Question 1

Public policy, without intending to do so, can increase frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 2

Table 28-10
The table below lists the number of people by labor force classification for the country of Springfield.
  
-Refer to Table 28-10. Calculate the U-5 unemployment rate.

Accepted Answer

The answer of Table 28-10
The table below lists the number...

Question 3

The table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table.

Accepted Answer

The answer of The table below uses data for the...

Question 4

More than three-fourths of the unemployed are recent entrants into the labor force.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is correct?

Accepted Answer

A)  In unionized industries, wages are below the level that would prevail in competitive markets. 
B)  The introduction of a union in an industry reduces the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and reduces wages in the rest of the economy. 
C)  There is a strong consensus among economists that unions are bad for the U.S. economy. 
D)  All of the above are correct. 
A)  In unionized industries, wages are below the level that would prevail in competitive markets. 
B)  The introduction of a union in an industry reduces the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and reduces wages in the rest of the economy. 
C)  There is a strong consensus among economists that unions are bad for the U.S. economy. 
D)  All of the above are correct.

Question 6

Unions are often thought to cause conflict between different groups of workers -- between the insiders who benefit from high union wages and the outsiders who do not get the union jobs.

Accepted Answer

A) True 
 B)False

Question 7

Table 28-3
2009 Labor Data for Baltivia
  
-Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

Accepted Answer

A)  11,000 
B)  12,600 
C)  13,380 
D)  20,000 
A)  11,000 
B)  12,600 
C)  13,380 
D)  20,000

Question 8

Within the U.S. population, teenagers ages 16-19) have lower 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 9

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54) had the highest unemployment rate?

Accepted Answer

A)  white males 
B)  white females 
C)  black males 
D)  black females 
A)  white males 
B)  white females 
C)  black males 
D)  black females

Question 10

If the wage is kept above the equilibrium level for any reason, the result is unemployment.

Accepted Answer

A) True 
 B)False

Question 11

When the wage is above the equilibrium level,

Accepted Answer

A)  the labor market is functioning more efficiently than it otherwise would function. 
B)  there is a shortage of labor. 
C)  the quantity of labor supplied exceeds the quantity of labor demanded. 
D)  job search is the primary explanation for the unemployment that is observed. 
A)  the labor market is functioning more efficiently than it otherwise would function. 
B)  there is a shortage of labor. 
C)  the quantity of labor supplied exceeds the quantity of labor demanded. 
D)  job search is the primary explanation for the unemployment that is observed.

Question 12

Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

Accepted Answer

A) True 
 B)False

Question 13

Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment.

Accepted Answer

A)  Almost all economists agree that such programs are of no use. 
B)  Almost all economists agree that such programs work very well. 
C)  Some economists claim that the government can do these things no better than firms and individuals could do them for themselves. 
D)  Some economists claim that these programs increase frictional unemployment. 
A)  Almost all economists agree that such programs are of no use. 
B)  Almost all economists agree that such programs work very well. 
C)  Some economists claim that the government can do these things no better than firms and individuals could do them for themselves. 
D)  Some economists claim that these programs increase frictional unemployment.

Question 14

If a union and a firm cannot reach an agreement on the terms of employment, then the union can organize a withdrawal of labor from the firm, called a strike.

Accepted Answer

A) True 
 B)False

Question 15

Table 28-3
2009 Labor Data for Baltivia
  
-Refer to Table 28-3. How many people were employed in Baltivia in 2009?

Accepted Answer

A)  9,600 
B)  10,600 
C)  11,000 
D)  11,200 
A)  9,600 
B)  10,600 
C)  11,000 
D)  11,200

Question 16

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

Accepted Answer

A) True 
 B)False

Question 17

Frictional unemployment is thought to explain relatively

Accepted Answer

A)  short spells of unemployment, as is structural unemployment. 
B)  long spells of unemployment, as is structural unemployment. 
C)  short spells of unemployment, while structural unemployment is thought to explain relatively long spells of unemployment. 
D)  long spells of unemployment, while structural unemployment is thought to explain relatively short spells of unemployment. 
A)  short spells of unemployment, as is structural unemployment. 
B)  long spells of unemployment, as is structural unemployment. 
C)  short spells of unemployment, while structural unemployment is thought to explain relatively long spells of unemployment. 
D)  long spells of unemployment, while structural unemployment is thought to explain relatively short spells of unemployment.

Question 18

When a minimum-wage law forces the wage to remain above the equilibrium level, the result is

Accepted Answer

A)  both a shortage of labor and a shortage of jobs. 
B)  a shortage of labor and a surplus of jobs. 
C)  a surplus of labor and a shortage of jobs. 
D)  both surplus of labor and a surplus of jobs. 
A)  both a shortage of labor and a shortage of jobs. 
B)  a shortage of labor and a surplus of jobs. 
C)  a surplus of labor and a shortage of jobs. 
D)  both surplus of labor and a surplus of jobs.

Question 19

Suppose that efficiency wages become more common in the economy. Imposing efficiency wages

Accepted Answer

A)  Increases the quantity demanded and decreases the quantity supplied of labor 
B)  Decreases the quantity demanded and increases the quantity supplied of labor. 
C)  increases the quantity demanded and decreases the quantity supplied of labor., 
D)  decreases the quantity demanded and increases the quantity supplied of labor. 
A)  Increases the quantity demanded and decreases the quantity supplied of labor 
B)  Decreases the quantity demanded and increases the quantity supplied of labor. 
C)  increases the quantity demanded and decreases the quantity supplied of labor., 
D)  decreases the quantity demanded and increases the quantity supplied of labor.

Question 20

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

Accepted Answer

A)  Miguel, who is on temporary layoff 
B)  Reta, who worked only 15 hours last week 
C)  Marisa, who neither has a job nor is looking for one 
D)  None of the above is correct. 
A)  Miguel, who is on temporary layoff 
B)  Reta, who worked only 15 hours last week 
C)  Marisa, who neither has a job nor is looking for one 
D)  None of the above is correct.

Exam 15: Unemployment

Public policy, without intending to do so, can increase frictional unemployment.

Table 28-10 The table below lists the number of people by labor force classification for the country of Springfield. -Refer to Table 28-10. Calculate the U-5 unemployment rate.

The table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table.

More than three-fourths of the unemployed are recent entrants into the labor force.

Which of the following is correct?

Unions are often thought to cause conflict between different groups of workers -- between the insiders who benefit from high union wages and the outsiders who do not get the union jobs.

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were in Baltivia's labor force in 2009?

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

According to 2012 data on the U.S. population, which of the following groups of adults of prime working age ages 25-54) had the highest unemployment rate?

If the wage is kept above the equilibrium level for any reason, the result is unemployment.

When the wage is above the equilibrium level,

Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

Government-run employment agencies and public training programs are operated by the government to try to facilitate job search and reduce unemployment.

If a union and a firm cannot reach an agreement on the terms of employment, then the union can organize a withdrawal of labor from the firm, called a strike.

Table 28-3 2009 Labor Data for Baltivia -Refer to Table 28-3. How many people were employed in Baltivia in 2009?

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

Frictional unemployment is thought to explain relatively

When a minimum-wage law forces the wage to remain above the equilibrium level, the result is

Suppose that efficiency wages become more common in the economy. Imposing efficiency wages

Who of the following would be included in the Bureau of Labor Statistics' "unemployed" category?

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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