Question 1

Suppose the demand for construction workers increased and the demands for textile and steel workers diminished. This is an example of

Accepted Answer

A) frictional unemployment created by efficiency wages. 
B) structural unemployment created by efficiency wages. 
C) frictional unemployment created by sectoral shifts. 
D) structural unemployment created by sectoral shifts. 
A) frictional unemployment created by efficiency wages. 
B) structural unemployment created by efficiency wages. 
C) frictional unemployment created by sectoral shifts. 
D) structural unemployment created by sectoral shifts.

Question 2

Table 15-3
2010 Labor Data for Adults (age 16 and older) in Meditor
 $$\begin{array} { | l | l | } 
\hline \text { Males not in labar farce } & 45 \text { million } \
\hline \text { Femeles nat in labor force } & 35 \text { million } \
\hline \text { Males unemplayed } & 5 \text { millian } \
\hline \text { Fenales unemployed } & 5 \text { millian } \
\hline \text { Males employed } & 85 \text { million } \
\hline \text { Fenales enployed } & 65 \text { milling } \
\hline
\end{array}$$
-Refer to Table 15-3. What is the adult female unemployment rate in Meditor?

Accepted Answer

A) 4.8 percent 
B) 5 percent 
C) 7.1 percent 
D) 7.7 percent 
A) 4.8 percent 
B) 5 percent 
C) 7.1 percent 
D) 7.7 percent

Question 3

The Bureau of Labor Statistics produces data on unemployment, types of employment, length of the average workweek, and the duration of unemployment.

Accepted Answer

A) True 
 B)False

Question 4

Sample Population
 \(\begin{array}{|l|l|}
\hline \text { Person } & \text { Status } \
\hline \text { Allen } & \text { Unpaid stay at home dad. Has not looked for a job in several years. } \
\hline \text { Ben } & \text { College president. } \
\hline \text { Allison } & \text { Part-time welder. Actively looking for full time work. } \
\hline \text { Brittany } & \text { Self-employed full-time wedding singer. } \
\hline \text { Cathy } & \text { Full-time physician's assistant. } \
\hline \text { Calvin } & \text { Retired finance professor. Last applied for work } 10 \text { weeks ago. } \
\hline \text { Diane } & \text { Laid-off fork-lift operator expecting to be recalled. } \
\hline \text { David } & \text { Works for a bicycle store. Age 70. } \
\hline \text { Evelyn } & \text { Manager of health food store. } \
\hline \text { Eli } & \text { Museum guard. Was not at work last week due to ilness. } \
\hline \text { Flora } & \text { Has never been employed. Looked for a job last week. } \
\hline \text { Frank } & \text { Fired from job as an investment banker. Last looked for work three weeks ago. } \
\hline
\end{array}\)

-Refer to Sample Population. How many in the sample are unemployed?

Accepted Answer

A) 5 
B) 4 
C) 3 
D) None of the above is correct. 
A) 5 
B) 4 
C) 3 
D) None of the above is correct.

Question 5

Frictional unemployment can be the consequence of

Accepted Answer

A) workers leaving existing jobs to find ones they like better. 
B) one industry declining while another is growing. 
C) changes in the working conditions offered by competing firms. 
D) All of the above are correct. 
A) workers leaving existing jobs to find ones they like better. 
B) one industry declining while another is growing. 
C) changes in the working conditions offered by competing firms. 
D) All of the above are correct.

Question 6

Which of the following is correct?

Accepted Answer

A) Nearly all economists believe that unions are bad for the economy as a whole. 
B) Unionized firms pay wages above the competitive equilibrium level. 
C) Unions increase the level of employment in unionized firms. 
D) Unions decrease the level of employment in firms without unions. 
A) Nearly all economists believe that unions are bad for the economy as a whole. 
B) Unionized firms pay wages above the competitive equilibrium level. 
C) Unions increase the level of employment in unionized firms. 
D) Unions decrease the level of employment in firms without unions.

Question 7

The deviation of unemployment from its natural rate is called cyclical unemployment.

Accepted Answer

A) True 
 B)False

Question 8

An economy's natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

Accepted Answer

A) True 
 B)False

Question 9

The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries.

Accepted Answer

A) True 
 B)False

Question 10

Just after World War II, the labor-force participation rate of women was

Accepted Answer

A) about 25 percent, and in 2009, it was about 50 percent. 
B) about 33 percent, and in 2009 it was about 60 percent. 
C) about 50 percent, and in 2009, it was about 70 percent. 
D) about 60 percent, and in 2009, it was about 80 percent. 
A) about 25 percent, and in 2009, it was about 50 percent. 
B) about 33 percent, and in 2009 it was about 60 percent. 
C) about 50 percent, and in 2009, it was about 70 percent. 
D) about 60 percent, and in 2009, it was about 80 percent.

Question 11

Table 15-5
2010 Labor Data for Tajnia
 $$\begin{array} { | l | l | } 
\hline \text { Number of adiults employed } & 10,000 \
\hline \text { Number of adults unemployed } & 2,250 \
\hline \text { Number of atults not in the labar force } & 17,750 \
\hline
\end{array}$$
-Refer to Table 15-5. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

Accepted Answer

A) True 
 B)False

Question 12

The Bureau of Labor Statistics produces data on unemployment

Accepted Answer

A) weekly. 
B) monthly. 
C) quarterly. 
D) yearly. 
A) weekly. 
B) monthly. 
C) quarterly. 
D) yearly.

Question 13

Which of the following is correct?

Accepted Answer

A) In the U.S. it is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment. Unions may keep wages above their equilibrium level. 
B) In the U.S. it is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment. Unions cannot keep wages above their equilibrium level. 
C) In the U.S. minimum-wage laws cause unemployment even for people with high skills and much experience. Unions may keep wages above their equilibrium level. 
D) In the U.S. minimum-wage laws cause unemployment even for people with high skills and much experience. Unions cannot keep wages above their equilibrium level. 
A) In the U.S. it is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment. Unions may keep wages above their equilibrium level. 
B) In the U.S. it is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment. Unions cannot keep wages above their equilibrium level. 
C) In the U.S. minimum-wage laws cause unemployment even for people with high skills and much experience. Unions may keep wages above their equilibrium level. 
D) In the U.S. minimum-wage laws cause unemployment even for people with high skills and much experience. Unions cannot keep wages above their equilibrium level.

Question 14

Today, unions play a larger role in Europe than they do in the U.S.

Accepted Answer

A) True 
 B)False

Question 15

Not all unemployment ends with the job seeker finding a job.

Accepted Answer

A) True 
 B)False

Question 16

Data on unemployment indicate that most people who become unemployed will soon find jobs.

Accepted Answer

A) True 
 B)False

Question 17

Table 15-3
2010 Labor Data for Adults (age 16 and older) in Meditor
 $$\begin{array} { | l | l | } 
\hline \text { Males not in labar farce } & 45 \text { million } \
\hline \text { Femeles nat in labor force } & 35 \text { million } \
\hline \text { Males unemplayed } & 5 \text { millian } \
\hline \text { Fenales unemployed } & 5 \text { millian } \
\hline \text { Males employed } & 85 \text { million } \
\hline \text { Fenales enployed } & 65 \text { milling } \
\hline
\end{array}$$
-Refer to Table 15-3. What is the adult male labor-force participation rate in Meditor?

Accepted Answer

A) 37 percent 
B) 63 percent 
C) 66.7 percent 
D) 96.3 percent 
A) 37 percent 
B) 63 percent 
C) 66.7 percent 
D) 96.3 percent

Question 18

Workers waiting for jobs to open up is most closely associated with

Accepted Answer

A) cyclical unemployment. 
B) frictional unemployment. 
C) seasonal unemployment. 
D) structural unemployment. 
A) cyclical unemployment. 
B) frictional unemployment. 
C) seasonal unemployment. 
D) structural unemployment.

Question 19

Measuring the amount of unemployment in the economy is a straightforward task.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not an explanation for the existence of unemployment in the long run?

Accepted Answer

A) it takes time for workers to search for the jobs that are best suited for them 
B) minimum-wage laws 
C) unions 
D) the business cycle 
A) it takes time for workers to search for the jobs that are best suited for them 
B) minimum-wage laws 
C) unions 
D) the business cycle

Suppose the demand for construction workers increased and the demands for textile and steel workers diminished. This is an example of

The Bureau of Labor Statistics produces data on unemployment, types of employment, length of the average workweek, and the duration of unemployment.

Frictional unemployment can be the consequence of

Which of the following is correct?

The deviation of unemployment from its natural rate is called cyclical unemployment.

An economy's natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries.

Just after World War II, the labor-force participation rate of women was

Table 15-5 2010 Labor Data for Tajnia Number of adiults employed 10,000 Number of adults unemployed 2,250 Number of atults not in the labar force 17,750 -Refer to Table 15-5. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

The Bureau of Labor Statistics produces data on unemployment

Which of the following is correct?

Today, unions play a larger role in Europe than they do in the U.S.

Not all unemployment ends with the job seeker finding a job.

Data on unemployment indicate that most people who become unemployed will soon find jobs.

Workers waiting for jobs to open up is most closely associated with

Measuring the amount of unemployment in the economy is a straightforward task.

Which of the following is not an explanation for the existence of unemployment in the long run?

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Application

Supply, Demand, and Government Policies

Consumers, Producers, and the Efficiency of Markets

Application: The Costs of Taxation

Application: International Trade

Measuring a Nations Income

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

The Basic Tools of Finance

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomic Models

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Trade-Off Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

Filters

Exam 15: Unemployment

Suppose the demand for construction workers increased and the demands for textile and steel workers diminished. This is an example of

The Bureau of Labor Statistics produces data on unemployment, types of employment, length of the average workweek, and the duration of unemployment.

Frictional unemployment can be the consequence of

Which of the following is correct?

The deviation of unemployment from its natural rate is called cyclical unemployment.

An economy's natural rate of unemployment refers to the amount of unemployment that the economy normally experiences.

The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries.

Just after World War II, the labor-force participation rate of women was

Table 15-5 2010 Labor Data for Tajnia Number of adiults employed 10,000 Number of adults unemployed 2,250 Number of atults not in the labar force 17,750 -Refer to Table 15-5. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

The Bureau of Labor Statistics produces data on unemployment

Which of the following is correct?

Today, unions play a larger role in Europe than they do in the U.S.

Not all unemployment ends with the job seeker finding a job.

Data on unemployment indicate that most people who become unemployed will soon find jobs.

Workers waiting for jobs to open up is most closely associated with

Measuring the amount of unemployment in the economy is a straightforward task.

Which of the following is not an explanation for the existence of unemployment in the long run?

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Application

Supply, Demand, and Government Policies

Consumers, Producers, and the Efficiency of Markets

Application: The Costs of Taxation

Application: International Trade

Measuring a Nations Income

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

The Basic Tools of Finance

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomic Models

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Trade-Off Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

Filters