Question 1

Which of the following is correct for people ages 20 and over?

Accepted Answer

A)  Men have lower rates of labor-force participation and similar rates of unemployment compared to women. 
B)  Men have lower rates of labor-force participation and higher rates of unemployment compared to women. 
C)  Women have lower rates of labor-force participation and higher rates of unemployment compared to men. 
D)  Women have lower rates of labor-force participation and similar rates of unemployment compared to men. 
A)  Men have lower rates of labor-force participation and similar rates of unemployment compared to women. 
B)  Men have lower rates of labor-force participation and higher rates of unemployment compared to women. 
C)  Women have lower rates of labor-force participation and higher rates of unemployment compared to men. 
D)  Women have lower rates of labor-force participation and similar rates of unemployment compared to men.

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is not correct?

Accepted Answer

A)  Frictional unemployment results from the process of matching workers and jobs. 
B)  Structural unemployment results when the number of jobs is insufficient for the number of workers. 
C)  Minimum wages are the predominant reason for unemployment in the U.S.economy. 
D)  When a minimum-wage law forces the wage to remain above the level that balances supply and demand,it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. 
A)  Frictional unemployment results from the process of matching workers and jobs. 
B)  Structural unemployment results when the number of jobs is insufficient for the number of workers. 
C)  Minimum wages are the predominant reason for unemployment in the U.S.economy. 
D)  When a minimum-wage law forces the wage to remain above the level that balances supply and demand,it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.

Question 6

Table 28-3
2003 Labor Data for Adults (age 16 and older)in Meditor
  
-Refer to Table 28-3.What is the adult female labor force in Meditor?

Accepted Answer

A)  40 million 
B)  65 million 
C)  70 million 
D)  100 million 
A)  40 million 
B)  65 million 
C)  70 million 
D)  100 million

Question 7

The theory of efficiency wages provides a possible explanation as to why

Accepted Answer

A)  workers form unions. 
B)  firms should try to reduce surpluses of labor. 
C)  firms may be inclined to keep their workers' wages above the equilibrium level. 
D)  firms may be inclined to keep their workers' wages below the equilibrium level. 
A)  workers form unions. 
B)  firms should try to reduce surpluses of labor. 
C)  firms may be inclined to keep their workers' wages above the equilibrium level. 
D)  firms may be inclined to keep their workers' wages below the equilibrium level.

Question 8

Spells of unemployment end about

Accepted Answer

A)  1/5 of the time with the person leaving the labor force. 
B)  1/4 of the time with the person leaving the labor force. 
C)  1/3 of the time with the person leaving the labor force. 
D)  1/2 of the time with the person leaving the labor force. 
A)  1/5 of the time with the person leaving the labor force. 
B)  1/4 of the time with the person leaving the labor force. 
C)  1/3 of the time with the person leaving the labor force. 
D)  1/2 of the time with the person leaving the labor force.

Question 9

A person who is counted as unemployed by the Bureau of Labor Statistics

Accepted Answer

A)  is also in the labor force. 
B)  must have recently looked for work or be on temporary layoff. 
C)  be at least 16 years old. 
D)  All of the above are correct. 
A)  is also in the labor force. 
B)  must have recently looked for work or be on temporary layoff. 
C)  be at least 16 years old. 
D)  All of the above are correct.

Question 10

Most spells of unemployment are short,and most unemployment observed at any given time is short-term.

Accepted Answer

A) True 
 B)False

Question 11

Figure 28-1  
-Refer to Figure 28-1.If the government imposes a minimum wage of $4,then how many workers will be unemployed?

Accepted Answer

A)  0 
B)  3000 
C)  4000 
D)  7000 
A)  0 
B)  3000 
C)  4000 
D)  7000

Question 12

If the wage is kept above the equilibrium level because of minimum-wage laws,then the result is unemployment;if the wage is kept above the equilibrium level for some other reason,the result need not be unemployment.

Accepted Answer

A) True 
 B)False

Question 13

For the Bureau of Labor Statistics to place someone in the "unemployed" category,that person must

Accepted Answer

A)  be available for work. 
B)  have tried to find employment during the previous week. 
C)  have previously been employed. 
D)  All of the above are correct. 
A)  be available for work. 
B)  have tried to find employment during the previous week. 
C)  have previously been employed. 
D)  All of the above are correct.

Question 14

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)  certain unpaid workers 
B)  part-time workers 
C)  workers on vacation 
D)  All of the above are correct. 
A)  certain unpaid workers 
B)  part-time workers 
C)  workers on vacation 
D)  All of the above are correct.

Question 15

In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Italian adult non-institutionalized population was 45.020 million,the labor force was 24.065 million,and the number of people employed was 22.105 million.According to these numbers,the Italian labor-force participation rate and unemployment rate were about

Accepted Answer

A)  49.1% and 4.4%. 
B)  49.1% and 8.1%. 
C)  53.5% and 4.4%. 
D)  53.5% and 8.1%. 
A)  49.1% and 4.4%. 
B)  49.1% and 8.1%. 
C)  53.5% and 4.4%. 
D)  53.5% and 8.1%.

Question 16

Figure 28-1  
-Refer to Figure 28-1.If the government imposes a minimum wage of $4,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 17

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

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 18

Table 28-3
2003 Labor Data for Adults (age 16 and older)in Meditor
  
-Refer to Table 28-3.What is the adult male labor force in Meditor?

Accepted Answer

A)  50 million 
B)  85 million 
C)  90 million 
D)  130 million 
A)  50 million 
B)  85 million 
C)  90 million 
D)  130 million

Question 19

Table 28-1
Labor Data for Wrexington
  
-Refer to Table 28-1.The number of adults not in the labor force of Wrexington in 2005 was

Accepted Answer

A)  600 
B)  1100 
C)  1700 
D)  2400 
A)  600 
B)  1100 
C)  1700 
D)  2400

Question 20

Acarapi is a full-time homemaker not currently searching for other work.Ximena is a full-time student who is not looking for a job.Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)  only Acarapi 
B)  only Ximena 
C)  both Acarapi and Ximena 
D)  neither Acarapi nor Ximena 
A)  only Acarapi 
B)  only Ximena 
C)  both Acarapi and Ximena 
D)  neither Acarapi nor Ximena

Exam 28: Unemployment

Which of the following is correct for people ages 20 and over?

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

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

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

Which of the following is not correct?

Table 28-3 2003 Labor Data for Adults (age 16 and older)in Meditor -Refer to Table 28-3.What is the adult female labor force in Meditor?

The theory of efficiency wages provides a possible explanation as to why

Spells of unemployment end about

A person who is counted as unemployed by the Bureau of Labor Statistics

Most spells of unemployment are short,and most unemployment observed at any given time is short-term.

Figure 28-1 -Refer to Figure 28-1.If the government imposes a minimum wage of $4,then how many workers will be unemployed?

If the wage is kept above the equilibrium level because of minimum-wage laws,then the result is unemployment;if the wage is kept above the equilibrium level for some other reason,the result need not be unemployment.

For the Bureau of Labor Statistics to place someone in the "unemployed" category,that person must

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Figure 28-1 -Refer to Figure 28-1.If the government imposes a minimum wage of $4,then employment will decrease by

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

Table 28-3 2003 Labor Data for Adults (age 16 and older)in Meditor -Refer to Table 28-3.What is the adult male labor force in Meditor?

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The number of adults not in the labor force of Wrexington in 2005 was

Acarapi is a full-time homemaker not currently searching for other work.Ximena is a full-time student who is not looking for a job.Who is included in the labor force by the Bureau of Labor Statistics?

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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