Question 1

Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 2

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 3

Which of the following is correct?

Accepted Answer

A)   In unionized industries wages are above the level that would prevail in competitive markets.
B)   The introduction of a union in some industry reduces the quantity of labor demanded in that industry,causes some workers in that industry to be unemployed,and reduces wages in the rest of the economy.
C)   Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
D)   All of the above are correct.E) All of the above
F) C) and D)

Question 4

The adult population must equal the sum of the employed,the unemployed,and those not in the labor force.

Accepted Answer

A) True 
 B)False

Question 5

The deviation of unemployment from its natural rate is called cyclical unemployment.

Accepted Answer

A) True 
 B)False

Question 6

Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Accepted Answer

A) True 
 B)False

Question 7

What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages.

Accepted Answer

According to the theory of efficiency wa...

Question 8

If people who report being unemployed are not,in fact,trying hard to find a job,then the reported unemployment rate will be baised upward.

Accepted Answer

A) True 
 B)False

Question 9

The effects of unionization on wages in the sectors of the economy that are unionized causes the supply of labor in other sectors of the economy to

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) A) and B)

Question 10

Sam has no job but keeps applying to get a job with a business that is unionized.He is qualified and he finds the pay attractive,but the firm is not hiring.Sam is

Accepted Answer

A)   structurally unemployed.Structural unemployment exists even in the long run.
B)   structurally unemployed.Structural unemployment does not exist in the long run.
C)   frictionally unemployed.Frictional unemployment exists even in the long run.
D)   frictionally unemployed.Frictional unemployment does not exist in the long run.E) B) and D)
F) A) and B)

Question 11

Unemployment insurance causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.

Accepted Answer

A) True 
 B)False

Question 12

Most U.S.workers have wages well above the legal minimum,so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

Accepted Answer

A) True 
 B)False

Question 13

Figure 20-1 
-Refer to Figure 20-1.At the equilibrium wage,how many workers are employed?

Accepted Answer

A)   0
B)   1000
C)   5000
D)   9000E) B) and C)
F) A) and D)

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Minimum-wage laws affect all workers.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is not an explanation for the existence of unemployment in the long run?

Accepted Answer

A)   it takes time for workers to search for the jobs that are best suited for them
B)   minimum-wage laws
C)   unions
D)   the business cycleE) B) and C)
F) A) and B)

Question 17

The unemployment that results from the process of matching workers and jobs is called structural unemployment.

Accepted Answer

A) True 
 B)False

Question 18

Because people move into and out of the labor force so often,statistics on unemployment are difficult to interpret.

Accepted Answer

A) True 
 B)False

Question 19

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Accepted Answer

A) True 
 B)False

Question 20

A typical American worker covered by unemployment insurance receives

Accepted Answer

A)   50 percent of his former wages for 26 weeks.
B)   50 percent of his former wages for 52 weeks.
C)   100 percent of his former wages for 26 weeks.
D)   100 percent of his former wages for 52 weeks.E) B) and D)
F) C) and D)

Exam 20: Unemployment

Figure 20-1 -Refer to Figure 20-1.At the equilibrium wage,how many workers are employed?

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The deviation of unemployment from its natural rate is called cyclical unemployment.

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What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages.

Correct AnswerverifiedAccording to the theory of efficiency wa...View AnswerShow Answer

Most U.S.workers have wages well above the legal minimum,so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

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

If people who report being unemployed are not,in fact,trying hard to find a job,then the reported unemployment rate will be baised upward.

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Correct AnswerverifiedShow Answer

The adult population must equal the sum of the employed,the unemployed,and those not in the labor force.

Correct AnswerverifiedShow Answer

Sam has no job but keeps applying to get a job with a business that is unionized.He is qualified and he finds the pay attractive,but the firm is not hiring.Sam is

Correct AnswerverifiedShow Answer

The effects of unionization on wages in the sectors of the economy that are unionized causes the supply of labor in other sectors of the economy to

Correct AnswerverifiedShow Answer

Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau of Labor Statistics' "employed" category.

Correct AnswerverifiedShow Answer

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A typical American worker covered by unemployment insurance receives

Correct AnswerverifiedShow Answer

Because people move into and out of the labor force so often,statistics on unemployment are difficult to interpret.

Correct AnswerverifiedShow Answer

The unemployment that results from the process of matching workers and jobs is called structural unemployment.

Correct AnswerverifiedShow Answer

Which of the following is not an explanation for the existence of unemployment in the long run?

Correct AnswerverifiedShow Answer

Unemployment insurance causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.

Correct AnswerverifiedShow Answer

Minimum-wage laws affect all workers.

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According to the theory of efficiency wa...
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