Question 1

Jamarcus works part-time as a pizza delivery person in a college town. The Bureau of Labor Statistics counts Jamarcus as

Accepted Answer

A)  unemployed and in the labor force. 
B)  unemployed and not in the labor force. 
C)  employed and in the labor force. 
D)  employed and not in the labor force. 
A)  unemployed and in the labor force. 
B)  unemployed and not in the labor force. 
C)  employed and in the labor force. 
D)  employed and not in the labor force.

Question 2

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 3

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

Accepted Answer

A)  3,000 
B)  4,000 
C)  5,000 
D)  7,000 
A)  3,000 
B)  4,000 
C)  5,000 
D)  7,000

Question 4

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 5

The Bureau of Labor Statistics places people in the "employed" category if they

Accepted Answer

A)  are without a job, but are available for work and have tried to find a job during the previous four weeks. 
B)  work without pay in a family member's business. 
C)  are waiting to be recalled to a job from which they had been laid off. 
D)  All of the above are correct. 
A)  are without a job, but are available for work and have tried to find a job during the previous four weeks. 
B)  work without pay in a family member's business. 
C)  are waiting to be recalled to a job from which they had been laid off. 
D)  All of the above are correct.

Question 6

The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.

Accepted Answer

A) True 
 B)False

Question 7

Wages set above the equilibrium wage by

Accepted Answer

A)  firms to increase morale are called collective bargaining wages. 
B)  lawmakers to decrease cyclical unemployment are called minimum wages laws. 
C)  firms to increase productivity are called efficiency wages. 
D)  lawmakers to decrease the length of a job search are called efficiency wages. 
A)  firms to increase morale are called collective bargaining wages. 
B)  lawmakers to decrease cyclical unemployment are called minimum wages laws. 
C)  firms to increase productivity are called efficiency wages. 
D)  lawmakers to decrease the length of a job search are called efficiency wages.

Question 8

Some adults who were not working are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 9

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 10

Table 28-8
Below is data about the labor market in the state of Northwoods.
  
-Refer to Table 28-8. If the state government imposed a minimum wage of $9, how many people would be unemployed?

Accepted Answer

A)  0 
B)  10,000 
C)  20,000 
D)  40,000 
A)  0 
B)  10,000 
C)  20,000 
D)  40,000

Question 11

Efficiency wages create structural unemployment.

Accepted Answer

A) True 
 B)False

Question 12

The Bureau of Labor Statistics produces data on unemployment, types of employment, length of the average workweek, and the duration of unemployment.

Accepted Answer

A) True 
 B)False

Question 13

Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was

Accepted Answer

A)  1.5%. 
B)  3.0%. 
C)  5.5%. 
D)  8.5%. 
A)  1.5%. 
B)  3.0%. 
C)  5.5%. 
D)  8.5%.

Question 14

Sectoral shifts contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 15

Sectoral changes in demand

Accepted Answer

A)  create frictional unemployment, while firms paying wages above equilibrium to attract a better pool of candidates creates structural unemployment. 
B)  create structural unemployment, while firms paying wages above equilibrium to attract a better pool of candidates creates frictional unemployment. 
C)  and firms paying wages above equilibrium to attract a better pool of candidates both create structural unemployment. 
D)  and firms paying wages above equilibrium to attract a better pool of candidates both create frictional unemployment. 
A)  create frictional unemployment, while firms paying wages above equilibrium to attract a better pool of candidates creates structural unemployment. 
B)  create structural unemployment, while firms paying wages above equilibrium to attract a better pool of candidates creates frictional unemployment. 
C)  and firms paying wages above equilibrium to attract a better pool of candidates both create structural unemployment. 
D)  and firms paying wages above equilibrium to attract a better pool of candidates both create frictional unemployment.

Question 16

Labor unions

Accepted Answer

A)  raise wages in unionized industries. 
B)  create labor shortages in non-unionized industries. 
C)  play a larger role in the current U.S. economy than in European countries such as Norway and Sweden. 
D)  prefer to operate in states with right-to-work laws. 
A)  raise wages in unionized industries. 
B)  create labor shortages in non-unionized industries. 
C)  play a larger role in the current U.S. economy than in European countries such as Norway and Sweden. 
D)  prefer to operate in states with right-to-work laws.

Question 17

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?

Accepted Answer

A)  1.5 million 
B)  28.5 million 
C)  30 million 
D)  47.5 million 
A)  1.5 million 
B)  28.5 million 
C)  30 million 
D)  47.5 million

Question 18

Unions contribute to

Accepted Answer

A)  structural unemployment but not the natural rate of unemployment. 
B)  the natural rate of unemployment but not structural unemployment. 
C)  both structural unemployment and the natural rate of unemployment. 
D)  neither structural unemployment nor the natural rate of unemployment. 
A)  structural unemployment but not the natural rate of unemployment. 
B)  the natural rate of unemployment but not structural unemployment. 
C)  both structural unemployment and the natural rate of unemployment. 
D)  neither structural unemployment nor the natural rate of unemployment.

Question 19

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Accepted Answer

A) True 
 B)False

Question 20

Lucy quit her job because she was unhappy at work. Genevieve was fired because she frequently surfed the Internet rather than working on her assigned tasks. Who is eligible for unemployment insurance benefits?

Accepted Answer

A)  both Lucy and Genevieve 
B)  Lucy but not Genevieve 
C)  Genevieve but not Lucy 
D)  neither Lucy nor Genevieve 
A)  both Lucy and Genevieve 
B)  Lucy but not Genevieve 
C)  Genevieve but not Lucy 
D)  neither Lucy nor Genevieve

Exam 20: Unemployment

Jamarcus works part-time as a pizza delivery person in a college town. The Bureau of Labor Statistics counts Jamarcus as

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

The introduction of a union into an industry

The Bureau of Labor Statistics places people in the "employed" category if they

The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.

Wages set above the equilibrium wage by

Some adults who were not working are included in the Bureau of Labor Statistics' "employed" category.

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

Table 28-8 Below is data about the labor market in the state of Northwoods. -Refer to Table 28-8. If the state government imposed a minimum wage of $9, how many people would be unemployed?

Efficiency wages create structural unemployment.

The Bureau of Labor Statistics produces data on unemployment, types of employment, length of the average workweek, and the duration of unemployment.

Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was

Sectoral shifts contribute to frictional unemployment.

Sectoral changes in demand

Labor unions

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?

Unions contribute to

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Lucy quit her job because she was unhappy at work. Genevieve was fired because she frequently surfed the Internet rather than working on her assigned tasks. Who is eligible for unemployment insurance benefits?

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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