Question 1

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job is

Accepted Answer

A) counted as out of the labor force but should be counted as unemployed. 
B) counted as unemployed but should be counted as out of the labor force. 
C) correctly counted as out of the labor force. 
D) correctly counted as unemployed. 
A) counted as out of the labor force but should be counted as unemployed. 
B) counted as unemployed but should be counted as out of the labor force. 
C) correctly counted as out of the labor force. 
D) correctly counted as unemployed.

Question 2

Most spells of unemployment are

Accepted Answer

A) long,and most unemployment observed at any given time is long term. 
B) long,but most unemployment observed at any given time is short term. 
C) short,but most unemployment observed at any given time is long term. 
D) short,and most unemployment observed at any given time is short term. 
A) long,and most unemployment observed at any given time is long term. 
B) long,but most unemployment observed at any given time is short term. 
C) short,but most unemployment observed at any given time is long term. 
D) short,and most unemployment observed at any given time is short term.

Question 3

Jamarcus works part-time as a pizza delivery person in a college town.The Bureau of Labor Statistics counts Jamarcus as

Accepted Answer

A) unemployed and in the labor force. 
B) unemployed and not in the labor force. 
C) employed and in the labor force. 
D) employed and not in the labor force. 
A) unemployed and in the labor force. 
B) unemployed and not in the labor force. 
C) employed and in the labor force. 
D) employed and not in the labor force.

Question 4

If an unemployed person quits looking for work,then,eventually the unemployment rate

Accepted Answer

A) decreases,and the labor-force participation rate is unaffected. 
B) and the labor-force participation rate both decrease. 
C) is unaffected,and the labor-force participation rate decreases. 
D) and the labor-force participation rate are both unaffected. 
A) decreases,and the labor-force participation rate is unaffected. 
B) and the labor-force participation rate both decrease. 
C) is unaffected,and the labor-force participation rate decreases. 
D) and the labor-force participation rate are both unaffected.

Question 5

Frictional unemployment is thought to explain relatively

Accepted Answer

A) short spells of unemployment,as is structural unemployment. 
B) long spells of unemployment,as is structural unemployment. 
C) short spells of unemployment,while structural unemployment is thought to explain relatively long spells of unemployment. 
D) long spells of unemployment,while structural unemployment is thought to explain relatively short spells of unemployment. 
A) short spells of unemployment,as is structural unemployment. 
B) long spells of unemployment,as is structural unemployment. 
C) short spells of unemployment,while structural unemployment is thought to explain relatively long spells of unemployment. 
D) long spells of unemployment,while structural unemployment is thought to explain relatively short spells of unemployment.

Question 6

People who are unemployed because of job search 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 7

To be counted as "employed" in the U.S.labor force statistics,a person

Accepted Answer

A) must be working for pay and be working full time. 
B) must be working for pay but does not have to be working full time. 
C) does not have to be working for pay if they are working for a family business but must be employed full time. 
D) does not have to be working for pay if they are working for a family business and does not have to be working full time 
A) must be working for pay and be working full time. 
B) must be working for pay but does not have to be working full time. 
C) does not have to be working for pay if they are working for a family business but must be employed full time. 
D) does not have to be working for pay if they are working for a family business and does not have to be working full time

Question 8

Which of the following is not an explanation for structural unemployment?

Accepted Answer

A) efficiency wages 
B) job search 
C) minimum-wage laws 
D) unions 
A) efficiency wages 
B) job search 
C) minimum-wage laws 
D) unions

Question 9

The labor-force participation rate tells us the fraction of the population that

Accepted Answer

A) is able to participate in the labor market. 
B) has ever been employed. 
C) has chosen to participate in the labor market. 
D) has chosen not to participate in the labor market. 
A) is able to participate in the labor market. 
B) has ever been employed. 
C) has chosen to participate in the labor market. 
D) has chosen not to participate in the labor market.

Question 10

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed,3 million people unemployed,1 million discouraged workers,and 1 million people who are either students,homemakers,retirees,or other people not seeking employment.
-Refer to Scenario 28-1.What is the unemployment rate?

Accepted Answer

A) 3.3% 
B) 6.7% 
C) 10.7% 
D) 12% 
A) 3.3% 
B) 6.7% 
C) 10.7% 
D) 12%

Question 11

Which of the following is correct?

Accepted Answer

A) In the U.S.the natural rate of unemployment is frequently near 2%. 
B) The natural rate of unemployment fluctuates more than the cyclical rate of unemployment. 
C) The cyclical rate of unemployment is sometimes below the natural rate of unemployment. 
D) None of the above is correct. 
A) In the U.S.the natural rate of unemployment is frequently near 2%. 
B) The natural rate of unemployment fluctuates more than the cyclical rate of unemployment. 
C) The cyclical rate of unemployment is sometimes below the natural rate of unemployment. 
D) None of the above is correct.

Question 12

Sandy has graduated from college and is devoting her time to searching for a job.She has seen plenty of openings but has not yet been offered one that best suits her tastes and skills.Sandy is

Accepted Answer

A) structurally unemployed.Structural unemployment exists even in the long run. 
B) structurally unemployed.There is no structural unemployment in the long run. 
C) frictionally unemployed.Frictional unemployment exists even in the long run. 
D) frictionally unemployed.There is no frictional unemployment in the long run. 
A) structurally unemployed.Structural unemployment exists even in the long run. 
B) structurally unemployed.There is no structural unemployment in the long run. 
C) frictionally unemployed.Frictional unemployment exists even in the long run. 
D) frictionally unemployed.There is no frictional unemployment in the long run.

Question 13

Eric was laid off two months ago.He has not searched for other work because he is expecting to be recalled to work.The Bureau of Labor Statistics counts Eric as

Accepted Answer

A) unemployed and in the labor force. 
B) unemployed and not in the labor force. 
C) employed and in the labor force. 
D) not in the labor force. 
A) unemployed and in the labor force. 
B) unemployed and not in the labor force. 
C) employed and in the labor force. 
D) not in the labor force.

Question 14

Who among the following would be counted as "unemployed"?

Accepted Answer

A) Shasta,who is waiting to be recalled to a job from which she has been laid off. 
B) Karen,who neither has a job nor is looking for one. 
C) Mary,who worked only 35 hours last week. 
D) None of the above is correct. 
A) Shasta,who is waiting to be recalled to a job from which she has been laid off. 
B) Karen,who neither has a job nor is looking for one. 
C) Mary,who worked only 35 hours last week. 
D) None of the above is correct.

Question 15

The Bureau of Labor Statistics counts discouraged workers as

Accepted Answer

A) employed.Including them as employed makes the unemployment rate lower than otherwise. 
B) unemployed.Including them as unemployed makes the unemployment rate higher than otherwise. 
C) out of the labor force.If they were counted as unemployed the unemployment rate would be higher. 
D) None of the above is correct. 
A) employed.Including them as employed makes the unemployment rate lower than otherwise. 
B) unemployed.Including them as unemployed makes the unemployment rate higher than otherwise. 
C) out of the labor force.If they were counted as unemployed the unemployment rate would be higher. 
D) None of the above is correct.

Question 16

For the Bureau of Labor Statistics to place someone in the "unemployed" category,that person must

Accepted Answer

A) have worked no more than 10 hours during the past week.. 
B) have tried to find employment during the previous year. 
C) not have been laid off. 
D) None of the above is correct. 
A) have worked no more than 10 hours during the past week.. 
B) have tried to find employment during the previous year. 
C) not have been laid off. 
D) None of the above is correct.

Question 17

Cyclical unemployment is caused by

Accepted Answer

A) frictional and structural unemployment 
B) frictional but not structural unemployment 
C) structural but not frictional unemployment 
D) neither frictional nor structural unemployment 
A) frictional and structural unemployment 
B) frictional but not structural unemployment 
C) structural but not frictional unemployment 
D) neither frictional nor structural unemployment

Question 18

Suppose that 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 19

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Accepted Answer

A) those unemployed relative to those employed. 
B) the labor force that is unemployed. 
C) the adult population that is unemployed. 
D) the adult population that is unemployed or not in the labor force. 
A) those unemployed relative to those employed. 
B) the labor force that is unemployed. 
C) the adult population that is unemployed. 
D) the adult population that is unemployed or not in the labor force.

Question 20

Amy is working part-time.Tavaris is on temporary layoff.Who is included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A) only Amy 
B) only Tavaris 
C) both Amy and Tavaris 
D) neither Amy nor Tavaris 
A) only Amy 
B) only Tavaris 
C) both Amy and Tavaris 
D) neither Amy nor Tavaris

Exam 15: Unemployment: Identifying Unemployment

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job is

Most spells of unemployment are

Jamarcus works part-time as a pizza delivery person in a college town.The Bureau of Labor Statistics counts Jamarcus as

If an unemployed person quits looking for work,then,eventually the unemployment rate

Frictional unemployment is thought to explain relatively

People who are unemployed because of job search are best classified as

To be counted as "employed" in the U.S.labor force statistics,a person

Which of the following is not an explanation for structural unemployment?

The labor-force participation rate tells us the fraction of the population that

Which of the following is correct?

Sandy has graduated from college and is devoting her time to searching for a job.She has seen plenty of openings but has not yet been offered one that best suits her tastes and skills.Sandy is

Eric was laid off two months ago.He has not searched for other work because he is expecting to be recalled to work.The Bureau of Labor Statistics counts Eric as

Who among the following would be counted as "unemployed"?

The Bureau of Labor Statistics counts discouraged workers as

For the Bureau of Labor Statistics to place someone in the "unemployed" category,that person must

Cyclical unemployment is caused by

Suppose that 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?

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Amy is working part-time.Tavaris is on temporary layoff.Who is included in the Bureau of Labor Statistics' "employed" category?

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

Application International Trade: Part A