
B)   not inevitable; rather, it could be reduced to zero if by the elimination of unemployment insurance.
C)   inevitable, because at any given time, jobs are being created in some firms and destroyed in other firms.
D)   inevitable, because in some industries, wages are always set above the level that brings supply and demand into equilibrium.E) None of the above
F) A) and B)

Question 9

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

Accepted Answer

A)   an increase in the natural rate of unemployment.
B)   a decrease in the natural rate of unemployment.
C)   frictional unemployment.
D)   efficiency wages.E) B) and C)
F) A) and C)

Question 10

Table 28-4
2010 Labor Data for Adults ages 16 and older)  in Meditor
 
-Refer to Table 28-4. What is the adult labor force in Meditor?

Accepted Answer

A)   90 million
B)   150 million
C)   160 million
D)   230 millionE) B) and D)
F) None of the above

Question 11

Structural unemployment results when the number of jobs is insufficient for the number of workers.

Accepted Answer

A) True 
 B)False

Question 12

Teenage unemployment is higher than unemployment of people ages 20 and over. Explain why economists would attribute at least part of this difference to minimum-wage laws.

Accepted Answer

People who are experienced and educated ...

Question 13

Discouraged workers are included in

Accepted Answer

A)   the number of unemployed.
B)   frictional unemployment.
C)   the labor force.
D)   None of the above is correct.E) None of the above
F) B) and D)

Question 14

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Swedish adult non- institutionalized population was 7.568 million, the labor force was 4.888 million, and the number of people employed was 4.486 million. According to these numbers, the Swedish labor-force participation rate and unemployment rate were about

Accepted Answer

A)   64.6% and 8.2%.
B)   64.6% and 5.3%.
C)   59.3% and 8.2%.
D)   59.3% and 5.3%.E) B) and D)
F) A) and B)

Question 15

Figure 28-7 
-Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Accepted Answer

The answer of Figure 28-7 
-Refer to Figure 28-7. At...

Question 16

Within the U.S. population, teenagers ages 16-19 have similar rates of labor-force participation than adults of prime working age ages 25-54, regardless of race or gender.

Accepted Answer

A) True 
 B)False

Question 17

Who is not included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   Anita, who is on temporary layoff
B)   Lauren, who has retired and is not looking for work
C)   Raymond, who does not have a job but has applied for several in the last week
D)   None of the above is correct.E) A) and B)
F) A) and C)

Question 18

Frictional unemployment results from

Accepted Answer

A)   job searching. It is often thought to explain relatively short spells of unemployment.
B)   job searching. It is often thought to explain relatively long spells of unemployment
C)   a surplus in the some labor markets. It is often thought to explain relatively short spells of unemployment.
D)   a surplus in some labor markets. It is often thought to explain relatively long spells of unemployment.E) All of the above
F) C) and D)

Question 19

The labor-force participation rate tells us the fraction of the population that

Accepted Answer

A)   is able to participate in the labor market.
B)   has ever been employed.
C)   has chosen to participate in the labor market.
D)   has chosen not to participate in the labor market.E) All of the above
F) A) and B)

Question 20

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

Unemployment insurance tends to

Correct Answer
verified

Figure 28-7 -Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Correct Answer
verified

Discouraged workers are included in

Correct Answer
verified

Structural unemployment results when the number of jobs is insufficient for the number of workers.

Correct Answer
verified

Economists would predict that, other things the same, the more generous unemployment compensation a country has, the

Correct Answer
verified

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Correct Answer
verified

Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult labor force in Meditor?

Correct Answer
verified

Frictional unemployment results from

Correct Answer
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The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Correct Answer
verified

The labor-force participation rate tells us the fraction of the population that

Correct Answer
verified

Correct Answer
verified

Minimum wages create unemployment in markets where they create a

Correct Answer
verified

Wages in excess of their equilibrium level help explain

Correct Answer
verified

Who is not included in the labor force by the Bureau of Labor Statistics?

Correct Answer
verified

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

Correct Answer
verified

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment.

Correct Answer
verified

Frictional unemployment is

Correct Answer
verified

Teenage unemployment is higher than unemployment of people ages 20 and over. Explain why economists would attribute at least part of this difference to minimum-wage laws.

Correct Answer
verified
People who are experienced and educated ...
View Answer

Within the U.S. population, teenagers ages 16-19 have similar rates of labor-force participation than adults of prime working age ages 25-54, regardless of race or gender.

Correct Answer
verified

Most spells of unemployment are

Correct Answer
verified

Exam 20: Unemployment

Unemployment insurance tends to

Correct AnswerverifiedShow Answer

Figure 28-7 -Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Correct AnswerverifiedShow Answer

Discouraged workers are included in

Correct AnswerverifiedShow Answer

Structural unemployment results when the number of jobs is insufficient for the number of workers.

Correct AnswerverifiedShow Answer

Economists would predict that, other things the same, the more generous unemployment compensation a country has, the

Correct AnswerverifiedShow Answer

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Correct AnswerverifiedShow Answer

Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult labor force in Meditor?

Correct AnswerverifiedShow Answer

Frictional unemployment results from

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Correct AnswerverifiedShow Answer

The labor-force participation rate tells us the fraction of the population that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Minimum wages create unemployment in markets where they create a

Correct AnswerverifiedShow Answer

Wages in excess of their equilibrium level help explain

Correct AnswerverifiedShow Answer

Who is not included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

Correct AnswerverifiedShow Answer

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment.

Correct AnswerverifiedShow Answer

Frictional unemployment is

Correct AnswerverifiedShow Answer

Teenage unemployment is higher than unemployment of people ages 20 and over. Explain why economists would attribute at least part of this difference to minimum-wage laws.

Correct AnswerverifiedPeople who are experienced and educated ...View AnswerShow Answer

Within the U.S. population, teenagers ages 16-19 have similar rates of labor-force participation than adults of prime working age ages 25-54, regardless of race or gender.

Correct AnswerverifiedShow Answer

Most spells of unemployment are

Correct AnswerverifiedShow Answer

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People who are experienced and educated ...
View Answer

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