Question 1

Workers waiting for jobs to open up is most closely associated with

Accepted Answer

A)  cyclical unemployment. 
B)  frictional unemployment. 
C)  seasonal unemployment. 
D)  structural unemployment. 
A)  cyclical unemployment. 
B)  frictional unemployment. 
C)  seasonal unemployment. 
D)  structural unemployment.

Question 2

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Accepted Answer

A) True 
 B)False

Question 3

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 number in the adult population, and the labor force participation rate.

Accepted Answer

The adult population

Question 4

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

Accepted Answer

A)  3.7% 
B)  5.0% 
C)  5.6% 
D)  5.9% 
A)  3.7% 
B)  5.0% 
C)  5.6% 
D)  5.9%

Question 5

Minimum wages create unemployment in markets where they create a

Accepted Answer

A)  shortage of labor. Unemployment of this type is called frictional. 
B)  shortage of labor. Unemployment of this type is called structural. 
C)  surplus of labor. Unemployment of this type is called frictional. 
D)  surplus of labor. Unemployment of this type is called structural. 
A)  shortage of labor. Unemployment of this type is called frictional. 
B)  shortage of labor. Unemployment of this type is called structural. 
C)  surplus of labor. Unemployment of this type is called frictional. 
D)  surplus of labor. Unemployment of this type is called structural.

Question 6

The theory of efficiency wages explains why

Accepted Answer

A)  setting wages at the equilibrium level may increase unemployment. 
B)  it may be in the best interest of firms to offer wages that are above the equilibrium level. 
C)  the most efficient way to pay workers is to pay them according to their skills. 
D)  it is efficient for firms to set wages at the equilibrium level. 
A)  setting wages at the equilibrium level may increase unemployment. 
B)  it may be in the best interest of firms to offer wages that are above the equilibrium level. 
C)  the most efficient way to pay workers is to pay them according to their skills. 
D)  it is efficient for firms to set wages at the equilibrium level.

Question 7

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 lowest labor-force participation 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 8

According to 2012 data on the U.S. population, which of the following was correct?

Accepted Answer

A)  Adults of prime working age (ages 25-54) had both higher labor-force participation rates and higher rates of unemployment compared to teenagers. 
B)  Adults of prime working age (ages 25-54) had higher labor-force participation rates and lower rates of unemployment compared to teenagers. 
C)  Adults of prime working age (ages 25-54) had both lower labor-force participation rates and lower rates of unemployment compared to teenagers. 
D)  Adults of prime working age (ages 25-54) had lower labor-force participation rates and higher rates of unemployment compared to teenagers. 
A)  Adults of prime working age (ages 25-54) had both higher labor-force participation rates and higher rates of unemployment compared to teenagers. 
B)  Adults of prime working age (ages 25-54) had higher labor-force participation rates and lower rates of unemployment compared to teenagers. 
C)  Adults of prime working age (ages 25-54) had both lower labor-force participation rates and lower rates of unemployment compared to teenagers. 
D)  Adults of prime working age (ages 25-54) had lower labor-force participation rates and higher rates of unemployment compared to teenagers.

Question 9

Every week, the Bureau of Labor Statistics produces data on unemployment.

Accepted Answer

A) True 
 B)False

Question 10

Just after World War II, the labor-force participation rate of women was

Accepted Answer

A)  about 25 percent, and in 2012, it was about 50 percent. 
B)  about 33 percent, and in 2012, it was about 60 percent. 
C)  about 50 percent, and in 2012, it was about 70 percent. 
D)  about 60 percent, and in 2012, it was about 80 percent. 
A)  about 25 percent, and in 2012, it was about 50 percent. 
B)  about 33 percent, and in 2012, it was about 60 percent. 
C)  about 50 percent, and in 2012, it was about 70 percent. 
D)  about 60 percent, and in 2012, it was about 80 percent.

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Table 28-11
2010 Labor Data for Tajnia  
-Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A)  Juan Carlos, a full-time student who is not looking for work 
B)  Kevin, who is on temporary layoff 
C)  Andrea, who has retired and is not looking for work 
D)  All of the above are correct. 
A)  Juan Carlos, a full-time student who is not looking for work 
B)  Kevin, who is on temporary layoff 
C)  Andrea, who has retired and is not looking for work 
D)  All of the above are correct.

Question 14

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Japanese adult non- institutionalized population was 110.272 million, the labor force was 65.362 million, and the number of people employed was 62.242 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about

Accepted Answer

A)  56.4% and 2.8%. 
B)  56.4% and 4.8%. 
C)  59.3% and 2.8%. 
D)  59.3% and 4.8%. 
A)  56.4% and 2.8%. 
B)  56.4% and 4.8%. 
C)  59.3% and 2.8%. 
D)  59.3% and 4.8%.

Question 15

Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret.

Accepted Answer

A) True 
 B)False

Question 16

Paying efficiency wages means that wages are

Accepted Answer

A)  above equilibrium, and profits are higher than otherwise. 
B)  above equilibrium, and profits are lower than otherwise. 
C)  below equilibrium, and profits are higher than otherwise. 
D)  below equilibrium, and profits are lower than otherwise. 
A)  above equilibrium, and profits are higher than otherwise. 
B)  above equilibrium, and profits are lower than otherwise. 
C)  below equilibrium, and profits are higher than otherwise. 
D)  below equilibrium, and profits are lower than otherwise.

Question 17

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 18

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Accepted Answer

A) True 
 B)False

Question 19

Some adults who were not working are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

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 labor-force participation rate in Meditor?

Accepted Answer

A)  37.5% 
B)  62.5% 
C)  66.7% 
D)  95.8% 
A)  37.5% 
B)  62.5% 
C)  66.7% 
D)  95.8%

Exam 28: Unemployment

Workers waiting for jobs to open up is most closely associated with

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

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 number in the adult population, and the labor force participation rate.

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

Minimum wages create unemployment in markets where they create a

The theory of efficiency wages explains why

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 lowest labor-force participation rate?

According to 2012 data on the U.S. population, which of the following was correct?

Every week, the Bureau of Labor Statistics produces data on unemployment.

Just after World War II, the labor-force participation rate of women was

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

Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The unemployment rate of Tajnia in 2010 is about 7.5 percent.

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

Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret.

Paying efficiency wages means that wages are

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Some adults who were not working are included in the Bureau of Labor Statistics' "employed" category.

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

Externalities

Public Goods and Common Resources

The Design of the Tax System

The Costs of Production

Firms in Competitive Markets

Monopoly

Monopolistic Competition

Oligopoly

The Markets for the Factors of Production

Earnings and Discrimination

Income Inequality and Poverty

The Theory of Consumer Choice

Frontiers of Microeconomics

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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