Question 1

Minimum wages are the predominant reason for unemployment in the U.S.economy.

Accepted Answer

A) True 
 B)False

Question 2

Government-run employment agencies and public training programs both seek to reduce frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 3

The labor-force participation rate is computed as

Accepted Answer

A)  (EmployedAdult Population)100. 
B)  (EmployedLabor Force)100. 
C)  (Labor ForceAdult Population)100. 
D)  (Adult PopulationLabor Force)100. 
A)  (EmployedAdult Population)100. 
B)  (EmployedLabor Force)100. 
C)  (Labor ForceAdult Population)100. 
D)  (Adult PopulationLabor Force)100.

Question 4

Suppose some country had an adult population of about 46 million,a labor-force participation rate of 75 percent,and an unemployment rate of 8 percent.How many people were unemployed?

Accepted Answer

A)  2.54 million 
B)  2.76 million 
C)  3.68 million 
D)  8 million 
A)  2.54 million 
B)  2.76 million 
C)  3.68 million 
D)  8 million

Question 5

An increase in the minimum wage would

Accepted Answer

A)  increase both the quantity demanded and the quantity supplied of labor. 
B)  decrease both the quantity demanded and the quantity supplied of labor. 
C)  increase the quantity of labor demanded but decrease the quantity of labor supplied. 
D)  decrease the quantity of labor demanded but increase the quantity of labor supplied. 
A)  increase both the quantity demanded and the quantity supplied of labor. 
B)  decrease both the quantity demanded and the quantity supplied of labor. 
C)  increase the quantity of labor demanded but decrease the quantity of labor supplied. 
D)  decrease the quantity of labor demanded but increase the quantity of labor supplied.

Question 6

Advocates of government-run employment agencies and public training programs believe they make job search more efficient.

Accepted Answer

A) True 
 B)False

Question 7

Within the U.S.population,women have higher rates of unemployment than men.

Accepted Answer

A) True 
 B)False

Question 8

The natural rate of unemployment is the desirable rate of unemployment for an economy.

Accepted Answer

A) True 
 B)False

Question 9

One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

Accepted Answer

A) True 
 B)False

Question 10

Table 28-2
2009 Labor Data for Wrexington
  
-Refer to Table 28-2.What was Wrexington's labor-force participation rate in 2009?

Accepted Answer

A)  55 percent 
B)  63 percent 
C)  66.9 percent 
D)  87.3 percent 
A)  55 percent 
B)  63 percent 
C)  66.9 percent 
D)  87.3 percent

Question 11

John is a stockbroker.He has had several job offers,but he has turned them down because he thinks he can find a firm that better matches his tastes and skills.Curtis has looked for work as an accountant for some time.While the demand for accountants doesn't appear to be falling,there seems to be more people applying than jobs available.

Accepted Answer

A)  John and Curtis are both frictionally unemployed. 
B)  John and Curtis are both structurally unemployed. 
C)  John is frictionally unemployed,and Curtis is structurally unemployed. 
D)  John is structurally unemployed,and Curtis is frictionally unemployed. 
A)  John and Curtis are both frictionally unemployed. 
B)  John and Curtis are both structurally unemployed. 
C)  John is frictionally unemployed,and Curtis is structurally unemployed. 
D)  John is structurally unemployed,and Curtis is frictionally unemployed.

Question 12

The Bureau of Labor Statistics places each adult (aged 16 and older)of each surveyed household into one of four categories: employed,underemployed,unemployed,and not in the labor force.

Accepted Answer

A) True 
 B)False

Question 13

Right-to-work laws allow striking union members to be permanently replaced.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

Minimum wages are the predominant reason for unemployment in the U.S.economy.

Government-run employment agencies and public training programs both seek to reduce frictional unemployment.

The labor-force participation rate is computed as

Suppose some country had an adult population of about 46 million,a labor-force participation rate of 75 percent,and an unemployment rate of 8 percent.How many people were unemployed?

An increase in the minimum wage would

Advocates of government-run employment agencies and public training programs believe they make job search more efficient.

Within the U.S.population,women have higher rates of unemployment than men.

The natural rate of unemployment is the desirable rate of unemployment for an economy.

One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

Table 28-2 2009 Labor Data for Wrexington -Refer to Table 28-2.What was Wrexington's labor-force participation rate in 2009?

The Bureau of Labor Statistics places each adult (aged 16 and older)of each surveyed household into one of four categories: employed,underemployed,unemployed,and not in the labor force.

Right-to-work laws allow striking union members to be permanently replaced.

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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