Question 1

Table 28-1
Labor Data for Wrexington
  
-Refer to Table 28-1.The labor force of Wrexington in 2005 was

Accepted Answer

A)  1300 
B)  1900 
C)  2004 
D)  3000 
A)  1300 
B)  1900 
C)  2004 
D)  3000

Question 2

Within the U.S.population,men and women have similar rates of unemployment.

Accepted Answer

A) True 
 B)False

Question 3

A union is a type of cartel.

Accepted Answer

A) True 
 B)False

Question 4

Causes of the decline in the U.S.men's labor-force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did,older men now retiring earlier and living longer,and more fathers now staying at home to raise their children.

Accepted Answer

A) True 
 B)False

Question 5

Frictional unemployment is

Accepted Answer

A)  not inevitable;rather,it can be reduced to zero by well-designed public policies. 
B)  not inevitable;rather,it could be reduced to zero if by the elimination of unemployment insurance. 
C)  inevitable,because at any given time,jobs are being created in some firms and destroyed in other firms. 
D)  inevitable,because in some industries,wages are always set above the level that brings supply and demand into equilibrium. 
A)  not inevitable;rather,it can be reduced to zero by well-designed public policies. 
B)  not inevitable;rather,it could be reduced to zero if by the elimination of unemployment insurance. 
C)  inevitable,because at any given time,jobs are being created in some firms and destroyed in other firms. 
D)  inevitable,because in some industries,wages are always set above the level that brings supply and demand into equilibrium.

Question 6

Structural unemployment results when wages are,for some reason,set above the level that brings supply and demand into equilibrium.

Accepted Answer

A) True 
 B)False

Question 7

Evidence provided by economists indicates that the typical person who becomes unemployed

Accepted Answer

A)  will soon find a job. 
B)  will find a job,but not before a year or more has gone by. 
C)  will leave the labor force and never return. 
D)  does so due to retirement. 
A)  will soon find a job. 
B)  will find a job,but not before a year or more has gone by. 
C)  will leave the labor force and never return. 
D)  does so due to retirement.

Question 8

Minimum-wage laws

Accepted Answer

A)  create frictional unemployment,while firms paying wages above equilibrium to reduce worker turnover creates structural unemployment. 
B)  create structural unemployment,while firms paying wages above equilibrium to reduce worker turnover creates frictional unemployment. 
C)  and firms paying wages above equilibrium to reduce worker turnover both create structural unemployment. 
D)  and firms paying wages above equilibrium to reduce worker turnover both create frictional unemployment. 
A)  create frictional unemployment,while firms paying wages above equilibrium to reduce worker turnover creates structural unemployment. 
B)  create structural unemployment,while firms paying wages above equilibrium to reduce worker turnover creates frictional unemployment. 
C)  and firms paying wages above equilibrium to reduce worker turnover both create structural unemployment. 
D)  and firms paying wages above equilibrium to reduce worker turnover both create frictional unemployment.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Sectoral shifts contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 12

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.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Causes of the changing role of women in American society over the past several decades include new technologies that have reduced the amount of time required to complete routine household tasks,improved birth control,and changing political and social attitudes.

Accepted Answer

A) True 
 B)False

Question 15

Table 28-5
2010 Labor Data for Wrexington
  
-Refer to Table 28-5.The labor-force participation rate of Wrexington in 2010 is about 33.3 percent.

Accepted Answer

A) True 
 B)False

Question 16

In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Japanese adult non-institutionalized population was 109.684 million,the labor force was 65.760 million,and the number of people employed was 62.630 million.According to these numbers,the Japanese labor-force participation rate and unemployment rate were about

Accepted Answer

A)  57.1% and 2.9%. 
B)  57.1% and 4.8%. 
C)  60% and 2.9%. 
D)  60% and 4.8%. 
A)  57.1% and 2.9%. 
B)  57.1% and 4.8%. 
C)  60% and 2.9%. 
D)  60% and 4.8%.

Question 17

The designation "natural" implies that the natural rate of unemployment

Accepted Answer

A)  is desirable. 
B)  is constant over time. 
C)  is impervious to economic policy. 
D)  does not go away on its own even in the long run. 
A)  is desirable. 
B)  is constant over time. 
C)  is impervious to economic policy. 
D)  does not go away on its own even in the long run.

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 unemployment rate in Meditor?

Accepted Answer

A)  4.2 percent 
B)  6.25 percent 
C)  6.7 percent 
D)  10 percent 
A)  4.2 percent 
B)  6.25 percent 
C)  6.7 percent 
D)  10 percent

Question 19

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

Accepted Answer

A)  about 25 percent,and in 2007,it was about 50 percent. 
B)  about 33 percent,and in 2007,it was about 60 percent. 
C)  about 50 percent,and in 2007,it was about 70 percent. 
D)  about 60 percent,and in 2007,it was about 80 percent. 
A)  about 25 percent,and in 2007,it was about 50 percent. 
B)  about 33 percent,and in 2007,it was about 60 percent. 
C)  about 50 percent,and in 2007,it was about 70 percent. 
D)  about 60 percent,and in 2007,it was about 80 percent.

Question 20

Suppose some country had an adult population of about 50 million,a labor-force participation rate of 60 percent,and an unemployment rate of 5 percent.How many people were unemployed?

Accepted Answer

A)  1.425 million 
B)  1.5 million 
C)  2.5 million 
D)  5 million 
A)  1.425 million 
B)  1.5 million 
C)  2.5 million 
D)  5 million

Exam 28: Unemployment

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The labor force of Wrexington in 2005 was

Within the U.S.population,men and women have similar rates of unemployment.

A union is a type of cartel.

Causes of the decline in the U.S.men's labor-force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did,older men now retiring earlier and living longer,and more fathers now staying at home to raise their children.

Frictional unemployment is

Structural unemployment results when wages are,for some reason,set above the level that brings supply and demand into equilibrium.

Evidence provided by economists indicates that the typical person who becomes unemployed

Minimum-wage laws

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

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

Sectoral shifts contribute to frictional unemployment.

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.

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

Causes of the changing role of women in American society over the past several decades include new technologies that have reduced the amount of time required to complete routine household tasks,improved birth control,and changing political and social attitudes.

Table 28-5 2010 Labor Data for Wrexington -Refer to Table 28-5.The labor-force participation rate of Wrexington in 2010 is about 33.3 percent.

The designation "natural" implies that the natural rate of unemployment

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

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

Suppose some country had an adult population of about 50 million,a labor-force participation rate of 60 percent,and an unemployment rate of 5 percent.How many people were unemployed?

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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