Question 1

Figure 28-1 
-Refer to Figure 28-1.If the government imposes a minimum wage of $4,then how many workers will be employed?

Accepted Answer

A)   3000
B)   4000
C)   5000
D)   7000E) A) and B)
F) B) and D)

Question 2

The Bureau of Labor Statistics counts a member of a surveyed household as an adult if that person is at least

Accepted Answer

A)   14 years old.
B)   16 years old.
C)   18 years old.
D)   21 years old.E) B) and D)
F) All of the above

Question 3

According to the theory of efficiency wages,firms operate more efficiently if wages are below the equilibrium level.

Accepted Answer

A) True 
 B)False

Question 4

Public policy,without intending to do so,can increase frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Accepted Answer

A) True 
 B)False

Question 7

Unions do not cause which of the following?

Accepted Answer

A)   frictional unemployment
B)   the wage to rise above the equilibrium level
C)   conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs
D)   reduced wages in nonunionized industriesE) C) and D)
F) None of the above A

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

The demand for labor by a certain firm is independent of the demand for that firm's product.

Accepted Answer

A) True 
 B)False

Question 10

Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False  True

Question 11

Which of the following is not a contention of advocates of unions?

Accepted Answer

A)   Unions are a necessary antidote to the market power of the firms that hire workers.
B)   In the case of a "company town," a union may balance the firm's market power and protect the workers from being at the mercy of the firm's owners.
C)   The introduction of a union benefits all workers in a firm.
D)   Unions are important for helping firms respond efficiently to workers' concerns.E) B) and C)
F) None of the above

Question 12

Data show that at least 10 percent of U.S.manufacturing jobs are destroyed every year.

Accepted Answer

A) True 
 B)False

Question 13

The efficiency-wage theory of worker health is

Accepted Answer

A)   more relevant for explaining unemployment in less developed countries than in rich countries.
B)   more relevant for explaining unemployment in rich countries than in less developed countries.
C)   equally relevant for explaining unemployment in less developed countries and in rich countries.
D)   not relevant for explaining unemployment.E) A) and B)
F) A) and C)

Question 14

Economists at the Congressional Budget Office estimated that for 2007,the U.S.natural rate of unemployment was

Accepted Answer

A)   2.6 percent.
B)   3.1 percent.
C)   4.8 percent.
D)   6 percent.E) A) and B)
F) A) and C)

Question 15

Zeeman is a college student who is not working or looking for a job.The Bureau of Labor Statistics counts Zeeman as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed,but not in the labor force.
C)   in the labor force,but not unemployed.
D)   neither in the labor force nor unemployed.E) None of the above
F) A) and C) D

Question 16

Eponine works part-time as a babysitter.The Bureau of Labor Statistics counts Eponine as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed and not in the labor force.
C)   employed and in the labor force.
D)   employed and not in the labor force.E) B) and C)
F) B) and D)

Question 17

The process by which unions and firms agree on the terms of employment is called collective bargaining.

Accepted Answer

A) True 
 B)False

Question 18

The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates.

Accepted Answer

A) True 
 B)False

Question 19

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 20

Table 28-1
Labor Data for Wrexington
 
-Refer to Table 28-1.The unemployment rate of Wrexington in 2005 was

Accepted Answer

A)   20%.
B)   31.6%.
C)   46.2%.
D)   63.3%.E) None of the above
F) All of the above

Exam 28: Unemployment

Figure 28-1 -Refer to Figure 28-1.If the government imposes a minimum wage of $4,then how many workers will be employed?

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics counts a member of a surveyed household as an adult if that person is at least

Correct AnswerverifiedShow Answer

According to the theory of efficiency wages,firms operate more efficiently if wages are below the equilibrium level.

Correct AnswerverifiedShow Answer

Public policy,without intending to do so,can increase frictional unemployment.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment.

Correct AnswerverifiedShow Answer

Unions do not cause which of the following?

Correct AnswerverifiedA

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

Correct AnswerverifiedShow Answer

The demand for labor by a certain firm is independent of the demand for that firm's product.

Correct AnswerverifiedShow Answer

Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedTrue

Which of the following is not a contention of advocates of unions?

Correct AnswerverifiedShow Answer

Data show that at least 10 percent of U.S.manufacturing jobs are destroyed every year.

Correct AnswerverifiedShow Answer

The efficiency-wage theory of worker health is

Correct AnswerverifiedShow Answer

Economists at the Congressional Budget Office estimated that for 2007,the U.S.natural rate of unemployment was

Correct AnswerverifiedShow Answer

Zeeman is a college student who is not working or looking for a job.The Bureau of Labor Statistics counts Zeeman as

Correct AnswerverifiedD

Eponine works part-time as a babysitter.The Bureau of Labor Statistics counts Eponine as

Correct AnswerverifiedShow Answer

The process by which unions and firms agree on the terms of employment is called collective bargaining.

Correct AnswerverifiedShow Answer

The demand for labor by a certain firm fluctuates as the demand for that firm's product fluctuates.

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

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The unemployment rate of Wrexington in 2005 was

Correct AnswerverifiedShow Answer

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A

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True

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D

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