Question 1

The Internet my reduce frictional unemployment because it .

Accepted Answer

reduces the search c

Question 2

Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions. Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use.

Accepted Answer

A)  Bob and Tom are both frictionally unemployed. 
B)  Bob and Tom are both structurally unemployed. 
C)  Bob is frictionally unemployed, and Tom is structurally unemployed. 
D)  Bob is structurally unemployed, and Tom is frictionally unemployed. 
A)  Bob and Tom are both frictionally unemployed. 
B)  Bob and Tom are both structurally unemployed. 
C)  Bob is frictionally unemployed, and Tom is structurally unemployed. 
D)  Bob is structurally unemployed, and Tom is frictionally unemployed.

Question 3

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

Accepted Answer

A)  a higher wage paid to a more experienced worker 
B)  a below-equilibrium wage paid by a small business exempt from minimum-wage laws 
C)  an above-equilibrium wage paid by a firm to reduce turnover costs 
D)  a wage tied to participation in a government-sponsored job training program 
A)  a higher wage paid to a more experienced worker 
B)  a below-equilibrium wage paid by a small business exempt from minimum-wage laws 
C)  an above-equilibrium wage paid by a firm to reduce turnover costs 
D)  a wage tied to participation in a government-sponsored job training program

Question 4

Minimum-wage laws are least likely to affect the wages paid to

Accepted Answer

A)  teenagers. 
B)  low-skill workers. 
C)  inexperienced workers. 
D)  highly-educated workers. 
A)  teenagers. 
B)  low-skill workers. 
C)  inexperienced workers. 
D)  highly-educated workers.

Question 5

The Bureau of Labor Statistics' U­5 measure of joblessness is the official unemployment rate.

Accepted Answer

A) True 
 B)False

Question 6

Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?

Accepted Answer

A)  someone working without pay for a family member's business 
B)  someone who is absent from their job due to illness 
C)  someone on temporary layoff 
D)  All of the above are correct. 
A)  someone working without pay for a family member's business 
B)  someone who is absent from their job due to illness 
C)  someone on temporary layoff 
D)  All of the above are correct.

Question 7

A labor union is similar to a .

Accepted Answer

The answer of A labor union is similar to a...

Question 8

The amount of unemployment varies

Accepted Answer

A)  little over time and across countries. 
B)  little over time but substantially across countries. 
C)  substantially over time but little across countries. 
D)  substantially over time and across countries. 
A)  little over time and across countries. 
B)  little over time but substantially across countries. 
C)  substantially over time but little across countries. 
D)  substantially over time and across countries.

Question 9

How does the government measure the economy's rate of unemployment?

Accepted Answer

The unemployment rat

Question 10

Caroline is the owner of a hair-styling salon and spa. She decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision

Accepted Answer

A)  might increase profits if it attracts a better pool of workers to apply for jobs at her salon. 
B)  will increase the excess supply of labor. 
C)  may increase the quality of her work force. 
D)  All of the above are correct. 
A)  might increase profits if it attracts a better pool of workers to apply for jobs at her salon. 
B)  will increase the excess supply of labor. 
C)  may increase the quality of her work force. 
D)  All of the above are correct.

Question 11

Government policy can do nothing about the natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 12

Spells of unemployment end about

Accepted Answer

A)  1/5 of the time with the person leaving the labor force. 
B)  1/4 of the time with the person leaving the labor force. 
C)  1/3 of the time with the person leaving the labor force. 
D)  1/2 of the time with the person leaving the labor force. 
A)  1/5 of the time with the person leaving the labor force. 
B)  1/4 of the time with the person leaving the labor force. 
C)  1/3 of the time with the person leaving the labor force. 
D)  1/2 of the time with the person leaving the labor force.

Question 13

Karena was laid off, but she is expecting to be recalled. She has not looked for work since being laid off. Nathan is not employed, nor was he laid off. Who is counted as "unemployed" in the U.S. labor force statistics?

Accepted Answer

A)  1) Karena and 2) Nathan, even if Nathan has not looked for work during the previous four weeks 
B)  1) Karena and 2) Nathan, if Nathan has looked for work during the previous four weeks 
C)  1) not Karena but 2) Nathan, even if Nathan has not looked for work during the previous four weeks 
D)  1) not Karena but 2) Nathan, if Nathan has looked for work during the previous four weeks 
A)  1) Karena and 2) Nathan, even if Nathan has not looked for work during the previous four weeks 
B)  1) Karena and 2) Nathan, if Nathan has looked for work during the previous four weeks 
C)  1) not Karena but 2) Nathan, even if Nathan has not looked for work during the previous four weeks 
D)  1) not Karena but 2) Nathan, if Nathan has looked for work during the previous four weeks

Question 14

In the town of Gotham the adult population is 560 thousand, the number unemployed is 25 thousand, and 185 thousand are not in the labor force. Calculate the unemployment rate.

Accepted Answer

The answer of In the town of Gotham the adult...

Question 15

Minimum wages create unemployment in markets where they create a

Accepted Answer

A)  shortage of labor. Minimum wage laws are not the predominant reason for unemployment in the U.S. 
B)  shortage of labor. Minimum wage laws are the predominant reason for unemployment in the U.S. 
C)  surplus of labor. Minimum wage laws are not the predominant reason for unemployment in the U.S. 
D)  surplus of labor. Minimum wage laws are the predominant reason for unemployment in the U.S. 
A)  shortage of labor. Minimum wage laws are not the predominant reason for unemployment in the U.S. 
B)  shortage of labor. Minimum wage laws are the predominant reason for unemployment in the U.S. 
C)  surplus of labor. Minimum wage laws are not the predominant reason for unemployment in the U.S. 
D)  surplus of labor. Minimum wage laws are the predominant reason for unemployment in the U.S.

Question 16

Public policy, without intending to do so, can increase frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is correct?

Accepted Answer

A)  In unionized industries, wages are below the level that would prevail in competitive markets. 
B)  The introduction of a union in an industry increases the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and increases wages in the rest of the economy. 
C)  Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable. 
D)  All of the above are correct. 
A)  In unionized industries, wages are below the level that would prevail in competitive markets. 
B)  The introduction of a union in an industry increases the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and increases wages in the rest of the economy. 
C)  Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable. 
D)  All of the above are correct.

Question 18

The introduction of a union into an industry

Accepted Answer

A)  raises wages and employment in that industry. 
B)  lowers wages and employment in that industry. 
C)  lowers wages and raises employment in that industry. 
D)  raises wages and lowers employment in that industry. 
A)  raises wages and employment in that industry. 
B)  lowers wages and employment in that industry. 
C)  lowers wages and raises employment in that industry. 
D)  raises wages and lowers employment in that industry.

Question 19

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the lowest 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 20

More than three-fourths of the unemployed are recent entrants into the labor force.

Accepted Answer

A) True 
 B)False

The Internet my reduce frictional unemployment because it .

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

Minimum-wage laws are least likely to affect the wages paid to

The Bureau of Labor Statistics' U5 measure of joblessness is the official unemployment rate.

Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?

A labor union is similar to a .

The amount of unemployment varies

How does the government measure the economy's rate of unemployment?

Caroline is the owner of a hair-styling salon and spa. She decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision

Government policy can do nothing about the natural rate of unemployment.

Spells of unemployment end about

Karena was laid off, but she is expecting to be recalled. She has not looked for work since being laid off. Nathan is not employed, nor was he laid off. Who is counted as "unemployed" in the U.S. labor force statistics?

In the town of Gotham the adult population is 560 thousand, the number unemployed is 25 thousand, and 185 thousand are not in the labor force. Calculate the unemployment rate.

Minimum wages create unemployment in markets where they create a

Public policy, without intending to do so, can increase frictional unemployment.

Which of the following is correct?

The introduction of a union into an industry

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the lowest labor-force participation rate?

More than three-fourths of the unemployed are recent entrants into the labor force.

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

The Internet my reduce frictional unemployment because it .

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

Minimum-wage laws are least likely to affect the wages paid to

The Bureau of Labor Statistics' U­5 measure of joblessness is the official unemployment rate.

Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?

A labor union is similar to a .

The amount of unemployment varies

How does the government measure the economy's rate of unemployment?

Caroline is the owner of a hair-styling salon and spa. She decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision

Government policy can do nothing about the natural rate of unemployment.

Spells of unemployment end about

Karena was laid off, but she is expecting to be recalled. She has not looked for work since being laid off. Nathan is not employed, nor was he laid off. Who is counted as "unemployed" in the U.S. labor force statistics?

In the town of Gotham the adult population is 560 thousand, the number unemployed is 25 thousand, and 185 thousand are not in the labor force. Calculate the unemployment rate.

Minimum wages create unemployment in markets where they create a

Public policy, without intending to do so, can increase frictional unemployment.

Which of the following is correct?

The introduction of a union into an industry

According to 2012 data on the U.S. population, which of the following groups of teenagers ages 16-19) had the lowest labor-force participation rate?

More than three-fourths of the unemployed are recent entrants into the labor force.

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

The Bureau of Labor Statistics' U5 measure of joblessness is the official unemployment rate.