Exam 15: Unemployment

The adult population in the town of Bedrock is 75 thousand. Within Bedrock, 5 thousand are unemployed, and 40 thousand are employed. Calculate the number of people not in the labor force.

In 2012, the U.S. natural rate of unemployment was estimated to be about 5.5 percent, which at the time was below the actual rate of unemployment of about 8.1 percent.

Right-to-work laws allow striking union members to be permanently replaced.

Which of the following is not correct?

The BLS reports the U-6 measure of labor underutilization. Which of the following is how it computes U-6?

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 decreased.

The natural rate of unemployment is any type of unemployment that does not go away on its own even in the long run.

Unemployment insurance causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.

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

Figure 28-6 -Refer to Figure 28-6. What type of unemployment is measured by the differences between lines A and B?

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

Within the U.S. population, blacks of prime working age ages 25-54) have higher rates of unemployment than whites of prime working age ages 25-54), regardless of gender.

The Bureau of Labor Statistics reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalent, 36.40 million of whom were employed and 1.93 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

The designation "natural" implies that the natural rate of unemployment

In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is lower and the quantity of labor demand is higher than at the equilibrium wage.

The Bureau of Labor Statistics' U­1 measure of joblessness is smaller than its U­6 measure of joblessness.

An important determinant of a country's standard of living is the amount of it typically experiences.

Unemployment generated by the existence of labor unions is structural unemployment and so contributes to the natural rate of unemployment.

Why might a favorable change in the economy, such as technological improvement or a decrease in the price of imported oil, be associated with an increase in frictional unemployment?