Question 1

Lucy quit her job because she was unhappy at work. Genevieve was fired because she frequently surfed the Internet rather than working on her assigned tasks. Who is eligible for unemployment insurance benefits?

Accepted Answer

A)   both Lucy and Genevieve
B)   Lucy but not Genevieve
C)   Genevieve but not Lucy
D)   neither Lucy nor GenevieveE) A) and B)
F) A) and C)

Question 2

Critics of government-run employment agencies and public training programs argue that the private market is better at matching workers and jobs than the government is.

Accepted Answer

A) True 
 B)False

Question 3

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Japanese adult non- institutionalized population was 110.272 million, the labor force was 65.362 million, and the number of people employed was 62.242 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about

Accepted Answer

A)   56.4% and 2.8%.
B)   56.4% and 4.8%.
C)   59.3% and 2.8%.
D)   59.3% and 4.8%.E) A) and D)
F) All of the above

Question 4

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Accepted Answer

A) True 
 B)False

Question 5

Matilda just graduated from college. In order to devote all her efforts to college, she didn't hold a job. She is going to tour around the country on her motorcycle for a month before she starts looking for work. Other things the same, the unemployment rate

Accepted Answer

A)   increases, and the labor-force participation rate decreases.
B)   and the labor-force participation rate both increase.
C)   increases, and the labor-force participation rate is unaffected.
D)   and the labor-force participation rate are both unaffected.E) None of the above
F) A) and C)

Question 6

An increase in the minimum wage

Accepted Answer

A)   increases both the quantity demanded and the quantity supplied of labor.
B)   decreases both the quantity demanded and the quantity supplied of labor.
C)   increases the quantity of labor demanded but decreases the quantity of labor supplied.
D)   decreases the quantity of labor demanded but increases the quantity of labor supplied.E) A) and B)
F) A) and C)

Question 7

Providing training for unemployed individuals is primarily intended to reduce

Accepted Answer

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

Question 8

Figure 28-7 
-Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Accepted Answer

The answer of Figure 28-7 
-Refer to Figure 28-7. At...

Question 9

To maintain their standard of living, most people rely on

Accepted Answer

A)   government assistance.
B)   their personal savings.
C)   their labor earnings.
D)   rental income.E) A) and B)
F) A) and C)

Question 10

Rafael is the newly­appointed plant manager for a company that manufactures head phones. Rafael's senior supervisors told him that the output the firm produces, given the number of workers employed, indicates that some workers may be shirking. According to efficiency wage theory, what should he do?

Accepted Answer

A)   pay all workers more than the equilibrium wage rate
B)   pay all workers below the equilibrium wage rate to make up for the loss from shirking
C)   make sure that workers are getting paid exactly the equilibrium wage rate
D)   fire the workers with the most seniorityE) B) and D)
F) B) and C)

Question 11

The adult population in the town of Shelbyville is 150 thousand. If 100 thousand people are employed and 20 thousand are unemployed, then the labor force participation rate is approximately

Accepted Answer

A)   67%.
B)   80%.
C)   16%.
D)   13%.E) B) and C)
F) A) and B)

Question 12

What problems arise in interpreting unemployment data?

Accepted Answer

Because people move into and out of the ...

Question 13

Data show that at least 10 percent of U.S. manufacturing jobs are destroyed every year.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is an example of an efficiency wage?

Accepted Answer

A)   a high wage paid to compensate for dangerous work such as coal mining
B)   an above-equilibrium wage offered by a firm to attract a more talented pool of job applicants
C)   a wage below the minimum wage but supplemented by customer tips
D)   a high wage paid to a college graduate for a high-skill job such as electrical engineeringE) B) and D)
F) B) and C)

Question 15

Measuring unemployment is the job of the Bureau of Labor Statistics.

Accepted Answer

A) True 
 B)False

Question 16

Spells of unemployment end about

Accepted Answer

A)   1/5 of the time with the person leaving the labor force.
B)   1/4 of the time with the person leaving the labor force.
C)   1/3 of the time with the person leaving the labor force.
D)   1/2 of the time with the person leaving the labor force.E) A) and D)
F) A) and B)

Question 17

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 18

Who among the following would be counted as "unemployed"?

Accepted Answer

A)   Shasta, who is waiting to be recalled to a job from which she has been laid off.
B)   Karen, who neither has a job nor is looking for one.
C)   Mary, who worked only 35 hours last week.
D)   None of the above is correct.E) A) and B)
F) A) and C)

Question 19

Structural unemployment is often thought to explain relatively long spells of unemployment.

Accepted Answer

A) True 
 B)False

Question 20

The natural rate of unemployment is the

Accepted Answer

A)   unemployment rate that would prevail with zero inflation.
B)   rate associated with the highest possible level of GDP.
C)   difference between the long-run and short-run unemployment rates.
D)   amount of unemployment that the economy normally experiences.E) All of the above
F) B) and C)

Exam 15: Unemployment

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Correct Answer
verified

Structural unemployment is often thought to explain relatively long spells of unemployment.

Correct Answer
verified

Critics of government-run employment agencies and public training programs argue that the private market is better at matching workers and jobs than the government is.

Correct Answer
verified

Spells of unemployment end about

Correct Answer
verified

An increase in the minimum wage

Correct Answer
verified

To maintain their standard of living, most people rely on

Correct Answer
verified

Data show that at least 10 percent of U.S. manufacturing jobs are destroyed every year.

Correct Answer
verified

Figure 28-7 -Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Correct Answer
verified

What problems arise in interpreting unemployment data?

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

Who among the following would be counted as "unemployed"?

Correct Answer
verified

Lucy quit her job because she was unhappy at work. Genevieve was fired because she frequently surfed the Internet rather than working on her assigned tasks. Who is eligible for unemployment insurance benefits?

Correct Answer
verified

Matilda just graduated from college. In order to devote all her efforts to college, she didn't hold a job. She is going to tour around the country on her motorcycle for a month before she starts looking for work. Other things the same, the unemployment rate

Correct Answer
verified

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

Correct Answer
verified

The adult population in the town of Shelbyville is 150 thousand. If 100 thousand people are employed and 20 thousand are unemployed, then the labor force participation rate is approximately

Correct Answer
verified

Measuring unemployment is the job of the Bureau of Labor Statistics.

Correct Answer
verified

Which of the following is an example of an efficiency wage?

Correct Answer
verified

The natural rate of unemployment is the

Correct Answer
verified

Providing training for unemployed individuals is primarily intended to reduce

Correct Answer
verified

Rafael is the newlyappointed plant manager for a company that manufactures head phones. Rafael's senior supervisors told him that the output the firm produces, given the number of workers employed, indicates that some workers may be shirking. According to efficiency wage theory, what should he do?

Correct Answer
verified

Correct Answer
verified

Exam 15: Unemployment

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Correct AnswerverifiedShow Answer

Structural unemployment is often thought to explain relatively long spells of unemployment.

Correct AnswerverifiedShow Answer

Critics of government-run employment agencies and public training programs argue that the private market is better at matching workers and jobs than the government is.

Correct AnswerverifiedShow Answer

Spells of unemployment end about

Correct AnswerverifiedShow Answer

An increase in the minimum wage

Correct AnswerverifiedShow Answer

To maintain their standard of living, most people rely on

Correct AnswerverifiedShow Answer

Data show that at least 10 percent of U.S. manufacturing jobs are destroyed every year.

Correct AnswerverifiedShow Answer

Figure 28-7 -Refer to Figure 28-7. At a minimum wage of $125, how much is the surplus of labor?

Correct AnswerverifiedShow Answer

What problems arise in interpreting unemployment data?

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

Who among the following would be counted as "unemployed"?

Correct AnswerverifiedShow Answer

Lucy quit her job because she was unhappy at work. Genevieve was fired because she frequently surfed the Internet rather than working on her assigned tasks. Who is eligible for unemployment insurance benefits?

Correct AnswerverifiedShow Answer

Matilda just graduated from college. In order to devote all her efforts to college, she didn't hold a job. She is going to tour around the country on her motorcycle for a month before she starts looking for work. Other things the same, the unemployment rate

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 adult population in the town of Shelbyville is 150 thousand. If 100 thousand people are employed and 20 thousand are unemployed, then the labor force participation rate is approximately

Correct AnswerverifiedShow Answer

Measuring unemployment is the job of the Bureau of Labor Statistics.

Correct AnswerverifiedShow Answer

Which of the following is an example of an efficiency wage?

Correct AnswerverifiedShow Answer

The natural rate of unemployment is the

Correct AnswerverifiedShow Answer

Providing training for unemployed individuals is primarily intended to reduce

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct Answer
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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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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