Question 1

Which of the following is not a reason that paying efficiency wages may increase a firm's profit?

Accepted Answer

A)   Efficiency wages increase worker health and therefore increase worker productivity.
B)   Efficiency wages decrease worker turnover and therefore decrease hiring and training costs.
C)   Efficiency wages decrease worker shirking and therefore increase worker productivity.
D)   Efficiency wages are below the equilibrium wage rate,but still attract a sufficient number of workers.E) A) and C)
F) None of the above

Question 2

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Accepted Answer

A) True 
 B)False

Question 3

Suppose some country had an adult population of about 50 million,a labor-force participation rate of 60 percent,and an unemployment rate of 5 percent.How many people were unemployed?

Accepted Answer

A)   1.425 million
B)   1.5 million
C)   2.5 million
D)   5 millionE) A) and C)
F) C) and D)

Question 4

In order,which group has the highest participation rate and which has the higher unemployment rate?

Accepted Answer

A)   black males,black males
B)   black males,white males
C)   white males,black males
D)   white males,white malesE) None of the above
F) C) and D)

Question 5

When a minimum-wage law forces the wage to remain above the level that balances supply and demand,there are more workers willing to work than there are jobs,so some workers are unemployed.

Accepted Answer

A) True 
 B)False

Question 6

What problems arise in interpreting unemployment data?

Accepted Answer

Because people move into and out of the ...

Question 7

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A)   4.8 percent
B)   5 percent
C)   7.1 percent
D)   7.7 percentE) A) and B)
F) A) and D)

Question 9

A union is a type of cartel.

Accepted Answer

A) True 
 B)False

Question 10

Both full-time and part-time workers are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 11

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) B) and C)
F) None of the above

Question 12

Unemployment insurance is designed to offer workers full protection against job loss.

Accepted Answer

A) True 
 B)False

Question 13

Sectoral shifts contribute to structural unemployment.

Accepted Answer

A) True 
 B)False

Question 14

A firm might offer efficiency wages in order to reduce shirking.

Accepted Answer

A) True 
 B)False

Question 15

Suppose that appliance factory workers and furniture factory workers are not unionized.If the furniture factory workers unionize,then

Accepted Answer

A)   the wages of appliance factory workers will rise and the wages of furniture factory workers will fall.
B)   the wages of furniture factory workers will rise and the wages of appliance factory workers will fall.
C)   the wages of both appliance factory workers and furniture factory workers will rise.
D)   the wages of both appliance factory workers and furniture factory workers will fall.E) A) and B)
F) All of the above

Question 16

Why have labor-force participation rates for women in the United States increased since World War II while labor-force participation rates for men have decreased?

Accepted Answer

Causes of the increase in the U.S.women'...

Question 17

The Bureau of labor statistics divides the adult population into two categorizes,those who are employed and those who are unemployed.

Accepted Answer

A) True 
 B)False

Question 18

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the lowest unemployment rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) A) and B)
F) B) and D)

Question 19

The adult population must equal the sum of the employed,the unemployed,and those not in the labor force.

Accepted Answer

A) True 
 B)False

Question 20

Teenage unemployment is higher than unemployment of people ages 20 and over.Explain why economists would attribute at least part of this difference to minimum-wage laws.

Accepted Answer

People who are experienced and educated ...

Exam 28: Unemployment

A union is a type of cartel.

Correct AnswerverifiedShow Answer

What problems arise in interpreting unemployment data?

Correct AnswerverifiedBecause people move into and out of the ...View AnswerShow Answer

Suppose some country had an adult population of about 50 million,a labor-force participation rate of 60 percent,and an unemployment rate of 5 percent.How many people were unemployed?

Correct AnswerverifiedShow Answer

In order,which group has the highest participation rate and which has the higher unemployment rate?

Correct AnswerverifiedShow Answer

Which of the following is not a reason that paying efficiency wages may increase a firm's profit?

Correct AnswerverifiedShow Answer

According to 2009 data on the U.S.population,which of the following groups of teenagers (ages 16-19) had the lowest unemployment rate?

Correct AnswerverifiedShow Answer

The adult population must equal the sum of the employed,the unemployed,and those not in the labor force.

Correct AnswerverifiedShow Answer

Sectoral shifts contribute to structural unemployment.

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 female unemployment rate in Meditor?

Correct AnswerverifiedShow Answer

The Bureau of labor statistics divides the adult population into two categorizes,those who are employed and those who are unemployed.

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages in order to reduce shirking.

Correct AnswerverifiedShow Answer

Teenage unemployment is higher than unemployment of people ages 20 and over.Explain why economists would attribute at least part of this difference to minimum-wage laws.

Correct AnswerverifiedPeople who are experienced and educated ...View AnswerShow Answer

When a minimum-wage law forces the wage to remain above the level that balances supply and demand,there are more workers willing to work than there are jobs,so some workers are unemployed.

Correct AnswerverifiedShow Answer

Suppose that appliance factory workers and furniture factory workers are not unionized.If the furniture factory workers unionize,then

Correct AnswerverifiedShow Answer

Why have labor-force participation rates for women in the United States increased since World War II while labor-force participation rates for men have decreased?

Correct AnswerverifiedCauses of the increase in the U.S.women'...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Correct AnswerverifiedShow Answer

Unemployment insurance is designed to offer workers full protection against job loss.

Correct AnswerverifiedShow Answer

Both full-time and part-time workers are included in the Bureau of Labor Statistics' "employed" category.

Correct AnswerverifiedShow Answer

Frictional unemployment is often thought to explain relatively short spells of unemployment.

Correct AnswerverifiedShow Answer

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Because people move into and out of the ...
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People who are experienced and educated ...
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Causes of the increase in the U.S.women'...
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