Question 1

Just after World War II, the labor-force participation rate of men was

Accepted Answer

A)  about 33 percent, and in 2012, it was about 50 percent. 
B)  about 50 percent, and in 2012, it was about 60 percent. 
C)  about 60 percent, and in 2012, it was about 60 percent. 
D)  about 90 percent, and in 2012, it was about 70 percent. 
A)  about 33 percent, and in 2012, it was about 50 percent. 
B)  about 50 percent, and in 2012, it was about 60 percent. 
C)  about 60 percent, and in 2012, it was about 60 percent. 
D)  about 90 percent, and in 2012, it was about 70 percent.

Question 2

Unions are exempt from U.S. antitrust laws.

Accepted Answer

A) True 
 B)False

Question 3

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Accepted Answer

A) True 
 B)False

Question 4

Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)  Dia, an unpaid homemaker not looking for other work 
B)  Kevin, a full-time student not looking for work 
C)  Sarah, who does not have a job but is looking for work 
D)  None of the above is correct. 
A)  Dia, an unpaid homemaker not looking for other work 
B)  Kevin, a full-time student not looking for work 
C)  Sarah, who does not have a job but is looking for work 
D)  None of the above is correct.

Question 5

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Accepted Answer

A) True 
 B)False

Question 6

Briefly summarize the advantages and disadvantages of unemployment insurance.

Accepted Answer

The main advantage is that unemployment

Question 7

Briefly describe how labor unions can affect wages in non-unionized industries.

Accepted Answer

If labor unions raise wages above the eq

Question 8

If the wage is kept above the equilibrium wage for any reason, the result is

Accepted Answer

A)  cyclical unemployment. 
B)  frictional unemployment. 
C)  seasonal unemployment. 
D)  structural unemployment. 
A)  cyclical unemployment. 
B)  frictional unemployment. 
C)  seasonal unemployment. 
D)  structural unemployment.

Question 9

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Italian adult non- institutionalized population was 51.070 million, the labor force was 24.710 million, and the number of people employed was 22.765 million. According to these numbers, the Italian labor-force participation rate and unemployment rate were about

Accepted Answer

A)  48.4% and 7.9%. 
B)  48.4% and 3.8%. 
C)  44.6% and 7.9% 
D)  44.6% and 3.8% 
A)  48.4% and 7.9%. 
B)  48.4% and 3.8%. 
C)  44.6% and 7.9% 
D)  44.6% and 3.8%

Question 10

Which of the following is not a contention of advocates of unions?

Accepted Answer

A)  Unions are a necessary antidote to the market power of the firms that hire workers. 
B)  In the case of a "company town," a union may balance the firm's market power and protect the workers from being at the mercy of the firm's owners. 
C)  The introduction of a union benefits all workers in a firm. 
D)  Unions are important for helping firms respond efficiently to workers' concerns. 
A)  Unions are a necessary antidote to the market power of the firms that hire workers. 
B)  In the case of a "company town," a union may balance the firm's market power and protect the workers from being at the mercy of the firm's owners. 
C)  The introduction of a union benefits all workers in a firm. 
D)  Unions are important for helping firms respond efficiently to workers' concerns.

Question 11

An increase in the minimum wage

Accepted Answer

A)  reduces structural unemployment. 
B)  reduces frictional unemployment, 
C)  increases structural unemployment. 
D)  increases frictional unemployment. 
A)  reduces structural unemployment. 
B)  reduces frictional unemployment, 
C)  increases structural unemployment. 
D)  increases frictional unemployment.

Question 12

Table 28-11
2010 Labor Data for Tajnia
  
-Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Accepted Answer

A) True 
 B)False

Question 13

Figure 28-4  
-Refer to Figure 28-4. If 4,000 workers are unemployed, then the minimum wage must be

Accepted Answer

A)  $2. 
B)  $4. 
C)  $5. 
D)  $6. 
A)  $2. 
B)  $4. 
C)  $5. 
D)  $6.

Question 14

Most job search in the U.S. economy takes place without intervention by the government.

Accepted Answer

A) True 
 B)False

Question 15

Buddy is the owner of a firm that bottles beer in St. Louis, Missouri. There are many other such firms in the area. Buddy decides that if he pays his workers a wage higher than the going market wage, his profits will increase. Which of the following is a likely explanation for his decision?

Accepted Answer

A)  The higher the wage, the less often his workers will choose to leave his firm. 
B)  The higher the wage, the lower will be the costs of obtaining needed supplies. 
C)  The higher the wage, the more he can charge for his beer 
D)  The higher the wage, the more he will have to monitor his workers for shirking. 
A)  The higher the wage, the less often his workers will choose to leave his firm. 
B)  The higher the wage, the lower will be the costs of obtaining needed supplies. 
C)  The higher the wage, the more he can charge for his beer 
D)  The higher the wage, the more he will have to monitor his workers for shirking.

Question 16

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Accepted Answer

A) True 
 B)False

Question 17

Someone who loses his job at a truck factory because the demand for trucks has fallen and the demand for cars has risen, is structurally unemployed.

Accepted Answer

A) True 
 B)False

Question 18

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Accepted Answer

A)  Black females had higher labor-force participation rates and lower unemployment rates compared to white females. 
B)  Black females had similar labor-force participation rates and higher unemployment rates compared to white females. 
C)  Black females had both lower labor-force participation rates and lower unemployment rates compared to white females. 
D)  Black females had lower labor-force participation rates and higher unemployment rates compared to white females. 
A)  Black females had higher labor-force participation rates and lower unemployment rates compared to white females. 
B)  Black females had similar labor-force participation rates and higher unemployment rates compared to white females. 
C)  Black females had both lower labor-force participation rates and lower unemployment rates compared to white females. 
D)  Black females had lower labor-force participation rates and higher unemployment rates compared to white females.

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Table 28-6
  
-Refer to Table 28-6. What is the U-3 measure of labor underutilization?

Accepted Answer

A)  4.7% 
B)  6.2% 
C)  7.0% 
D)  10.9% 
A)  4.7% 
B)  6.2% 
C)  7.0% 
D)  10.9%

Just after World War II, the labor-force participation rate of men was

Unions are exempt from U.S. antitrust laws.

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Who is included in the labor force by the Bureau of Labor Statistics?

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Briefly summarize the advantages and disadvantages of unemployment insurance.

Briefly describe how labor unions can affect wages in non-unionized industries.

If the wage is kept above the equilibrium wage for any reason, the result is

Which of the following is not a contention of advocates of unions?

An increase in the minimum wage

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Figure 28-4 -Refer to Figure 28-4. If 4,000 workers are unemployed, then the minimum wage must be

Most job search in the U.S. economy takes place without intervention by the government.

Buddy is the owner of a firm that bottles beer in St. Louis, Missouri. There are many other such firms in the area. Buddy decides that if he pays his workers a wage higher than the going market wage, his profits will increase. Which of the following is a likely explanation for his decision?

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Someone who loses his job at a truck factory because the demand for trucks has fallen and the demand for cars has risen, is structurally unemployed.

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

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

Table 28-6 -Refer to Table 28-6. What is the U-3 measure of labor underutilization?

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Measuring a Nations Income

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

The Basic Tools of Finance

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Tradeoff Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

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Exam 10: Unemployment and Its Natural Rate

Just after World War II, the labor-force participation rate of men was

Unions are exempt from U.S. antitrust laws.

A union is an employer association that bargains with workers over wages, benefits, and working conditions.

Who is included in the labor force by the Bureau of Labor Statistics?

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Briefly summarize the advantages and disadvantages of unemployment insurance.

Briefly describe how labor unions can affect wages in non-unionized industries.

If the wage is kept above the equilibrium wage for any reason, the result is

Which of the following is not a contention of advocates of unions?

An increase in the minimum wage

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Figure 28-4 -Refer to Figure 28-4. If 4,000 workers are unemployed, then the minimum wage must be

Most job search in the U.S. economy takes place without intervention by the government.

Buddy is the owner of a firm that bottles beer in St. Louis, Missouri. There are many other such firms in the area. Buddy decides that if he pays his workers a wage higher than the going market wage, his profits will increase. Which of the following is a likely explanation for his decision?

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Someone who loses his job at a truck factory because the demand for trucks has fallen and the demand for cars has risen, is structurally unemployed.

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

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

Table 28-6 -Refer to Table 28-6. What is the U-3 measure of labor underutilization?

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Measuring a Nations Income

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

The Basic Tools of Finance

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Tradeoff Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

Filters