Question 1

Since 1960, the natural rate of unemployment in the U.S. has been between

Accepted Answer

A)   0.4 and 0.6 percent.
B)   4 and 6 percent.
C)   6 and 12 percent.
D)   12 and 24 percent.E) None of the above
F) A) and B)

Question 2

The efficiency-wage theory of worker quality suggests that if firms respond to a surplus of labor by reducing the wage, then highly qualified workers will be

Accepted Answer

A)   more likely to apply, and unemployment will increase.
B)   more likely to apply, and unemployment will decrease.
C)   less likely to apply, and unemployment will increase
D)   less likely to apply, and unemployment will increase.E) B) and C)
F) A) and D)

Question 3

Since the 1940's U.S. union membership has

Accepted Answer

A)   fallen. This decline should have reduced structural unemployment.
B)   fallen. This decline should not have reduced structural unemployment.
C)   risen. This increase should have raised structural unemployment.
D)   risen. This increase should not have raised structural unemployment.E) A) and B)
F) A) and C)

Question 4

Someone who has a job but is absent from work because she is on vacation is counted as employed.

Accepted Answer

A) True 
 B)False

Question 5

An economist claims that changes in information technology and unemployment insurance have reduced unemployment. Which of these changes affect frictional unemployment?

Accepted Answer

A)   both the changes in information technology and unemployment insurance
B)   only the changes in information technology
C)   only the changes in unemployment insurance
D)   neither the changes in information technology nor the changes in unemployment insuranceE) None of the above
F) A) and B)

Question 6

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.E) None of the above
F) C) and D)

Question 7

According to 2009 data on the U.S. population, which of the following groups of adults (ages 20 and older)  had the highest labor-force participation rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) All of the above
F) A) and C)

Question 8

The Bureau of Labor Statistics' U-3 measure of joblessness is the official unemployment rate.

Accepted Answer

A) True 
 B)False

Question 9

Within the U.S. population, women ages 20 and older have similar rates of labor-force participation as men.

Accepted Answer

A) True 
 B)False

Question 10

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Accepted Answer

A) True 
 B)False

Question 11

Table 10-4
 
-Refer to Table 10-4. What is the U-6 measure of labor underutilization?

Accepted Answer

A)   8.4 percent
B)   9.0 percent
C)   9.2 percent
D)   35.2 percentE) C) and D)
F) A) and B)

Question 12

Today, the four industries with the largest employment in the United States are autos, aircraft, communications, and electrical components.

Accepted Answer

A) True 
 B)False

Question 13

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Accepted Answer

A) True 
 B)False

Question 14

Suppose that furniture factory worker are unionized. If these workers decide not to be unionized,

Accepted Answer

A)   the quantity of furniture factory workers demanded will rise. The supply of workers in other industries will also rise.
B)   the quantity of furniture factory workers demanded will rise. The supply of workers in other industries will fall.
C)   the quantity of furniture factory workers demanded will fall. The supply of workers in other industries will rise.
D)   the quantity of furniture factory workers demanded will fall. The supply of workers in other industries will also fall.E) A) and B)
F) A) and C)

Question 15

A century ago, the four industries with the largest employment in the United States were cotton goods, woolen goods, men's clothing, and lumber.

Accepted Answer

A) True 
 B)False

Question 16

Meredith recently graduated from college but has not yet started working. To be counted as unemployed she

Accepted Answer

A)   does not have to have looked for work.
B)   must have looked for work no more than a week ago.
C)   must have looked for work no more than 4 weeks ago.
D)   must have looked for work no more than 12 weeks ago.E) B) and D)
F) All of the above

Question 17

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then there would be no

Accepted Answer

A)   cyclical unemployment.
B)   frictional unemployment.
C)   natural rate of unemployment.
D)   structural unemployment.E) B) and D)
F) C) and D)

Question 18

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

Accepted Answer

A) True 
 B)False

Question 19

More than 3 percent of U.S. workers leave their jobs in a typical month.

Accepted Answer

A) True 
 B)False

Question 20

Table 10-3
2010 Labor Data for Adults (age 16 and older)  in Meditor
 
-Refer to Table 10-3. What is the adult female labor force in Meditor?

Accepted Answer

A)   40 million
B)   65 million
C)   70 million
D)   100 millionE) B) and D)
F) A) and B)

Exam 10: Unemployment

Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.

Correct AnswerverifiedShow Answer

Paying efficiency wages means that wages are

Correct AnswerverifiedShow Answer

Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

Correct AnswerverifiedShow Answer

Within the U.S. population, women ages 20 and older have similar rates of labor-force participation as men.

Correct AnswerverifiedShow Answer

Today, the four industries with the largest employment in the United States are autos, aircraft, communications, and electrical components.

Correct AnswerverifiedShow Answer

Someone who has a job but is absent from work because she is on vacation is counted as employed.

Correct AnswerverifiedShow Answer

If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment.

Correct AnswerverifiedShow Answer

Suppose that furniture factory worker are unionized. If these workers decide not to be unionized,

Correct AnswerverifiedShow Answer

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then there would be no

Correct AnswerverifiedShow Answer

Table 10-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 10-3. What is the adult female labor force in Meditor?

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An economist claims that changes in information technology and unemployment insurance have reduced unemployment. Which of these changes affect frictional unemployment?

Correct AnswerverifiedShow Answer

According to 2009 data on the U.S. population, which of the following groups of adults (ages 20 and older) had the highest labor-force participation rate?

Correct AnswerverifiedShow Answer

Meredith recently graduated from college but has not yet started working. To be counted as unemployed she

Correct AnswerverifiedShow Answer

Table 10-4 -Refer to Table 10-4. What is the U-6 measure of labor underutilization?

Correct AnswerverifiedShow Answer

A century ago, the four industries with the largest employment in the United States were cotton goods, woolen goods, men's clothing, and lumber.

Correct AnswerverifiedShow Answer

Since the 1940's U.S. union membership has

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' U-3 measure of joblessness is the official unemployment rate.

Correct AnswerverifiedShow Answer

Since 1960, the natural rate of unemployment in the U.S. has been between

Correct AnswerverifiedShow Answer

More than 3 percent of U.S. workers leave their jobs in a typical month.

Correct AnswerverifiedShow Answer

The efficiency-wage theory of worker quality suggests that if firms respond to a surplus of labor by reducing the wage, then highly qualified workers will be

Correct AnswerverifiedShow Answer

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