Question 1

Suppose that medical technicians and nurses' aides are not unionized. If the nurses' aides unionize, then the wages of

Accepted Answer

A)  both medical technicians and nurses' aides will rise. 
B)  both medical technicians and nurses' aides will fall. 
C)  medical technicians will rise, and the wages of nurses' aides will fall. 
D)  nurses' aides will rise, and the wages of medical technicians will fall. 
A)  both medical technicians and nurses' aides will rise. 
B)  both medical technicians and nurses' aides will fall. 
C)  medical technicians will rise, and the wages of nurses' aides will fall. 
D)  nurses' aides will rise, and the wages of medical technicians will fall.

Question 2

Right-to-work laws

Accepted Answer

A)  guarantee workers the right to form unions. 
B)  give workers in a unionized firm the right to choose whether to join the union. 
C)  prevent employers from hiring permanent replacements for workers who are on strike. 
D)  prevent workers from being fired because of increases in wages brought about by collective bargaining. 
A)  guarantee workers the right to form unions. 
B)  give workers in a unionized firm the right to choose whether to join the union. 
C)  prevent employers from hiring permanent replacements for workers who are on strike. 
D)  prevent workers from being fired because of increases in wages brought about by collective bargaining.

Question 3

A century ago, the four industries with the largest employment in the United States were cotton goods, woolen goods, men's clothing, and lumber.

Accepted Answer

A) True 
 B)False

Question 4

Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)  Tina, who worked most of the week in a steel factory 
B)  Kelly, who is temporarily laid off but expects to be recalled 
C)  DJ, who does not have a job but is looking for work 
D)  All of the above are correct. 
A)  Tina, who worked most of the week in a steel factory 
B)  Kelly, who is temporarily laid off but expects to be recalled 
C)  DJ, who does not have a job but is looking for work 
D)  All of the above are correct.

Question 5

Full­time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 6

Unemployment insurance is designed to offer workers full protection against job loss.

Accepted Answer

A) True 
 B)False

Question 7

About what percentage of jobs are destroyed every year, and about what percentage of workers leave their jobs in a typical month?

Accepted Answer

A)  1% and 5% 
B)  5% and 1% 
C)  3% and 10% 
D)  10% and 3% 
A)  1% and 5% 
B)  5% and 1% 
C)  3% and 10% 
D)  10% and 3%

Question 8

A labor union is similar to a .

Accepted Answer

The answer of A labor union is similar to a...

Question 9

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

Accepted Answer

A)  frictional unemployment created by efficiency wages. 
B)  structural unemployment created by efficiency wages. 
C)  frictional unemployment created by sectoral shifts. 
D)  structural unemployment created by sectoral shifts. 
A)  frictional unemployment created by efficiency wages. 
B)  structural unemployment created by efficiency wages. 
C)  frictional unemployment created by sectoral shifts. 
D)  structural unemployment created by sectoral shifts.

Question 10

When a union raises the wage above the equilibrium level, it

Accepted Answer

A)  reduces both the quantity of labor supplied and the quantity of labor demanded. 
B)  reduces the quantity of labor supplied and raises the quantity of labor demanded. 
C)  raises the quantity of labor supplied and reduces the quantity of labor demanded. 
D)  raises both the quantity of labor supplied and the quantity of labor demanded. 
A)  reduces both the quantity of labor supplied and the quantity of labor demanded. 
B)  reduces the quantity of labor supplied and raises the quantity of labor demanded. 
C)  raises the quantity of labor supplied and reduces the quantity of labor demanded. 
D)  raises both the quantity of labor supplied and the quantity of labor demanded.

Question 11

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 12

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

Accepted Answer

A)  are without a job, but are available for work and have tried to find a job during the previous four weeks. 
B)  work without pay in a family member's business. 
C)  are waiting to be recalled to a job from which they had been laid off. 
D)  All of the above are correct. 
A)  are without a job, but are available for work and have tried to find a job during the previous four weeks. 
B)  work without pay in a family member's business. 
C)  are waiting to be recalled to a job from which they had been laid off. 
D)  All of the above are correct.

Question 13

Within the U.S. population, teenagers ages 16-19) have similar rates of labor-force participation than adults of prime working age ages 25-54), regardless of race or gender.

Accepted Answer

A) True 
 B)False

Question 14

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, there are more workers willing to work than there are jobs, so some workers are unemployed.

Accepted Answer

A) True 
 B)False

Question 15

Christopher is an unpaid, stay-at-home father who works as a volunteer at the local Habitat for Humanity chapter. Currently, Christopher is not looking for a paid job. The Bureau of Labor Statistics counts Christopher as

Accepted Answer

A)  unemployed and in the labor force. 
B)  unemployed but not in the labor force. 
C)  in the labor force but not unemployed. 
D)  neither in the labor force nor unemployed. 
A)  unemployed and in the labor force. 
B)  unemployed but not in the labor force. 
C)  in the labor force but not unemployed. 
D)  neither in the labor force nor unemployed.

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Briefly explain the four rationales for efficiency wages.

Accepted Answer

1. Better paid workers are healthier and

Question 18

Which of the following is not a contention of advocates of unions?

Accepted Answer

A)  Unions are a necessary antidote to the market power of the firms that hire workers. 
B)  In the case of a "company town," a union may balance the firm's market power and protect the workers from being at the mercy of the firm's owners. 
C)  The introduction of a union benefits all workers in a firm. 
D)  Unions are important for helping firms respond efficiently to workers' concerns. 
A)  Unions are a necessary antidote to the market power of the firms that hire workers. 
B)  In the case of a "company town," a union may balance the firm's market power and protect the workers from being at the mercy of the firm's owners. 
C)  The introduction of a union benefits all workers in a firm. 
D)  Unions are important for helping firms respond efficiently to workers' concerns.

Question 19

Which of the following is not a reason economies experience structural unemployment?

Accepted Answer

A)  job search 
B)  unions 
C)  minimum-wage laws 
D)  efficiency wages 
A)  job search 
B)  unions 
C)  minimum-wage laws 
D)  efficiency wages

Question 20

Suppose that the Bureau of Labor Statistics predicts that the number of jobs for dental hygienists will grow faster than most occupations while the number of jobs for bookbinders will decline. This change in the labor market could lead to

Accepted Answer

A)  frictional unemployment created by efficiency wages. 
B)  structural unemployment created by efficiency wages. 
C)  frictional unemployment created by sectoral shifts. 
D)  structural unemployment created by sectoral shifts. 
A)  frictional unemployment created by efficiency wages. 
B)  structural unemployment created by efficiency wages. 
C)  frictional unemployment created by sectoral shifts. 
D)  structural unemployment created by sectoral shifts.

Exam 15: Unemployment

Suppose that medical technicians and nurses' aides are not unionized. If the nurses' aides unionize, then the wages of

Right-to-work laws

A century ago, the four industries with the largest employment in the United States were cotton goods, woolen goods, men's clothing, and lumber.

Who is included in the labor force by the Bureau of Labor Statistics?

Full­time students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.

Unemployment insurance is designed to offer workers full protection against job loss.

About what percentage of jobs are destroyed every year, and about what percentage of workers leave their jobs in a typical month?

A labor union is similar to a .

When a union raises the wage above the equilibrium level, it

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

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

Within the U.S. population, teenagers ages 16-19) have similar rates of labor-force participation than adults of prime working age ages 25-54), regardless of race or gender.

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, there are more workers willing to work than there are jobs, so some workers are unemployed.

Christopher is an unpaid, stay-at-home father who works as a volunteer at the local Habitat for Humanity chapter. Currently, Christopher is not looking for a paid job. The Bureau of Labor Statistics counts Christopher as

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

Briefly explain the four rationales for efficiency wages.

Which of the following is not a contention of advocates of unions?

Which of the following is not a reason economies experience structural unemployment?

Suppose that the Bureau of Labor Statistics predicts that the number of jobs for dental hygienists will grow faster than most occupations while the number of jobs for bookbinders will decline. This change in the labor market could lead to

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

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

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Trade-Off Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

Filters

Fulltime students and homemakers are included in the Bureau of Labor Statistics' "unemployed" category.