Exam 28: Unemployment and Its Natural Rate

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

The natural rate of unemployment

Figure 28-4 ​ -Refer to Figure 28-4. If 8,000 workers are unemployed, then the minimum wage must be

Following the recession of 2001, there was a month in which employment and the unemployment rate both rose. Assuming the computations were correct, how is it possible for both to have increased?

The efficiency-wage theory of worker health is

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia in 2012 was

Briefly compare the structural unemployment that arises from minimum-wage laws to the frictional unemployment that arises from the process of job search.

Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics' "unemployed" category.

Which of the following is not a reason economies experience structural unemployment?

Advocates of government-run employment agencies and public training programs believe they make job search more efficient.

Suppose that florists and landscape workers are not unionized. If florists unionize, then the wages of

Structural unemployment is often thought to explain relatively short spells of unemployment.

Labor unions

Scenario 28-1 Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment. -Refer to Scenario 28-1. What is the labor-force participation rate?

Government policy can do nothing about the natural rate of unemployment.

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

Workers waiting for jobs to open up is most closely associated with

A minimum wage that is below the equilibrium wage rate does not raise unemployment.

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

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 $8 in Productionville, how many people would be unemployed?