Question 1

If the natural rate of unemployment is 5.2 percent and the actual rate of unemployment is 5.7 percent,then by definition there is

Accepted Answer

A) cyclical unemployment amounting to 0.5 percent of the labor force. 
B) frictional unemployment amounting to 0.5 percent of the labor force. 
C) structural unemployment amounting to 0.5 percent of the labor force. 
D) search unemployment amounting to 0.5 percent of the labor force. 
A) cyclical unemployment amounting to 0.5 percent of the labor force. 
B) frictional unemployment amounting to 0.5 percent of the labor force. 
C) structural unemployment amounting to 0.5 percent of the labor force. 
D) search unemployment amounting to 0.5 percent of the labor force.

Question 2

Which of the following is a cause of the changing role of women in American society over the past several decades?

Accepted Answer

A) new technologies that have reduced the amount of time required to complete routine household tasks 
B) improved birth control 
C) changing political and social attitudes 
D) All of the above are correct. 
A) new technologies that have reduced the amount of time required to complete routine household tasks 
B) improved birth control 
C) changing political and social attitudes 
D) All of the above are correct.

Question 3

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.How many people are unemployed?

Accepted Answer

A) 1 million 
B) 3 million 
C) 4 million 
D) 5 million 
A) 1 million 
B) 3 million 
C) 4 million 
D) 5 million

Question 4

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

Accepted Answer

A) Miguel,who is on temporary layoff 
B) Reta,who worked only 15 hours last week 
C) Marisa,who neither has a job nor is looking for one 
D) None of the above is correct. 
A) Miguel,who is on temporary layoff 
B) Reta,who worked only 15 hours last week 
C) Marisa,who neither has a job nor is looking for one 
D) None of the above is correct.

Question 5

Over the past several decades in the United States,the labor-force participation rate of women has

Accepted Answer

A) increased,and the labor-force participation rate of men has increased. 
B) increased,and the labor-force participation rate of men has decreased. 
C) decreased,and the labor-force participation rate of men has increased. 
D) decreased,and the labor-force participation rate of men has decreased. 
A) increased,and the labor-force participation rate of men has increased. 
B) increased,and the labor-force participation rate of men has decreased. 
C) decreased,and the labor-force participation rate of men has increased. 
D) decreased,and the labor-force participation rate of men has decreased.

Question 6

Who would be included in the labor force?

Accepted Answer

A) Louie,who is waiting for his new job to start 
B) Daisey,who has become discouraged looking for a job and has quit looking 
C) Donald,an unpaid stay-at-home father 
D) None of the above is correct. 
A) Louie,who is waiting for his new job to start 
B) Daisey,who has become discouraged looking for a job and has quit looking 
C) Donald,an unpaid stay-at-home father 
D) None of the above is correct.

Question 7

Adam is looking for a job in marketing.He has had some offers and his prospects are promising,but he has not yet accepted a job.Amanda lost her job working for Mercury Bicycles because many customers decided they prefer bicycles manufactured by Ultimate Bicycles instead.Who is frictionally unemployed?

Accepted Answer

A) Adam but not Amanda 
B) Amanda but not Adam 
C) both Adam and Amanda 
D) neither Amanda nor Adam 
A) Adam but not Amanda 
B) Amanda but not Adam 
C) both Adam and Amanda 
D) neither Amanda nor Adam

Question 8

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

Accepted Answer

A) Juan Carlos,a full-time student who is not looking for work 
B) Kevin,who is on temporary layoff 
C) Andrea,who has retired and is not looking for work 
D) All of the above are correct. 
A) Juan Carlos,a full-time student who is not looking for work 
B) Kevin,who is on temporary layoff 
C) Andrea,who has retired and is not looking for work 
D) All of the above are correct.

Question 9

In one year,you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year.What percentage of the unemployment spells you encountered was short term,and what percentage of the unemployment you encountered in a given week was long term?

Accepted Answer

A) 52% was short term;13.3% was long term 
B) 52% was short term;88.9% was long term 
C) 86.7% was short term;13.3% was long term 
D) 86.7% was short term;88.9% was long term 
A) 52% was short term;13.3% was long term 
B) 52% was short term;88.9% was long term 
C) 86.7% was short term;13.3% was long term 
D) 86.7% was short term;88.9% was long term

Question 10

Jai Li just lost her job,and she has not yet started looking for a new one.The Bureau of Labor Statistics counts Jai Li as

Accepted Answer

A) unemployed and in the labor force. 
B) unemployed but not in the labor force. 
C) in the labor force but not unemployed. 
D) neither in the labor force nor unemployed. 
A) unemployed and in the labor force. 
B) unemployed but not in the labor force. 
C) in the labor force but not unemployed. 
D) neither in the labor force nor unemployed.

Question 11

Suppose that the adult population is 4 million,the number of unemployed is 0.25 million,and the labor-force participation rate is 75%.What is the unemployment rate?

Accepted Answer

A) 6.25% 
B) 8.3% 
C) 9.1% 
D) 18.75% 
A) 6.25% 
B) 8.3% 
C) 9.1% 
D) 18.75%

Question 12

Satchel loses his job and immediately begins looking for another.Other things the same,the unemployment rate

Accepted Answer

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

Question 13

Octavia does not currently have a job,but she has applied for several jobs in the previous week.Eve is an unpaid stay-at-home mom who has not searched for work in recent years.Who does the Bureau of Labor Statistics count as "out of the labor force"?

Accepted Answer

A) Octavia but not Eve 
B) Eve but not Octavia 
C) both Octavia and Eve 
D) neither Octavia nor Eve 
A) Octavia but not Eve 
B) Eve but not Octavia 
C) both Octavia and Eve 
D) neither Octavia nor Eve

Question 14

A survey showed that in each of the past 12 months there was one person who was unemployed who worked in all other months.There were also two people who were unemployed for all 12 months.What percentage of the unemployment spells during the year was short term,and what percentage of the unemployment in a given month was long term?

Accepted Answer

A) 75% was short term;33.3% was long term 
B) 75% was short term;66.7% was long term 
C) 85.7% was short term;33.3% was long term 
D) 85.7% was short term;66.7% was long term 
A) 75% was short term;33.3% was long term 
B) 75% was short term;66.7% was long term 
C) 85.7% was short term;33.3% was long term 
D) 85.7% was short term;66.7% was long term

Question 15

Sheila is on a temporary layoff from her automobile factory job but has not looked for work in the last four weeks.The Bureau of Labor Statistics counts Sheila 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 16

Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

Accepted Answer

A) Both the first and the second fact tend to make the reported unemployment rate lower than otherwise. 
B) Both the first and the second fact tend to make the reported unemployment rate higher than otherwise. 
C) The first fact tends to make the reported unemployment rate higher than otherwise,while the second fact tends to make the reported unemployment rate lower than otherwise. 
D) The first fact tends to make the reported unemployment rate lower than otherwise,while the second fact tends to make the reported unemployment rate higher than otherwise. 
A) Both the first and the second fact tend to make the reported unemployment rate lower than otherwise. 
B) Both the first and the second fact tend to make the reported unemployment rate higher than otherwise. 
C) The first fact tends to make the reported unemployment rate higher than otherwise,while the second fact tends to make the reported unemployment rate lower than otherwise. 
D) The first fact tends to make the reported unemployment rate lower than otherwise,while the second fact tends to make the reported unemployment rate higher than otherwise.

Question 17

Unemployment data are collected

Accepted Answer

A) from unemployment insurance claims. 
B) through a regular survey of about 60,000 households. 
C) through a regular survey of about 200,000 firms. 
D) All of the above are correct. 
A) from unemployment insurance claims. 
B) through a regular survey of about 60,000 households. 
C) through a regular survey of about 200,000 firms. 
D) All of the above are correct.

Question 18

According to 2014 data on the U.S.population,which of the following groups of adults of prime working age (ages 25-54)had 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 19

Measuring unemployment is the job of the

Accepted Answer

A) Congressional Budget Office. 
B) Department of Commerce. 
C) Council of Economic Advisers. 
D) Bureau of Labor Statistics. 
A) Congressional Budget Office. 
B) Department of Commerce. 
C) Council of Economic Advisers. 
D) Bureau of Labor Statistics.

Question 20

According to 2014 data on the U.S.population,which of the following groups of teenagers (ages 16-19)had the highest unemployment 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

Exam 15: Unemployment: Identifying Unemployment

If the natural rate of unemployment is 5.2 percent and the actual rate of unemployment is 5.7 percent,then by definition there is

Which of the following is a cause of the changing role of women in American society over the past several decades?

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

Over the past several decades in the United States,the labor-force participation rate of women has

Who would be included in the labor force?

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

In one year,you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year.What percentage of the unemployment spells you encountered was short term,and what percentage of the unemployment you encountered in a given week was long term?

Jai Li just lost her job,and she has not yet started looking for a new one.The Bureau of Labor Statistics counts Jai Li as

Suppose that the adult population is 4 million,the number of unemployed is 0.25 million,and the labor-force participation rate is 75%.What is the unemployment rate?

Satchel loses his job and immediately begins looking for another.Other things the same,the unemployment rate

Octavia does not currently have a job,but she has applied for several jobs in the previous week.Eve is an unpaid stay-at-home mom who has not searched for work in recent years.Who does the Bureau of Labor Statistics count as "out of the labor force"?

Sheila is on a temporary layoff from her automobile factory job but has not looked for work in the last four weeks.The Bureau of Labor Statistics counts Sheila as

Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

Unemployment data are collected

According to 2014 data on the U.S.population,which of the following groups of adults of prime working age (ages 25-54)had the highest labor-force participation rate?

Measuring unemployment is the job of the

According to 2014 data on the U.S.population,which of the following groups of teenagers (ages 16-19)had the highest unemployment rate?

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

Application International Trade: Part B

Measuring a Nations Income