Question 1

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 decreased.

Accepted Answer

A) True 
 B)False

Question 2

Table 15-3
2010 Labor Data for Adults (age 16 and older)  in Meditor
   Males not in labar farce 45 million  Femeles nat in labor force 35 million  Males unemplayed 5 millian  Fenales unemployed 5 millian  Males employed 85 million  Fenales enployed 65 milling \begin{array} { | l | l | } \hline 	ext { Males not in labar farce } & 45 	ext { million } \\hline 	ext { Femeles nat in labor force } & 35 	ext { million } \\hline 	ext { Males unemplayed } & 5 	ext { millian } \\hline 	ext { Fenales unemployed } & 5 	ext { millian } \\hline 	ext { Males employed } & 85 	ext { million } \\hline 	ext { Fenales enployed } & 65 	ext { milling } \\hline\end{array} Males not in labar farce  Femeles nat in labor force  Males unemplayed  Fenales unemployed  Males employed  Fenales enployed ​45 million 35 million 5 millian 5 millian 85 million 65 milling ​​ 
-Refer to Table 15-3. What is the adult male unemployment rate in Meditor?

Accepted Answer

A)  3.7 percent
B)  5 percent
C)  5.6 percent
D)  5.9 percent E) B) and D)
F) A) and B)

Question 3

If you were told that someone you knew nothing else about had just become unemployed, your best guess would be

Accepted Answer

A)  that they would be unemployed for a long time, and that most of the unemployed they've joined have been unemployed for a long time.
B)  that they would be unemployed for a long time, even though most of the unemployed they've joined have been unemployed for a short time.
C)  that they would be unemployed for a short time, even though most of the unemployed they've joined have been unemployed for a long time.
D)  that they will be unemployed for a short time, and that most of the unemployed they've joined have been unemployed for a short time.E) B) and C)
F) C) and D)

Question 4

Labor Force Statistics by Age.Suppose people in the adult population in a small country are classified based on their age.   Lebar Farce Status  lets then 55 55 and alder  Number enplayed 400,000100,000 Number unamplayed 25,0007,000 Numbe in Papulation 600,000200,000\begin{array} { | l | c | c | } \hline  { 	ext { Lebar Farce Status } } & 	ext { lets then 55 } & 55 	ext { and alder } \\hline 	ext { Number enplayed } & 400,000 & 100,000 \\hline 	ext { Number unamplayed } & 25,000 & 7,000 \\hline 	ext { Numbe in Papulation } & 600,000 & 200,000 \\hline\end{array} Lebar Farce Status  Number enplayed  Number unamplayed  Numbe in Papulation ​ lets then 55 400,00025,000600,000​55 and alder 100,0007,000200,000​​ 
-Refer to Labor Force Statistics by Age. Suppose that the natural rate of unemployment is 5% for those under 55 and 3% for those 55 and older. The cyclical unemployment rate for those under 55 is

Accepted Answer

A)  .88% which is greater than the cyclical unemployment rate for those 55 and older.
B)  .88% which is less than the cyclical unemployment rate for those 55 and older.
C)  -.83% which is greater than the cyclical unemployment rate for those 55 and older.
D)  -.83% which is less than the cyclical unemployment rate for those 55 and older. E) A) and C)
F) All of the above

Question 5

Which of the following is not correct?

Accepted Answer

A)  An organized withdrawal of labor from a firm by a union is called a strike.
B)  The power of a union comes from its ability to strike if the union and the firm do not agree on the terms of employment.
C)  Economists who study the effects of unions typically find that union workers earn about 25 to 35 percent more than similar workers who do not belong to unions.
D)  Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.E) B) and C)
F) None of the above

Question 6

Which of the following is not correct?

Accepted Answer

A)  When a union is present in a labor market, wages are not 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 a strike.
D)  Most workers in the U.S. economy are not members of a union.E) A) and B)
F) C) and D)

Question 7

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually increased.

Accepted Answer

A) True 
 B)False

Question 8

Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

Accepted Answer

A) True 
 B)False

Question 11

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Accepted Answer

A)  those unemployed relative to those employed.
B)  the labor force that is unemployed.
C)  the adult population that is unemployed.
D)  the adult population that is unemployed or not in the labor force.E) B) and C)
F) All of the above

Question 12

Table 15-5
2010 Labor Data for Tajnia
 $$\begin{array} { | l | l | } 
\hline \text { Number of adiults employed } & 10,000 \
\hline \text { Number of adults unemployed } & 2,250 \
\hline \text { Number of atults not in the labar force } & 17,750 \
\hline
\end{array}$$
-Refer to Table 15-5. The labor force of Tajnia in 2010 is 10,000.

Accepted Answer

A) True 
 B)False

Question 13

Most job search in the U.S. economy takes place with the help of the government.

Accepted Answer

A) True 
 B)False

Question 14

Suppose that efficiency wages become more common in the economy. Imposing efficiency wages

Accepted Answer

A)  Increases the quantity demanded and decreases the quantity supplied of labor.
B)  Decreases the quantity demanded and increases the quantity supplied of labor
C)  increases the quantity demanded and decreases the quantity supplied of labor.
D)  decreases the quantity demanded and increases the quantity supplied of laborE) A) and B)
F) B) and C)

Question 15

Minimum-wage laws are one reason there is always some unemployment in the U.S. economy.

Accepted Answer

A) True 
 B)False

Question 16

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) B) and C)
F) A) and B)

Question 17

The Bureau of Labor Statistics divides the adult population into three categories: employed, unemployed, and not in the labor force.

Accepted Answer

A) True 
 B)False

Question 18

Unemployment insurance

Accepted Answer

A)  reduces the hardship of unemployment, but it also increases the amount of unemployment.
B)  reduces the incentive for the unemployed to find and take new jobs.
C)  causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.
D)  All of the above are correct.E) A) and C)
F) A) and D)

Question 19

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) B) and C)

Question 20

Sectoral shifts contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Exam 15: Unemployment

Suppose that efficiency wages become more common in the economy. Imposing efficiency wages

Correct Answer
verified

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually increased.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

If you were told that someone you knew nothing else about had just become unemployed, your best guess would be

Correct Answer
verified

The Bureau of Labor Statistics divides the adult population into three categories: employed, unemployed, and not in the labor force.

Correct Answer
verified

Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.

Correct Answer
verified

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 decreased.

Correct Answer
verified

Unemployment insurance

Correct Answer
verified

Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

Correct Answer
verified

Which of the following is not correct?

Correct Answer
verified

Correct Answer
verified

Most job search in the U.S. economy takes place with the help of the government.

Correct Answer
verified

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Sectoral shifts contribute to frictional unemployment.

Correct Answer
verified

Minimum-wage laws are one reason there is always some unemployment in the U.S. economy.

Correct Answer
verified

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

Correct Answer
verified

Which of the following is not correct?

Correct Answer
verified

Exam 15: Unemployment

Suppose that efficiency wages become more common in the economy. Imposing efficiency wages

Correct AnswerverifiedShow Answer

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually increased.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If you were told that someone you knew nothing else about had just become unemployed, your best guess would be

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics divides the adult population into three categories: employed, unemployed, and not in the labor force.

Correct AnswerverifiedShow Answer

Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.

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 decreased.

Correct AnswerverifiedShow Answer

Unemployment insurance

Correct AnswerverifiedShow Answer

Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

Correct AnswerverifiedShow Answer

Which of the following is not correct?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Most job search in the U.S. economy takes place with the help of the government.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Sectoral shifts contribute to frictional unemployment.

Correct AnswerverifiedShow Answer

Minimum-wage laws are one reason there is always some unemployment in the U.S. economy.

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

Which of the following is not correct?

Correct AnswerverifiedShow Answer

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