Question 1

Measuring the amount of unemployment in the economy is a straightforward task.

Accepted Answer

A) True 
 B)False

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 decreased.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is correct?

Accepted Answer

A)  There is consensus among economists that unions are good for the economy. 
B)  There is consensus among economists that unions are bad for the economy. 
C)  There is consensus among economists that,on net,unions have almost no impact on macroeconomic variables. 
D)  There is no consensus among economists about whether unions are good or bad for the economy. 
A)  There is consensus among economists that unions are good for the economy. 
B)  There is consensus among economists that unions are bad for the economy. 
C)  There is consensus among economists that,on net,unions have almost no impact on macroeconomic variables. 
D)  There is no consensus among economists about whether unions are good or bad for the economy.

Question 4

Recent entrants into the labor force account for about

Accepted Answer

A)  1/5 of those who are unemployed. 
B)  1/4 of those who are unemployed. 
C)  1/3 of those who are unemployed. 
D)  1/2 of those who are unemployed. 
A)  1/5 of those who are unemployed. 
B)  1/4 of those who are unemployed. 
C)  1/3 of those who are unemployed. 
D)  1/2 of those who are unemployed.

Question 5

Within the U.S.population,blacks have higher rates of unemployment than whites.

Accepted Answer

A) True 
 B)False

Question 6

When job search is the explanation for unemployment,workers are searching for the jobs that best suit their tastes and skills,but when the wage is above the equilibrium level,the quantity of labor supplied exceeds the quantity of labor demanded,and workers are unemployed because they are waiting for jobs to open up.

Accepted Answer

A) True 
 B)False

Question 7

People who report being not in the labor force but who,in fact,want to work but have given up trying to find a job after an unsuccessful search are really unemployed and therefore cause the reported unemployment rate to be lower than it would otherwise be.

Accepted Answer

A) True 
 B)False

Question 8

According to 2007 data on the U.S.population,which of the following groups of teenagers (ages 16-19)has the highest labor-force participation rate?

Accepted Answer

A)  white males 
B)  white females 
C)  black males 
D)  black females 
A)  white males 
B)  white females 
C)  black males 
D)  black females

Question 9

Most economists agree that eliminating unemployment insurance would increase the amount of unemployment in the economy.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not correct?

Accepted Answer

A)  The unemployment rate is an imperfect measure of a nation's overall level of economic well-being. 
B)  Most job search in the U.S.economy takes place without intervention by the government. 
C)  Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being. 
D)  Other things the same,countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates. 
A)  The unemployment rate is an imperfect measure of a nation's overall level of economic well-being. 
B)  Most job search in the U.S.economy takes place without intervention by the government. 
C)  Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being. 
D)  Other things the same,countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Question 11

The Bureau of Labor Statistics' U-5 measure of joblessness is the official unemployment rate.

Accepted Answer

A) True 
 B)False

Question 12

There are always some workers without jobs,even when the overall economy is doing well.

Accepted Answer

A) True 
 B)False

Question 13

Frictional unemployment is often thought to explain relatively long spells of unemployment.

Accepted Answer

A) True 
 B)False

Question 14

The adult population must equal the sum of the employed,the unemployed,and those not in the labor force.

Accepted Answer

A) True 
 B)False

Question 15

The Bureau of Labor Statistics computes unemployment rates for the entire adult population and for more narrowly defined groups.

Accepted Answer

A) True 
 B)False

Question 16

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Accepted Answer

A) True 
 B)False

Question 17

Minimum-wage laws are one reason there is always some unemployment in the U.S.economy.

Accepted Answer

A) True 
 B)False

Question 18

People who are unemployed because wages are,for some reason,set above the level that brings labor supply and demand into equilibrium are best classified as

Accepted Answer

A)  cyclically unemployed. 
B)  structurally unemployed. 
C)  frictionally unemployed. 
D)  discouraged workers. 
A)  cyclically unemployed. 
B)  structurally unemployed. 
C)  frictionally unemployed. 
D)  discouraged workers.

Question 19

Public policy can reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

Measuring the amount of unemployment in the economy is a straightforward task.

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 decreased.

Which of the following is correct?

Recent entrants into the labor force account for about

Within the U.S.population,blacks have higher rates of unemployment than whites.

People who report being not in the labor force but who,in fact,want to work but have given up trying to find a job after an unsuccessful search are really unemployed and therefore cause the reported unemployment rate to be lower than it would otherwise be.

According to 2007 data on the U.S.population,which of the following groups of teenagers (ages 16-19)has the highest labor-force participation rate?

Most economists agree that eliminating unemployment insurance would increase the amount of unemployment in the economy.

Which of the following is not correct?

The Bureau of Labor Statistics' U-5 measure of joblessness is the official unemployment rate.

There are always some workers without jobs,even when the overall economy is doing well.

Frictional unemployment is often thought to explain relatively long spells of unemployment.

The adult population must equal the sum of the employed,the unemployed,and those not in the labor force.

The Bureau of Labor Statistics computes unemployment rates for the entire adult population and for more narrowly defined groups.

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Minimum-wage laws are one reason there is always some unemployment in the U.S.economy.

People who are unemployed because wages are,for some reason,set above the level that brings labor supply and demand into equilibrium are best classified as

Public policy can reduce the economy's natural rate of unemployment.

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

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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