Question 1

When a union raises the wage above the equilibrium level, it

Accepted Answer

A)  reduces both the quantity of labor supplied and the quantity of labor demanded.
B)  reduces the quantity of labor supplied and raises the quantity of labor demanded.
C)  raises the quantity of labor supplied and reduces the quantity of labor demanded.
D)  raises both the quantity of labor supplied and the quantity of labor demanded.E) B) and D)
F) A) and B)

Question 2

If there were no factors keeping wages from reaching equilibrium then there would be no

Accepted Answer

A)  cyclical unemployment.
B)  frictional unemployment.
C)  structural unemployment.
D)  natural rate of unemployment.E) A) and C)
F) C) and D)

Question 3

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) All of the above

Question 4

Three employers have justified their actions as follows. Whose logic is not consistent with the logic of efficiency wage theory?

Accepted Answer

A)  Instead of spending money on an electronic timing system that monitors worker hours, Tom spends an equivalent amount of money on higher wages.
B)  Dick pays his workers less than the equilibrium wage so that they will not have the time or money to look for work somewhere else.
C)  Harry pays his workers in a developing country more than the going wage hoping that they will get a better diet and so be more productive.
D)  None of the above is consistent with the logic of efficiency wage theory.E) A) and D)
F) A) and C)

Question 5

People who are unemployed because of job search are best classified as

Accepted Answer

A)  cyclically unemployed.
B)  structurally unemployed.
C)  frictionally unemployed.
D)  discouraged workers.E) A) and C)
F) All of the above

Question 6

Who of the following would necessarily be included in the Bureau of Labor Statistics' "unemployed" category?

Accepted Answer

A)  Huey, who did not work during the previous four weeks
B)  Dewey, who tried to find new employment during the previous four weeks
C)  Louie, who was an unpaid worker during the previous four weeks
D)  None of the above is correct.E) None of the above
F) All of the above

Question 7

The Bureau of Labor Statistics places people in the "employed" category if they

Accepted Answer

A)  are without a job, but are available for work and have tried to find a job during the previous four weeks.
B)  work without pay in a family member's business.
C)  are waiting to be recalled to a job from which they had been laid off.
D)  All of the above are correct.E) C) and D)
F) A) and D)

Question 8

Spells of unemployment end about

Accepted Answer

A)  1/5 of the time with the person leaving the labor force.
B)  1/4 of the time with the person leaving the labor force.
C)  1/3 of the time with the person leaving the labor force.
D)  1/2 of the time with the person leaving the labor force.E) A) and B)
F) C) and D)

Question 9

Which of the following is correct?

Accepted Answer

A)  The amount of unemployment that a country typically experiences is a determinant of that country's standard of living, and some degree of unemployment is inevitable in a complex economy.
B)  The amount of unemployment that a country typically experiences is a determinant of that country's standard of living, and a complex economy can achieve zero unemployment.
C)  The amount of unemployment that a country typically experiences is not a determinant of that country's standard of living, and a complex economy can achieve zero unemployment.
D)  The amount of unemployment that a country typically experiences is not a determinant of that country's standard of living, and some degree of unemployment is inevitable in a complex economy.E) C) and D)
F) A) and C)

Question 10

Maury did not work last week because fire forced an evacuation of his workplace. The Bureau of Labor Statistics counts Maury as

Accepted Answer

A)  unemployed and in the labor force.
B)  unemployed and not in the labor force.
C)  employed and in the labor force.
D)  employed and not in the labor force.E) C) and D)
F) A) and D)

Question 11

Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

Accepted Answer

A)  rise. The supply of workers in other similar professions will also rise.
B)  rise. The supply of workers in other similar professions will fall.
C)  fall. The supply of workers in other similar professions will rise.
D)  fall. The supply of workers in other similar professions will also fall.E) None of the above
F) A) and D)

Question 12

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Accepted Answer

A)  be available for work.
B)  have tried to find employment during the previous week.
C)  have previously been employed.
D)  All of the above are correct.E) A) and B)
F) A) and C)

Question 13

Table 28-2
Labor Data for Aridia 
-Refer to Table 28-2. The number of adults not in the labor force of Aridia

Accepted Answer

A)  increased both from 2010 to 2011 and from 2011 to 2012.
B)  increased from 2010 to 2011 but decreased from 2011 to 2012.
C)  decreased from 2010 to 2011 but increased from 2011 to 2012.
D)  decreased both from 2010 to 2011 and from 2011 to 2012.E) A) and C)
F) C) and D)

Question 14

Table 28-10
The table below lists the number of people by labor force classification for the country of Springfield. 
-Refer to Table 28-10. Calculate the U-5 unemployment rate.

Accepted Answer

The answer of Table 28-10
The table below lists the number...

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 male population in Meditor?

Accepted Answer

A)  50 million
B)  90 million
C)  130 million
D)  135 millionE) None of the above
F) B) and C)

Question 16

If the wage is kept above the equilibrium wage for any reason, the result is

Accepted Answer

A)  cyclical unemployment.
B)  frictional unemployment.
C)  seasonal unemployment.
D)  structural unemployment.E) A) and B)
F) None of the above

Question 17

Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a

Accepted Answer

A)  higher unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be higher.
B)  higher unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment.
C)  lower unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be lower.
D)  lower unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment.E) A) and B)
F) A) and C)

Question 18

Explain the effect of right-to-work laws on the collective bargaining power of labor unions.

Accepted Answer

Right-to-work laws decrease th...

Question 19

According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?​

Accepted Answer

A)  Black females had higher labor-force participation rates and lower unemployment rates compared to white females.
B)  Black females had similar labor-force participation rates and higher unemployment rates compared to white females.
C)  Black females had both lower labor-force participation rates and lower unemployment rates compared to white females.
D)  Black females had lower labor-force participation rates and higher unemployment rates compared to white females.E) B) and C)
F) None of the above

Question 20

Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually increased.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment and Its Natural Rate

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

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Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually increased.

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Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The number of adults not in the labor force of Aridia

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According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?​

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Three employers have justified their actions as follows. Whose logic is not consistent with the logic of efficiency wage theory?

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If there were no factors keeping wages from reaching equilibrium then there would be no

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Table 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult male population in Meditor?

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People who are unemployed because of job search are best classified as

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When a union raises the wage above the equilibrium level, it

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Suppose that college professors at public universities are unionized. If public university college professors change their minds and vote not to be unionized, the quantity of public university college professors demanded will

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Which of the following is correct?

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Maury did not work last week because fire forced an evacuation of his workplace. The Bureau of Labor Statistics counts Maury as

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Spells of unemployment end about

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Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a

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Explain the effect of right-to-work laws on the collective bargaining power of labor unions.

Correct AnswerverifiedRight-to-work laws decrease th...View AnswerShow Answer

Which of the following is correct?

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If the wage is kept above the equilibrium wage for any reason, the result is

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Who of the following would necessarily be included in the Bureau of Labor Statistics' "unemployed" category?

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The Bureau of Labor Statistics places people in the "employed" category if they

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Table 28-10 The table below lists the number of people by labor force classification for the country of Springfield. -Refer to Table 28-10. Calculate the U-5 unemployment rate.

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According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?

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Right-to-work laws decrease th...
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