Question 1

Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

Accepted Answer

A)   Both the first and the second fact tend to make the reported unemployment rate lower than the actual unemployment rate.
B)   Both the first and the second fact tend to make the reported unemployment rate higher than the actual unemployment rate.
C)   The first fact tends to make the reported unemployment rate higher than the actual unemployment rate,while the second fact tends to make the reported unemployment rate lower than the actual unemployment rate.
D)   The first fact tends to make the reported unemployment rate lower than the actual unemployment rate,while the second fact tends to make the reported unemployment rate higher than the actual unemployment rate.E) None of the above
F) All of the above

Question 2

Economists have found that union workers earn what percent more than similar nonunion workers?

Accepted Answer

A)   0 to 5
B)   5 to 10
C)   10 to 20
D)   20 to 30E) C) and D)
F) None of the above

Question 3

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A)   only Adelina
B)   only Odilon
C)   both Adelina and Odilon
D)   neither Adelina nor OdilonE) B) and C)
F) C) and D)

Question 5

In an ideal labor market,wages would adjust to balance the quantity of labor supplied and the quantity of labor demanded,ensuring that all workers are always fully employed.

Accepted Answer

A) True 
 B)False

Question 6

The natural rate of unemployment is constant over time.

Accepted Answer

A) True 
 B)False

Question 7

Unions

Accepted Answer

A)   do not affect the natural rate of unemployment.
B)   lower the wages of unionized workers.
C)   raise the profits of unionized firms.
D)   lower the wages of nonunionized workers.E) A) and B)
F) All of the above

Question 8

Table 28-1
Labor Data for Wrexington
 
-Refer to Table 28-1.The labor-force participation rate of Wrexington

Accepted Answer

A)   increased from 2004 to 2005 and increased from 2005 to 2006.
B)   increased from 2004 to 2005 and decreased from 2005 to 2006.
C)   decreased from 2004 to 2005 and increased from 2005 to 2006.
D)   decreased from 2004 to 2005 and decreased from 2005 to 2006.E) B) and D)
F) All of the above

Question 9

Which of the following is not correct?

Accepted Answer

A)   A union is a worker association that bargains with employers over wages,benefits,and working conditions.
B)   Unions play a much larger role in the U.S.labor market now than they did in the past.
C)   Unions play a large role in many European countries.
D)   A union is a type of cartel.E) C) and D)
F) B) and D)

Question 10

Since 1960,the natural rate of unemployment in the U.S.has been between

Accepted Answer

A)   0.4 and 0.6 percent.
B)   4 and 6 percent.
C)   14 and 16 percent.
D)   40 and 60 percent.E) None of the above
F) All of the above

Question 11

Changes in the composition of demand among industries or regions are called sectoral shifts.

Accepted Answer

A) True 
 B)False

Question 12

According to 2007 data on the U.S.population,which of the following groups of teenagers (ages 16-19) has the lowest unemployment rate?

Accepted Answer

A)   white males
B)   white females
C)   black males
D)   black femalesE) A) and D)
F) B) and C)

Question 13

Data on the unemployment rate in the U.S.since 1960 show that the unemployment rate is

Accepted Answer

A)   always zero.
B)   sometimes zero.
C)   rarely zero.
D)   never zero.E) None of the above
F) B) and D)

Question 14

Some of a firm's workers are made worse off by the introduction of a union.

Accepted Answer

A) True 
 B)False

Question 15

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

Question 16

The Bureau of Labor Statistics reported in 2005 that there were 28.19 million people over age 25 who had no high school degree or its equivalent,11.73 million of whom were employed and 1.04 million of whom were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A)   41.6% and 3.7%
B)   41.6% and 8.1%
C)   45.3% and 3.7%
D)   45.3% and 8.1%E) B) and C)
F) C) and D)

Question 17

The Bureau of Labor Statistics produces data on unemployment

Accepted Answer

A)   weekly.
B)   monthly.
C)   quarterly.
D)   yearly.E) All of the above
F) C) and D)

Question 18

Unemployment insurance increases frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 19

The natural rate of unemployment

Accepted Answer

A)   is the economy's desirable level of unemployment.
B)   cannot be affected by economic policy.
C)   Both (a) and (b) are correct.
D)   None of the above is correct.E) A) and B)
F) None of the above

Question 20

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

Correct Answer
verified

The Bureau of Labor Statistics produces data on unemployment

Correct Answer
verified

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Correct Answer
verified

According to 2007 data on the U.S.population,which of the following groups of teenagers (ages 16-19) has the lowest unemployment rate?

Correct Answer
verified

Unemployment insurance increases frictional unemployment.

Correct Answer
verified

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The labor-force participation rate of Wrexington

Correct Answer
verified

Data on the unemployment rate in the U.S.since 1960 show that the unemployment rate is

Correct Answer
verified

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

In an ideal labor market,wages would adjust to balance the quantity of labor supplied and the quantity of labor demanded,ensuring that all workers are always fully employed.

Correct Answer
verified

Economists have found that union workers earn what percent more than similar nonunion workers?

Correct Answer
verified

The natural rate of unemployment is constant over time.

Correct Answer
verified

Which of the following is not correct?

Correct Answer
verified

The natural rate of unemployment

Correct Answer
verified

Which of the following is correct?

Correct Answer
verified

Some of a firm's workers are made worse off by the introduction of a union.

Correct Answer
verified

Changes in the composition of demand among industries or regions are called sectoral shifts.

Correct Answer
verified

Since 1960,the natural rate of unemployment in the U.S.has been between

Correct Answer
verified

Unions

Correct Answer
verified

Exam 28: Unemployment

Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment

Correct AnswerverifiedShow Answer

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Correct AnswerverifiedShow Answer

According to 2007 data on the U.S.population,which of the following groups of teenagers (ages 16-19) has the lowest unemployment rate?

Correct AnswerverifiedShow Answer

Unemployment insurance increases frictional unemployment.

Correct AnswerverifiedShow Answer

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The labor-force participation rate of Wrexington

Correct AnswerverifiedShow Answer

Data on the unemployment rate in the U.S.since 1960 show that the unemployment rate is

Correct AnswerverifiedShow Answer

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In an ideal labor market,wages would adjust to balance the quantity of labor supplied and the quantity of labor demanded,ensuring that all workers are always fully employed.

Correct AnswerverifiedShow Answer

Economists have found that union workers earn what percent more than similar nonunion workers?

Correct AnswerverifiedShow Answer

The natural rate of unemployment is constant over time.

Correct AnswerverifiedShow Answer

Which of the following is not correct?

Correct AnswerverifiedShow Answer

The natural rate of unemployment

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Some of a firm's workers are made worse off by the introduction of a union.

Correct AnswerverifiedShow Answer

Changes in the composition of demand among industries or regions are called sectoral shifts.

Correct AnswerverifiedShow Answer

Since 1960,the natural rate of unemployment in the U.S.has been between

Correct AnswerverifiedShow Answer

Unions

Correct AnswerverifiedShow Answer

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