Exam 15: Unemployment: Part B

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

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

Economists at the Congressional Budget Office estimated that for 2015,the U.S.natural rate of unemployment was about 4.9 percent.

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed.

The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity.

Most spells of unemployment are short,and most unemployment observed at any given time is long-term.

Over the past several decades,the difference between the labor-force participation rates of men and women in the U.S.has gradually decreased.

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

The efficiency-wage theory of worker health is more relevant for less developed countries than rich countries.

The unemployment rate equals the percentage of the adult population that is unemployed.

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

The unemployment rate equals the percentage of the labor force that is unemployed.

The labor-force participation rate equals the percentage of the labor force that is either employed or unemployed.

Most economists believe unions are bad for the economy as a whole.

People who report being unemployed but who,in fact,are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be.

The Bureau of Labor Statistics' U-4 measure of joblessness includes discouraged workers.

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.

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

When a minimum-wage law forces the wage to remain above the level that balances supply and demand,the quantity of labor supplied is lower and the quantity of labor demand is higher than at the equilibrium wage.