Exam 33: Jobs and Unemployment

What changes would you suggest to the guaranteed job proposal in the book to make it more politically acceptable? (Note that there are many right answers to this question.The one offered here is one example. )

Okun's rule of thumb states that a:

A reservation wage that is higher than the equilibrium wage creates:

Technological change can result in:

Why didn't unemployment rise during the 2000s, even though the economy faced more and more globalization?

Mexico can produce vine-ripened tomatoes at a lower opportunity cost than firms in the United States. Through trade negotiations, the United States lifted quotas limiting the import of tomatoes from Mexico. Some firms in Florida, in the face of this new competition, had to close their farms and let go their workers. Many of the workers could not find new jobs right away. What type of unemployment describes the workers' situation?

The wage a person requires before accepting a job is referred to as the ________ wage:

In what sense is the guaranteed jobs program preferable to a minimum wage proposal?

Which age group tends to have the highest unemployment rates?

If the guaranteed jobs program outlined in the book were implemented,would any firm pay a wage below the guaranteed job wage? Why might it do so?

What will likely lower cyclical unemployment?

Which of the following groups tend to have the highest unemployment rates?

With respect to the unemployment problem, individual responsibility framework supporters generally take the position that:

Do you agree with the proposition: Eliminating unemployment would be an enormous gain for humankind?

Using Okun's rule of thumb, if trend growth is 2 percent and the unemployment rate rises by 0.5 percent, output would be expected to have:

Which of the following institutional changes would tend to reduce the target rate of unemployment?

A jobs program that offers higher wages to those with higher education:

The target rate of unemployment:

Globalization, accompanied by large trade deficits, most likely raises:

Using Okun's rule of thumb, if trend growth is 3 percent and the unemployment rate falls by 0.5 percent, output would be expected to have: