Question 1

Data on the unemployment rate in the U.S.since 1960 show that the economy

Accepted Answer

A)  always has some unemployment and that the amount stays constant from year to year. 
B)  always has some unemployment and that the amount changes from year to year. 
C)  sometimes has some unemployment and that the amount stays constant from year to year. 
D)  sometimes has some unemployment and that the amount changes from year to year. 
A)  always has some unemployment and that the amount stays constant from year to year. 
B)  always has some unemployment and that the amount changes from year to year. 
C)  sometimes has some unemployment and that the amount stays constant from year to year. 
D)  sometimes has some unemployment and that the amount changes from year to year.

Question 2

Over the past several decades in the United States,the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following does not help reduce frictional unemployment?

Accepted Answer

A)  government-run employment agencies 
B)  public training programs 
C)  unemployment insurance 
D)  All of the above help reduce frictional unemployment. 
A)  government-run employment agencies 
B)  public training programs 
C)  unemployment insurance 
D)  All of the above help reduce frictional unemployment.

Question 4

Only paid workers are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 5

A typical American worker covered by unemployment insurance receives

Accepted Answer

A)  50 percent of his former wages for 26 weeks. 
B)  50 percent of his former wages for 52 weeks. 
C)  100 percent of his former wages for 26 weeks. 
D)  100 percent of his former wages for 52 weeks. 
A)  50 percent of his former wages for 26 weeks. 
B)  50 percent of his former wages for 52 weeks. 
C)  100 percent of his former wages for 26 weeks. 
D)  100 percent of his former wages for 52 weeks.

Question 6

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 7

More than one-third of the unemployed are recent entrants into the labor force.

Accepted Answer

A) True 
 B)False

Question 8

Public policy

Accepted Answer

A)  can reduce both frictional unemployment and the natural rate of unemployment. 
B)  can reduce frictional unemployment,but it cannot reduce the natural rate of unemployment. 
C)  cannot reduce frictional unemployment,but it can reduce the natural rate of unemployment. 
D)  cannot reduce either frictional unemployment or the natural rate of unemployment. 
A)  can reduce both frictional unemployment and the natural rate of unemployment. 
B)  can reduce frictional unemployment,but it cannot reduce the natural rate of unemployment. 
C)  cannot reduce frictional unemployment,but it can reduce the natural rate of unemployment. 
D)  cannot reduce either frictional unemployment or the natural rate of unemployment.

Question 9

Within the U.S.population,teenagers have similar rates of labor-force participation as older workers.

Accepted Answer

A) True 
 B)False

Question 10

Structural unemployment results when the number of jobs is insufficient for the number of workers.

Accepted Answer

A) True 
 B)False

Question 11

Cyclical unemployment is closely associated with

Accepted Answer

A)  long-term economic growth. 
B)  short-run ups and downs of the economy. 
C)  fluctuations in the natural rate of unemployment. 
D)  changes in the minimum wage. 
A)  long-term economic growth. 
B)  short-run ups and downs of the economy. 
C)  fluctuations in the natural rate of unemployment. 
D)  changes in the minimum wage.

Question 12

The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.

Accepted Answer

A) True 
 B)False

Question 13

Over the past several decades,the difference between the labor-force participation rates of men and women in the U.S.has gradually increased.

Accepted Answer

A) True 
 B)False

Question 14

Figure 28-1  
-Refer to Figure 28-1.If the government imposes a minimum wage of $8,then employment will decrease by

Accepted Answer

A)  0 workers. 
B)  2000 workers. 
C)  3000 workers. 
D)  4000 workers. 
A)  0 workers. 
B)  2000 workers. 
C)  3000 workers. 
D)  4000 workers.

Question 15

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

Accepted Answer

A)  raises the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level. 
B)  raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. 
C)  reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level. 
D)  reduces the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. 
A)  raises the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level. 
B)  raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. 
C)  reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level. 
D)  reduces the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.

Question 16

Which of the following is not correct?

Accepted Answer

A)  Most people who become unemployed will soon find jobs. 
B)  In an ideal labor market,wages would adjust to ensure that all workers are always fully employed. 
C)  The unemployment rate occasionally falls to zero. 
D)  There are always some workers without jobs,even when the overall economy is doing well. 
A)  Most people who become unemployed will soon find jobs. 
B)  In an ideal labor market,wages would adjust to ensure that all workers are always fully employed. 
C)  The unemployment rate occasionally falls to zero. 
D)  There are always some workers without jobs,even when the overall economy is doing well.

Question 17

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

Accepted Answer

A)  Kawanari,who is on temporary layoff 
B)  Takuji,who has retired and is not looking for work 
C)  Izumi,who does not have a job,but has applied for several in the last week 
D)  None of the above is correct. 
A)  Kawanari,who is on temporary layoff 
B)  Takuji,who has retired and is not looking for work 
C)  Izumi,who does not have a job,but has applied for several in the last week 
D)  None of the above is correct.

Question 18

Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)  Aibne,who works most of the week in a steel factory 
B)  Modlen,who is waiting for her new job at the bank to start 
C)  Wyclef,who does not have a job,but is looking for work 
D)  All of the above are included in the labor force. 
A)  Aibne,who works most of the week in a steel factory 
B)  Modlen,who is waiting for her new job at the bank to start 
C)  Wyclef,who does not have a job,but is looking for work 
D)  All of the above are included in the labor force.

Question 19

Most people rely on income other than their labor earnings to maintain their standard of living.

Accepted Answer

A) True 
 B)False

Question 20

Table 28-5
2010 Labor Data for Wrexington
  
-Refer to Table 28-5.The labor-force participation rate of Wrexington in 2010 is about 40.8 percent.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

Data on the unemployment rate in the U.S.since 1960 show that the economy

Over the past several decades in the United States,the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Which of the following does not help reduce frictional unemployment?

Only paid workers are included in the Bureau of Labor Statistics' "employed" category.

A typical American worker covered by unemployment insurance receives

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

More than one-third of the unemployed are recent entrants into the labor force.

Public policy

Within the U.S.population,teenagers have similar rates of labor-force participation as older workers.

Structural unemployment results when the number of jobs is insufficient for the number of workers.

Cyclical unemployment is closely associated with

The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.

Over the past several decades,the difference between the labor-force participation rates of men and women in the U.S.has gradually increased.

Figure 28-1 -Refer to Figure 28-1.If the government imposes a minimum wage of $8,then employment will decrease by

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

Which of the following is not correct?

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

Who is included in the labor force by the Bureau of Labor Statistics?

Most people rely on income other than their labor earnings to maintain their standard of living.

Table 28-5 2010 Labor Data for Wrexington -Refer to Table 28-5.The labor-force participation rate of Wrexington in 2010 is about 40.8 percent.

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

Externalities

Public Goods and Common Resources

The Design of the Tax System

The Costs of Production

Firms in Competitive Markets

Monopoly

Monopolistic Competition

Oligopoly

The Markets for the Factors of Production

Earnings and Discrimination

Income Inequality and Poverty

The Theory of Consumer Choice

Frontiers of Microeconomics

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 Macroeconomics: Basic Concepts

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

Five Debates Over Macroeconomic Policy

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