Question 1

Which of the following is correct?

Accepted Answer

A)   Nearly all economists believe that unions are bad for the economy as a whole.
B)   Unionized firms pay wages above the competitive equilibrium level.
C)   Unions increase the level of employment in unionized firms.
D)   Unions decrease the level of employment in firms without unions.E) C) and D)
F) A) and D)

Question 2

More generous unemployment insurance would

Accepted Answer

A)   raise structural unemployment.
B)   raise frictional unemployment.
C)   lower structural unemployment.
D)   lower frictional unemployment.E) B) and C)
F) A) and D)

Question 3

Which of the following is not an explanation for the existence of unemployment in the long run?

Accepted Answer

A)   it takes time for workers to search for the jobs that are best suited for them
B)   minimum-wage laws
C)   unions
D)   the business cycleE) B) and C)
F) A) and D)

Question 4

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Accepted Answer

A)   be available for work.
B)   have tried to find employment during the previous week.
C)   have previously been employed.
D)   All of the above are correct.E) A) and D)
F) All of the above

Question 5

Karena was laid off, but she is expecting to be recalled. She has not looked for work since being laid off. Nathan is not employed, nor was he laid off. Who is counted as "unemployed" in the U.S. labor force statistics?

Accepted Answer

A)   1)  Karena and 2)  Nathan, even if Nathan has not looked for work during the previous four weeks
B)   1)  Karena and 2)  Nathan, if Nathan has looked for work during the previous four weeks
C)   1)  not Karena but 2)  Nathan, even if Nathan has not looked for work during the previous four weeks
D)   1)  not Karena but 2)  Nathan, if Nathan has looked for work during the previous four weeksE) B) and D)
F) B) and C)

Question 6

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Accepted Answer

A)   frictional unemployment created by sectoral shifts.
B)   frictional unemployment created by efficiency wages.
C)   structural unemployment created by efficiency wages.
D)   structural unemployment created by sectoral shifts.E) A) and B)
F) A) and C)

Question 7

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%E) A) and D)
F) A) and C)

Question 8

Unemployment insurance the amount of unemployment.

Accepted Answer

The answer of Unemployment insurance the amount of unemployment....

Question 9

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

Accepted Answer

A)   0.9 million
B)   14.1 million
C)   15 million
D)   23.5 millionE) A) and D)
F) B) and C)

Question 10

In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year. What percentage of the unemployment spells you encountered was short term, and what percentage of the unemployment you encountered in a given week was long term?

Accepted Answer

A)   52% was short term; 13.3% was long term
B)   52% was short term; 88.9% was long term
C)   86.7% was short term; 13.3 was long term
D)   86.7% was short term; 88.9 was long termE) B) and D)
F) All of the above

Question 11

A typical American worker covered by unemployment insurance receives 50 percent of his former wages for 52 weeks.

Accepted Answer

A) True 
 B)False

Question 12

Table 28-1
Sample Population
 
-Refer to Table 28-1. How many in the sample are in the labor force?

Accepted Answer

A)   11
B)   10
C)   9
D)   8E) B) and D)
F) None of the above

Question 13

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-4 unemployment rate.

Accepted Answer

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

Question 14

Suppose that some people are counted as unemployed when, to maintain unemployment compensation, they search for work only at places where they are unlikely to be hired. If these individuals were counted as out of the labor force instead of as unemployed, then

Accepted Answer

A)   both the unemployment rate and labor-force participation rate would be higher.
B)   both the unemployment rate and labor-force participation rate would be lower.
C)   the unemployment rate would be lower, and the labor-force participation rate would be higher.
D)   the unemployment rate would be higher, and the labor-force participation rate would be lower.E) A) and B)
F) B) and C)

Question 15

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.E) A) and D)
F) A) and C)

Question 16

Which of the following does not help reduce frictional unemployment?

Accepted Answer

A)   government-run employment agencies
B)   public training programs
C)   unemployment insurance
D)   All of the above help reduce frictional unemployment.E) B) and C)
F) A) and D)

Question 17

The Bureau of Labor Statistics classifies people who would like to work but have given up looking for a job as

Accepted Answer

A)   unemployed. If they were classified as out of the labor force, the reported unemployment rate would be larger.
B)   unemployed. If they were classified as out of the labor force, the reported unemployment rate would be smaller.
C)   out of the labor force. If they were classified as unemployed, the reported unemployment rate would be larger.
D)   out of the labor force. If they were classified as unemployed, the reported unemployment rate would be smaller.E) C) and D)
F) A) and B)

Question 18

Job search is the process of matching workers with appropriate jobs.

Accepted Answer

A) True 
 B)False

Question 19

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Accepted Answer

A)   always zero.
B)   sometimes zero.
C)   rarely zero.
D)   never zero.E) A) and C)
F) All of the above

Question 20

Most spells of unemployment are long, and most unemployment observed at any given time is long-term.

Accepted Answer

A) True 
 B)False

Exam 15: Unemployment

Which of the following is correct?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year. What percentage of the unemployment spells you encountered was short term, and what percentage of the unemployment you encountered in a given week was long term?

Correct AnswerverifiedShow Answer

Job search is the process of matching workers with appropriate jobs.

Correct AnswerverifiedShow Answer

Most spells of unemployment are long, and most unemployment observed at any given time is long-term.

Correct AnswerverifiedShow Answer

Which of the following does not help reduce frictional unemployment?

Correct AnswerverifiedShow Answer

More generous unemployment insurance would

Correct AnswerverifiedShow Answer

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

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Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics classifies people who would like to work but have given up looking for a job as

Correct AnswerverifiedShow Answer

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Correct AnswerverifiedShow Answer

Suppose that some people are counted as unemployed when, to maintain unemployment compensation, they search for work only at places where they are unlikely to be hired. If these individuals were counted as out of the labor force instead of as unemployed, then

Correct AnswerverifiedShow Answer

Which of the following is not an explanation for the existence of unemployment in the long run?

Correct AnswerverifiedShow Answer

Unemployment insurance the amount of unemployment.

Correct AnswerverifiedShow Answer

Karena was laid off, but she is expecting to be recalled. She has not looked for work since being laid off. Nathan is not employed, nor was he laid off. Who is counted as "unemployed" in the U.S. labor force statistics?

Correct AnswerverifiedShow Answer

Table 28-1 Sample Population -Refer to Table 28-1. How many in the sample are in the labor force?

Correct AnswerverifiedShow Answer

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-4 unemployment rate.

Correct AnswerverifiedShow Answer

A typical American worker covered by unemployment insurance receives 50 percent of his former wages for 52 weeks.

Correct AnswerverifiedShow Answer

Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

Correct AnswerverifiedShow Answer

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Correct AnswerverifiedShow Answer

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