Question 1

Who of the following would necessarily be included in the Bureau of Labor Statistics' "unemployed" category?

Accepted Answer

A) Huey, who did not work during the previous four weeks 
B) Dewey, who tried to find new employment during the previous four weeks 
C) Louie, who was an unpaid worker during the previous four weeks 
D) None of the above is correct. 
A) Huey, who did not work during the previous four weeks 
B) Dewey, who tried to find new employment during the previous four weeks 
C) Louie, who was an unpaid worker during the previous four weeks 
D) None of the above is correct.

Question 2

Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a

Accepted Answer

A) higher unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be higher. 
B) higher unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment. 
C) lower unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be lower. 
D) lower unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment. 
A) higher unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be higher. 
B) higher unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment. 
C) lower unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be lower. 
D) lower unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment.

Question 3

Spells of unemployment end about

Accepted Answer

A) 1/5 of the time with the person leaving the labor force. 
B) 1/4 of the time with the person leaving the labor force. 
C) 1/3 of the time with the person leaving the labor force. 
D) 1/2 of the time with the person leaving the labor force. 
A) 1/5 of the time with the person leaving the labor force. 
B) 1/4 of the time with the person leaving the labor force. 
C) 1/3 of the time with the person leaving the labor force. 
D) 1/2 of the time with the person leaving the labor force.

Question 4

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

Accepted Answer

A) 50 million 
B) 90 million 
C) 130 million 
D) 135 million 
A) 50 million 
B) 90 million 
C) 130 million 
D) 135 million

Question 5

Three employers have justified their actions as follows. Whose logic is not consistent with the logic of efficiency wage theory?

Accepted Answer

A) Instead of spending money on an electronic timing system that monitors worker hours, Tom spends an equivalent amount of money on higher wages. 
B) Dick pays his workers less than the equilibrium wage so that they will not have the time or money to look for work somewhere else. 
C) Harry pays his workers in a developing country more than the going wage hoping that they will get a better diet and so be more productive. 
D) None of the above is consistent with the logic of efficiency wage theory. 
A) Instead of spending money on an electronic timing system that monitors worker hours, Tom spends an equivalent amount of money on higher wages. 
B) Dick pays his workers less than the equilibrium wage so that they will not have the time or money to look for work somewhere else. 
C) Harry pays his workers in a developing country more than the going wage hoping that they will get a better diet and so be more productive. 
D) None of the above is consistent with the logic of efficiency wage theory.

Question 6

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Accepted Answer

A) rise. The supply of workers in other similar professions will also rise. 
B) rise. The supply of workers in other similar professions will fall. 
C) fall. The supply of workers in other similar professions will rise. 
D) fall. The supply of workers in other similar professions will also fall. 
A) rise. The supply of workers in other similar professions will also rise. 
B) rise. The supply of workers in other similar professions will fall. 
C) fall. The supply of workers in other similar professions will rise. 
D) fall. The supply of workers in other similar professions will also fall.

Question 7

The Bureau of Labor Statistics places people in the "employed" category if they

Accepted Answer

A) are without a job, but are available for work and have tried to find a job during the previous four weeks. 
B) work without pay in a family member's business. 
C) are waiting to be recalled to a job from which they had been laid off. 
D) All of the above are correct. 
A) are without a job, but are available for work and have tried to find a job during the previous four weeks. 
B) work without pay in a family member's business. 
C) are waiting to be recalled to a job from which they had been laid off. 
D) All of the above are correct.

Question 8

Which of the following is correct?

Accepted Answer

A) The amount of unemployment that a country typically experiences is a determinant of that country's standard of living, and some degree of unemployment is inevitable in a complex economy. 
B) The amount of unemployment that a country typically experiences is a determinant of that country's standard of living, and a complex economy can achieve zero unemployment. 
C) The amount of unemployment that a country typically experiences is not a determinant of that country's standard of living, and a complex economy can achieve zero unemployment. 
D) The amount of unemployment that a country typically experiences is not a determinant of that country's standard of living, and some degree of unemployment is inevitable in a complex economy. 
A) The amount of unemployment that a country typically experiences is a determinant of that country's standard of living, and some degree of unemployment is inevitable in a complex economy. 
B) The amount of unemployment that a country typically experiences is a determinant of that country's standard of living, and a complex economy can achieve zero unemployment. 
C) The amount of unemployment that a country typically experiences is not a determinant of that country's standard of living, and a complex economy can achieve zero unemployment. 
D) The amount of unemployment that a country typically experiences is not a determinant of that country's standard of living, and some degree of unemployment is inevitable in a complex economy.

Question 9

If there were no factors keeping wages from reaching equilibrium then there would be no

Accepted Answer

A) cyclical unemployment. 
B) frictional unemployment. 
C) structural unemployment. 
D) natural rate of unemployment. 
A) cyclical unemployment. 
B) frictional unemployment. 
C) structural unemployment. 
D) natural rate of unemployment.

Question 10

According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?​

Accepted Answer

A) Black females had higher labor-force participation rates and lower unemployment rates compared to white females. 
B) Black females had similar labor-force participation rates and higher unemployment rates compared to white females. 
C) Black females had both lower labor-force participation rates and lower unemployment rates compared to white females. 
D) Black females had lower labor-force participation rates and higher unemployment rates compared to white females. 
A) Black females had higher labor-force participation rates and lower unemployment rates compared to white females. 
B) Black females had similar labor-force participation rates and higher unemployment rates compared to white females. 
C) Black females had both lower labor-force participation rates and lower unemployment rates compared to white females. 
D) Black females had lower labor-force participation rates and higher unemployment rates compared to white females.

Question 11

Explain the effect of right-to-work laws on the collective bargaining power of labor unions.

Accepted Answer

Right-to-work laws decrease th

Question 12

If the wage is kept above the equilibrium wage for any reason, the result is

Accepted Answer

A) cyclical unemployment. 
B) frictional unemployment. 
C) seasonal unemployment. 
D) structural unemployment. 
A) cyclical unemployment. 
B) frictional unemployment. 
C) seasonal unemployment. 
D) structural unemployment.

Question 13

Which of the following is correct?

Accepted Answer

A) The labor-force participation rate of women has increased in part due to smaller families. 
B) The labor-force participation rate of men has decreased in part due to men retiring younger and living longer. 
C) Both a and b are correct. 
D) Neither a nor b is correct. 
A) The labor-force participation rate of women has increased in part due to smaller families. 
B) The labor-force participation rate of men has decreased in part due to men retiring younger and living longer. 
C) Both a and b are correct. 
D) Neither a nor b is correct.

Question 14

Maury did not work last week because fire forced an evacuation of his workplace. The Bureau of Labor Statistics counts Maury 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. 
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.

Question 15

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. 
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.

Question 16

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

Accepted Answer

A) be available for work. 
B) have tried to find employment during the previous week. 
C) have previously been employed. 
D) All of the above are correct. 
A) be available for work. 
B) have tried to find employment during the previous week. 
C) have previously been employed. 
D) All of the above are correct.

Question 17

People who are unemployed because of job search are best classified as

Accepted Answer

A) cyclically unemployed. 
B) structurally unemployed. 
C) frictionally unemployed. 
D) discouraged workers. 
A) cyclically unemployed. 
B) structurally unemployed. 
C) frictionally unemployed. 
D) discouraged workers.

Question 18

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually increased.

Accepted Answer

A) True 
 B)False

Question 19

When a union raises the wage above the equilibrium level, it

Accepted Answer

A) reduces both the quantity of labor supplied and the quantity of labor demanded. 
B) reduces the quantity of labor supplied and raises the quantity of labor demanded. 
C) raises the quantity of labor supplied and reduces the quantity of labor demanded. 
D) raises both the quantity of labor supplied and the quantity of labor demanded. 
A) reduces both the quantity of labor supplied and the quantity of labor demanded. 
B) reduces the quantity of labor supplied and raises the quantity of labor demanded. 
C) raises the quantity of labor supplied and reduces the quantity of labor demanded. 
D) raises both the quantity of labor supplied and the quantity of labor demanded.

Question 20

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 U-5 unemployment rate.

Accepted Answer

The answer of Table 28-10
The table below lists the number...

Exam 28: Unemployment and Its Natural Rate

Who of the following would necessarily be included in the Bureau of Labor Statistics' "unemployed" category?

Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a

Spells of unemployment end about

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

Three employers have justified their actions as follows. Whose logic is not consistent with the logic of efficiency wage theory?

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

The Bureau of Labor Statistics places people in the "employed" category if they

Which of the following is correct?

If there were no factors keeping wages from reaching equilibrium then there would be no

According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?​

Explain the effect of right-to-work laws on the collective bargaining power of labor unions.

If the wage is kept above the equilibrium wage for any reason, the result is

Which of the following is correct?

Maury did not work last week because fire forced an evacuation of his workplace. The Bureau of Labor Statistics counts Maury as

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

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

People who are unemployed because of job search are best classified as

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually increased.

When a union raises the wage above the equilibrium level, it

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 U-5 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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According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?