Question 1

Table 28-2
Labor Data for Aridia
  
-Refer to Table 28-2. The labor force of Aridia in 2010 was

Accepted Answer

A)  1,400. 
B)  1,600. 
C)  1,800. 
D)  2,000. 
A)  1,400. 
B)  1,600. 
C)  1,800. 
D)  2,000.

Question 2

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 3

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such as teenagers.

Accepted Answer

A) True 
 B)False

Question 4

Public policy

Accepted Answer

A)  can reduce both frictional unemployment and the natural rate of unemployment. 
B)  can reduce frictional unemployment, but it cannot reduce the natural rate of unemployment. 
C)  cannot reduce frictional unemployment, but it can reduce the natural rate of unemployment. 
D)  cannot reduce either frictional unemployment or the natural rate of unemployment. 
A)  can reduce both frictional unemployment and the natural rate of unemployment. 
B)  can reduce frictional unemployment, but it cannot reduce the natural rate of unemployment. 
C)  cannot reduce frictional unemployment, but it can reduce the natural rate of unemployment. 
D)  cannot reduce either frictional unemployment or the natural rate of unemployment.

Question 5

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

Question 6

Unemployment insurance the amount of unemployment.

Accepted Answer

The answer of Unemployment insurance the amount of unemployment....

Question 7

Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment.
-Refer to Scenario 28-1. What is the total labor force?

Accepted Answer

A)  25 million 
B)  28 million 
C)  29 million 
D)  30 million 
A)  25 million 
B)  28 million 
C)  29 million 
D)  30 million

Question 8

Which of the following is correct?

Accepted Answer

A)  Nearly all economists believe that unions are bad for the economy as a whole. 
B)  Unionized firms pay wages above the competitive equilibrium level. 
C)  Unions increase the level of employment in unionized firms. 
D)  Unions decrease the level of employment in firms without unions. 
A)  Nearly all economists believe that unions are bad for the economy as a whole. 
B)  Unionized firms pay wages above the competitive equilibrium level. 
C)  Unions increase the level of employment in unionized firms. 
D)  Unions decrease the level of employment in firms without unions.

Question 9

Figure 28-3  
-Refer to Figure 28-3. If the government imposes a minimum wage of $8, then employment will decrease by

Accepted Answer

A)  0 workers. 
B)  2,000 workers. 
C)  3,000 workers. 
D)  4,000 workers. 
A)  0 workers. 
B)  2,000 workers. 
C)  3,000 workers. 
D)  4,000 workers.

Question 10

Collective bargaining refers to

Accepted Answer

A)  the process by which the government sets exemptions from the minimum wage law. 
B)  setting the same wage for all employees to prevent conflict among workers. 
C)  firms colluding to set the wages of employees below equilibrium. 
D)  the process by which unions and firms agree on the terms of employment. 
A)  the process by which the government sets exemptions from the minimum wage law. 
B)  setting the same wage for all employees to prevent conflict among workers. 
C)  firms colluding to set the wages of employees below equilibrium. 
D)  the process by which unions and firms agree on the terms of employment.

Question 11

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Accepted Answer

A) True 
 B)False

Question 12

Why might a favorable change in the economy, such as technological improvement or a decrease in the price of imported oil, be associated with an increase in frictional unemployment?

Accepted Answer

Even generally favorable changes will us

Question 13

The unemployment that results from the process of matching workers and jobs is called frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 14

The labor force equals the sum of the employed and the unemployed.

Accepted Answer

A) True 
 B)False

Question 15

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 16

Figure 28-3  
-Refer to Figure 28-3. If the government imposes a minimum wage of $4, how many workers will be unemployed?

Accepted Answer

A)  0 
B)  3,000 
C)  4,000 
D)  7,000 
A)  0 
B)  3,000 
C)  4,000 
D)  7,000

Question 17

A union is a type of cartel.

Accepted Answer

A) True 
 B)False

Question 18

List the four ways to explain unemployment in the long run.

Accepted Answer

search costs, minimu

Question 19

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 20

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Accepted Answer

A)  rise. The supply of workers in other similar professions will also rise. 
B)  rise. The supply of workers in other similar professions will fall. 
C)  fall. The supply of workers in other similar professions will rise. 
D)  fall. The supply of workers in other similar professions will also fall. 
A)  rise. The supply of workers in other similar professions will also rise. 
B)  rise. The supply of workers in other similar professions will fall. 
C)  fall. The supply of workers in other similar professions will rise. 
D)  fall. The supply of workers in other similar professions will also fall.

Exam 20: Unemployment

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia in 2010 was

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.

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such as teenagers.

Public policy

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.

Unemployment insurance the amount of unemployment.

Which of the following is correct?

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $8, then employment will decrease by

Collective bargaining refers to

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Why might a favorable change in the economy, such as technological improvement or a decrease in the price of imported oil, be associated with an increase in frictional unemployment?

The unemployment that results from the process of matching workers and jobs is called frictional unemployment.

The labor force equals the sum of the employed and the unemployed.

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

Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $4, how many workers will be unemployed?

A union is a type of cartel.

List the four ways to explain unemployment in the long run.

Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy's natural rate of unemployment.

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Application

Supply, Demand, and Government Policies

Consumers, Producers, and the Efficiency of Markets

Application: The Costs of Taxation

Application: International Trade

Externalities

Public Goods and Common Resources

The Costs of Production

Firms in Competitive Markets

Monopoly

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

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

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