Question 1

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 2

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 3

Which of the following is not a cause of the decline in the U.S. men's labor­force participation rate over the past several decades?

Accepted Answer

A)  young men now stay in school longer than their fathers and grandfathers did 
B)  older men now retire earlier and live longer 
C)  with more women employed, there are fewer jobs now available to men 
D)  more fathers now stay at home to raise their children 
A)  young men now stay in school longer than their fathers and grandfathers did 
B)  older men now retire earlier and live longer 
C)  with more women employed, there are fewer jobs now available to men 
D)  more fathers now stay at home to raise their children

Question 4

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

Accepted Answer

A)  increased both from 2010 to 2011 and from 2011 to 2012. 
B)  increased from 2010 to 2011 but decreased from 2011 to 2012. 
C)  decreased from 2010 to 2011 but increased from 2011 to 2012. 
D)  decreased both from 2010 to 2011 and from 2011 to 2012. 
A)  increased both from 2010 to 2011 and from 2011 to 2012. 
B)  increased from 2010 to 2011 but decreased from 2011 to 2012. 
C)  decreased from 2010 to 2011 but increased from 2011 to 2012. 
D)  decreased both from 2010 to 2011 and from 2011 to 2012.

Question 5

Amy is working part-time. Tavaris is on temporary layoff. Who is included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)  only Amy 
B)  only Tavaris 
C)  both Amy and Tavaris 
D)  neither Amy nor Tavaris 
A)  only Amy 
B)  only Tavaris 
C)  both Amy and Tavaris 
D)  neither Amy nor Tavaris

Question 6

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Accepted Answer

A) True 
 B)False

Question 7

Define efficiency wages.

Accepted Answer

Efficiency wages are

Question 8

A labor union is similar to a ______.

Accepted Answer

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

Question 9

Table 28-6
  
-Refer to Table 28-6. What is the U-2 measure of labor underutilization?

Accepted Answer

A)  1.5% 
B)  3.1% 
C)  4.7% 
D)  6.2% 
A)  1.5% 
B)  3.1% 
C)  4.7% 
D)  6.2%

Question 10

Table 28-2
Labor Data for Aridia
  
-Refer to Table 28-2. The labor-force participation rate of Aridia in 2011 was

Accepted Answer

A)  43.3%. 
B)  54.2%. 
C)  63.3%. 
D)  68.4%. 
A)  43.3%. 
B)  54.2%. 
C)  63.3%. 
D)  68.4%.

Question 11

Unemployment insurance increases frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 12

The growth rate for the American economy is

Accepted Answer

A)  lower in the 21st century than for the previous 250 years. 
B)  higher in the 21st century than for the previous 250 years and increasing rapidly. 
C)  higher in the 21st century than for the previous 250 years but increasing slowly. 
D)  approximately equal in the 21st century and in the previous 250 years. 
A)  lower in the 21st century than for the previous 250 years. 
B)  higher in the 21st century than for the previous 250 years and increasing rapidly. 
C)  higher in the 21st century than for the previous 250 years but increasing slowly. 
D)  approximately equal in the 21st century and in the previous 250 years.

Question 13

The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity.

Accepted Answer

A) True 
 B)False

Question 14

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages (25-54) had the highest 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 15

The Bureau of Labor Statistics' U­1 measure of joblessness includes only very long­term unemployed.

Accepted Answer

A) True 
 B)False

Question 16

Table 28-6
  
-Refer to Table 28-6. What is the U-5 measure of labor underutilization?

Accepted Answer

A)  7.5% 
B)  7.9% 
C)  8.1% 
D)  26% 
A)  7.5% 
B)  7.9% 
C)  8.1% 
D)  26%

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

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Accepted Answer

A)  have worked no more than 10 hours during the past week.. 
B)  have tried to find employment during the previous year. 
C)  not have been laid off. 
D)  None of the above is correct. 
A)  have worked no more than 10 hours during the past week.. 
B)  have tried to find employment during the previous year. 
C)  not have been laid off. 
D)  None of the above is correct.

Question 19

Measuring the amount of unemployment in the economy is a straightforward task.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A)  increased both from 2010 to 2011 and from 2011 to 2012. 
B)  increased from 2010 to 2011 but decreased from 2011 to 2012. 
C)  decreased from 2010 to 2011 but increased from 2011 to 2012. 
D)  decreased both from 2010 to 2011 and from 2011 to 2012. 
A)  increased both from 2010 to 2011 and from 2011 to 2012. 
B)  increased from 2010 to 2011 but decreased from 2011 to 2012. 
C)  decreased from 2010 to 2011 but increased from 2011 to 2012. 
D)  decreased both from 2010 to 2011 and from 2011 to 2012.

Exam 20: Unemployment

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?

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?

Which of the following is not a cause of the decline in the U.S. men's labor­force participation rate over the past several decades?

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

Amy is working part-time. Tavaris is on temporary layoff. Who is included in the Bureau of Labor Statistics' "employed" category?

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Define efficiency wages.

A labor union is similar to a ______.

Table 28-6 -Refer to Table 28-6. What is the U-2 measure of labor underutilization?

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor-force participation rate of Aridia in 2011 was

Unemployment insurance increases frictional unemployment.

The growth rate for the American economy is

The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity.

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages (25-54) had the highest labor-force participation rate?

The Bureau of Labor Statistics' U­1 measure of joblessness includes only very long­term unemployed.

Table 28-6 -Refer to Table 28-6. What is the U-5 measure of labor underutilization?

Which of the following is correct?

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Measuring the amount of unemployment in the economy is a straightforward task.

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

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

Filters

Which of the following is not a cause of the decline in the U.S. men's laborforce participation rate over the past several decades?

The Bureau of Labor Statistics' U1 measure of joblessness includes only very longterm unemployed.