Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Suppose the demand for hard-wood flooring increases, while the demand for wall-to-wall carpeting decreases. Based on this change in consumer tastes, the demand for hard-wood-flooring factory workers in North Carolina increases, while the demand for carpet factory workers in Georgia decreases. This is an example of

Accepted Answer

A)   frictional unemployment created by efficiency wages.
B)   structural unemployment created by efficiency wages.
C)   frictional unemployment created by sectoral shifts.
D)   structural unemployment created by sectoral shifts.E) None of the above
F) B) and C)

Question 3

The Bureau of Labor Statistics places people in the "employed" category if they

Accepted Answer

A)   are temporarily absent from their jobs.
B)   are self-employed.
C)   work without pay in a family member's business.
D)   All of the above are correct.E) C) and D)
F) A) and D)

Question 4

Which of the following is among the four industries with the largest employment in the United States today?

Accepted Answer

A)   lumber
B)   men's clothing
C)   communications
D)   cotton goodsE) A) and C)
F) A) and D)

Question 5

In which of the following situations should a firm pay efficiency wages?

Accepted Answer

A)   A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs.
B)   A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs.
C)   A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs.
D)   A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs.E) B) and D)
F) C) and D)

Question 6

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Accepted Answer

A)   2.54 million
B)   2.76 million
C)   3.68 million
D)   8 millionE) B) and C)
F) A) and D)

Question 7

The unemployment rate never falls to zero.

Accepted Answer

A) True 
 B)False

Question 8

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Italian adult non- institutionalized population was 51.070 million, the labor force was 24.710 million, and the number of people employed was 22.765 million. According to these numbers, the Italian labor-force participation rate and unemployment rate were about

Accepted Answer

A)   48.4% and 7.9%.
B)   48.4% and 3.8%.
C)   44.6% and 7.9%
D)   44.6% and 3.8%E) A) and C)
F) A) and D)

Question 9

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2012 was

Accepted Answer

A)   200.
B)   1,400.
C)   1,600.
D)   3,000.E) A) and D)
F) A) and C)

Question 10

Cyclical unemployment is closely associated with

Accepted Answer

A)   long-term economic growth.
B)   short-run ups and downs of the economy.
C)   fluctuations in the natural rate of unemployment.
D)   changes in the minimum wage.E) B) and C)
F) A) and C)

Question 11

When a union is present in a labor market, wages are not determined by the equilibrium of supply and demand.

Accepted Answer

A) True 
 B)False

Question 12

Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

Accepted Answer

A) True 
 B)False

Question 13

Michael decides to hire some additional workers for his roofing company. The equilibrium wage is $17 per hour. Efficiency wage theory suggests that it is reasonable for Michael to offer

Accepted Answer

A)   $17 per hour.
B)   less than $17 per hour because some people would be willing to work for less.
C)   less than $17 an hour to prevent shirking.
D)   more than $17 per hour in order to attract a better pool of applicants.E) A) and C)
F) B) and C)

Question 14

Employment can rise in one region of the country while it falls in another.

Accepted Answer

A) True 
 B)False

Question 15

Table 28-4
2010 Labor Data for Adults ages 16 and older)  in Meditor
 
-Refer to Table 28-4. What is the adult population in Meditor?

Accepted Answer

A)   90 million
B)   160 million
C)   230 million
D)   240 millionE) A) and B)
F) All of the above

Question 16

What problems arise in interpreting unemployment data?

Accepted Answer

Because people move into and out of the ...

Question 17

Causes of the decline in the U.S. men's labor­force 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.

Accepted Answer

A) True 
 B)False

Question 18

The Bureau of Labor Statistics produces data on

Accepted Answer

A)   unemployment.
B)   types of employment.
C)   length of the average workweek.
D)   All of the above are correct.E) A) and D)
F) None of the above

Question 19

Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.

Accepted Answer

A) True 
 B)False

Question 20

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2010 was

Accepted Answer

A)   200.
B)   400.
C)   600.
D)   1,800.E) C) and D)
F) A) and C)

Exam 20: Unemployment

Michael decides to hire some additional workers for his roofing company. The equilibrium wage is $17 per hour. Efficiency wage theory suggests that it is reasonable for Michael to offer

Correct Answer
verified

Causes of the decline in the U.S. men's laborforce 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.

Correct Answer
verified

Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.

Correct Answer
verified

In which of the following situations should a firm pay efficiency wages?

Correct Answer
verified

Correct Answer
verified

The unemployment rate never falls to zero.

Correct Answer
verified

When a union is present in a labor market, wages are not determined by the equilibrium of supply and demand.

Correct Answer
verified

What problems arise in interpreting unemployment data?

Correct Answer
verified
Because people move into and out of the ...
View Answer

Which of the following is among the four industries with the largest employment in the United States today?

Correct Answer
verified

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2010 was

Correct Answer
verified

The Bureau of Labor Statistics produces data on

Correct Answer
verified

Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult population in Meditor?

Correct Answer
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Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

Correct Answer
verified

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2012 was

Correct Answer
verified

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

Correct Answer
verified

Employment can rise in one region of the country while it falls in another.

Correct Answer
verified

Cyclical unemployment is closely associated with

Correct Answer
verified

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Correct Answer
verified

Correct Answer
verified

The Bureau of Labor Statistics places people in the "employed" category if they

Correct Answer
verified

Exam 20: Unemployment

Michael decides to hire some additional workers for his roofing company. The equilibrium wage is $17 per hour. Efficiency wage theory suggests that it is reasonable for Michael to offer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.

Correct AnswerverifiedShow Answer

In which of the following situations should a firm pay efficiency wages?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The unemployment rate never falls to zero.

Correct AnswerverifiedShow Answer

When a union is present in a labor market, wages are not determined by the equilibrium of supply and demand.

Correct AnswerverifiedShow Answer

What problems arise in interpreting unemployment data?

Correct AnswerverifiedBecause people move into and out of the ...View AnswerShow Answer

Which of the following is among the four industries with the largest employment in the United States today?

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2010 was

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on

Correct AnswerverifiedShow Answer

Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult population in Meditor?

Correct AnswerverifiedShow Answer

Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

Correct AnswerverifiedShow Answer

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2012 was

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Employment can rise in one region of the country while it falls in another.

Correct AnswerverifiedShow Answer

Cyclical unemployment is closely associated with

Correct AnswerverifiedShow Answer

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics places people in the "employed" category if they

Correct AnswerverifiedShow Answer

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Because people move into and out of the ...
View Answer

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