Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Compare the 2012 unemployment rates and labor-force participation rates of whites, blacks, adults of prime working age ages 25-54), and teenagers ages 16-19).

Accepted Answer

For adults:
Adult white men have the hig...

Question 3

The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate.

Accepted Answer

A) True 
 B)False

Question 4

The labor force minus the number of employed equals the number of unemployed.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is the correct formula for calculating the unemployment rate?

Accepted Answer

A)   
B)   
C)   
D)   E) A) and C)
F) B) and D)

Question 6

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey.

Accepted Answer

A) True 
 B)False

Question 7

Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A)   0 workers.
B)   2,000 workers.
C)   4,000 workers.
D)   7,000 workers.E) All of the above
F) None of the above

Question 9

According to the theory of efficiency wages, it may be profitable for firms to keep wages high even in the presence of a surplus of labor.

Accepted Answer

A) True 
 B)False

Question 10

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

Question 11

A firm may pay efficiency wages in an attempt to

Accepted Answer

A)   entice workers to work the night shift rather than the day shift.
B)   improve productivity by reducing turnover.
C)   reduce costs by attracting the least-skilled workers to apply for job vacancies.
D)   All of the above are correct.E) A) and D)
F) A) and B)

Question 12

The unemployed who quit their jobs, were fired for cause, or just entered the labor force are not eligible for unemployment insurance.

Accepted Answer

A) True 
 B)False

Question 13

The introduction of a union into a firm benefits all of that firm's workers.

Accepted Answer

A) True 
 B)False

Question 14

Public policy can reduce frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 15

The Bureau of Labor Statistics' U­5 measure of joblessness includes marginally attached workers.

Accepted Answer

A) True 
 B)False

Question 16

In June 2009 the Bureau of Labor Statistics reported an adult population of 234.9 million, unemployment of 12.4 million, and employment of 141.6 million. Based on these numbers the labor-force participation rate was

Accepted Answer

A)   154/234.9.
B)   141.6/234.9.
C)   141.6/154.
D)   None of the above is correct.E) C) and D)
F) None of the above

Question 17

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%E) B) and C)
F) A) and D)

Question 18

Figure 28-3 
-Refer to Figure 28-3. If the government imposes a minimum wage of $8, then how many workers will be unemployed?

Accepted Answer

A)   0
B)   3,000
C)   4,000
D)   7,000E) A) and B)
F) A) and C)

Question 19

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.E) B) and C)
F) A) and B)

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

According to the theory of efficiency wages, it may be profitable for firms to keep wages high even in the presence of a surplus of labor.

Correct AnswerverifiedShow Answer

Compare the 2012 unemployment rates and labor-force participation rates of whites, blacks, adults of prime working age ages 25-54), and teenagers ages 16-19).

Correct AnswerverifiedFor adults:Adult white men have the hig...View AnswerShow Answer

The unemployed who quit their jobs, were fired for cause, or just entered the labor force are not eligible for unemployment insurance.

Correct AnswerverifiedShow Answer

In June 2009 the Bureau of Labor Statistics reported an adult population of 234.9 million, unemployment of 12.4 million, and employment of 141.6 million. Based on these numbers the labor-force participation rate was

Correct AnswerverifiedShow Answer

Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Correct AnswerverifiedShow Answer

The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate.

Correct AnswerverifiedShow Answer

An increase in the minimum wage

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey.

Correct AnswerverifiedShow Answer

A firm may pay efficiency wages in an attempt to

Correct AnswerverifiedShow Answer

The introduction of a union into a firm benefits all of that firm's workers.

Correct AnswerverifiedShow Answer

The labor force minus the number of employed equals the number of unemployed.

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Public policy can reduce frictional unemployment.

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

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

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Figure 28-3 -Refer to Figure 28-3. If the government imposes a minimum wage of $8, then how many workers will be unemployed?

Correct AnswerverifiedShow Answer

Which of the following is the correct formula for calculating the unemployment rate?

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

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The Bureau of Labor Statistics' U­5 measure of joblessness includes marginally attached workers.

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For adults:
Adult white men have the hig...
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The Bureau of Labor Statistics' U5 measure of joblessness includes marginally attached workers.

Correct Answer
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