Question 1

What is the worker's real wage in 2002?

Accepted Answer

A)  $20,488 
B)  $23,590 
C)  $35,000 
D)  $42,000 
E)  $70,000 
A)  $20,488 
B)  $23,590 
C)  $35,000 
D)  $42,000 
E)  $70,000 B

Question 2

The National Compensation Survey (NCS),published by the Bureau of Labor Statistics,is problematic.Which of the following is not one of the reasons it is problematic?

Accepted Answer

A)  Rankings vary based on whether the hourly wage is used or the annual earnings. 
B)  The NCS is based on a sample,thus exposing it to sampling error. 
C)  The rankings are based on the median response,making it biased toward outliers. 
D)  Rankings are calculated using the mean wage,which biases the estimates. 
E)  The rankings vary because different occupations work a different number of hours. 
A)  Rankings vary based on whether the hourly wage is used or the annual earnings. 
B)  The NCS is based on a sample,thus exposing it to sampling error. 
C)  The rankings are based on the median response,making it biased toward outliers. 
D)  Rankings are calculated using the mean wage,which biases the estimates. 
E)  The rankings vary because different occupations work a different number of hours. C

Question 3

What is the most commonly used normative criterion?

Accepted Answer

A)  Pareto efficiency 
B)  fairness 
C)  equality 
D)  marginal productivity 
E)  rational choice 
A)  Pareto efficiency 
B)  fairness 
C)  equality 
D)  marginal productivity 
E)  rational choice A

Question 4

What is the employment-to-population rate?

Accepted Answer

A)  2.4% 
B)  72.7% 
C)  74.5% 
D)  78.4% 
E)  88.9% 
A)  2.4% 
B)  72.7% 
C)  74.5% 
D)  78.4% 
E)  88.9%

Question 5

What is the unemployment rate?

Accepted Answer

A)  1.8% 
B)  2.0% 
C)  2.2% 
D)  2.4% 
E)  97.6% 
A)  1.8% 
B)  2.0% 
C)  2.2% 
D)  2.4% 
E)  97.6%

Question 6

Which of the following is not a true statement about the Consumer Price Index (CPI)?

Accepted Answer

A)  The CPI is based on a fixed bundle of goods. 
B)  The CPI is not adjusted spatially and has the same value for all urban areas. 
C)  The CPI is used to calculate cost of living adjustments. 
D)  The CPI overstates true changes in the cost of living,because it does not allow for substitution among goods. 
E)  The CPI does not allow for the inclusion of new goods. 
A)  The CPI is based on a fixed bundle of goods. 
B)  The CPI is not adjusted spatially and has the same value for all urban areas. 
C)  The CPI is used to calculate cost of living adjustments. 
D)  The CPI overstates true changes in the cost of living,because it does not allow for substitution among goods. 
E)  The CPI does not allow for the inclusion of new goods.

Question 7

The straight time hourly wage equals

Accepted Answer

A)  wages plus overtime plus holiday payments. 
B)  the hourly wage times hours worked. 
C)  the hourly wage times hours worked plus fringe benefits. 
D)  the hourly wage. 
E)  the hourly wage plus the hourly value of benefits for the worker. 
A)  wages plus overtime plus holiday payments. 
B)  the hourly wage times hours worked. 
C)  the hourly wage times hours worked plus fringe benefits. 
D)  the hourly wage. 
E)  the hourly wage plus the hourly value of benefits for the worker.

Question 8

Which year did the worker have the highest real wages?

Accepted Answer

A)  1996 
B)  1999 
C)  2002 
D)  2006 
E)  none of the above 
A)  1996 
B)  1999 
C)  2002 
D)  2006 
E)  none of the above

Question 9

Which of the following individuals would be considered employed,according to the Bureau of Labor Statistics glossary?

Accepted Answer

A)  a stay-at-home dad who works 40 hours a week taking care of his family 
B)  a mother who works 20 hours a week for her husband's business,but is never paid 
C)  an individual who was recently laid off and has not found another job yet 
D)  an elderly woman who retires from her job but still volunteers 
E)  a girl who is 15 working part time at a local grocery store 
A)  a stay-at-home dad who works 40 hours a week taking care of his family 
B)  a mother who works 20 hours a week for her husband's business,but is never paid 
C)  an individual who was recently laid off and has not found another job yet 
D)  an elderly woman who retires from her job but still volunteers 
E)  a girl who is 15 working part time at a local grocery store

Question 10

What is the employment rate?

Accepted Answer

A)  1.8% 
B)  2.0% 
C)  2.2% 
D)  2.4% 
E)  97.6% 
A)  1.8% 
B)  2.0% 
C)  2.2% 
D)  2.4% 
E)  97.6%

Question 11

The labor force is made up of

Accepted Answer

A)  the entire working population. 
B)  the entire working population over the age of 16. 
C)  the entire working population over the age of 16 who currently have a job. 
D)  the entire working population over the age of 16 who are looking for a job or currently have a job. 
E)  the entire working population over the age of 16 and individuals in prison. 
A)  the entire working population. 
B)  the entire working population over the age of 16. 
C)  the entire working population over the age of 16 who currently have a job. 
D)  the entire working population over the age of 16 who are looking for a job or currently have a job. 
E)  the entire working population over the age of 16 and individuals in prison.

Question 12

Which of the following groups are not part of the working population?

Accepted Answer

A)  individuals over the age of 16 who can work but currently are not looking for a job 
B)  individuals over the age of 16 and currently working 
C)  individuals over the age of 16 and are in prison 
D)  individuals over the age of 16 who are not working but are looking for a job 
E)  both A and C 
A)  individuals over the age of 16 who can work but currently are not looking for a job 
B)  individuals over the age of 16 and currently working 
C)  individuals over the age of 16 and are in prison 
D)  individuals over the age of 16 who are not working but are looking for a job 
E)  both A and C

Question 13

Which of the following is a true statement about marginally attached workers?

Accepted Answer

A)  The individual has looked for a job within the past year,but not within the past month. 
B)  A marginally attached worker is a subset of the group considered to be discouraged workers. 
C)  The reason marginally attached workers are not looking for work is always because they do not believe there is a job for them. 
D)  The individual would like a job but has not looked for a job in the past two years. 
E)  Marginally attached workers are considered part of the labor force. 
A)  The individual has looked for a job within the past year,but not within the past month. 
B)  A marginally attached worker is a subset of the group considered to be discouraged workers. 
C)  The reason marginally attached workers are not looking for work is always because they do not believe there is a job for them. 
D)  The individual would like a job but has not looked for a job in the past two years. 
E)  Marginally attached workers are considered part of the labor force.

Question 14

The structural transformation from 1950 to 2000 has caused total employment to in the agricultural sector and in the manufacturing sector.

Accepted Answer

A)  decrease,increase 
B)  decrease,decrease 
C)  increase,increase 
D)  increase,decrease 
E)  decrease,remain the same 
A)  decrease,increase 
B)  decrease,decrease 
C)  increase,increase 
D)  increase,decrease 
E)  decrease,remain the same

Question 15

Which of the following is a true statement about trends in the U.S.labor force between 1950 and 2000?

Accepted Answer

A)  The male labor force participation rate has increased steadily. 
B)  The unemployment rate peaked during the Carter administration (1976-1980). 
C)  The female labor force participation rate has declined. 
D)  The increase in the labor force participation rate was caused by women joining the labor force. 
E)  The size of the labor force has not grown much over the past 50 years. 
A)  The male labor force participation rate has increased steadily. 
B)  The unemployment rate peaked during the Carter administration (1976-1980). 
C)  The female labor force participation rate has declined. 
D)  The increase in the labor force participation rate was caused by women joining the labor force. 
E)  The size of the labor force has not grown much over the past 50 years.

Question 16

Suppose that the facts are as follows:   Which city pays the highest real wage?

Accepted Answer

A)  I 
B)  II 
C)  III 
D)  IV 
E)  V 
A)  I 
B)  II 
C)  III 
D)  IV 
E)  V

Question 17

What is the labor force participation rate?

Accepted Answer

A)  2.4% 
B)  72.7% 
C)  74.5% 
D)  78.4% 
E)  88.9% 
A)  2.4% 
B)  72.7% 
C)  74.5% 
D)  78.4% 
E)  88.9%

Question 18

During 2008,the number of marginally attached workers,while the unemployment rate .

Accepted Answer

A)  stayed the same,increased 
B)  increased,increased 
C)  decreased,increased 
D)  stayed the same,stayed the same 
E)  stayed the same,decreased 
A)  stayed the same,increased 
B)  increased,increased 
C)  decreased,increased 
D)  stayed the same,stayed the same 
E)  stayed the same,decreased

Question 19

What is the worker's nominal wage in 2002?

Accepted Answer

A)  $20,488 
B)  $23,590 
C)  $35,000 
D)  $42,000 
E)  $70,000 
A)  $20,488 
B)  $23,590 
C)  $35,000 
D)  $42,000 
E)  $70,000

Question 20

Which of the following groups are not considered to be out of the labor force?

Accepted Answer

A)  students 
B)  stay-at-home parents 
C)  discouraged workers 
D)  marginally attached workers 
E)  unemployed workers 
A)  students 
B)  stay-at-home parents 
C)  discouraged workers 
D)  marginally attached workers 
E)  unemployed workers

What is the worker's real wage in 2002?

The National Compensation Survey (NCS),published by the Bureau of Labor Statistics,is problematic.Which of the following is not one of the reasons it is problematic?

What is the most commonly used normative criterion?

What is the employment-to-population rate?

What is the unemployment rate?

Which of the following is not a true statement about the Consumer Price Index (CPI)?

The straight time hourly wage equals

Which year did the worker have the highest real wages?

Which of the following individuals would be considered employed,according to the Bureau of Labor Statistics glossary?

What is the employment rate?

The labor force is made up of

Which of the following groups are not part of the working population?

Which of the following is a true statement about marginally attached workers?

The structural transformation from 1950 to 2000 has caused total employment to in the agricultural sector and in the manufacturing sector.

Which of the following is a true statement about trends in the U.S.labor force between 1950 and 2000?

Suppose that the facts are as follows: Which city pays the highest real wage?

What is the labor force participation rate?

During 2008,the number of marginally attached workers,while the unemployment rate .

What is the worker's nominal wage in 2002?

Which of the following groups are not considered to be out of the labor force?

Introduction

The Short Run Demand for Labor

The Supply of Labor

Human Capital

On-The-Job Training

Competitive Equilibrium

Policy Application: the Minimum Wage

Policy Application: the War on Poverty

Death and Injury in the Usworkplace-A Hedonic Analysis

Discrimination I: Theory

Discrimination Ii: Evidence and Policy

The Hiring Process

Incentives

Tasks,technologies,and Organizational Design

Careers and the Employment Relation

The Long Run Demand for Labor and Adjustment Costs

Filters

Exam 2: The Uslabor Market

What is the worker's real wage in 2002?

The National Compensation Survey (NCS),published by the Bureau of Labor Statistics,is problematic.Which of the following is not one of the reasons it is problematic?

What is the most commonly used normative criterion?

What is the employment-to-population rate?

What is the unemployment rate?

Which of the following is not a true statement about the Consumer Price Index (CPI)?

The straight time hourly wage equals

Which year did the worker have the highest real wages?

Which of the following individuals would be considered employed,according to the Bureau of Labor Statistics glossary?

What is the employment rate?

The labor force is made up of

Which of the following groups are not part of the working population?

Which of the following is a true statement about marginally attached workers?

The structural transformation from 1950 to 2000 has caused total employment to in the agricultural sector and in the manufacturing sector.

Which of the following is a true statement about trends in the U.S.labor force between 1950 and 2000?

Suppose that the facts are as follows: Which city pays the highest real wage?

What is the labor force participation rate?

During 2008,the number of marginally attached workers,while the unemployment rate .

What is the worker's nominal wage in 2002?

Which of the following groups are not considered to be out of the labor force?

Introduction

The Short Run Demand for Labor

The Supply of Labor

Human Capital

On-The-Job Training

Competitive Equilibrium

Policy Application: the Minimum Wage

Policy Application: the War on Poverty

Death and Injury in the Usworkplace-A Hedonic Analysis

Discrimination I: Theory

Discrimination Ii: Evidence and Policy

The Hiring Process

Incentives

Tasks,technologies,and Organizational Design

Careers and the Employment Relation

The Long Run Demand for Labor and Adjustment Costs

Filters