Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

The unemployment rate is computed as the number of unemployed

Accepted Answer

A)   divided by the labor force, all times 100.
B)   divided by the number of employed, all times 100.
C)   divided by the adult population, all times 100.
D)   times the labor-force participation rate, all times 100.E) B) and C)
F) A) and D)

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 unemployment rate in Meditor?

Accepted Answer

A)   3.7%
B)   5.0%
C)   5.6%
D)   5.9%E) A) and D)
F) All of the above

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Jenna is searching for a job that suits her tastes about where to live. Mary is looking for a job that makes best use of her skills.

Accepted Answer

A)   Jenna and Mary are both frictionally unemployed.
B)   Jenna and Mary are both structurally unemployed.
C)   Jenna is frictionally unemployed, and Mary is structurally unemployed.
D)   Jenna is structurally unemployed, and Mary is frictionally unemployed.E) A) and B)
F) A) and C)

Question 6

In the U.S., the National Labor Relations Board is the government agency that enforces workers' right to unionize.

Accepted Answer

A) True 
 B)False

Question 7

Table 28-11
2010 Labor Data for Tajnia
 
-Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 18.4 percent.

Accepted Answer

A) True 
 B)False

Question 8

Table 28-8
Below is data about the labor market in the state of Northwoods.
 
-Refer to Table 28-8. If the state government imposed a minimum wage of $8, how many people would be unemployed?

Accepted Answer

A)   0
B)   10,000
C)   20,000
D)   40,000E) C) and D)
F) B) and D)

Question 9

Unions

Accepted Answer

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

Question 10

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 number in the labor force, and the unemployment rate.

Accepted Answer

The labor force is 9...

Question 11

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Accepted Answer

A)   always zero.
B)   sometimes zero.
C)   rarely zero.
D)   never zero.E) A) and C)
F) A) and B)

Question 12

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) A) and D)

Question 13

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

Accepted Answer

A)   increased both from 2010 to 2011 and from 2011 to 2012.
B)   increased from 2010 to 2011 but decreased from 2011 to 2012.
C)   decreased from 2010 to 2011 but increased from 2011 to 2012.
D)   decreased both from 2010 to 2011 and from 2011 to 2012.E) A) and D)
F) A) and B)

Question 14

The growth rate for the American economy is

Accepted Answer

A)   lower in the 21st century than for the previous 250 years.
B)   higher in the 21st century than for the previous 250 years and increasing rapidly.
C)   higher in the 21st century than for the previous 250 years but increasing slowly.
D)   approximately equal in the 21st century and in the previous 250 years.E) A) and D)
F) A) and C)

Question 15

Some long-run unemployment may be explained by the fact that the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one.

Accepted Answer

A) True 
 B)False

Question 16

If an unemployed person quits looking for work, then, eventually the unemployment rate

Accepted Answer

A)   decreases, and the labor-force participation rate is unaffected.
B)   and the labor-force participation rate both decrease.
C)   is unaffected, and the labor-force participation rate decreases.
D)   and the labor-force participation rate are both unaffected.E) B) and C)
F) All of the above

Question 17

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 reduces the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and reduces wages in the rest of the economy.
C)   There is a strong consensus among economists that unions are bad for the U.S. economy.
D)   All of the above are correct.E) A) and B)
F) A) and D)

Question 18

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)   40 million
B)   70 million
C)   100 million
D)   105 millionE) C) and D)
F) All of the above

Question 20

When a union raises the wage above the equilibrium level,

Accepted Answer

A)   both the quantity of labor supplied and unemployment rise.
B)   both the quantity of labor supplied and unemployment fall.
C)   the quantity of labor supplied rises and unemployment falls.
D)   the quantity of labor supplied falls and unemployment rises.E) A) and D)
F) A) and C)

Exam 10: Unemployment and Its Natural Rate

Unions

Correct Answer
verified

Some long-run unemployment may be explained by the fact that the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one.

Correct Answer
verified

The unemployment rate is computed as the number of unemployed

Correct Answer
verified

Jenna is searching for a job that suits her tastes about where to live. Mary is looking for a job that makes best use of her skills.

Correct Answer
verified

The growth rate for the American economy is

Correct Answer
verified

In the U.S., the National Labor Relations Board is the government agency that enforces workers' right to unionize.

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 female population in Meditor?

Correct Answer
verified

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey.

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 male unemployment rate in Meditor?

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

Correct Answer
verified

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

Correct Answer
verified

When a union raises the wage above the equilibrium level,

Correct Answer
verified

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 number in the labor force, and the unemployment rate.

Correct Answer
verified
The labor force is 9...
View Answer

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

Correct Answer
verified

Table 28-8 Below is data about the labor market in the state of Northwoods. -Refer to Table 28-8. If the state government imposed a minimum wage of $8, how many people would be unemployed?

Correct Answer
verified

If an unemployed person quits looking for work, then, eventually the unemployment rate

Correct Answer
verified

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Correct Answer
verified

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 18.4 percent.

Correct Answer
verified

Which of the following is correct?

Correct Answer
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Correct Answer
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Exam 10: Unemployment and Its Natural Rate

Unions

Correct AnswerverifiedShow Answer

Some long-run unemployment may be explained by the fact that the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one.

Correct AnswerverifiedShow Answer

The unemployment rate is computed as the number of unemployed

Correct AnswerverifiedShow Answer

Jenna is searching for a job that suits her tastes about where to live. Mary is looking for a job that makes best use of her skills.

Correct AnswerverifiedShow Answer

The growth rate for the American economy is

Correct AnswerverifiedShow Answer

In the U.S., the National Labor Relations Board is the government agency that enforces workers' right to unionize.

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 female population in Meditor?

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey.

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 male unemployment rate in Meditor?

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When a union raises the wage above the equilibrium level,

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 number in the labor force, and the unemployment rate.

Correct AnswerverifiedThe labor force is 9...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Table 28-8 Below is data about the labor market in the state of Northwoods. -Refer to Table 28-8. If the state government imposed a minimum wage of $8, how many people would be unemployed?

Correct AnswerverifiedShow Answer

If an unemployed person quits looking for work, then, eventually the unemployment rate

Correct AnswerverifiedShow Answer

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Correct AnswerverifiedShow Answer

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 18.4 percent.

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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The labor force is 9...
View Answer

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