Exam 15: Unemployment

President Bigego is running for re-election against Senator Pander. Bigego proclaims that more people are working now than when he took office. Pander says that the unemployment rate is higher now than when Bigego took office. You conclude that

Juanita decides to hire some additional workers for her vinyl siding factory. The equilibrium wage is $14 per hour. Efficiency wage theory suggests that it is reasonable for Juanita to offer

The natural rate of unemployment refers to the current unemployment rate.

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job-market related reason for not currently looking for a job.

Suppose that grocery clerks and nurses are not unionized. If the nurses unionize, then

Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment.

The efficiency-wage theory of worker turnover suggests that firms with higher turnover will have

The Bureau of Labor Statistics places people in the "employed" category if they

The Bureau of Labor Statistics' U-4 measure of joblessness includes discouraged workers.

The process by which unions and firms agree on the terms of employment is called collective bargaining.

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it

Frictional unemployment is thought to explain

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-6 measure of labor underutilization?

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 labor-force participation rate in Meditor?

Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau of Labor Statistics' "employed" category.

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

If the minimum wage is currently above the equilibrium wage, then a decrease in the minimum wage

Arnold quit his job because he was unhappy at work. Michael was fired because he frequently came to work late. Who is eligible for unemployment insurance benefits?

In 2009, the U.S. natural rate of unemployment was estimated to be 5.0 percent, which at the time was close to the actual rate of unemployment of 9.3 percent.

A typical American worker covered by unemployment insurance receives 50 percent of his former wages for 52 weeks.