Question 1

Which of the following is correct?

Accepted Answer

A)   In unionized industries, wages are below the level that would prevail in competitive markets.
B)   The introduction of a union in an industry increases the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and increases wages in the rest of the economy.
C)   Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
D)   All of the above are correct.E) B) and C)
F) A) and D)

Question 2

Jai Li just lost her job, and she has not yet started looking for a new one. The Bureau of Labor Statistics counts Jai Li as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed but not in the labor force.
C)   in the labor force but not unemployed.
D)   neither in the labor force nor unemployed.E) B) and D)
F) A) and B)

Question 3

Table 28-4
2010 Labor Data for Adults (ages 16 and older)  in Meditor 
-Refer to Table 28-4. What is the adult male labor-force participation rate in Meditor?

Accepted Answer

A)   37%
B)   63%
C)   66.7%
D)   96.3%E) A) and B)
F) All of the above

Question 4

Table 28-7
Below is data about the labor market in the city of Productionville. 
-Refer to Table 28-7. If the local government imposed a minimum wage of $5 in Productionville, how many people would be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   3,000
D)   5,000E) A) and B)
F) None of the above

Question 5

Define the natural rate of unemployment and cyclical unemployment.

Accepted Answer

The natural rate of unemployment refers ...

Question 6

Gwen is an unpaid worker in her family's restaurant. The Bureau of Labor Statistics counts Gwen 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) C) and D)
F) All of the above

Question 7

The labor-force participation rate tells us the fraction of the population that

Accepted Answer

A)   is able to participate in the labor market.
B)   has ever been employed.
C)   has chosen to participate in the labor market.
D)   has chosen not to participate in the labor market.E) B) and C)
F) None of the above

Question 8

Job search

Accepted Answer

A)   and firms paying wages above equilibrium to improve worker health both create frictional unemployment.
B)   creates frictional unemployment, while firms paying wages above equilibrium to improve worker health creates structural unemployment.
C)   creates structural unemployment, while firms paying wages above equilibrium to improve worker health creates frictional unemployment.
D)   and firms paying wages above equilibrium to improve worker health both create structural unemployment.E) None of the above
F) A) and D)

Question 9

Figure 28-3 
-Refer to Figure 28-3. If unemployment is 2,000 workers, then the minimum wage must be

Accepted Answer

A)   $4.
B)   $5.
C)   $7.
D)   $8.E) A) and D)
F) A) and B)

Question 10

Within the U.S. population, women of prime working age (ages 25-54) have similar rates of labor-force participation than men of prime working age (ages 25-54), regardless of race.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following includes everyone in the adult population that the Bureau of Labor Statistics counts as "unemployed"?

Accepted Answer

A)   anyone who is not employed
B)   anyone who is not employed, is available for work, and has looked for work in the past four weeks
C)   anyone who is not employed, is available for work, has looked for work in the past four weeks, and anyone who is waiting to be recalled from a job from which they have been laid off
D)   anyone who is not employed, is available for work, has looked for work in the past four weeks, anyone who is waiting to be recalled from a job from which they have been laid off, and anyone who is employed part time and has searched for full time employment in the past 4 weeksE) None of the above
F) B) and D)

Question 12

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 13

A firm may pay efficiency wages in an attempt to

Accepted Answer

A)   reduce incentives to shirk.
B)   reduce turnover.
C)   attract a well-qualified pool of applicants.
D)   All of the above are correct.E) None of the above
F) C) and D)

Question 14

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 C)
F) B) and C)

Question 15

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) B) and C)
F) All of the above

Question 16

Figure 28-3 
-Refer to Figure 28-3. If the government imposes a minimum wage of $4, then unemployment will increase by

Accepted Answer

A)   0 workers.
B)   2,000 workers.
C)   4,000 workers.
D)   5,000 workers.E) B) and D)
F) B) and C)

Question 17

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) A) and D)

Question 18

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 19

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had decreased.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

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

The labor-force participation rate tells us the fraction of the population that

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

Correct AnswerverifiedShow Answer

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Correct AnswerverifiedShow Answer

Gwen is an unpaid worker in her family's restaurant. The Bureau of Labor Statistics counts Gwen as

Correct AnswerverifiedShow Answer

Which of the following includes everyone in the adult population that the Bureau of Labor Statistics counts as "unemployed"?

Correct AnswerverifiedShow Answer

A firm may pay efficiency wages in an attempt to

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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

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $4, then unemployment will increase by

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

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Jai Li just lost her job, and she has not yet started looking for a new one. The Bureau of Labor Statistics counts Jai Li as

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Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $5 in Productionville, how many people would be unemployed?

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Job search

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Define the natural rate of unemployment and cyclical unemployment.

Correct AnswerverifiedThe natural rate of unemployment refers ...View AnswerShow Answer

Within the U.S. population, women of prime working age (ages 25-54) have similar rates of labor-force participation than men of prime working age (ages 25-54), regardless of race.

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

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Figure 28-3 -Refer to Figure 28-3. If unemployment is 2,000 workers, then the minimum wage must be

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Table 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult male labor-force participation rate in Meditor?

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Which of the following is correct?

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Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had decreased.

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The natural rate of unemployment refers ...
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