Question 1

The rate of unemployment in a country is unrelated to its level of GDP.

Accepted Answer

A) True 
 B)False

Question 2

Job search is the process of matching workers with appropriate jobs.

Accepted Answer

A) True 
 B)False

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% 
A) 3.7% 
B) 5.0% 
C) 5.6% 
D) 5.9%

Question 4

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

Accepted Answer

A) are temporarily absent from their jobs. 
B) are self-employed. 
C) work without pay in a family member's business. 
D) All of the above are correct. 
A) are temporarily absent from their jobs. 
B) are self-employed. 
C) work without pay in a family member's business. 
D) All of the above are correct.

Question 5

Provide a definition of the natural rate of unemployment.

Accepted Answer

The amount of unempl

Question 6

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

Accepted Answer

A) 90 million 
B) 160 million 
C) 230 million 
D) 240 million 
A) 90 million 
B) 160 million 
C) 230 million 
D) 240 million

Question 7

Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then

Accepted Answer

A) both the unemployment rate and labor-force participation rate would be higher. 
B) both the unemployment rate and labor-force participation rate would be lower. 
C) the unemployment rate would be higher, and the labor-force participation rate would be higher. 
D) the unemployment rate would be lower, and the labor-force participation rate would be unaffected. 
A) both the unemployment rate and labor-force participation rate would be higher. 
B) both the unemployment rate and labor-force participation rate would be lower. 
C) the unemployment rate would be higher, and the labor-force participation rate would be higher. 
D) the unemployment rate would be lower, and the labor-force participation rate would be unaffected.

Question 8

In 2016 the Bureau of Labor Statistics reported that there were 23.5 million people over age 25 who had no high school degree or its equivalent. Of these 9.7 million were employed and .75 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A) 41.3% and 3.2% 
B) 41.3% and 7.2% 
C) 44.5% and 3.2% 
D) 44.5% and 7.2% 
A) 41.3% and 3.2% 
B) 41.3% and 7.2% 
C) 44.5% and 3.2% 
D) 44.5% and 7.2%

Question 9

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. 
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.

Question 10

The Bureau of Labor Statistics' U-1 measure of joblessness is smaller than its U-6 measure of joblessness.

Accepted Answer

A) True 
 B)False

Question 11

Figure 28-3  
-Refer to Figure 28-3. At the equilibrium wage, how many workers are unemployed?

Accepted Answer

A) 0 
B) 4,000 
C) 5,000 
D) 8,000 
A) 0 
B) 4,000 
C) 5,000 
D) 8,000

Question 12

Table 28-2
Labor Data for Aridia  
-Refer to Table 28-2. The unemployment rate 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 13

Figure 28-4
​  
-Refer to Figure 28-4. If the government imposes a minimum wage of $8, how many workers will be unemployed?

Accepted Answer

A) 0 
B) 2,000 
C) 4,000 
D) 8,000 
A) 0 
B) 2,000 
C) 4,000 
D) 8,000

Question 14

Table 28-6  
-Refer to Table 28-6. What is the U-2 measure of labor underutilization?

Accepted Answer

A) 1.5% 
B) 3.1% 
C) 4.7% 
D) 6.2% 
A) 1.5% 
B) 3.1% 
C) 4.7% 
D) 6.2%

Question 15

The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates.

Accepted Answer

A) True 
 B)False

Question 16

Table 28-7
Below is data about the labor market in the city of Productionville.  
-Refer to Table 28-7. If the local government imposed a minimum wage of $6 in Productionville, how many people would be unemployed?

Accepted Answer

A) 0 
B) 2,000 
C) 3,000 
D) 5,000 
A) 0 
B) 2,000 
C) 3,000 
D) 5,000

Question 17

Efficiency wages

Accepted Answer

A) may increase productivity. 
B) will increase unemployment. 
C) may improve worker health. 
D) All of the above are correct. 
A) may increase productivity. 
B) will increase unemployment. 
C) may improve worker health. 
D) All of the above are correct.

Question 18

In 2016 the Bureau of Labor Statistics reported that there were 71.9 million people over age 25 who had at least a bachelor's degree. Of these 52.1 million were employed and 1.3 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A) 72.5% and 1.8% 
B) 72.5% and 2.4% 
C) 74.3% and 1.8% 
D) 74.3% and 2.4% 
A) 72.5% and 1.8% 
B) 72.5% and 2.4% 
C) 74.3% and 1.8% 
D) 74.3% and 2.4%

Question 19

Figure 28-4
​  
-Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed?

Accepted Answer

A) 0 
B) 4,000 
C) 8,000 
D) 12,000 
A) 0 
B) 4,000 
C) 8,000 
D) 12,000

Question 20

Define the natural rate of unemployment and cyclical unemployment.

Accepted Answer

The natural rate of unemployment refers

Exam 28: Unemployment and Its Natural Rate

The rate of unemployment in a country is unrelated to its level of GDP.

Job search is the process of matching workers with appropriate jobs.

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?

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

Provide a definition of the natural rate of unemployment.

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

Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then

In 2016 the Bureau of Labor Statistics reported that there were 23.5 million people over age 25 who had no high school degree or its equivalent. Of these 9.7 million were employed and .75 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

The Bureau of Labor Statistics' U-1 measure of joblessness is smaller than its U-6 measure of joblessness.

Figure 28-3 -Refer to Figure 28-3. At the equilibrium wage, how many workers are unemployed?

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia

Figure 28-4 ​ -Refer to Figure 28-4. If the government imposes a minimum wage of $8, how many workers will be unemployed?

Table 28-6 -Refer to Table 28-6. What is the U-2 measure of labor underutilization?

The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates.

Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $6 in Productionville, how many people would be unemployed?

Efficiency wages

In 2016 the Bureau of Labor Statistics reported that there were 71.9 million people over age 25 who had at least a bachelor's degree. Of these 52.1 million were employed and 1.3 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Figure 28-4 ​ -Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed?

Define the natural rate of unemployment and cyclical unemployment.

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

Filters

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $8, how many workers will be unemployed?

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed?