Exam 15: Unemployment

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Table 15-1 Labor Data for Aridia Year Adult population 2000 3000 3200 Number of emplayed 1400 1300 1600 Number of unemplayed 200 600 200 -Refer to Table 15-1. The unemployment rate of Aridia in 2010 was

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Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero.

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Wages in excess of their equilibrium level help explain

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The unemployment that results from the process of matching workers and jobs is called structural unemployment.

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Every week, the Bureau of Labor Statistics produces data on unemployment.

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In Belgium, Norway, and Sweden, the percentage of workers who belong to unions is

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Policies that reduce the time it takes unemployed workers to find new jobs

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Unions contribute to

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A firm may pay efficiency wages in an attempt to

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Adults who are waiting to be recalled to a job from which they had been laid off are counted as unemployed.

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The unemployment rate equals the percentage of the adult population that is unemployed.

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The introduction of a union into an industry

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Some of a firm's workers are made worse off by the introduction of a union.

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When a union bargains successfully with employers, in that industry,

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Mary worked part-time for her mother's business without pay. Larry was absent from work because he had the flu. Who is counted as employed by the BLS?

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Within the U.S., blacks and whites have similar rates of unemployment.

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Most U.S. workers have wages well above the legal minimum, so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

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In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year. What percentage of the unemployment spells you encountered was short-term, and what percentage of the unemployment you encountered in a given week was long-term?

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Unions

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Table 15-1 Labor Data for Aridia Year Adult population 2000 3000 3200 Number of emplayed 1400 1300 1600 Number of unemplayed 200 600 200 -Refer to Table 15-1. The unemployment rate of Aridia in 2012 was

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