Exam 15: Unemployment: Part B

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

A minimum wage that is below the equilibrium wage rate does not raise unemployment.

Within the U.S.population,teenagers (ages 16-19)have similar rates of labor-force participation than adults of prime working age (ages 25-54),regardless of race or gender.

According to the theory of efficiency wages,it may be profitable for firms to keep wages high even in the presence of a surplus of labor.

The amount of unemployment that a country typically experiences is a determinant of its standard of living.

In the U.S. ,the National Labor Relations Board is the government agency that enforces workers' right to unionize.

Unemployment generated by the existence of labor unions is structural unemployment and so contributes to the natural rate of unemployment.

Right-to-work laws give workers in a unionized firm the right to choose whether to join the union.

Someone who has a job but is absent from work because she is on vacation is counted as "employed."

Within the U.S.population,women of prime working age (ages 25-54)have lower rates of labor-force participation than men of prime working age (ages 25-54),regardless of race.

Public policy,without intending to do so,can increase frictional unemployment.

Every adult who was not employed during the previous four weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Retirees are included in the Bureau of Labor Statistics' "not in the labor force" category.

Unions are exempt from U.S.antitrust laws.

More than three-fourths of the unemployed are recent entrants into the labor force.

One reason economies always experience some unemployment is job search.

The normal rate of unemployment around which the unemployment rate fluctuates is called cyclical unemployment.

Both full-time and part-time workers are included in the Bureau of Labor Statistics' "employed" category.

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.

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