Question 1

Which of the following is an example of an efficiency wage?

Accepted Answer

A)  a high wage paid to compensate for dangerous work such as coal mining 
B)  an above-equilibrium wage offered by a firm to attract a more talented pool of job applicants 
C)  a wage below the minimum wage but supplemented by customer tips 
D)  a high wage paid to a college graduate for a high-skill job such as electrical engineering 
A)  a high wage paid to compensate for dangerous work such as coal mining 
B)  an above-equilibrium wage offered by a firm to attract a more talented pool of job applicants 
C)  a wage below the minimum wage but supplemented by customer tips 
D)  a high wage paid to a college graduate for a high-skill job such as electrical engineering

Question 2

Which of the following is not correct?

Accepted Answer

A)  Frictional unemployment results from the process of matching workers and jobs. 
B)  Structural unemployment results when the number of jobs is insufficient for the number of workers. 
C)  Minimum wages are the predominant reason for unemployment in the U.S. economy. 
D)  When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. 
A)  Frictional unemployment results from the process of matching workers and jobs. 
B)  Structural unemployment results when the number of jobs is insufficient for the number of workers. 
C)  Minimum wages are the predominant reason for unemployment in the U.S. economy. 
D)  When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.

Question 3

Table 28-7
Below is data about the labor market in the city of Productionville.
  
-Refer to Table 28-7. If the local government imposed a minimum wage of $7 in Productionville, how many people would be unemployed?

Accepted Answer

A)  0 
B)  2,000 
C)  5,000 
D)  10,000 
A)  0 
B)  2,000 
C)  5,000 
D)  10,000

Question 4

Figure 28-7  
-Refer to Figure 28-7. If the minimum wage is set at $100, how many will be unemployed?

Accepted Answer

The answer of Figure 28-7  
-Refer to Figure 28-7....

Question 5

Sectoral shifts contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 6

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 7

Table 28-3
2009 Labor Data for Baltivia
  
-Refer to Table 28-3. How many people were employed in Baltivia in 2009?

Accepted Answer

A)  9,600 
B)  10,600 
C)  11,000 
D)  11,200 
A)  9,600 
B)  10,600 
C)  11,000 
D)  11,200

Question 8

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 9

Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.

Accepted Answer

A) True 
 B)False

Question 10

Today, the four industries with the largest employment in the United States are autos, aircraft, communications, and electrical components.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  about 25 percent, and in 2012, it was about 50 percent. 
B)  about 33 percent, and in 2012, it was about 60 percent. 
C)  about 50 percent, and in 2012, it was about 70 percent. 
D)  about 60 percent, and in 2012, it was about 80 percent. 
A)  about 25 percent, and in 2012, it was about 50 percent. 
B)  about 33 percent, and in 2012, it was about 60 percent. 
C)  about 50 percent, and in 2012, it was about 70 percent. 
D)  about 60 percent, and in 2012, it was about 80 percent.

Question 12

Cyclical unemployment is closely associated with

Accepted Answer

A)  long-term economic growth. 
B)  short-run ups and downs of the economy. 
C)  fluctuations in the natural rate of unemployment. 
D)  changes in the minimum wage. 
A)  long-term economic growth. 
B)  short-run ups and downs of the economy. 
C)  fluctuations in the natural rate of unemployment. 
D)  changes in the minimum wage.

Question 13

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 14

Efficiency-wage theory suggests that paying

Accepted Answer

A)  low wages might be profitable because they raise the efficiency of a firm's workers. 
B)  low wages might be profitable because they lower the efficiency of a firm's workers. 
C)  high wages might be profitable because they raise the efficiency of a firm's workers. 
D)  high wages might be profitable because they lower the efficiency of a firm's workers. 
A)  low wages might be profitable because they raise the efficiency of a firm's workers. 
B)  low wages might be profitable because they lower the efficiency of a firm's workers. 
C)  high wages might be profitable because they raise the efficiency of a firm's workers. 
D)  high wages might be profitable because they lower the efficiency of a firm's workers.

Question 15

Table 28-10
The table below lists the number of people by labor force classification for the country of Springfield.
  
-Refer to Table 28-10. Calculate the number in the adult population, and the labor force participation rate.

Accepted Answer

The adult population

Question 16

Job search is the process of matching workers with appropriate jobs.

Accepted Answer

A) True 
 B)False

Question 17

Some of a firm's workers are made worse off by the introduction of a union.

Accepted Answer

A) True 
 B)False

Question 18

Table 28-3
2009 Labor Data for Baltivia
  
-Refer to Table 28-3. What was Baltivia's labor­force participation rate in 2009?

Accepted Answer

A)  55% 
B)  63% 
C)  66.9% 
D)  87.3% 
A)  55% 
B)  63% 
C)  66.9% 
D)  87.3%

Question 19

Figure 28-3  
-Refer to Figure 28-3. At the equilibrium wage, how many workers are employed?

Accepted Answer

A)  0 
B)  1,000 
C)  5,000 
D)  9,000 
A)  0 
B)  1,000 
C)  5,000 
D)  9,000

Question 20

Tatiana is waiting to be recalled to a job from which she was laid off. Ivan was fired but has not looked for work during the last two months. Who does the Bureau of Labor Statistics count as "unemployed"?

Accepted Answer

A)  Tatiana but not Ivan 
B)  Ivan but not Tatiana 
C)  both Ivan and Tatiana 
D)  neither Ivan nor Tatiana 
A)  Tatiana but not Ivan 
B)  Ivan but not Tatiana 
C)  both Ivan and Tatiana 
D)  neither Ivan nor Tatiana

Which of the following is an example of an efficiency wage?

Which of the following is not correct?

Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $7 in Productionville, how many people would be unemployed?

Figure 28-7 -Refer to Figure 28-7. If the minimum wage is set at $100, how many will be unemployed?

Sectoral shifts contribute to frictional unemployment.

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

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.

Today, the four industries with the largest employment in the United States are autos, aircraft, communications, and electrical components.

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

Cyclical unemployment is closely associated with

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?

Efficiency-wage theory suggests that paying

Table 28-10 The table below lists the number of people by labor force classification for the country of Springfield. -Refer to Table 28-10. Calculate the number in the adult population, and the labor force participation rate.

Job search is the process of matching workers with appropriate jobs.

Some of a firm's workers are made worse off by the introduction of a union.

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's laborforce participation rate in 2009?

Figure 28-3 -Refer to Figure 28-3. At the equilibrium wage, how many workers are employed?

Tatiana is waiting to be recalled to a job from which she was laid off. Ivan was fired but has not looked for work during the last two months. Who does the Bureau of Labor Statistics count as "unemployed"?

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

Exam 10: Unemployment and Its Natural Rate

Which of the following is an example of an efficiency wage?

Which of the following is not correct?

Table 28-7 Below is data about the labor market in the city of Productionville. -Refer to Table 28-7. If the local government imposed a minimum wage of $7 in Productionville, how many people would be unemployed?

Figure 28-7 -Refer to Figure 28-7. If the minimum wage is set at $100, how many will be unemployed?

Sectoral shifts contribute to frictional unemployment.

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

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.

Today, the four industries with the largest employment in the United States are autos, aircraft, communications, and electrical components.

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

Cyclical unemployment is closely associated with

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?

Efficiency-wage theory suggests that paying

Table 28-10 The table below lists the number of people by labor force classification for the country of Springfield. -Refer to Table 28-10. Calculate the number in the adult population, and the labor force participation rate.

Job search is the process of matching workers with appropriate jobs.

Some of a firm's workers are made worse off by the introduction of a union.

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's labor­force participation rate in 2009?

Figure 28-3 -Refer to Figure 28-3. At the equilibrium wage, how many workers are employed?

Tatiana is waiting to be recalled to a job from which she was laid off. Ivan was fired but has not looked for work during the last two months. Who does the Bureau of Labor Statistics count as "unemployed"?

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

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. What was Baltivia's laborforce participation rate in 2009?