Question 1

In the absence of right-to-work laws, workers

Accepted Answer

A)   that went on strike could be permanently replaced.
B)   might be required to join the union if they worked for a unionized firm.
C)   would not be able to unionize.
D)   would not be able to strike.E) B) and C)
F) C) and D)

Question 2

Most spells of unemployment are short. About half of unemployment spells end with an exit from the labor force.

Accepted Answer

A) True 
 B)False

Question 3

The unemployment rate equals the percentage of the labor force that is unemployed.

Accepted Answer

A) True 
 B)False

Question 4

Both full­time and part­time workers are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 5

Octavia does not currently have a job, but she has applied for several jobs in the previous week. Eve is an unpaid stay-at-home mom who has not searched for work in recent years. Who does the Bureau of Labor Statistics count as "out of the labor force"?

Accepted Answer

A)   Octavia but not Eve
B)   Eve but not Octavia
C)   both Octavia and Eve
D)   neither Octavia nor EveE) A) and C)
F) A) and D)

Question 6

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Accepted Answer

A)   those unemployed relative to those employed.
B)   the labor force that is unemployed.
C)   the adult population that is unemployed.
D)   the adult population that is unemployed or not in the labor force.E) A) and B)
F) A) and C)

Question 7

According to the theory of efficiency wages, firms operate more efficiently if wages are above the equilibrium level.

Accepted Answer

A) True 
 B)False

Question 8

Provide a definition of the natural rate of unemployment.

Accepted Answer

The amount of unempl...

Question 9

Jamarcus works part-time as a pizza delivery person in a college town. The Bureau of Labor Statistics counts Jamarcus as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed and not in the labor force.
C)   employed and in the labor force.
D)   employed and not in the labor force.E) All of the above
F) None of the above

Question 10

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Accepted Answer

A) True 
 B)False

Question 11

Figure 28-7 
-Refer to Figure 28-7. Without a minimum wage, what is the equilibrium level of employment? Explain what happens to the level of employment if the minimum wage is equal to $125.

Accepted Answer

Without a minimum wage, employ...

Question 12

Which of the following is correct?

Accepted Answer

A)   Labor force = number of employed.
B)   Labor force = population - number of unemployed.
C)   Unemployment Rate = number of unemployed ÷ number of employed + number of unemployed)  × 100.
D)   Unemployment Rate = number of unemployed ÷ adult population × 100.E) B) and C)
F) All of the above

Question 13

To be counted as "employed" in the U.S. labor force statistics, a person

Accepted Answer

A)   must be working for pay and be working full time.
B)   must be working for pay but does not have to be working full time.
C)   does not have to be working for pay if they are working for a family business but must be employed full time.
D)   does not have to be working for pay if they are working for a family business and does not have to be working full timeE) A) and C)
F) None of the above

Question 14

Gwen is an unpaid worker in her family's restaurant. The Bureau of Labor Statistics counts Gwen as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed and not in the labor force.
C)   employed and in the labor force.
D)   employed and not in the labor force.E) B) and D)
F) B) and C)

Question 15

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

Accepted Answer

A)   monthly survey of about 60,000 households.
B)   monthly survey of about 6,000 households.
C)   weekly survey of about 60,000 households.
D)   weekly survey of about 6,000 households.E) B) and C)
F) A) and B)

Question 16

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Accepted Answer

A) True 
 B)False

Question 17

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 C)
F) C) and D)

Question 18

Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months. Other things the same, the unemployment rate

Accepted Answer

A)   increases, and the labor-force participation rate decreases.
B)   increases, and the labor-force participation rate is unaffected.
C)   is unaffected, and the labor-force participation rate decreases.
D)   and the labor-force participation rate are both unaffected.E) A) and B)
F) A) and C)

Question 19

Right-to-work laws give workers in a unionized firm the right to choose whether to join the union.

Accepted Answer

A) True 
 B)False

Question 20

There are always some workers without jobs, even when the overall economy is doing well.

Accepted Answer

A) True 
 B)False

Exam 15: Unemployment

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

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To be counted as "employed" in the U.S. labor force statistics, a person

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Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months. Other things the same, the unemployment rate

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Which of the following is correct?

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Figure 28-7 -Refer to Figure 28-7. Without a minimum wage, what is the equilibrium level of employment? Explain what happens to the level of employment if the minimum wage is equal to $125.

Correct AnswerverifiedWithout a minimum wage, employ...View AnswerShow Answer

Gwen is an unpaid worker in her family's restaurant. The Bureau of Labor Statistics counts Gwen as

Correct AnswerverifiedShow Answer

There are always some workers without jobs, even when the overall economy is doing well.

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Jamarcus works part-time as a pizza delivery person in a college town. The Bureau of Labor Statistics counts Jamarcus as

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Correct AnswerverifiedShow Answer

In the absence of right-to-work laws, workers

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Correct AnswerverifiedShow Answer

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Correct AnswerverifiedShow Answer

Unions

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Provide a definition of the natural rate of unemployment.

Correct AnswerverifiedThe amount of unempl...View AnswerShow Answer

Most spells of unemployment are short. About half of unemployment spells end with an exit from the labor force.

Correct AnswerverifiedShow Answer

Both full­time and part­time workers are included in the Bureau of Labor Statistics' "employed" category.

Correct AnswerverifiedShow Answer

Octavia does not currently have a job, but she has applied for several jobs in the previous week. Eve is an unpaid stay-at-home mom who has not searched for work in recent years. Who does the Bureau of Labor Statistics count as "out of the labor force"?

Correct AnswerverifiedShow Answer

According to the theory of efficiency wages, firms operate more efficiently if wages are above the equilibrium level.

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The unemployment rate equals the percentage of the labor force that is unemployed.

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Right-to-work laws give workers in a unionized firm the right to choose whether to join the union.

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Without a minimum wage, employ...
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The amount of unempl...
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Both fulltime and parttime workers are included in the Bureau of Labor Statistics' "employed" category.

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