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

A) True
B) False

Correct Answer

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Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job.

A) True
B) False

Correct Answer

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True

Within the U.S.population,women of prime working age (ages 25-54)have higher rates of unemployment than men of prime working age (ages 25-54),regardless of race.

A) True
B) False

Correct Answer

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verified

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

A) True
B) False

Correct Answer

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Only paid workers are included in the Bureau of Labor Statistics' "employed" category.

A) True
B) False

Correct Answer

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Economists have found that union workers earn about 30 to 40 percent more than similar workers who do not belong to unions.

A) True
B) False

Correct Answer

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verified

False

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job-market related reason for not currently looking for a job.

A) True
B) False

Correct Answer

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verified

For 2015 the U.S.natural rate of unemployment was estimated to be about 4.9 percent,which was close to the actual unemployment rate in 2015.

A) True
B) False

Correct Answer

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It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment.

A) True
B) False

Correct Answer

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

A) True
B) False

Correct Answer

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The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment.

A) True
B) False

Correct Answer

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

A) True
B) False

Correct Answer

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Within the U.S.population,blacks of prime working age (ages 25-54)have higher rates of unemployment than whites of prime working age (ages 25-54),regardless of gender.

A) True
B) False

Correct Answer

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verified

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

A) True
B) False

Correct Answer

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It is best to view the official unemployment rate as a useful but imperfect measure of joblessness.

A) True
B) False

Correct Answer

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

A) True
B) False

Correct Answer

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

A) True
B) False

Correct Answer

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False

Frictional unemployment is often thought to explain relatively long spells of unemployment.

A) True
B) False

Correct Answer

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Today,unions play a larger role in Europe than they do in the U.S.

A) True
B) False

Correct Answer

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Sectoral shifts temporarily cause unemployment.

A) True
B) False

Correct Answer

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Showing 1 - 20 of 221

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