Question 1

Within the U.S. population, teenagers (ages 16-19) have higher rates of unemployment than adults of prime working age (ages 25-54), regardless of race or gender.

Accepted Answer

A) True 
 B)False

Question 2

A firm might offer efficiency wages in order to attract a better pool of applicants.

Accepted Answer

A) True 
 B)False

Question 3

Unions are exempt from U.S. antitrust laws.

Accepted Answer

A) True 
 B)False

Question 4

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Accepted Answer

A) True 
 B)False

Question 5

More generous unemployment insurance would

Accepted Answer

A)   raise structural unemployment.
B)   raise frictional unemployment.
C)   lower structural unemployment.
D)   lower frictional unemployment.

Question 6

Every adult who was not employed during the previous four weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Accepted Answer

A) True 
 B)False

Question 7

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 8

Efficiency wages, minimum-wage laws, and unions all keep wages

Accepted Answer

A)   below the equilibrium level, causing a shortage of labor.
B)   below the equilibrium level, causing a surplus of labor.
C)   above the equilibrium level, causing a shortage of labor.
D)   above the equilibrium level, causing a surplus of labor.

Question 9

The deviation of unemployment from its natural rate is called

Accepted Answer

A)   the normal rate of unemployment.
B)   deviant unemployment.
C)   cyclical unemployment.
D)   fluctuating unemployment.

Question 10

Table 28-6 
-Refer to Table 28-6. What is the U-1 measure of labor underutilization?

Accepted Answer

A)   1.6%
B)   3.1%
C)   6.2%
D)   7.0%

Question 11

Who in the adult population is counted as "employed" in U.S. labor statistics?

Accepted Answer

A)   people who are temporarily absent from their job and people who work without pay in a family member's business
B)   people who are temporarily absent from their job but not people who work without pay in a family member's business
C)   people who work without pay in a family member's business but not people who are temporarily absent from their job
D)   neither people who are temporarily absent from their job nor people who work without pay in a family member's business

Question 12

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 13

Most economists agree that eliminating unemployment insurance would increase the amount of unemployment in the economy.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following was not among the four industries with the largest employment in the United States a century ago?

Accepted Answer

A)   cotton goods
B)   men's clothing
C)   meat packing
D)   lumber

Question 15

Table 28-4
2010 Labor Data for Adults (ages 16 and older)  in Meditor 
-Refer to Table 28-4. What is the adult unemployment rate in Meditor?
A)  4.2%

Accepted Answer

A)   6.25%
B)   6.7%
C)   10%

Question 16

The Internet my reduce frictional unemployment because it .

Accepted Answer

reduces the search c...

Question 17

When a union bargains successfully with employers, in that industry,

Accepted Answer

A)   both the quantity of labor supplied and the quantity of labor demanded increase.
B)   both the quantity of labor supplied and the quantity of labor demanded decrease.
C)   the quantity of labor supplied increases and the quantity of labor demanded decreases.
D)   the quantity of labor demanded increases and the quantity of labor supplied decreases.

Question 18

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.

Question 19

Olga owns her own business. Sven is an unpaid worker in his family's business. Who is included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)   only Olga
B)   only Sven
C)   both Olga and Sven
D)   neither Olga nor Sven

Question 20

Which of the following is correct?

Accepted Answer

A)   Unemployment insurance raises structural unemployment because it reduces the job search efforts of the unemployed.
B)   Most economists are skeptical of the value of unemployment insurance primarily because they believe that it results in a poorer match between workers and jobs.
C)   Studies show that when the unemployed become ineligible for benefits, the probability of their finding a job rises markedly.
D)   All of the above are correct.

Exam 28: Unemployment

Which of the following is correct?

Correct AnswerverifiedShow Answer

When a union bargains successfully with employers, in that industry,

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Who in the adult population is counted as "employed" in U.S. labor statistics?

Correct AnswerverifiedShow Answer

Which of the following was not among the four industries with the largest employment in the United States a century ago?

Correct AnswerverifiedShow Answer

Most economists agree that eliminating unemployment insurance would increase the amount of unemployment in the economy.

Correct AnswerverifiedShow Answer

Frictional unemployment is often the result of changes in the demand for labor among different firms.

Correct AnswerverifiedShow Answer

Olga owns her own business. Sven is an unpaid worker in his family's business. Who is included in the Bureau of Labor Statistics' "employed" category?

Correct AnswerverifiedShow Answer

Unions are exempt from U.S. antitrust laws.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Internet my reduce frictional unemployment because it .

Correct Answerverifiedreduces the search c...View AnswerShow Answer

Efficiency wages, minimum-wage laws, and unions all keep wages

Correct AnswerverifiedShow Answer

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment.

Correct AnswerverifiedShow Answer

The deviation of unemployment from its natural rate is called

Correct AnswerverifiedShow Answer

Within the U.S. population, teenagers (ages 16-19) have higher rates of unemployment than adults of prime working age (ages 25-54), regardless of race or gender.

Correct AnswerverifiedShow Answer

Table 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult unemployment rate in Meditor? A) 4.2%

Correct AnswerverifiedShow Answer

Table 28-6 -Refer to Table 28-6. What is the U-1 measure of labor underutilization?

Correct AnswerverifiedShow Answer

More generous unemployment insurance would

Correct AnswerverifiedShow Answer

Every adult who was not employed during the previous four weeks is included in the Bureau of Labor Statistics' "unemployed" category.

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages in order to attract a better pool of applicants.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
reduces the search c...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified