Question 1

A union is a type of cartel.

Accepted Answer

A) True 
 B)False

Question 2

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The labor force of Aridia in 2010 was

Accepted Answer

A)   1,400.
B)   1,600.
C)   1,800.
D)   2,000.E) A) and B)
F) A) and C)

Question 3

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 4

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 5

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Accepted Answer

A)   rise. The supply of workers in other similar professions will also rise.
B)   rise. The supply of workers in other similar professions will fall.
C)   fall. The supply of workers in other similar professions will rise.
D)   fall. The supply of workers in other similar professions will also fall.E) A) and B)
F) A) and C)

Question 6

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Accepted Answer

A) True 
 B)False

Question 7

Caroline is the owner of a hair-styling salon and spa. She decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision

Accepted Answer

A)   might increase profits if it attracts a better pool of workers to apply for jobs at her salon.
B)   will increase the excess supply of labor.
C)   may increase the quality of her work force.
D)   All of the above are correct.E) None of the above
F) B) and D)

Question 8

Figure 28-3 
-Refer to Figure 28-3. If the government imposes a minimum wage of $4, how many workers will be unemployed?

Accepted Answer

A)   0
B)   3,000
C)   4,000
D)   7,000E) A) and B)
F) A) and C)

Question 9

Which of the following is correct?

Accepted Answer

A)   Nearly all economists believe that unions are bad for the economy as a whole.
B)   Unionized firms pay wages above the competitive equilibrium level.
C)   Unions increase the level of employment in unionized firms.
D)   Unions decrease the level of employment in firms without unions.E) None of the above
F) A) and C)

Question 10

Public policy

Accepted Answer

A)   can reduce both frictional unemployment and the natural rate of unemployment.
B)   can reduce frictional unemployment, but it cannot reduce the natural rate of unemployment.
C)   cannot reduce frictional unemployment, but it can reduce the natural rate of unemployment.
D)   cannot reduce either frictional unemployment or the natural rate of unemployment.E) B) and C)
F) A) and B)

Question 11

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment.
-Refer to Scenario 28-1. What is the total labor force?

Accepted Answer

A)   25 million
B)   28 million
C)   29 million
D)   30 millionE) C) and D)
F) None of the above

Question 12

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 13

List the four ways to explain unemployment in the long run.

Accepted Answer

search costs, minimu...

Question 14

The labor force equals the sum of the employed and the unemployed.

Accepted Answer

A) True 
 B)False

Question 15

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such as teenagers.

Accepted Answer

A) True 
 B)False

Question 16

Within the U.S. population, women of prime working age ages 25-54 have higher rates of unemployment than men of prime working age ages 25-54, regardless of race.

Accepted Answer

A) True 
 B)False

Question 17

Unemployment insurance the amount of unemployment.

Accepted Answer

The answer of Unemployment insurance the amount of unemployment....

Question 18

Collective bargaining refers to

Accepted Answer

A)   the process by which the government sets exemptions from the minimum wage law.
B)   setting the same wage for all employees to prevent conflict among workers.
C)   firms colluding to set the wages of employees below equilibrium.
D)   the process by which unions and firms agree on the terms of employment.E) A) and C)
F) A) and B)

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Figure 28-3 
-Refer to Figure 28-3. If the government imposes a minimum wage of $8, then employment will decrease by

Accepted Answer

A)   0 workers.
B)   2,000 workers.
C)   3,000 workers.
D)   4,000 workers.E) B) and D)
F) C) and D)

Exam 20: Unemployment

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Correct Answer
verified

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 Answer
verified
Even generally favorable changes will us...
View Answer

Public policy

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

List the four ways to explain unemployment in the long run.

Correct Answer
verified
search costs, minimu...
View Answer

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $8, then employment will decrease by

Correct Answer
verified

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $4, how many workers will be unemployed?

Correct Answer
verified

A union is a type of cartel.

Correct Answer
verified

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Correct Answer
verified

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia in 2010 was

Correct Answer
verified

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Correct Answer
verified

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such as teenagers.

Correct Answer
verified

Which of the following is correct?

Correct Answer
verified

Unemployment insurance the amount of unemployment.

Correct Answer
verified

Collective bargaining refers to

Correct Answer
verified

Caroline is the owner of a hair-styling salon and spa. She decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision

Correct Answer
verified

Within the U.S. population, women of prime working age ages 25-54 have higher rates of unemployment than men of prime working age ages 25-54, regardless of race.

Correct Answer
verified

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 Answer
verified
The adult population...
View Answer

The labor force equals the sum of the employed and the unemployed.

Correct Answer
verified

Exam 20: Unemployment

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

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

Public policy

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

List the four ways to explain unemployment in the long run.

Correct Answerverifiedsearch costs, minimu...View AnswerShow Answer

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $8, then employment will decrease by

Correct AnswerverifiedShow Answer

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $4, how many workers will be unemployed?

Correct AnswerverifiedShow Answer

A union is a type of cartel.

Correct AnswerverifiedShow Answer

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia in 2010 was

Correct AnswerverifiedShow Answer

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Correct AnswerverifiedShow Answer

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such as teenagers.

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Unemployment insurance the amount of unemployment.

Correct AnswerverifiedShow Answer

Collective bargaining refers to

Correct AnswerverifiedShow Answer

Caroline is the owner of a hair-styling salon and spa. She decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision

Correct AnswerverifiedShow Answer

Within the U.S. population, women of prime working age ages 25-54 have higher rates of unemployment than men of prime working age ages 25-54, regardless of race.

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

The labor force equals the sum of the employed and the unemployed.

Correct AnswerverifiedShow Answer

Correct Answer
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Even generally favorable changes will us...
View Answer

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verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified
search costs, minimu...
View Answer

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verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The adult population...
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Correct Answer
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