Exam 9: Employment and Unemployment

The labor demand curve is ________.

Which of the following statements is true?

The following figure shows wage rate versus quantity of labor. -Refer to the figure above.If S₁ is the labor supply curve and D₁ is the labor demand curve at a balance between recession and boom,what point represents the quantity of labor and wage rate?

Scenario: The labor market equilibrium for ski patrol positions at Bridge Bowls Resort is shown in the figure below. -Refer to the scenario above.Consider the equilibrium in the figure.If this winter is unusually dry and warm without much snow,how is the graph going to change?

Which of the following groups of people would not be considered employed?

Scenario: The labor market equilibrium for ski patrol positions at Bridge Bowls Resort is shown in the figure below. -Given the situation above and assuming that the wage is fixed at w*,How will the new quantity of labor (call it L₂)compare to L* and the equilibrium quantity of labor from the previous question ( call it L₁)?

If the number of potential workers in a country is 25 million and the size of the labor force in the country is 17 million,the number of adults not in the labor force will equal ________.

Which of the following equations is correct?

Areas where whole industries disappear will most likely experience ________.

Scenario: The unemployment rate in Country Y is 6 percent, and the labor force is equals about 200 million people. -Refer to the scenario above.What can we say about the labor force participation rate?

What will happen to the demand curve for workers in cotton farms if the price of cotton falls,assuming all else equal?

Scenario: Jim, Pam, Michael, and Angela all worked for a paper company until the company went out of business. Jim was a salesman, Pam was a receptionist, Michael was the manager, and Angela was an accountant. Once the company went out of business, they all had to look for and consider other work opportunities. -Refer to the scenario above.If none of them are willing to accept a new job with lower pay than they had at the paper company,which person is most likely going to have the most difficult time finding a new job?

The number of adults not in the labor force of a country equals 6 million,and the number of individuals employed is 5 million.If there are 12 million potential adult workers in the economy,what is the current unemployment rate in this country?

The labor supply curve is ________.

In an economy,out of 221.6 million potential workers,180.65 million are employed.If the labor force in the economy is 200.5 million,calculate: a)The number of unemployed workers b)The unemployment rate c)The labor force participation rate d)The number of potential workers who are not a part of the labor force

Scenario: Consider Country A with a population of 2 million people. In Country A, there are 1.5 million people employed; 0.3 million younger than 18, in school or retired; 0.1 million voluntarily unemployed; and 0.1 million people officially unemployed. -Refer to the scenario above.What is the current unemployment rate in Country A?

Which of the following is likely to shift the demand curve for corn farmers leftward,assuming all else equal?

Which of the following statements is true?

As per the records of the Bureau of Labor Statistics (BLS),which of the following was true of the U.S.economy in 2016?

If a firm hires a worker by paying him a wage higher than the value of the marginal product of the worker,________.