Question 1

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Accepted Answer

A) True 
 B)False

Question 2

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

Accepted Answer

A) True 
 B)False

Question 3

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no

Accepted Answer

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

Question 4

Monique is the newly appointed CEO of a company that manufactures external hard drives on an assembly line.Her staff has told her 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 she 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)   pay bonuses to workers who report the shirking of other workersE) A) and D)
F) B) and C)

Question 5

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the lowest labor-force participation rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) C) and D)
F) All of the above

Question 6

For the Bureau of Labor Statistics to place someone in the "unemployed" category,that person must

Accepted Answer

A)   have worked no more than 10 hours during the past week..
B)   have tried to find employment during the previous year.
C)   not have been laid off.
D)   None of the above is correct.E) A) and B)
F) A) and C)

Question 7

The Bureau of Labor Statistics divides the adult population into four categories: employed,underemployed,unemployed,and not in the labor force.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is not correct?

Accepted Answer

A)   The unemployment rate is an imperfect measure of a nation's overall level of economic well-being.
B)   Most job search in the U.S.economy takes place without intervention by the government.
C)   Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.
D)   Other things the same,countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.E) B) and D)
F) C) and D)

Question 9

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job

Accepted Answer

A)   is counted as out of the labor force but should be counted as unemployed.
B)   is counted as unemployed but should be counted as out of the labor force.
C)   is correctly counted as out of the labor force.
D)   is correctly counted as unemployed.E) A) and B)
F) All of the above

Question 10

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Accepted Answer

A) True 
 B)False

Question 11

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) None of the above
F) B) and C)

Question 12

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Accepted Answer

A) True 
 B)False

Question 13

Most spells of unemployment are short,and most unemployment observed at any given time is short-term.

Accepted Answer

A) True 
 B)False

Question 14

Bob is looking for work after school,but everywhere he fills out an application,the managers say they always have a lot more applications than open positions.Tom has a law degree.Several firms have made him offers,but he thinks he might be able to find a firm where his talents could be put to better use.

Accepted Answer

A)   Bob and Tom are both frictionally unemployed.
B)   Bob and Tom are both structurally unemployed.
C)   Bob is frictionally unemployed,and Tom is structurally unemployed.
D)   Bob is structurally unemployed,and Tom is frictionally unemployed.E) All of the above
F) A) and B)

Question 15

When unions raise wages in one part of the economy,the supply of labor increases in other parts of the economy,which reduces wages in industries that are not unionized.

Accepted Answer

A) True 
 B)False

Question 16

Suppose that furniture factory worker are unionized.If these workers decide not to be unionized,

Accepted Answer

A)   the quantity of furniture factory workers demanded will rise.The supply of workers in other industries will also rise.
B)   the quantity of furniture factory workers demanded will rise.The supply of workers in other industries will fall.
C)   the quantity of furniture factory workers demanded will fall.The supply of workers in other industries will rise.
D)   the quantity of furniture factory workers demanded will fall.The supply of workers in other industries will also fall.E) B) and D)
F) B) and C)

Question 17

Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 18

Every adult who was not employed during the previous 4 weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 19

Table 20-1
Labor Data for Aridia
 
-Refer to Table 20-1.The unemployment rate of Aridia in 2010 was

Accepted Answer

A)   10%.
B)   12.5%.
C)   14.3%.
D)   80%.E) B) and D)
F) B) and C)

Question 20

Minimum-wage laws can keep wages

Accepted Answer

A)   above equilibrium and cause a surplus of labor.
B)   above equilibrium and cause a shortage of labor.
C)   below equilibrium and cause a surplus of labor.
D)   below equilibrium and cause a shortage of labor.E) B) and D)
F) B) and C)

Exam 20: Unemployment

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

Correct Answer
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An increase in the minimum wage

Correct Answer
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Correct Answer
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Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics' "unemployed" category.

Correct Answer
verified

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the lowest labor-force participation rate?

Correct Answer
verified

Suppose that furniture factory worker are unionized.If these workers decide not to be unionized,

Correct Answer
verified

Most spells of unemployment are short,and most unemployment observed at any given time is short-term.

Correct Answer
verified

Which of the following is not correct?

Correct Answer
verified

Table 20-1 Labor Data for Aridia -Refer to Table 20-1.The unemployment rate of Aridia in 2010 was

Correct Answer
verified

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Correct Answer
verified

For the Bureau of Labor Statistics to place someone in the "unemployed" category,that person must

Correct Answer
verified

The Bureau of Labor Statistics divides the adult population into four categories: employed,underemployed,unemployed,and not in the labor force.

Correct Answer
verified

Every adult who was not employed during the previous 4 weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Correct Answer
verified

When unions raise wages in one part of the economy,the supply of labor increases in other parts of the economy,which reduces wages in industries that are not unionized.

Correct Answer
verified

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job

Correct Answer
verified

Minimum-wage laws can keep wages

Correct Answer
verified

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no

Correct Answer
verified

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Correct Answer
verified

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Correct Answer
verified

Monique is the newly appointed CEO of a company that manufactures external hard drives on an assembly line.Her staff has told her 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 she do?

Correct Answer
verified

Exam 20: Unemployment

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

Correct AnswerverifiedShow Answer

An increase in the minimum wage

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the lowest labor-force participation rate?

Correct AnswerverifiedShow Answer

Suppose that furniture factory worker are unionized.If these workers decide not to be unionized,

Correct AnswerverifiedShow Answer

Most spells of unemployment are short,and most unemployment observed at any given time is short-term.

Correct AnswerverifiedShow Answer

Which of the following is not correct?

Correct AnswerverifiedShow Answer

Table 20-1 Labor Data for Aridia -Refer to Table 20-1.The unemployment rate of Aridia in 2010 was

Correct AnswerverifiedShow Answer

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Correct AnswerverifiedShow Answer

For the Bureau of Labor Statistics to place someone in the "unemployed" category,that person must

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics divides the adult population into four categories: employed,underemployed,unemployed,and not in the labor force.

Correct AnswerverifiedShow Answer

Every adult who was not employed during the previous 4 weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

When unions raise wages in one part of the economy,the supply of labor increases in other parts of the economy,which reduces wages in industries that are not unionized.

Correct AnswerverifiedShow Answer

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job

Correct AnswerverifiedShow Answer

Minimum-wage laws can keep wages

Correct AnswerverifiedShow Answer

If all workers and all jobs were the same such that all workers were equally well suited for all jobs,then there would be no

Correct AnswerverifiedShow Answer

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Correct AnswerverifiedShow Answer

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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