Question 1

Table 10-3
2010 Labor Data for Adults (age 16 and older)  in Meditor
 
-Refer to Table 10-3. What is the adult male labor-force participation rate in Meditor?

Accepted Answer

A)   37 percent
B)   63 percent
C)   66.7 percent
D)   96.3 percentE) C) and D)
F) None of the above

Question 2

Which of the following is not a reason that paying efficiency wages may increase a firm's profit?

Accepted Answer

A)   Efficiency wages increase worker health and therefore increase worker productivity.
B)   Efficiency wages decrease worker turnover and therefore decrease hiring and training costs.
C)   Efficiency wages decrease worker shirking and therefore increase worker productivity.
D)   Efficiency wages are below the equilibrium wage rate, but still attract a sufficient number of workers.E) All of the above
F) A) and B)

Question 3

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Accepted Answer

A)   always zero.
B)   sometimes zero.
C)   rarely zero.
D)   never zero.E) C) and D)
F) B) and D)

Question 4

The adult population must equal the sum of the employed and the unemployed.

Accepted Answer

A) True 
 B)False

Question 5

Sectoral shifts temporarily cause unemployment.

Accepted Answer

A) True 
 B)False

Question 6

The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse, but created jobs for telegraph operators and delivery persons. 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) None of the above
F) A) and D)

Question 7

Suppose that autoworkers are unionized in one region of the country but not in the other. If the unionized workers abolished their unions, employment

Accepted Answer

A)   and wages of autoworkers in that region would rise.
B)   of automobile workers in that region would rise, but wages of automobile workers in that region would fall.
C)   and wages of autoworkers in that region would fall.
D)   of automobile workers in that region would fall but wages of automobile workers in that region would rise.E) A) and B)
F) A) and C)

Question 8

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.

Accepted Answer

The answer of The table below uses data for the...

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Most spells of unemployment are short, and most unemployment observed at any given time is long term. How can this be?

Accepted Answer

Most unemployed people in the economy ar...

Question 11

Figure 10-1
 
-Refer to Figure 10-1. If the government imposes a minimum wage of $8, then unemployment will increase by

Accepted Answer

A)   0 workers.
B)   2000 workers.
C)   4000 workers.
D)   7000 workers.E) B) and C)
F) A) and D)

Question 12

The unemployed who quit their jobs, were fired for cause, or just entered the labor force are eligible for unemployment insurance.

Accepted Answer

A) True 
 B)False

Question 13

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Accepted Answer

A) True 
 B)False

Question 14

Job search

Accepted Answer

A)   is one reason economies always experience some unemployment.
B)   is the process of matching workers with appropriate jobs.
C)   would not be a problem if all workers and all jobs were the same.
D)   All of the above are correct.E) A) and B)
F) B) and C)

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Every adult who was not employed during the previous 4 weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 17

Every week, the Bureau of Labor Statistics produces data on unemployment.

Accepted Answer

A) True 
 B)False

Question 18

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Accepted Answer

A) True 
 B)False

Question 19

Frictional unemployment is inevitable because

Accepted Answer

A)   sectoral shifts are always happening.
B)   there is a federal minimum-wage law in the U.S.
C)   some people do not want to be employed.
D)   unions are very popular in the U.S.E) C) and D)
F) None of the above

Question 20

Noah, the owner of an electronics factory, decides to raise the wages of his workers even though he faces an excess supply of labor. His decision

Accepted Answer

A)   might increase profits if it attracts a better pool of workers to apply for his firm's jobs.
B)   will increase the excess supply of labor.
C)   may increase the quality of his work force.
D)   All of the above are correct.E) C) and D)
F) A) and B)

Exam 10: Unemployment

Suppose that autoworkers are unionized in one region of the country but not in the other. If the unionized workers abolished their unions, employment

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Frictional unemployment is often the result of changes in the demand for labor among different firms.

Correct AnswerverifiedShow Answer

Which of the following is not a reason that paying efficiency wages may increase a firm's profit?

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Every week, the Bureau of Labor Statistics produces data on unemployment.

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

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Frictional unemployment is inevitable because

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Sectoral shifts temporarily cause unemployment.

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Table 10-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 10-3. What is the adult male labor-force participation rate in Meditor?

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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.

Correct AnswerverifiedShow Answer

The adult population must equal the sum of the employed and the unemployed.

Correct AnswerverifiedShow Answer

Noah, the owner of an electronics factory, decides to raise the wages of his workers even though he faces an excess supply of labor. His decision

Correct AnswerverifiedShow Answer

The unemployed who quit their jobs, were fired for cause, or just entered the labor force are eligible for unemployment insurance.

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Job search

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Most spells of unemployment are short, and most unemployment observed at any given time is long term. How can this be?

Correct AnswerverifiedMost unemployed people in the economy ar...View AnswerShow Answer

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Correct AnswerverifiedShow Answer

Every adult who was not employed during the previous 4 weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

Figure 10-1 -Refer to Figure 10-1. If the government imposes a minimum wage of $8, then unemployment will increase by

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Correct AnswerverifiedShow Answer

The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse, but created jobs for telegraph operators and delivery persons. This is an example of

Correct AnswerverifiedShow Answer

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Most unemployed people in the economy ar...
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