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Exam 15: Unemployment

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Question 31

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Sirius has just finished high school and started looking for his first job, but has not yet found one. Other things the same, the unemployment rate

A) and the labor-force participation rate both increase.
B) increases and the labor-force participation rate is unaffected.
C) is unaffected and the labor-force participation rate increases.
D) and the labor-force participation rate are both unaffected.

E) A) and D)
F) A) and C)

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Question 32

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Table 15-3 2010 Labor Data for Adults (age 16 and older) in Meditor $\begin{array} { | l | l | } \hline \text { Males not in labar farce } & 45 \text { million } \\\hline \text { Femeles nat in labor force } & 35 \text { million } \\\hline \text { Males unemplayed } & 5 \text { millian } \\\hline \text { Fenales unemployed } & 5 \text { millian } \\\hline \text { Males employed } & 85 \text { million } \\\hline \text { Fenales enployed } & 65 \text { milling } \\\hline\end{array}$ -Refer to Table 15-3. What is the adult unemployment rate in Meditor?

A) 4.2 percent
B) 6.25 percent
C) 6.7 percent
D) 10 percent

E) B) and C)
F) A) and B)

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Question 33

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Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

More generous unemployment insurance would

Unemployment data are collected

In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage. As a result, turnover and absenteeism fell and productivity and profits rose.

According to 2009 data on the U.S. population, which of the following groups of adults (ages 20 and older) had the lowest labor-force participation rate?

Figure 15-1 -Refer to Figure 15-1. If the government imposes a minimum wage of $8, then how many workers will be employed?

Wages in excess of their equilibrium level help explain

Labor Market Data Below is some hypothetical data on the labor market. $\begin{array} { | c | c | c | } \hline \text { wage } & \text { quuantity demanded } & \text { quuanty 5upplied } \\\hline \$ 7 & 9,000 & 14,000 \\\hline \$ 6 & 12,000 & 12,000 \\\hline \$ 5 & 15,000 & 10,000 \\\hline\end{array}$ -Refer to Labor Market Data. If the government imposed a minimum wage of $7, what would unemployment be?

In the 1940s and 1950s, about one-third of U.S. workers belonged to unions, but today, only about one-fifth of U.S. workers belong to unions.

The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment.

Measuring unemployment is the job of the

Data on the unemployment rate in the U.S. since 1960 show that the economy always has some unemployment and that the amount changes from year to year.

Which of the following is not correct?

The Bureau of labor statistics divides the adult population into two categorizes, those who are employed and those who are unemployed.

Data show that at least 20 percent of U.S. manufacturing jobs are destroyed every year.

The table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table. $\begin{array}{|c|c|c|c|c|c|c|}\hline \text { Country } & \begin{array}{c}\text { Adult } \\\text { Population }\end{array} & \begin{array}{c}\text { Labor } \\\text { Force }\end{array} & \text { Employed } & \text { Unemployed } & \begin{array}{c}\text { Unemployment } \\\text { Rate }\end{array} & \begin{array}{c}\text { Labor-Force } \\\text { Participation } \\\text { Rate }\end{array} \\\hline \text { Japan } & 109,474 & & 62,510 & 3,500 & & \\\hline \text { France } & & 26,870 & & 2,577 & & 57.41 \\\hline \text { Germany } & 70,159 & 39,591 & & & 9.69 & \\\hline\end{array}$

Causes of the decline in the U.S. men's labor-force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did, older men now retiring earlier and living longer, and more fathers now staying at home to raise their children.

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.