Exam 10: Unemployment and Its Natural Rate

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The Bureau of Labor Statistics reported in 2005 that there were 28.19 million people over age 25 who had no high school degree or its equivalent, 11.73 million of whom were employed and 1.04 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

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

(True/False)
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Esmerelda worked part­time for her mother's business without pay. Tabitha was absent from work because she had strep throat. Who is counted as "employed" by the Bureau of Labor Statistics?

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The demand for labor by a certain firm is independent of the demand for that firm's product.

(True/False)
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Full­time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.

(True/False)
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Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were employed?

(Multiple Choice)
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Right-to-work laws

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Table 28-1 Sample Population Table 28-1 Sample Population    -Refer to Table 28-1. How many in the sample are unemployed? -Refer to Table 28-1. How many in the sample are unemployed?

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According to 2012 data on the U.S. population, which of the following was correct?

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Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well­being.

(True/False)
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Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

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Which of the following is not a commonly-cited explanation for the decreasing labor-force participation rates for men from 1950 to the present?

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When a union bargains successfully with employers, in that industry,

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Table 28-2 Labor Data for Aridia Table 28-2 Labor Data for Aridia    -Refer to Table 28-2. The unemployment rate of Aridia in 2011 was -Refer to Table 28-2. The unemployment rate of Aridia in 2011 was

(Multiple Choice)
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Figure 28-4 Figure 28-4   -Refer to Figure 28-4. If the government imposes a minimum wage of $5, how many workers will be unemployed? -Refer to Figure 28-4. If the government imposes a minimum wage of $5, how many workers will be unemployed?

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Since the 1940's U.S. union membership has

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Table 28-6 Table 28-6    -Refer to Table 28-6. What is the U-5 measure of labor underutilization? -Refer to Table 28-6. What is the U-5 measure of labor underutilization?

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Studies have shown that the design of the unemployment insurance system reduces the job search effort of the unemployed.

(True/False)
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Who among the following would be counted as "unemployed"?

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

(True/False)
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