Question 1

Who in the adult population is counted as "employed" in U.S. labor statistics?

Accepted Answer

A)   people who are temporarily absent from their job and people who work without pay in a family member's business
B)   people who are temporarily absent from their job but not people who work without pay in a family member's business
C)   people who work without pay in a family member's business but not people who are temporarily absent from their job
D)   neither people who are temporarily absent from their job nor people who work without pay in a family member's businessE) A) and B)
F) B) and C)

Question 2

Minimum-wage laws are least likely to affect the wages paid to

Accepted Answer

A)   teenagers.
B)   low-skill workers.
C)   inexperienced workers.
D)   highly-educated workers.E) None of the above
F) All of the above

Question 3

Table 28-3
2009 Labor Data for Baltivia
 
-Refer to Table 28-3. What was Baltivia's labor­force participation rate in 2009?

Accepted Answer

A)   55%
B)   63%
C)   66.9%
D)   87.3%E) A) and B)
F) All of the above

Question 4

Cyclical unemployment is caused by

Accepted Answer

A)   frictional and structural unemployment
B)   frictional but not structural unemployment
C)   structural but not frictional unemployment
D)   neither frictional nor structural unemploymentE) C) and D)
F) A) and B)

Question 5

Suppose that roofers are not unionized. If roofers unionize, then the supply of labor in other sectors of the economy will

Accepted Answer

A)   decrease, raising wages in industries that are not unionized.
B)   decrease, reducing wages in industries that are not unionized.
C)   increase, raising wages in industries that are not unionized.
D)   increase, reducing wages in industries that are not unionized.E) A) and D)
F) None of the above

Question 6

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) B) and D)
F) B) and C)

Question 7

The growth rate for the American economy is

Accepted Answer

A)   lower in the 21st century than for the previous 250 years.
B)   higher in the 21st century than for the previous 250 years and increasing rapidly.
C)   higher in the 21st century than for the previous 250 years but increasing slowly.
D)   approximately equal in the 21st century and in the previous 250 years.E) B) and D)
F) A) and D)

Question 8

Define efficiency wages.

Accepted Answer

Efficiency wages are...

Question 9

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following includes everyone in the adult population that the Bureau of Labor Statistics counts as "unemployed"?

Accepted Answer

A)   anyone who is not employed
B)   anyone who is not employed, is available for work, and has looked for work in the past four weeks
C)   anyone who is not employed, is available for work, has looked for work in the past four weeks, and anyone who is waiting to be recalled from a job from which they have been laid off
D)   anyone who is not employed, is available for work, has looked for work in the past four weeks, anyone who is waiting to be recalled from a job from which they have been laid off, and anyone who is employed part time and has searched for full time employment in the past 4 weeksE) A) and D)
F) None of the above

Question 11

Unemployment insurance reduces the incentive for the unemployed to find and take new jobs.

Accepted Answer

A) True 
 B)False

Question 12

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The labor-force participation rate of Aridia in 2012 was

Accepted Answer

A)   50%.
B)   53.3%.
C)   56.25%.
D)   88.9%.E) A) and B)
F) All of the above

Question 13

The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.

Accepted Answer

A) True 
 B)False

Question 14

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey.

Accepted Answer

A) True 
 B)False

Question 15

Explain how the following apparently contradictory statement can be true: Most spells of unemployment are short, and most unemployment observed at any given time is long-term.

Accepted Answer

Most people who become unemplo...

Question 16

Wages set above the equilibrium wage by

Accepted Answer

A)   firms to increase morale are called collective bargaining wages.
B)   lawmakers to decrease cyclical unemployment are called minimum wages laws.
C)   firms to increase productivity are called efficiency wages.
D)   lawmakers to decrease the length of a job search are called efficiency wages.E) B) and C)
F) A) and B)

Question 17

Table 28-10
The table below lists the number of people by labor force classification for the country of Springfield.
 
-Refer to Table 28-10. Calculate the number in the adult population, and the labor force participation rate.

Accepted Answer

The adult population...

Question 18

Unions contribute to

Accepted Answer

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

Question 19

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The unemployment rate of Aridia in 2012 was

Accepted Answer

A)   6.25%.
B)   11.1%.
C)   12.5%.
D)   56.25%.E) A) and B)
F) B) and D)

Question 20

The labor-force participation rate equals the percentage of the labor force that is employed.

Accepted Answer

A) True 
 B)False

Exam 15: Unemployment

Wages set above the equilibrium wage by

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.

Correct AnswerverifiedShow Answer

Define efficiency wages.

Correct AnswerverifiedEfficiency wages are...View AnswerShow Answer

Suppose that roofers are not unionized. If roofers unionize, then the supply of labor in other sectors of the economy will

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia in 2012 was

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor-force participation rate of Aridia in 2012 was

Correct AnswerverifiedShow Answer

Table 28-10 The table below lists the number of people by labor force classification for the country of Springfield. -Refer to Table 28-10. Calculate the number in the adult population, and the labor force participation rate.

Correct AnswerverifiedThe adult population...View AnswerShow Answer

Unemployment insurance reduces the incentive for the unemployed to find and take new jobs.

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Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's labor­force participation rate in 2009?

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The labor-force participation rate equals the percentage of the labor force that is employed.

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The growth rate for the American economy is

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Minimum-wage laws are least likely to affect the wages paid to

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The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment.

Correct AnswerverifiedShow Answer

Explain how the following apparently contradictory statement can be true: Most spells of unemployment are short, and most unemployment observed at any given time is long-term.

Correct AnswerverifiedMost people who become unemplo...View AnswerShow 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

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey.

Correct AnswerverifiedShow Answer

Which of the following includes everyone in the adult population that the Bureau of Labor Statistics counts as "unemployed"?

Correct AnswerverifiedShow Answer

Who in the adult population is counted as "employed" in U.S. labor statistics?

Correct AnswerverifiedShow Answer

Cyclical unemployment is caused by

Correct AnswerverifiedShow Answer

Unions contribute to

Correct AnswerverifiedShow Answer

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Efficiency wages are...
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The adult population...
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Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's laborforce participation rate in 2009?

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Most people who become unemplo...
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