Exam 15: Unemployment

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey.

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 unemployed?

Figure 15-1 -Refer to Figure 15-1. If the government imposes a minimum wage of $4, then employment will decrease by

Efficiency wages, minimum-wage laws, and unions all

The theory of efficiency wages explains why

In the U.S., it is illegal for employers to interfere when workers try to organize unions.

A firm might offer efficiency wages in order to reduce shirking.

Suppose some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were unemployed?

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

Four employers have justified their actions as follows. Whose logic is not consistent with the logic of efficiency wage theory?

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Which of the following is correct?

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, there are more workers willing to work than there are jobs, so some workers are unemployed.

Frictional unemployment is often thought to explain relatively long spells of unemployment.

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

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 participation rate in Meditor?

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job

Measuring unemployment is the job of the Bureau of Labor Statistics.

The Bureau of Labor Statistics reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalent, 36.40 million of whom were employed and 1.93 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level?