Question 1

Who in the adult population is counted as "employed" in U.S. labor statistics?

Accepted Answer

A)  people who are temporarily absent from their job and people who work without pay in a family member's business 
B)  people who are temporarily absent from their job but not people who work without pay in a family member's business 
C)  people who work without pay in a family member's business but not people who are temporarily absent from their job 
D)  neither people who are temporarily absent from their job nor people who work without pay in a family member's business 
A)  people who are temporarily absent from their job and people who work without pay in a family member's business 
B)  people who are temporarily absent from their job but not people who work without pay in a family member's business 
C)  people who work without pay in a family member's business but not people who are temporarily absent from their job 
D)  neither people who are temporarily absent from their job nor people who work without pay in a family member's business

Question 2

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job is

Accepted Answer

A)  counted as out of the labor force but should be counted as unemployed. 
B)  counted as unemployed but should be counted as out of the labor force. 
C)  correctly counted as out of the labor force. 
D)  correctly counted as unemployed. 
A)  counted as out of the labor force but should be counted as unemployed. 
B)  counted as unemployed but should be counted as out of the labor force. 
C)  correctly counted as out of the labor force. 
D)  correctly counted as unemployed.

Question 3

Over the past several decades in the United States, the labor-force participation rate of women has

Accepted Answer

A)  increased, and the labor-force participation rate of men has increased. 
B)  increased, and the labor-force participation rate of men has decreased. 
C)  decreased, and the labor-force participation rate of men has increased. 
D)  decreased, and the labor-force participation rate of men has decreased. 
A)  increased, and the labor-force participation rate of men has increased. 
B)  increased, and the labor-force participation rate of men has decreased. 
C)  decreased, and the labor-force participation rate of men has increased. 
D)  decreased, and the labor-force participation rate of men has decreased.

Question 4

An economy's natural rate of unemployment is the

Accepted Answer

A)  economy's long­run target level of unemployment. 
B)  amount of unemployment that the economy normally experiences. 
C)  lowest rate of unemployment the economy can achieve. 
D)  All of the above are correct. 
A)  economy's long­run target level of unemployment. 
B)  amount of unemployment that the economy normally experiences. 
C)  lowest rate of unemployment the economy can achieve. 
D)  All of the above are correct.

Question 5

The labor-force participation rate equals the percentage of the labor force that is employed.

Accepted Answer

A) True 
 B)False

Question 6

Sectoral shifts temporarily cause unemployment.

Accepted Answer

A) True 
 B)False

Question 7

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Accepted Answer

A) True 
 B)False

Question 8

People who are unemployed because they are in search of a job that suits their skills are included within

Accepted Answer

A)  structural unemployment. 
B)  frictional unemployment. 
C)  cyclical unemployment. 
D)  marginal unemployment. 
A)  structural unemployment. 
B)  frictional unemployment. 
C)  cyclical unemployment. 
D)  marginal unemployment.

Question 9

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 unemployment rate?

Accepted Answer

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

Question 10

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 11

Figure 28-7  
-Refer to Figure 28-7. Without a minimum wage, what is the equilibrium level of employment? Explain what happens to the level of employment if the minimum wage is equal to $125.

Accepted Answer

Without a minimum wage, employ

Question 12

Table 28-4
2010 Labor Data for Adults ages 16 and older) in Meditor
  
-Refer to Table 28-4. What is the adult female population in Meditor?

Accepted Answer

A)  40 million 
B)  70 million 
C)  100 million 
D)  105 million 
A)  40 million 
B)  70 million 
C)  100 million 
D)  105 million

Question 13

If outsiders had more say in union contracts then it is likely that union wages would be

Accepted Answer

A)  higher so unemployment would be higher. 
B)  higher so unemployment would be lower. 
C)  lower so unemployment would be higher. 
D)  lower so unemployment would be lower. 
A)  higher so unemployment would be higher. 
B)  higher so unemployment would be lower. 
C)  lower so unemployment would be higher. 
D)  lower so unemployment would be lower.

Question 14

If unions were formed in more industries, the supply of labor in other industries would

Accepted Answer

A)  increase, causing employment in other industries to rise. 
B)  increase, causing employment in other industries to fall. 
C)  decrease, causing employment in other industries to rise. 
D)  decrease, causing employment in other industries to fall. 
A)  increase, causing employment in other industries to rise. 
B)  increase, causing employment in other industries to fall. 
C)  decrease, causing employment in other industries to rise. 
D)  decrease, causing employment in other industries to fall.

Question 15

Table 28-3
2009 Labor Data for Baltivia
  
-Refer to Table 28-3. How many people were employed in Baltivia in 2009?

Accepted Answer

A)  9,600 
B)  10,600 
C)  11,000 
D)  11,200 
A)  9,600 
B)  10,600 
C)  11,000 
D)  11,200

Question 16

The adult population must equal the sum of the employed and the unemployed.

Accepted Answer

A) True 
 B)False

Question 17

The Bureau of Labor Statistics produces data on unemployment based on the number of people collecting unemployment insurance.

Accepted Answer

A) True 
 B)False

Question 18

The table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table.

Accepted Answer

The answer of The table below uses data for the...

Question 19

Unemployment insurance reduces the incentive for the unemployed to find and take new jobs.

Accepted Answer

A) True 
 B)False

Question 20

Only paid workers are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

Who in the adult population is counted as "employed" in U.S. labor statistics?

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job is

Over the past several decades in the United States, the labor-force participation rate of women has

An economy's natural rate of unemployment is the

The labor-force participation rate equals the percentage of the labor force that is employed.

Sectoral shifts temporarily cause unemployment.

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

People who are unemployed because they are in search of a job that suits their skills are included within

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 unemployment 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

Figure 28-7 -Refer to Figure 28-7. Without a minimum wage, what is the equilibrium level of employment? Explain what happens to the level of employment if the minimum wage is equal to $125.

Table 28-4 2010 Labor Data for Adults ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult female population in Meditor?

If outsiders had more say in union contracts then it is likely that union wages would be

If unions were formed in more industries, the supply of labor in other industries would

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

The adult population must equal the sum of the employed and the unemployed.

The Bureau of Labor Statistics produces data on unemployment based on the number of people collecting unemployment insurance.

The table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table.

Unemployment insurance reduces the incentive for the unemployed to find and take new jobs.

Only paid workers are included in the Bureau of Labor Statistics' "employed" category.

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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