Question 1

Advocates of government-run employment agencies and public training programs believe they make job search more efficient.

Accepted Answer

A) True 
 B)False

Question 2

How does the government measure the economy's rate of unemployment?

Accepted Answer

The unemployment rat...

Question 3

Give an historical example of an efficiency wage that was considered by the firm to be "one of the finest cost­ cutting moves we ever made."

Accepted Answer

Henry Ford paid $5 per day to ...

Question 4

Anna recently graduated from college with a degree in electrical engineering, but she 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 four weeks ago.
D)   must have looked for work no more than twelve weeks ago.E) A) and D)
F) B) and D)

Question 5

Table 28-11
2010 Labor Data for Tajnia
 
-Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

Accepted Answer

A) True 
 B)False

Question 6

Efficiency wages create a labor

Accepted Answer

A)   surplus and so increase unemployment.
B)   surplus and so decrease unemployment.
C)   shortage and so increase unemployment.
D)   shortage and so decrease unemployment.E) None of the above
F) A) and D)

Question 7

Satchel loses his job and immediately begins looking for another. Other things the same, the unemployment rate

Accepted Answer

A)   increases, and the labor-force participation rate decreases.
B)   and the labor-force participation rate both increase.
C)   increases, and the labor-force participation rate is unaffected.
D)   is unaffected, and the labor-force participation rate decreases.E) A) and B)
F) A) and C)

Question 8

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The labor force of Aridia in 2010 was

Accepted Answer

A)   1,400.
B)   1,600.
C)   1,800.
D)   2,000.E) A) and B)
F) A) and C)

Question 9

Figure 28-3 
-Refer to Figure 28-3. If the government imposes a minimum wage of $8, then employment will decrease by

Accepted Answer

A)   0 workers.
B)   2,000 workers.
C)   3,000 workers.
D)   4,000 workers.E) A) and D)
F) B) and C)

Question 10

Which of the following is not among the four industries with the largest employment in the United States today?

Accepted Answer

A)   lumber
B)   aircraft
C)   communications
D)   electrical componentsE) B) and D)
F) B) and C)

Question 11

Collective bargaining refers to

Accepted Answer

A)   the process by which the government sets exemptions from the minimum wage law.
B)   setting the same wage for all employees to prevent conflict among workers.
C)   firms colluding to set the wages of employees below equilibrium.
D)   the process by which unions and firms agree on the terms of employment.E) B) and C)
F) C) and D)

Question 12

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The unemployment rate of Aridia in 2010 was

Accepted Answer

A)   10%.
B)   12.5%.
C)   14.3%.
D)   80%.E) A) and B)
F) A) and C)

Question 13

Sam has no job but keeps applying to get a job with a business that is unionized. He is qualified and he finds the pay attractive, but the firm is not hiring. Sam is

Accepted Answer

A)   structurally unemployed. Structural unemployment exists even in the long run.
B)   structurally unemployed. Structural unemployment does not exist in the long run.
C)   frictionally unemployed. Frictional unemployment exists even in the long run.
D)   frictionally unemployed. Frictional unemployment does not exist in the long run.E) None of the above
F) B) and C)

Question 14

Policies that reduce the time it takes unemployed workers to find new jobs

Accepted Answer

A)   can reduce both frictional unemployment and the natural rate of unemployment.
B)   can reduce frictional unemployment, but they cannot reduce the natural rate of unemployment.
C)   cannot reduce frictional unemployment, but they can reduce the natural rate of unemployment.
D)   cannot reduce either frictional unemployment or the natural rate of unemployment.E) B) and D)
F) B) and C)

Question 15

An increase in the minimum wage

Accepted Answer

A)   reduces structural unemployment.
B)   reduces frictional unemployment,
C)   increases structural unemployment.
D)   increases frictional unemployment.E) B) and D)
F) None of the above

Question 16

The deviation of unemployment from its natural rate is called

Accepted Answer

A)   the economic rate of unemployment.
B)   cyclical unemployment.
C)   frictional unemployment.
D)   structural unemployment.E) B) and D)
F) All of the above

Question 17

Which of the following is correct?

Accepted Answer

A)   The labor-force participation rate of women has increased in part due to smaller families.
B)   The labor-force participation rate of men has decreased in part due to men retiring younger and living longer.
C)   Both a and b are correct.
D)   Neither a nor b is correct.E) A) and B)
F) A) and C)

Question 18

Which of the following is correct?

Accepted Answer

A)   There is consensus among economists that unions are good for the economy.
B)   There is consensus among economists that unions are bad for the economy.
C)   There is consensus among economists that, on net, unions have almost no impact on macroeconomic variables.
D)   There is no consensus among economists about whether unions are good or bad for the economy.E) A) and D)
F) B) and C)

Question 19

If the minimum wage is currently above the equilibrium wage, then a decrease in the minimum wage

Accepted Answer

A)   increases both the quantity demanded and the quantity supplied of labor.
B)   decreases both the quantity demanded and the quantity supplied of labor.
C)   increases the quantity of labor demanded but decreases the quantity of labor supplied.
D)   decreases the quantity of labor demanded but increases the quantity of labor supplied.E) B) and C)
F) A) and B)

Question 20

Suppose that 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) B) and C)
F) A) and C)

Exam 15: Unemployment

Satchel loses his job and immediately begins looking for another. Other things the same, the unemployment rate

Correct AnswerverifiedShow Answer

Collective bargaining refers to

Correct AnswerverifiedShow Answer

If the minimum wage is currently above the equilibrium wage, then a decrease in the minimum wage

Correct AnswerverifiedShow Answer

Sam has no job but keeps applying to get a job with a business that is unionized. He is qualified and he finds the pay attractive, but the firm is not hiring. Sam is

Correct AnswerverifiedShow Answer

The deviation of unemployment from its natural rate is called

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Which of the following is correct?

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How does the government measure the economy's rate of unemployment?

Correct AnswerverifiedThe unemployment rat...View AnswerShow Answer

Efficiency wages create a labor

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Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The unemployment rate of Aridia in 2010 was

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Advocates of government-run employment agencies and public training programs believe they make job search more efficient.

Correct AnswerverifiedShow Answer

Give an historical example of an efficiency wage that was considered by the firm to be "one of the finest cost­ cutting moves we ever made."

Correct AnswerverifiedHenry Ford paid $5 per day to ...View AnswerShow Answer

Policies that reduce the time it takes unemployed workers to find new jobs

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An increase in the minimum wage

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Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 33.3 percent.

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Which of the following is correct?

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Suppose that 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?

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Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia in 2010 was

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Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $8, then employment will decrease by

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Anna recently graduated from college with a degree in electrical engineering, but she has not yet started working. To be counted as "unemployed" she

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Which of the following is not among the four industries with the largest employment in the United States today?

Correct AnswerverifiedShow Answer

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The unemployment rat...
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Give an historical example of an efficiency wage that was considered by the firm to be "one of the finest cost cutting moves we ever made."

Correct Answer
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Henry Ford paid $5 per day to ...
View Answer

Correct Answer
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Correct Answer
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