Exam 20: Unemployment

U.S. Department of Labor data show that minimum-wage workers tend to be young, less educated, more likely to be working part time, and concentrated in the leisure and hospitality industry.

Which of the following is not correct?

In the long run the unemployment rate equals

Spells of unemployment end about

Unemployment that results because the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one is called

In the 1940s and 1950s, about one-third of U.S. workers belonged to unions, but today, only about one-fifth of U.S. workers belong to unions.

Most job search in the U.S. economy takes place without intervention by the government.

The Bureau of Labor Statistics reported in 2005 that there were 50.40 million people over age 25 whose highest level of education was some college or an associate degree, 33.86 million of whom were employed and 1.27 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

Data show that at least 20 percent of U.S. manufacturing jobs are destroyed every year.

Briefly compare the structural unemployment that arises from minimum-wage laws to the frictional unemployment that arises from the process of job search.

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job- market related reason for not currently looking for a job.

The unemployed who quit their jobs, were fired for cause, or just entered the labor force are eligible for unemployment insurance.

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Rafael is the newly­appointed plant manager for a company that manufactures head phones. Rafael's senior supervisors told him that the output the firm produces, given the number of workers employed, indicates that some workers may be shirking. According to efficiency wage theory, what should he do?

Tatiana is waiting to be recalled to a job from which she was laid off. Ivan was fired but has not looked for work during the last two months. Who does the Bureau of Labor Statistics count as "unemployed"?

Figure 28-3 -Refer to Figure 28-3. At the equilibrium wage, how many workers are unemployed?

In the early 1900s, Henry Ford introduced a

In terms of duration, how does cyclical unemployment differ from structural unemployment?

The Wagner Act of 1935