Exam 20: Unemployment

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Italian adult non- institutionalized population was 51.070 million, the labor force was 24.710 million, and the number of people employed was 22.765 million. According to these numbers, the Italian labor-force participation rate and unemployment rate were about

Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable.

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2012 was

Which of the following is among the four industries with the largest employment in the United States today?

The unemployment rate never falls to zero.

What problems arise in interpreting unemployment data?

Michael decides to hire some additional workers for his roofing company. The equilibrium wage is $17 per hour. Efficiency wage theory suggests that it is reasonable for Michael to offer

Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?

Cyclical unemployment is closely associated with

Employment can rise in one region of the country while it falls in another.

In which of the following situations should a firm pay efficiency wages?

The Bureau of Labor Statistics produces data on

When a union is present in a labor market, wages are not determined by the equilibrium of supply and demand.

Suppose the demand for hard-wood flooring increases, while the demand for wall-to-wall carpeting decreases. Based on this change in consumer tastes, the demand for hard-wood-flooring factory workers in North Carolina increases, while the demand for carpet factory workers in Georgia decreases. This is an example of

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

Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

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

Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.

Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia in 2010 was

Causes of the decline in the U.S. men's labor­force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did, older men now retiring earlier and living longer, and more fathers now staying at home to raise their children.