Question 1

The unemployment rate and the level of aggregate output are negatively related.

Accepted Answer

A) True 
 B)False

Question 2

A decrease in worker productivity

Accepted Answer

A)  reduces the demand for labor. 
B)  increases the demand for labor. 
C)  reduces the supply of labor. 
D)  increases the supply of labor. 
A)  reduces the demand for labor. 
B)  increases the demand for labor. 
C)  reduces the supply of labor. 
D)  increases the supply of labor.

Question 3

Related to the Economics in Practice on p. 251: According to the study cited in the Economics in Practice, the ________ someone is unemployed, the ________ it is for that person to get a job.

Accepted Answer

A)  longer; easier 
B)  longer; harder 
C)  less time; harder 
D)  The duration of unemployment does not seem to affect the ability of getting a job. 
A)  longer; easier 
B)  longer; harder 
C)  less time; harder 
D)  The duration of unemployment does not seem to affect the ability of getting a job.

Question 4

Refer to the information provided in Figure 13.3 below to answer the questions that follow.   Figure 13.3
-Refer to Figure 13.3. In an attempt to increase worker productivity, this firm would pay wages ________ per hour.

Accepted Answer

A) of $10 B) > $10 C) of $8 D) < $8 A) of $10 B) > $10 C) of $8 D) < $8

Question 5

According to the relative-wage explanation of unemployment, workers will be willing to accept wage cuts only if

Accepted Answer

A)  they know that unemployment is increasing in other industries. 
B)  they can be convinced that they are overpaid relative to workers doing similar jobs at other firms. 
C)  they know that workers in other firms and industries are receiving similar cuts. 
D)  the economy is in a prolonged recession. 
A)  they know that unemployment is increasing in other industries. 
B)  they can be convinced that they are overpaid relative to workers doing similar jobs at other firms. 
C)  they know that workers in other firms and industries are receiving similar cuts. 
D)  the economy is in a prolonged recession.

Question 6

Which of the following would be likely to lead to a decrease in the natural rate of unemployment?

Accepted Answer

A)  an increase in the number of teenage workers in the workforce 
B)  a decrease in the length of time during which people can receive unemployment benefits 
C)  a prolonged recession 
D)  all of the above 
A)  an increase in the number of teenage workers in the workforce 
B)  a decrease in the length of time during which people can receive unemployment benefits 
C)  a prolonged recession 
D)  all of the above

Question 7

To improve workers' morale, a firm pays higher wages for its workers. This firm is paying

Accepted Answer

A)  flexible wages. 
B)  minimum wages. 
C)  sticky wages. 
D)  efficiency wages. 
A)  flexible wages. 
B)  minimum wages. 
C)  sticky wages. 
D)  efficiency wages.

The unemployment rate and the level of aggregate output are negatively related.

A decrease in worker productivity

Related to the Economics in Practice on p. 251: According to the study cited in the Economics in Practice, the someone is unemployed, the it is for that person to get a job.

Refer to the information provided in Figure 13.3 below to answer the questions that follow. Figure 13.3 -Refer to Figure 13.3. In an attempt to increase worker productivity, this firm would pay wages ________ per hour.

According to the relative-wage explanation of unemployment, workers will be willing to accept wage cuts only if

Which of the following would be likely to lead to a decrease in the natural rate of unemployment?

To improve workers' morale, a firm pays higher wages for its workers. This firm is paying

The Scope and Method of Economics

The Economic Problem: Scarcity and Choice

Demand, Supply, and Market Equilibrium

Demand and Supply Applications

Introduction to Macroeconomics

Measuring National Output and National Income

Unemployment, Inflation, and Long-Run Growth

Aggregate Expenditure and Equilibrium Output

The Government and Fiscal Policy

Money, the Federal Reserve, and the Interest Rate

The Determination of Aggregate Output, the Price Level, and the Interest Rate

Policy Effects and Cost Shocks in the Asad Model

Financial Crises, Stabilization, and Deficits

Household and Firm Behavior in the Macroeconomy: a Further Look

Long-Run Growth

Alternative Views in Macroeconomics

International Trade, Comparative Advantage, and Protectionism

Open-Economy Macroeconomics: the Balance of Payments and Exchange Rates

Economic Growth in Developing Economies

Critical Thinking About Research

Filters

Exam 13: The Labor Market in the Macroeconomy

The unemployment rate and the level of aggregate output are negatively related.

A decrease in worker productivity

Related to the Economics in Practice on p. 251: According to the study cited in the Economics in Practice, the ________ someone is unemployed, the ________ it is for that person to get a job.

Refer to the information provided in Figure 13.3 below to answer the questions that follow. Figure 13.3 -Refer to Figure 13.3. In an attempt to increase worker productivity, this firm would pay wages ________ per hour.

According to the relative-wage explanation of unemployment, workers will be willing to accept wage cuts only if

Which of the following would be likely to lead to a decrease in the natural rate of unemployment?

To improve workers' morale, a firm pays higher wages for its workers. This firm is paying

The Scope and Method of Economics

The Economic Problem: Scarcity and Choice

Demand, Supply, and Market Equilibrium

Demand and Supply Applications

Introduction to Macroeconomics

Measuring National Output and National Income

Unemployment, Inflation, and Long-Run Growth

Aggregate Expenditure and Equilibrium Output

The Government and Fiscal Policy

Money, the Federal Reserve, and the Interest Rate

The Determination of Aggregate Output, the Price Level, and the Interest Rate

Policy Effects and Cost Shocks in the Asad Model

Financial Crises, Stabilization, and Deficits

Household and Firm Behavior in the Macroeconomy: a Further Look

Long-Run Growth

Alternative Views in Macroeconomics

International Trade, Comparative Advantage, and Protectionism

Open-Economy Macroeconomics: the Balance of Payments and Exchange Rates

Economic Growth in Developing Economies

Critical Thinking About Research

Filters

Related to the Economics in Practice on p. 251: According to the study cited in the Economics in Practice, the someone is unemployed, the it is for that person to get a job.