Question 1

List the four types of efficiency-wage theory.

Accepted Answer

Worker health, worke...

Question 2

Table 28-11
2010 Labor Data for Tajnia
 
-Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

Accepted Answer

A) True 
 B)False

Question 3

Ariana is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then

Accepted Answer

A)   the profits of her firm might increase.
B)   she will face a shortage of labor.
C)   the turnover of her workers may increase.
D)   None of the above is correct.E) A) and B)
F) None of the above

Question 4

Efficiency wages

Accepted Answer

A)   increase productivity and reduce unemployment.
B)   increase productivity but increase unemployment.
C)   decrease productivity but reduce unemployment.
D)   decrease productivity and increase unemployment.E) None of the above
F) All of the above

Question 5

In the absence of right-to-work laws, workers

Accepted Answer

A)   that went on strike could be permanently replaced.
B)   might be required to join the union if they worked for a unionized firm.
C)   would not be able to unionize.
D)   would not be able to strike.E) C) and D)
F) A) and D)

Question 6

Workers waiting for jobs to open up is most closely associated with

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   seasonal unemployment.
D)   structural unemployment.E) A) and D)
F) None of the above

Question 7

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

Accepted Answer

A)   70%.
B)   77.8%.
C)   80%.
D)   87.5%.E) A) and C)
F) A) and B)

Question 8

Maury did not work last week because fire forced an evacuation of his workplace. The Bureau of Labor Statistics counts Maury as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed and not in the labor force.
C)   employed and in the labor force.
D)   employed and not in the labor force.E) None of the above
F) B) and C)

Question 9

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Accepted Answer

A)   frictional unemployment created by sectoral shifts.
B)   frictional unemployment created by efficiency wages.
C)   structural unemployment created by efficiency wages.
D)   structural unemployment created by sectoral shifts.E) A) and B)
F) A) and D)

Question 10

Which of the following is not correct?

Accepted Answer

A)   An organized withdrawal of labor from a firm by a union is called a strike.
B)   The power of a union comes from its ability to strike if the union and the firm do not agree on the terms of employment.
C)   Economists who study the effects of unions typically find that union workers earn about 25 to 35 percent more than similar workers who do not belong to unions.
D)   Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.E) All of the above
F) A) and B)

Question 11

Esmerelda worked part­time for her mother's business without pay. Tabitha was absent from work because she had strep throat. Who is counted as "employed" by the Bureau of Labor Statistics?

Accepted Answer

A)   Esmerelda but not Tabitha
B)   Tabitha but not Esmerelda
C)   both Esmerelda and Tabitha
D)   neither Esmerelda nor TabithaE) None of the above
F) All of the above

Question 12

Ignoring the differences across states, explain the benefit provided to the typical worker in the United States from unemployment insurance.

Accepted Answer

Worker receives 50% ...

Question 13

Unemployment generated by the existence of labor unions is structural unemployment and so contributes to the natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 14

Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   Dia, an unpaid homemaker not looking for other work
B)   Kevin, a full-time student not looking for work
C)   Sarah, who does not have a job but is looking for work
D)   None of the above is correct.E) All of the above
F) B) and C)

Question 15

Figure 28-4 
-Refer to Figure 28-4. If 6,000 workers are unemployed, then the minimum wage must be

Accepted Answer

A)   $1.
B)   $4.
C)   $6.
D)   $7.E) C) and D)
F) A) and D)

Question 16

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 U-5 unemployment rate.

Accepted Answer

The answer of Table 28-10
The table below lists the number...

Question 17

Consider two people who are currently out of work. Tim is not looking for work because there have been many job cuts where he lives, and he doesn't think it likely that he will find work. Bev is not currently looking for work, but she would like a job, and she has looked for work in the past. The Bureau of Labor Statistics considers

Accepted Answer

A)   both Tim and Bev to be marginally attached workers.
B)   neither Tim nor Bev to be marginally attached workers.
C)   only Tim to be a marginally attached worker.
D)   only Bev to be a marginally attached worker.E) All of the above
F) A) and B)

Question 18

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. How many people are unemployed?

Accepted Answer

A)   1 million
B)   3 million
C)   4 million
D)   5 millionE) A) and D)
F) None of the above

Question 19

Structural unemployment results when wages are, for some reason, set above the level that brings supply and demand into equilibrium.

Accepted Answer

A) True 
 B)False

Question 20

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

Correct Answer
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In the absence of right-to-work laws, workers

Correct Answer
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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 U-5 unemployment rate.

Correct Answer
verified

Esmerelda worked parttime for her mother's business without pay. Tabitha was absent from work because she had strep throat. Who is counted as "employed" by the Bureau of Labor Statistics?

Correct Answer
verified

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Correct Answer
verified

Correct Answer
verified

Efficiency wages

Correct Answer
verified

Ariana is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then

Correct Answer
verified

Structural unemployment results when wages are, for some reason, set above the level that brings supply and demand into equilibrium.

Correct Answer
verified

Unemployment generated by the existence of labor unions is structural unemployment and so contributes to the natural rate of unemployment.

Correct Answer
verified

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

Correct Answer
verified

Who is included in the labor force by the Bureau of Labor Statistics?

Correct Answer
verified

Workers waiting for jobs to open up is most closely associated with

Correct Answer
verified

Ignoring the differences across states, explain the benefit provided to the typical worker in the United States from unemployment insurance.

Correct Answer
verified
Worker receives 50% ...
View Answer

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

Correct Answer
verified

Which of the following is not correct?

Correct Answer
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Figure 28-4 -Refer to Figure 28-4. If 6,000 workers are unemployed, then the minimum wage must be

Correct Answer
verified

List the four types of efficiency-wage theory.

Correct Answer
verified
Worker health, worke...
View Answer

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Correct Answer
verified

Maury did not work last week because fire forced an evacuation of his workplace. The Bureau of Labor Statistics counts Maury as

Correct Answer
verified

Exam 20: Unemployment

Correct AnswerverifiedShow Answer

In the absence of right-to-work laws, workers

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 U-5 unemployment rate.

Correct AnswerverifiedShow Answer

Esmerelda worked part­time for her mother's business without pay. Tabitha was absent from work because she had strep throat. Who is counted as "employed" by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Efficiency wages

Correct AnswerverifiedShow Answer

Ariana is the CEO of a corporation that hires nonunion labor. According to the theory of efficiency wages, if she decides to pay her workers more than the competitive equilibrium wage, then

Correct AnswerverifiedShow Answer

Structural unemployment results when wages are, for some reason, set above the level that brings supply and demand into equilibrium.

Correct AnswerverifiedShow Answer

Unemployment generated by the existence of labor unions is structural unemployment and so contributes to the natural rate of unemployment.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Who is included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

Workers waiting for jobs to open up is most closely associated with

Correct AnswerverifiedShow Answer

Ignoring the differences across states, explain the benefit provided to the typical worker in the United States from unemployment insurance.

Correct AnswerverifiedWorker receives 50% ...View AnswerShow Answer

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

Correct AnswerverifiedShow Answer

Which of the following is not correct?

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Figure 28-4 -Refer to Figure 28-4. If 6,000 workers are unemployed, then the minimum wage must be

Correct AnswerverifiedShow Answer

List the four types of efficiency-wage theory.

Correct AnswerverifiedWorker health, worke...View AnswerShow Answer

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Correct AnswerverifiedShow Answer

Maury did not work last week because fire forced an evacuation of his workplace. The Bureau of Labor Statistics counts Maury as

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Esmerelda worked parttime for her mother's business without pay. Tabitha was absent from work because she had strep throat. Who is counted as "employed" by the Bureau of Labor Statistics?

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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Worker receives 50% ...
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Correct Answer
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Correct Answer
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Worker health, worke...
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Correct Answer
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Correct Answer
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