Question 1

Figure 28-4  
-Refer to Figure 28-4. If the government imposes a minimum wage of $2, how many workers will be unemployed?

Accepted Answer

A)  0 
B)  2,000 
C)  4,000 
D)  6,000 
A)  0 
B)  2,000 
C)  4,000 
D)  6,000

Question 2

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Accepted Answer

A) True 
 B)False

Question 3

The National Labor Relations Board

Accepted Answer

A)  enforces antitrust laws against unions. 
B)  enforces workers' rights to unionize. 
C)  acts as a union's representative in collective bargaining. 
D)  is required to approve all collective bargaining agreements before they can be enforced. 
A)  enforces antitrust laws against unions. 
B)  enforces workers' rights to unionize. 
C)  acts as a union's representative in collective bargaining. 
D)  is required to approve all collective bargaining agreements before they can be enforced.

Question 4

Minimum wage laws, labor unions, and efficiency wages all generate unemployment by what common mechanism?

Accepted Answer

Wages bein

Question 5

Table 28-11
2010 Labor Data for Tajnia
  
-Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Accepted Answer

A) True 
 B)False

Question 6

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)  certain unpaid workers 
B)  part-time workers 
C)  workers on vacation 
D)  All of the above are correct. 
A)  certain unpaid workers 
B)  part-time workers 
C)  workers on vacation 
D)  All of the above are correct.

Question 7

Write the formula for calculating the labor force participation rate.

Accepted Answer

The answer of Write the formula for calculating the labor...

Question 8

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually decreased.

Accepted Answer

A) True 
 B)False

Question 9

Suppose there are a large number of men who used to work or seek work who now no longer do either. Other things the same, this makes

Accepted Answer

A)  the number of people unemployed rise but does not change the labor force. 
B)  the number of people unemployed rise but makes the labor force fall. 
C)  both the number of people unemployed and the labor force fall. 
D)  the number of people unemployed fall but does not change the labor force. 
A)  the number of people unemployed rise but does not change the labor force. 
B)  the number of people unemployed rise but makes the labor force fall. 
C)  both the number of people unemployed and the labor force fall. 
D)  the number of people unemployed fall but does not change the labor force.

Question 10

It is best to view the official unemployment rate as a useful but imperfect measure of joblessness.

Accepted Answer

A) True 
 B)False

Question 11

The labor force equals the

Accepted Answer

A)  number of people employed. 
B)  number of people employed plus the number of people unemployed. 
C)  number of people employed plus the number of people unemployed plus teenagers between ages 14 and 16 who work at least 10 hours a week. 
D)  adult population. 
A)  number of people employed. 
B)  number of people employed plus the number of people unemployed. 
C)  number of people employed plus the number of people unemployed plus teenagers between ages 14 and 16 who work at least 10 hours a week. 
D)  adult population.

Question 12

The Bureau of Labor Statistics' U­3 measure of joblessness is the official unemployment rate.

Accepted Answer

A) True 
 B)False

Question 13

Noah is an unpaid stay-at-home father who is not currently searching for paid work. Pete is a full-time student who is not looking for a job. Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)  only Noah 
B)  only Pete 
C)  both Noah and Pete 
D)  neither Noah nor Pete 
A)  only Noah 
B)  only Pete 
C)  both Noah and Pete 
D)  neither Noah nor Pete

Question 14

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

Accepted Answer

A)  0 
B)  2,000 
C)  4,000 
D)  6,000 
A)  0 
B)  2,000 
C)  4,000 
D)  6,000

Question 15

Most spells of unemployment are short, and most unemployment observed at any given time is long-term.

Accepted Answer

A) True 
 B)False

Question 16

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

Accepted Answer

A) True 
 B)False

Question 17

A firm might offer efficiency wages in order to attract a better pool of applicants.

Accepted Answer

A) True 
 B)False

Question 18

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Accepted Answer

A)  Black males had higher labor-force participation rates and lower unemployment rates compared to white males. 
B)  Black males had both higher labor-force participation rates and higher unemployment rates compared to white males. 
C)  Black males had both lower labor-force participation rates and lower unemployment rates compared to white males. 
D)  Black males had lower labor-force participation rates and higher unemployment rates compared to white males. 
A)  Black males had higher labor-force participation rates and lower unemployment rates compared to white males. 
B)  Black males had both higher labor-force participation rates and higher unemployment rates compared to white males. 
C)  Black males had both lower labor-force participation rates and lower unemployment rates compared to white males. 
D)  Black males had lower labor-force participation rates and higher unemployment rates compared to white males.

Question 19

Which of the following is an example of an efficiency wage?

Accepted Answer

A)  a high wage paid to compensate for dangerous work such as coal mining 
B)  an above-equilibrium wage offered by a firm to attract a more talented pool of job applicants 
C)  a wage below the minimum wage but supplemented by customer tips 
D)  a high wage paid to a college graduate for a high-skill job such as electrical engineering 
A)  a high wage paid to compensate for dangerous work such as coal mining 
B)  an above-equilibrium wage offered by a firm to attract a more talented pool of job applicants 
C)  a wage below the minimum wage but supplemented by customer tips 
D)  a high wage paid to a college graduate for a high-skill job such as electrical engineering

Question 20

Frictional unemployment is inevitable because the economy is always changing.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $2, how many workers will be unemployed?

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

The National Labor Relations Board

Minimum wage laws, labor unions, and efficiency wages all generate unemployment by what common mechanism?

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Write the formula for calculating the labor force participation rate.

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually decreased.

Suppose there are a large number of men who used to work or seek work who now no longer do either. Other things the same, this makes

It is best to view the official unemployment rate as a useful but imperfect measure of joblessness.

The labor force equals the

The Bureau of Labor Statistics' U­3 measure of joblessness is the official unemployment rate.

Noah is an unpaid stay-at-home father who is not currently searching for paid work. Pete is a full-time student who is not looking for a job. Who is included in the labor force by the Bureau of Labor Statistics?

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

Most spells of unemployment are short, and most unemployment observed at any given time is long-term.

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

A firm might offer efficiency wages in order to attract a better pool of applicants.

According to 2012 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

Which of the following is an example of an efficiency wage?

Frictional unemployment is inevitable because the economy is always changing.

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

The Bureau of Labor Statistics' U3 measure of joblessness is the official unemployment rate.