Exam 15: Unemployment

Suppose that some people are counted as unemployed when, to maintain unemployment compensation, they search for work only at places where they are unlikely to be hired. If these individuals were counted as out of the labor force instead of as unemployed, then

Most spells of unemployment are long, and most unemployment observed at any given time is long-term.

In order, which group has the highest participation rate and which has the higher unemployment rate?

The natural rate of unemployment is impervious to economic policy.

Since unemployment rates are consistently higher in Canada and some Western European countries than in the United States, it appears that the natural rate of unemployment is lower in the United States. What might explain this difference?

Table 15-2 2009 Labor Data for Baltivia Number of adults 20,000 Number of adults who are paid employees 8,000 Number of adults who work in their own businesses 1,600 Number of adults who are unpaid workers in a family member's business 1,000 Number of adults who were temporarily absent from their jobs because of an earthquake 400 Number of adults who were waiting to be recalled to a job from which they had been laid off 200 Number of adults who do not have a job, are available for work, and have tried to find a job within the past four weeks 1,400 Number of adults who do not have a job, are available for work, but have not tried to find a job within the past four weeks 780 Number of adults who are full-time students 3,000 Number of adults who are homemakers or retirees 3,620 -Refer to Table 15-2. How many people were in Baltivia's labor force in 2009?

Suppose some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were employed?

Labor Market Data Below is some hypothetical data on the labor market. wage quuantity demanded quuanty 5upplied \ 7 9,000 14,000 \ 6 12,000 12,000 \ 5 15,000 10,000 -Refer to Labor Market Data. If the government imposed a minimum wage of $5, what would unemployment be?

If outsiders had more say in union contracts then it is likely that union wages would be

Economists at the Congressional Budget Office estimated that for 2009, the U.S. natural rate of unemployment was

Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called

Table 15-3 2010 Labor Data for Adults (age 16 and older) in Meditor Males not in labar farce 45 million Femeles nat in labor force 35 million Males unemplayed 5 millian Fenales unemployed 5 millian Males employed 85 million Fenales enployed 65 milling -Refer to Table 15-3. What is the adult female labor force in Meditor?

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is lower and the quantity of labor demand is higher than at the equilibrium wage.

Who is not included in the labor force by the Bureau of Labor Statistics?

Table 15-3 2010 Labor Data for Adults (age 16 and older) in Meditor Males not in labar farce 45 million Femeles nat in labor force 35 million Males unemplayed 5 millian Fenales unemployed 5 millian Males employed 85 million Fenales enployed 65 milling -Refer to Table 15-3. What is the adult male population in Meditor?

Frictional unemployment is inevitable because the economy is always changing.

Table 15-4 Civilian labor force 100 million Persons unemployed 15 weeks or longer 1.6 million Job losers and persons who have completed temporary jobs (excludes job leavers) 3.1 million Total unemployed 6.2 million Total unemployed plus discouraged workers 7.0 million Total unemployed plus all marginally attached workers 8.1 million Total unemployed plus all marginally attached workers plus total employed part-time for economic reasons 9.2 million -Refer to Table 15-4. What is the U-4 measure of labor underutilization?

Rupert is collecting unemployment insurance benefits. To continue to receive his benefits, he must be looking for work. Because he'd like to continue collecting benefits rather than take a job, he applies at places that are unlikely to hire him. People like Rupert make the reported unemployment rate less than it would otherwise be.

The effects of unionization on wages in the sectors of the economy that are unionized causes the supply of labor in other sectors of the economy to

Which of the following is not among the four industries with the largest employment in the United States today?