Exam 15: Unemployment: Part B

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In an ideal labor market,wages would adjust to balance the quantity of labor supplied and the quantity of labor demanded,ensuring that all workers are always fully employed.

(True/False)

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Question 41

According to the theory of efficiency wages,firms operate more efficiently if wages are below the equilibrium level.

(True/False)

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Question 42

Public policy can reduce frictional unemployment.

(True/False)

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Question 43

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force,such as teenagers.

(True/False)

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Question 44

The unemployed who quit their jobs,were fired for cause,or just entered the labor force are not eligible for unemployment insurance.

(True/False)

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Question 45

A union is a type of cartel.

(True/False)

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Question 46

Full-time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.

(True/False)

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Question 47

The natural rate of unemployment is any type of unemployment that does not go away on its own even in the long run.

(True/False)

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Question 48

Most U.S.workers have wages well above the legal minimum,so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

(True/False)

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Question 49

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

(True/False)

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Question 50

Most spells of unemployment are short.About half of unemployment spells end with an exit from the labor force.

(True/False)

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Question 51

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

(True/False)

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Question 52

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

(True/False)

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Question 53

The rate of unemployment in a country is unrelated to its level of GDP.

(True/False)

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Question 54

Data on the unemployment rate in the U.S.since 1960 show that the unemployment rate sometimes is close to zero.

(True/False)

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Question 55

The Bureau of Labor Statistics' U-1 measure of joblessness is smaller than its U-6 measure of joblessness.

(True/False)

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Question 56

The unemployment rate never falls to zero.

(True/False)

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Question 57

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for groups based on age,gender,and race.

(True/False)

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Question 58

The natural rate of unemployment refers to the current unemployment rate.

(True/False)

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Question 59

Sectoral shifts contribute to structural unemployment.

(True/False)

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Question 60

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Exam 15: Unemployment: Part B

In an ideal labor market,wages would adjust to balance the quantity of labor supplied and the quantity of labor demanded,ensuring that all workers are always fully employed.

According to the theory of efficiency wages,firms operate more efficiently if wages are below the equilibrium level.

Public policy can reduce frictional unemployment.

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force,such as teenagers.

The unemployed who quit their jobs,were fired for cause,or just entered the labor force are not eligible for unemployment insurance.

A union is a type of cartel.

Full-time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.

The natural rate of unemployment is any type of unemployment that does not go away on its own even in the long run.

Most U.S.workers have wages well above the legal minimum,so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Most spells of unemployment are short.About half of unemployment spells end with an exit from the labor force.

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

The rate of unemployment in a country is unrelated to its level of GDP.

Data on the unemployment rate in the U.S.since 1960 show that the unemployment rate sometimes is close to zero.

The Bureau of Labor Statistics' U-1 measure of joblessness is smaller than its U-6 measure of joblessness.

The unemployment rate never falls to zero.

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for groups based on age,gender,and race.

The natural rate of unemployment refers to the current unemployment rate.

Sectoral shifts contribute to structural unemployment.

Ten Principles of Economics

Ten Principles of Economics: How People Make Decisions

Ten Principles of Economics: How People Interact

Ten Principles of Economics: How the Economy As a Whole Works

Ten Principles of Economics: Part A

Ten Principles of Economics: Part B

Thinking Like an Economist

Thinking Like an Economist: The Economist As Scientist

Thinking Like an Economist: The Economist As Policy Adviser

Thinking Like an Economist: Why Economists Disagree

Thinking Like an Economist: Lets Get Going

Thinking Like an Economist: Graphing a Brief Review

Thinking Like an Economist: Part A

Thinking Like an Economist: Part B

Interdependence and the Gains From Trade

Interdependence and the Gains From Trade: A Parable for the Modern Economy

Interdependence and the Gains From Trade: Comparative Advantage the Driving Force of Specialization

Interdependence and the Gains From Trade: Applications of Comparative Advantage

Interdependence and the Gains From Trade: Conclusion

Interdependence and the Gains From Trade: Part A

Interdependence and the Gains From Trade: Part B

The Market Forces of Supply and Demand

The Market Forces of Supply and Demand:Markets and Competition

The Market Forces of Supply and Demand: Demand

The Market Forces of Supply and Demand: Supply

The Market Forces of Supply and Demand: Supply and Demand Together

The Market Forces of Supply and DemandConclusion How Prices Allocate Resources

The Market Forces of Supply and Demand: Part A

The Market Forces of Supply and Demand: Part B

Elasticity and Its Applications

Elasticity and Its Applications: The Elasticity of Demand

Elasticity and Its Applications: The Elasticity of Supply

Elasticity and Its Applications: Three Applications of Supply,demand,and Elasticity

Elasticity and Its Applications: Part A

Elasticity and Its Applications: Part B

Supply Demand and Government Policies

Supply Demand and Government Policies: Controls on Prices

Supply Demand and Government Policies: Taxes

Supply Demand and Government Policies: Part A

Supply Demand and Government Policies: Part B

Consumers Producers and the Efficiency of Markets

Consumers Producers and the Efficiency of Markets: Consumer Surplus

Consumers Producers and the Efficiency of Markets: Producer Surplus

Consumers Producers and the Efficiency of Markets: Market Efficiency

Consumers Producers and the Efficiency of Markets: Conclusion Market Efficiency and Market Failure

Consumers Producers and the Efficiency of Markets: Part A

Consumers Producers and the Efficiency of Markets: Part B

Application the Cost of Taxation

Application the Cost of Taxation: The Deadweight Loss of Taxation

Application the Cost of Taxation: The Determinants of the Deadweight Loss

Application the Cost of Taxation: Deadweight Loss and Tax Revenue As Taxes Vary

Application the Cost of Taxation: Conclusion

Application the Cost of Taxation: Part A

Application the Cost of Taxation: Part B

Application International Trade

Application International Trade: The Determinants of Trade

Application International Trade: The Winners and Losers From Trade

Application International Trade: The Arguments for Restricting Trade

Application International Trade: Conclusion