Question 1

According to 2009 data on the U.S.population which of the following was correct?

Accepted Answer

A)   Adults had higher labor-force participation rates and higher rates of unemployment compared to teenagers.
B)   Adults had higher labor-force participation rates and lower rates of unemployment compared to teenagers.
C)   Adults had lower labor-force participation rates and lower rates of unemployment compared to teenagers.
D)   Adults had lower labor-force participation rates and higher rates of unemployment compared to teenagers.E) C) and D)
F) A) and B)

Question 2

Suppose that consumers choose to smoke less and chew gum more.Tobacco companies cut back on the number of people they employ while chewing gum manufacturers employ more.This is an example of

Accepted Answer

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

Question 3

Table 15-5
2010 Labor Data for Tajnia
 
-Refer to Table 15-5.The labor-force participation rate of Tajnia in 2010 is about 40.8 percent.

Accepted Answer

A) True 
 B)False

Question 4

When a minimum-wage law forces the wage to remain above the level that balances supply and demand,the result is a shortage of labor.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Who of the following is not included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)   those who worked in their own business
B)   those who worked as unpaid workers in a family member's business
C)   those waiting to be recalled to a job from which they had been laid off
D)   those who were temporarily absent from work because of vacation.E) None of the above
F) C) and D)

Question 7

The efficiency-wage theory of worker quality suggests that if firms respond to a surplus of labor by reducing the wage,then highly qualified workers will be

Accepted Answer

A)   more likely to apply,and unemployment will increase
B)   more likely to apply,and unemployment will decrease.
C)   less likely to apply,and unemployment will increase
D)   less likely to apply,and unemployment will increase.E) B) and C)
F) All of the above

Question 8

Over the past several decades in the United States,the labor-force participation rate of women has increased and the labor-force participation rate of men had decreased.

Accepted Answer

A) True 
 B)False

Question 9

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of households,called the

Accepted Answer

A)   Census.
B)   Labor Survey.
C)   Survey of Economic Indicators.
D)   Current Population Survey.E) A) and B)
F) A) and C)

Question 10

Why might a favorable change in the economy,such as technological improvement or a decrease in the price of imported oil,be associated with an increase in frictional unemployment?

Accepted Answer

Even generally favorable changes will us...

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Suppose that the adult population is 6 million,the number of employed is 3.8 million,and the labor-force participation rate is 70%.What is the unemployment rate?

Accepted Answer

A)   6.7%
B)   9.5%
C)   10.5%
D)   28%E) B) and D)
F) B) and C)

Question 13

The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates.

Accepted Answer

A) True 
 B)False

Question 14

Jouke is on a temporary layoff from his factory job but has not looked for work in the last four weeks.The Bureau of Labor Statistics counts Jouke 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) A) and C)
F) A) and B)

Question 15

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the lowest labor-force participation rate?

Accepted Answer

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

Question 16

Arnold quit his job because he was unhappy at work.Michael was fired because he frequently came to work late.Who is eligible for unemployment insurance benefits?

Accepted Answer

A)   both Arnold and Michael
B)   Arnold but not Michael
C)   Michael but not Arnold
D)   neither Arnold nor MichaelE) A) and D)
F) A) and C)

Question 17

Right-to-work laws

Accepted Answer

A)   guarantee workers the right to form unions.
B)   give workers in a unionized firm the right to choose whether to join the union.
C)   prevent employers from hiring permanent replacements for workers who are on strike.
D)   prevent workers from being fired because of increases in wages brought about by collective bargaining.E) B) and C)
F) B) and D)

Question 18

Recent entrants into the labor force account for about

Accepted Answer

A)   1/5 of those who are unemployed.
B)   1/4 of those who are unemployed.
C)   1/3 of those who are unemployed.
D)   1/2 of those who are unemployed.E) B) and D)
F) B) and C)

Question 19

Evidence from research studies by economists

Accepted Answer

A)   shows that increased unemployment benefits decrease the job search efforts of the unemployed.
B)   shows that increased unemployment benefits have virtually no effect on the job search efforts of the unemployed.
C)   shows that increased unemployment benefits increase the job search efforts of the unemployed.
D)   is conflicting on what increased unemployment benefits do to the job search efforts of the unemployed.E) A) and C)
F) B) and D)

Question 20

Figure 15-1 
-Refer to Figure 15-1.If the government imposes a minimum wage of $4,then how many workers will be unemployed?

Accepted Answer

A)   0
B)   3000
C)   4000
D)   7000E) B) and C)
F) A) and D)

Exam 28: Unemployment

Table 15-5 2010 Labor Data for Tajnia -Refer to Table 15-5.The labor-force participation rate of Tajnia in 2010 is about 40.8 percent.

Correct AnswerverifiedShow Answer

According to 2009 data on the U.S.population which of the following was correct?

Correct AnswerverifiedShow Answer

When a minimum-wage law forces the wage to remain above the level that balances supply and demand,the result is a shortage of labor.

Correct AnswerverifiedShow Answer

Right-to-work laws

Correct AnswerverifiedShow Answer

Recent entrants into the labor force account for about

Correct AnswerverifiedShow Answer

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the lowest labor-force participation rate?

Correct AnswerverifiedShow Answer

Suppose that the adult population is 6 million,the number of employed is 3.8 million,and the labor-force participation rate is 70%.What is the unemployment rate?

Correct AnswerverifiedShow Answer

Why might a favorable change in the economy,such as technological improvement or a decrease in the price of imported oil,be associated with an increase in frictional unemployment?

Correct AnswerverifiedEven generally favorable changes will us...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Who of the following is not included in the Bureau of Labor Statistics' "employed" category?

Correct AnswerverifiedShow Answer

Over the past several decades in the United States,the labor-force participation rate of women has increased and the labor-force participation rate of men had decreased.

Correct AnswerverifiedShow Answer

Evidence from research studies by economists

Correct AnswerverifiedShow Answer

Arnold quit his job because he was unhappy at work.Michael was fired because he frequently came to work late.Who is eligible for unemployment insurance benefits?

Correct AnswerverifiedShow Answer

The efficiency-wage theory of worker quality suggests that if firms respond to a surplus of labor by reducing the wage,then highly qualified workers will be

Correct AnswerverifiedShow Answer

Figure 15-1 -Refer to Figure 15-1.If the government imposes a minimum wage of $4,then how many workers will be unemployed?

Correct AnswerverifiedShow Answer

Suppose that consumers choose to smoke less and chew gum more.Tobacco companies cut back on the number of people they employ while chewing gum manufacturers employ more.This is an example of

Correct AnswerverifiedShow Answer

The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates.

Correct AnswerverifiedShow Answer

Jouke is on a temporary layoff from his factory job but has not looked for work in the last four weeks.The Bureau of Labor Statistics counts Jouke as

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of households,called the

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Even generally favorable changes will us...
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