Exam 9: Employment and Unemployment

The following table compares labor statistics for two countries. -Refer to the table above.What is true about the number of unemployed workers in Country A relative to Country B?

The size of the labor force in a country is equal to the ________.

The following figure shows wage rate versus quantity of labor. -Refer to the figure above.If the economy then goes into a recession,what will happen to the demand for labor and the wage rate?

If there are 48 million people in a country's labor force and the number of potential adult workers in the country is 80 million,the labor force participation rate in the economy is ________.

If the number of employed workers in an economy is 8 million,the number of potential workers in the economy is 12 million,and the number of adults not in the labor force is 1 million,the number of unemployed people in the economy will equal ________.

Which of the following is likely to shift the labor supply curve to the right,assuming all else equal?

The following figure shows wage rate versus quantity of labor. -Refer to the figure above.If S₀ is the supply of labor,D₀ is the labor demand curve during a cyclical downturn,and D₁ is the labor demand curve during a cyclical expansion,which expression best represents the natural rate of unemployment?

Areas where whole industries disappear will most likely experience ________.

The following figure illustrates the labor demand curve,LD₁,and labor supply curve,LS₁,in the market for engineers. a)What are the equilibrium wage rate and employment level in the market? b)If the government thinks that engineers are underpaid in the country and fixes a minimum wage of $50 per hour,what will be the impact on the level of employment? c)If engineers unionize themselves and negotiate a wage that is $30 higher than the market-clearing wage,what will be the impact on the employment level?

If the unemployment rate among workers without a high school diploma in the United States is represented by NS,the unemployment rate among workers with a high school diploma in the United States is represented by HS,and the unemployment rate among workers with a bachelor's degree in the United States is represented by BS,then which of the following statements is true?

Unemployment arising from job search is called ________.

The following figure shows wage versus labor demand. -Refer to the figure above.If there is an increase in the number of women in the labor market who have children and stay home with them instead of working,what will happen to the quantity of labor in the labor market?

Which of the following statements is true?

If the number of discouraged workers in a country increases,________.

Scenario: 100 people live in Country X, and 60 of these people are working full time. Tara and Jen have been able to find only part-time jobs. John, Peter, and Luna just had to close their coffee shop; and John and Peter are looking for a new business venture. Luna has inherited a large sum of money and feels that she does need to work anymore. Her sister Sara feels the same way. Four people in Country X are living in care facilities. Ten people are full-time students, and two of them currently are hoping to find a job. All other people are retirees or under the age of 16. -Refer to the scenario above.How would the unemployment rate change if two more students decide to look for work?

The following figure shows curves for labor demand and labor supply. -Refer to the figure above.Collective bargaining leads to the negotiation of a new wage rate in the labor market.Which of the shifts in the quantity of labor supplied may be observed as a result of the negotiations?

The following figure shows wage versus labor demand. -Refer to the figure above.The shift from the labor supply curve to the new labor supply curve could be caused by ________.

The following table compares labor statistics for two countries. -Refer to the table above.Country A's unemployment rate is about ________,and Country B's unemployment rate is about ________.

Scenario: Suppose an economy consists of only the following economic agents: 2 million full-time workers, 1 million part-time workers, 1 million people who have been laid off by their employers but are currently looking for employment, 1 million children aged 15 years or younger, and 2 million housewives not looking for jobs. -Refer to the scenario above.What is the number of employed workers in the economy?

A reduction in wage is most likely to ________.