Question 1

The Bureau of Labor Statistics produces data on unemployment by using data on claims filed for unemployment insurance.

Accepted Answer

A) True 
 B)False

Question 2

Unions are exempt from U.S. antitrust laws.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Government-run employment agencies and public training programs both seek to reduce frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 5

Figure 28-3  
-Refer to Figure 28-3. If the government imposes a minimum wage of $8, then unemployment will increase by

Accepted Answer

A) 0 workers. 
B) 2,000 workers. 
C) 4,000 workers. 
D) 7,000 workers. 
A) 0 workers. 
B) 2,000 workers. 
C) 4,000 workers. 
D) 7,000 workers.

Question 6

Write the formula for calculating the labor force participation rate.

Accepted Answer

The answer of Write the formula for calculating the labor...

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Within the U.S. population, teenagers (ages 16-19) have higher rates of unemployment than adults of prime working age (ages 25-54), regardless of race or gender.

Accepted Answer

A) True 
 B)False

Question 9

If people who report being unemployed are not, in fact, trying hard to find a job, then the reported unemployment rate will be biased upward.

Accepted Answer

A) True 
 B)False

Question 10

The amount of unemployment varies

Accepted Answer

A) little over time and across countries. 
B) little over time but substantially across countries. 
C) substantially over time but little across countries. 
D) substantially over time and across countries. 
A) little over time and across countries. 
B) little over time but substantially across countries. 
C) substantially over time but little across countries. 
D) substantially over time and across countries.

Question 11

Table 28-11
2015 Labor Data for Tajnia  
-Refer to Table 28-11. The unemployment rate in Tajnia in 2015 is about 7.5 percent.

Accepted Answer

A) True 
 B)False

Question 12

Buddy is the owner of a firm that bottles beer in St. Louis, Missouri. There are many other such firms in the area. Buddy decides that if he pays his workers a wage higher than the going market wage, his profits will increase. Which of the following is a likely explanation for his decision?

Accepted Answer

A) The higher the wage, the less often his workers will choose to leave his firm. 
B) The higher the wage, the lower will be the costs of obtaining needed supplies. 
C) The higher the wage, the more he can charge for his beer 
D) The higher the wage, the more he will have to monitor his workers for shirking. 
A) The higher the wage, the less often his workers will choose to leave his firm. 
B) The higher the wage, the lower will be the costs of obtaining needed supplies. 
C) The higher the wage, the more he can charge for his beer 
D) The higher the wage, the more he will have to monitor his workers for shirking.

Question 13

Suppose that medical technicians and nurses' aides are not unionized. If the nurses' aides unionize, then the wages of

Accepted Answer

A) both medical technicians and nurses' aides will rise. 
B) both medical technicians and nurses' aides will fall. 
C) medical technicians will rise, and the wages of nurses' aides will fall. 
D) nurses' aides will rise, and the wages of medical technicians will fall. 
A) both medical technicians and nurses' aides will rise. 
B) both medical technicians and nurses' aides will fall. 
C) medical technicians will rise, and the wages of nurses' aides will fall. 
D) nurses' aides will rise, and the wages of medical technicians will fall.

Question 14

The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed.

Accepted Answer

A) True 
 B)False

Question 15

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. 
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.

Question 16

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

Accepted Answer

A) 40 million 
B) 65 million 
C) 70 million 
D) 100 million 
A) 40 million 
B) 65 million 
C) 70 million 
D) 100 million

Question 17

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. 
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.

Question 18

Marginally attached workers are people who are

Accepted Answer

A) looking for a better job than they currently have. 
B) not working and are not looking for work, but would work if asked. 
C) working part-time while they go to school or get training for a better job. 
D) only a few years from retirement. 
A) looking for a better job than they currently have. 
B) not working and are not looking for work, but would work if asked. 
C) working part-time while they go to school or get training for a better job. 
D) only a few years from retirement.

Question 19

People who report being not in the labor force but who, in fact, want to work but have given up trying to find a job after an unsuccessful search cause the reported unemployment rate to be lower than it would otherwise be.

Accepted Answer

A) True 
 B)False

Question 20

The Bureau of Labor Statistics' U-5 measure of joblessness is the official unemployment rate.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment and Its Natural Rate

The Bureau of Labor Statistics produces data on unemployment by using data on claims filed for unemployment insurance.

Unions are exempt from U.S. antitrust laws.

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

Government-run employment agencies and public training programs both seek to reduce frictional unemployment.

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $8, then unemployment will increase by

Write the formula for calculating the labor force participation rate.

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

Within the U.S. population, teenagers (ages 16-19) have higher rates of unemployment than adults of prime working age (ages 25-54), regardless of race or gender.

If people who report being unemployed are not, in fact, trying hard to find a job, then the reported unemployment rate will be biased upward.

The amount of unemployment varies

Table 28-11 2015 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate in Tajnia in 2015 is about 7.5 percent.

Buddy is the owner of a firm that bottles beer in St. Louis, Missouri. There are many other such firms in the area. Buddy decides that if he pays his workers a wage higher than the going market wage, his profits will increase. Which of the following is a likely explanation for his decision?

Suppose that medical technicians and nurses' aides are not unionized. If the nurses' aides unionize, then the wages of

The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed.

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

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

Minimum-wage laws can keep wages

Marginally attached workers are people who are

People who report being not in the labor force but who, in fact, want to work but have given up trying to find a job after an unsuccessful search cause the reported unemployment rate to be lower than it would otherwise be.

The Bureau of Labor Statistics' U-5 measure of joblessness is the official unemployment rate.

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Application

Supply, Demand, and Government Policies

Consumers, Producers, and the Efficiency of Markets

Applications: the Costs of Taxation

Application: International Trade

Externalities

Public Goods and Common Resources

The Design of the Tax System

The Costs of Production

Firms in Competitive Markets

Monopoly

Monopolistic Competition

Oligopoly

The Markets for the Factors of Production

Earnings and Discrimination

Income Inequality and Poverty

The Theory of Consumer Choice

Frontiers in Microeconomics

Measuring a Nation S Income

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

Tools of Finance

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Tradeoff Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

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