Question 1

Within the U.S. ,blacks have higher rates of unemployment than whites.

Accepted Answer

A) True 
 B)False

Question 2

The adult labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market.

Accepted Answer

A) True 
 B)False

Question 3

U.S.Department of Labor data show that minimum-wage workers tend to be young,less educated,more likely to be working part time,and concentrated in the leisure and hospitality industry.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A)   Lisa,who did not work during the previous 4 weeks
B)   Julie,who tried to find new employment during the previous 4 weeks
C)   Robert,who was an unpaid worker during the previous 4 weeks
D)   None of the above is correct.E) A) and B)
F) A) and C)

Question 5

Which of the following is correct?

Accepted Answer

A)   The BLS uses data collected from those applying for unemployment insurance to compute the unemployment rate.
B)   The labor force includes all adults who are able to work.
C)   Unpaid homemakers are counted as employed by the BLS.
D)   People working part time are counted as employed by the BLS.E) A) and B)
F) A) and C)

Question 6

Of the following groups,who is eligible for unemployment insurance benefits?

Accepted Answer

A)   the unemployed who quit their jobs
B)   the unemployed who were laid off because their previous employers no longer needed their skills
C)   the unemployed who were fired for cause
D)   the unemployed who just entered the labor forceE) A) and B)
F) B) and D)

Question 7

Table 15-3
2010 Labor Data for Adults (age 16 and older) in Meditor
 
-Refer to Table 15-3.What is the adult population in Meditor?

Accepted Answer

A)   90 million
B)   160 million
C)   230 million
D)   240 millionE) All of the above
F) C) and D)

Question 8

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 9

Table 15-3
2010 Labor Data for Adults (age 16 and older) in Meditor
 
-Refer to Table 15-3.What is the adult labor-force participation rate in Meditor?

Accepted Answer

A)   37.5 percent
B)   62.5 percent
C)   66.7 percent
D)   95.8 percentE) A) and C)
F) B) and C)

Question 10

Table 15-4
 
-Refer to Table 15-4.What is the U-5 measure of labor underutilization?

Accepted Answer

A)   7.5 percent
B)   7.9 percent
C)   8.1 percent
D)   26 percentE) B) and C)
F) C) and D)

Question 11

Which of the following is not correct?

Accepted Answer

A)   When a union is present in a labor market,wages are determined by the equilibrium of supply and demand.
B)   Like any cartel,a union is a group of sellers acting together in the hope of exerting their joint market power.
C)   The process by which unions and firms agree on the terms of employment is called collective bargaining.
D)   Most workers in the U.S.economy are not members of a union.E) None of the above
F) All of the above

Question 12

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is correct?

Accepted Answer

A)   There is consensus among economists that unions are good for the economy.
B)   There is consensus among economists that unions are bad for the economy.
C)   There is consensus among economists that,on net,unions have almost no impact on macroeconomic variables.
D)   There is no consensus among economists about whether unions are good or bad for the economy.E) None of the above
F) A) and C)

Question 14

Government policy can do nothing about the natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 15

President Bigego is running for re-election against Senator Pander.Bigego proclaims that more people are working now than when he took office.Pander says that the unemployment rate is higher now than when Bigego took office.You conclude that

Accepted Answer

A)   one of them must be lying.
B)   both of them could be telling the truth if the labor force and employment grew at the exact same rate.
C)   both of them could be telling the truth if the labor force grew slower than employment.
D)   both of them could be telling the truth if the labor force grew faster than employment.E) All of the above
F) A) and B)

Question 16

Unemployment that results because the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one is called

Accepted Answer

A)   the natural rate of unemployment.
B)   cyclical unemployment.
C)   structural unemployment.
D)   frictional unemployment.E) None of the above
F) C) and D)

Question 17

If the minimum wage is currently above the equilibrium wage,then a decrease in the minimum wage

Accepted Answer

A)   increases both the quantity demanded and the quantity supplied of labor.
B)   decreases both the quantity demanded and the quantity supplied of labor.
C)   increases the quantity of labor demanded but decreases the quantity of labor supplied.
D)   decreases the quantity of labor demanded but increases the quantity of labor supplied.E) C) and D)
F) B) and D)

Question 18

Public policy can reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 19

-Refer to Labor Market Data.If the government imposed a minimum wage of $5,what would unemployment be?

Accepted Answer

A)   0
B)   2,000
C)   3,000
D)   5,000E) A) and C)
F) A) and B)

Question 20

Over the past several decades in the United States,the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

-Refer to Labor Market Data.If the government imposed a minimum wage of $5,what would unemployment be?

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If the minimum wage is currently above the equilibrium wage,then a decrease in the minimum wage

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Table 15-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 15-3.What is the adult population in Meditor?

Correct AnswerverifiedShow Answer

Government policy can do nothing about the natural rate of unemployment.

Correct AnswerverifiedShow Answer

President Bigego is running for re-election against Senator Pander.Bigego proclaims that more people are working now than when he took office.Pander says that the unemployment rate is higher now than when Bigego took office.You conclude that

Correct AnswerverifiedShow Answer

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

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Of the following groups,who is eligible for unemployment insurance benefits?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Within the U.S. ,blacks have higher rates of unemployment than whites.

Correct AnswerverifiedShow Answer

Table 15-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 15-3.What is the adult labor-force participation rate in Meditor?

Correct AnswerverifiedShow Answer

Table 15-4 -Refer to Table 15-4.What is the U-5 measure of labor underutilization?

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups.

Correct AnswerverifiedShow Answer

The adult labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market.

Correct AnswerverifiedShow Answer

U.S.Department of Labor data show that minimum-wage workers tend to be young,less educated,more likely to be working part time,and concentrated in the leisure and hospitality industry.

Correct AnswerverifiedShow Answer

Over the past several decades in the United States,the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Correct AnswerverifiedShow Answer

Which of the following is correct?

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Which of the following is not correct?

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Public policy can reduce the economy's natural rate of unemployment.

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Which of the following is correct?

Correct AnswerverifiedShow Answer

Unemployment that results because the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one is called

Correct AnswerverifiedShow Answer

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