Question 1

Figure 28-7  
-Refer to Figure 28-7. If the minimum wage increases from $100 to $125, how many additional workers will be unemployed?

Accepted Answer

The answer of Figure 28-7  
-Refer to Figure 28-7....

Question 2

More than one-third of the unemployed are recent entrants into the labor force.

Accepted Answer

A) True 
 B)False

Question 3

The production of which of the following goods was among the four industries with the largest employment in the United States a century ago?

Accepted Answer

A)  horse shoes 
B)  woolen goods 
C)  candles 
D)  minerals from mining 
A)  horse shoes 
B)  woolen goods 
C)  candles 
D)  minerals from mining

Question 4

Labor unions

Accepted Answer

A)  raise wages in unionized industries. 
B)  create labor shortages in non-unionized industries. 
C)  play a larger role in the current U.S. economy than in European countries such as Norway and Sweden. 
D)  prefer to operate in states with right-to-work laws. 
A)  raise wages in unionized industries. 
B)  create labor shortages in non-unionized industries. 
C)  play a larger role in the current U.S. economy than in European countries such as Norway and Sweden. 
D)  prefer to operate in states with right-to-work laws.

Question 5

If outsiders had more say in union contracts then it is likely that union wages would be

Accepted Answer

A)  higher so unemployment would be higher. 
B)  higher so unemployment would be lower. 
C)  lower so unemployment would be higher. 
D)  lower so unemployment would be lower. 
A)  higher so unemployment would be higher. 
B)  higher so unemployment would be lower. 
C)  lower so unemployment would be higher. 
D)  lower so unemployment would be lower.

Question 6

Almost half of all spells of unemployment end when the unemployed person .

Accepted Answer

leaves the

Question 7

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 8

Minimum-wage laws are most likely to affect the wages paid to

Accepted Answer

A)  teenagers. 
B)  people with advanced technical training. 
C)  people who are self-employed. 
D)  union members. 
A)  teenagers. 
B)  people with advanced technical training. 
C)  people who are self-employed. 
D)  union members.

Question 9

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Accepted Answer

A) True 
 B)False

Question 10

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.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  are temporarily absent from their jobs. 
B)  are self-employed. 
C)  work without pay in a family member's business. 
D)  All of the above are correct. 
A)  are temporarily absent from their jobs. 
B)  are self-employed. 
C)  work without pay in a family member's business. 
D)  All of the above are correct.

Question 12

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a shortage of labor.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A)  A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs. 
B)  A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs. 
C)  A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs. 
D)  A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs. 
A)  A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs. 
B)  A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs. 
C)  A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs. 
D)  A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs.

Question 14

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Accepted Answer

A) True 
 B)False

Question 15

Wages in excess of their equilibrium level help explain

Accepted Answer

A)  structural unemployment but not the natural rate of unemployment. 
B)  the natural rate of unemployment but not structural unemployment. 
C)  both structural unemployment and the natural rate of unemployment. 
D)  neither structural unemployment nor the natural rate of unemployment. 
A)  structural unemployment but not the natural rate of unemployment. 
B)  the natural rate of unemployment but not structural unemployment. 
C)  both structural unemployment and the natural rate of unemployment. 
D)  neither structural unemployment nor the natural rate of unemployment.

Question 16

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

Accepted Answer

A)  an increase in the natural rate of unemployment. 
B)  a decrease in the natural rate of unemployment. 
C)  frictional unemployment. 
D)  efficiency wages. 
A)  an increase in the natural rate of unemployment. 
B)  a decrease in the natural rate of unemployment. 
C)  frictional unemployment. 
D)  efficiency wages.

Question 17

If the number of people unemployed rose but the number of people employed and the adult population stayed the same, then the labor force participation rate would rise.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following helps to reduce frictional unemployment?

Accepted Answer

A)  government-run employment agencies 
B)  public training programs 
C)  the Internet 
D)  All of the above are correct. 
A)  government-run employment agencies 
B)  public training programs 
C)  the Internet 
D)  All of the above are correct.

Question 19

Explain how the actions of labor unions generate greater unemployment.

Accepted Answer

Labor unions push wa

Question 20

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

Accepted Answer

A)  50 million 
B)  85 million 
C)  90 million 
D)  130 million 
A)  50 million 
B)  85 million 
C)  90 million 
D)  130 million

Exam 15: Unemployment

Figure 28-7 -Refer to Figure 28-7. If the minimum wage increases from $100 to $125, how many additional workers will be unemployed?

More than one-third of the unemployed are recent entrants into the labor force.

The production of which of the following goods was among the four industries with the largest employment in the United States a century ago?

Labor unions

If outsiders had more say in union contracts then it is likely that union wages would be

Almost half of all spells of unemployment end when the unemployed person .

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

Minimum-wage laws are most likely to affect the wages paid to

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

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

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a shortage of labor.

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

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Wages in excess of their equilibrium level help explain

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

If the number of people unemployed rose but the number of people employed and the adult population stayed the same, then the labor force participation rate would rise.

Which of the following helps to reduce frictional unemployment?

Explain how the actions of labor unions generate greater unemployment.

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

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

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