Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Some degree of unemployment is in a complex economy.

Accepted Answer

The answer of Some degree of unemployment is in a...

Question 3

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then job search would not be a problem.

Accepted Answer

A) True 
 B)False

Question 4

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Accepted Answer

A)  29%. 
B)  18%. 
C)  24%. 
D)  6%. 
A)  29%. 
B)  18%. 
C)  24%. 
D)  6%.

Question 5

Both full­time and part­time workers are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 6

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero.

Accepted Answer

A) True 
 B)False

Question 7

To maintain their standard of living, most people rely on

Accepted Answer

A)  government assistance. 
B)  their personal savings. 
C)  their labor earnings. 
D)  rental income. 
A)  government assistance. 
B)  their personal savings. 
C)  their labor earnings. 
D)  rental income.

Question 8

A century ago, the four industries with the largest employment in the United States were cotton goods, woolen goods, men's clothing, and lumber.

Accepted Answer

A) True 
 B)False

Question 9

The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 10

The efficiency-wage theory of worker turnover suggests that firms with higher turnover will have

Accepted Answer

A)  higher production costs and higher profits. 
B)  higher production costs and lower profits. 
C)  lower production costs and higher profits. 
D)  lower production costs and lower profits. 
A)  higher production costs and higher profits. 
B)  higher production costs and lower profits. 
C)  lower production costs and higher profits. 
D)  lower production costs and lower profits.

Question 11

A typical American worker covered by unemployment insurance receives

Accepted Answer

A)  50 percent of his former wages for 26 weeks. 
B)  50 percent of his former wages for 52 weeks. 
C)  100 percent of his former wages for 26 weeks. 
D)  100 percent of his former wages for 52 weeks. 
A)  50 percent of his former wages for 26 weeks. 
B)  50 percent of his former wages for 52 weeks. 
C)  100 percent of his former wages for 26 weeks. 
D)  100 percent of his former wages for 52 weeks.

Question 12

Most economists believe unions are bad for the economy as a whole.

Accepted Answer

A) True 
 B)False

Question 13

Most spells of unemployment are short, and most unemployment observed at any given time is long term. How can this be?

Accepted Answer

Most unemployed people in the economy ar

Question 14

Table 28-2
Labor Data for Aridia
  
-Refer to Table 28-2. The unemployment rate of Aridia in 2012 was

Accepted Answer

A)  6.25%. 
B)  11.1%. 
C)  12.5%. 
D)  56.25%. 
A)  6.25%. 
B)  11.1%. 
C)  12.5%. 
D)  56.25%.

Question 15

Table 28-2
Labor Data for Aridia
  
-Refer to Table 28-2. The labor-force participation rate of Aridia in 2012 was

Accepted Answer

A)  50%. 
B)  53.3%. 
C)  56.25%. 
D)  88.9%. 
A)  50%. 
B)  53.3%. 
C)  56.25%. 
D)  88.9%.

Question 16

Table 28-9
The table below lists the number of people by labor force classification for the country of Shelbyville.
  
-Refer to Table 28-9. What is the labor force participation rate?

Accepted Answer

The answer of Table 28-9
The table below lists the number...

Question 17

Suppose that the adult population in the country of Atlantis is 115 million. If 80 million people are employed and 5 million are unemployed, then

Accepted Answer

A)  30 million are not in the labor force. 
B)  35 million are in the labor force. 
C)  75 million are in the labor force. 
D)  35 million are not in the labor force. 
A)  30 million are not in the labor force. 
B)  35 million are in the labor force. 
C)  75 million are in the labor force. 
D)  35 million are not in the labor force.

Question 18

The introduction of a union into an industry creates a

Accepted Answer

A)  surplus of labor and so raises unemployment. 
B)  surplus of labor and so reduces unemployment. 
C)  shortage of labor and so raises unemployment. 
D)  shortage of labor and so reduces unemployment. 
A)  surplus of labor and so raises unemployment. 
B)  surplus of labor and so reduces unemployment. 
C)  shortage of labor and so raises unemployment. 
D)  shortage of labor and so reduces unemployment.

Question 19

Minimum-wage laws can keep wages

Accepted Answer

A)  above equilibrium and cause a surplus of labor. 
B)  above equilibrium and cause a shortage of labor. 
C)  below equilibrium and cause a surplus of labor. 
D)  below equilibrium and cause a shortage of labor. 
A)  above equilibrium and cause a surplus of labor. 
B)  above equilibrium and cause a shortage of labor. 
C)  below equilibrium and cause a surplus of labor. 
D)  below equilibrium and cause a shortage of labor.

Question 20

Within the U.S. population, women of prime working age ages 25-54) have higher rates of unemployment than men of prime working age ages 25-54), regardless of race.

Accepted Answer

A) True 
 B)False

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

Some degree of unemployment is in a complex economy.

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then job search would not be a problem.

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Both fulltime and parttime workers are included in the Bureau of Labor Statistics' "employed" category.

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero.

To maintain their standard of living, most people rely on

A century ago, the four industries with the largest employment in the United States were cotton goods, woolen goods, men's clothing, and lumber.

The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment.

The efficiency-wage theory of worker turnover suggests that firms with higher turnover will have

A typical American worker covered by unemployment insurance receives

Most economists believe unions are bad for the economy as a whole.

Most spells of unemployment are short, and most unemployment observed at any given time is long term. How can this be?

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia in 2012 was

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor-force participation rate of Aridia in 2012 was

Table 28-9 The table below lists the number of people by labor force classification for the country of Shelbyville. -Refer to Table 28-9. What is the labor force participation rate?

Suppose that the adult population in the country of Atlantis is 115 million. If 80 million people are employed and 5 million are unemployed, then

The introduction of a union into an industry creates a

Minimum-wage laws can keep wages

Within the U.S. population, women of prime working age ages 25-54) have higher rates of unemployment than men of prime working age ages 25-54), regardless of race.

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

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

Some degree of unemployment is in a complex economy.

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then job search would not be a problem.

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Both full­time and part­time workers are included in the Bureau of Labor Statistics' "employed" category.

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero.

To maintain their standard of living, most people rely on

A century ago, the four industries with the largest employment in the United States were cotton goods, woolen goods, men's clothing, and lumber.

The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment.

The efficiency-wage theory of worker turnover suggests that firms with higher turnover will have

A typical American worker covered by unemployment insurance receives

Most economists believe unions are bad for the economy as a whole.

Most spells of unemployment are short, and most unemployment observed at any given time is long term. How can this be?

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia in 2012 was

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor-force participation rate of Aridia in 2012 was

Table 28-9 The table below lists the number of people by labor force classification for the country of Shelbyville. -Refer to Table 28-9. What is the labor force participation rate?

Suppose that the adult population in the country of Atlantis is 115 million. If 80 million people are employed and 5 million are unemployed, then

The introduction of a union into an industry creates a

Minimum-wage laws can keep wages

Within the U.S. population, women of prime working age ages 25-54) have higher rates of unemployment than men of prime working age ages 25-54), regardless of race.

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

Both fulltime and parttime workers are included in the Bureau of Labor Statistics' "employed" category.