Question 1

Figure 10-1
 
-Refer to Figure 10-1. At the equilibrium wage, how many workers are employed?

Accepted Answer

A)   0
B)   1000
C)   5000
D)   9000E) A) and B)
F) B) and D)

Question 2

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Accepted Answer

A) True 
 B)False

Question 3

The amount of unemployment varies little over time and across countries.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is not a reason economies experience structural unemployment?

Accepted Answer

A)   job search
B)   unions
C)   minimum-wage laws
D)   efficiency wagesE) A) and B)
F) All of the above

Question 5

Table 10-3
2010 Labor Data for Adults (age 16 and older)  in Meditor
 
-Refer to Table 10-3. What is the adult male unemployment rate in Meditor?

Accepted Answer

A)   3.7 percent
B)   5 percent
C)   5.6 percent
D)   5.9 percentE) A) and D)
F) None of the above

Question 6

Within the U.S. population, women have higher rates of unemployment than men.

Accepted Answer

A) True 
 B)False

Question 7

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Japanese adult non-institutionalized population was 110.272 million, the labor force was 65.362 million, and the number of people employed was 62.242 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about

Accepted Answer

A)   56.4% and 2.8%.
B)   56.4% and 4.8%.
C)   59.3% and 2.8%.
D)   59.3% and 4.8%.E) All of the above
F) A) and B)

Question 8

Which of the following is a source of frictional unemployment?

Accepted Answer

A)   changes in the composition of demand among industries or regions
B)   minimum wages
C)   labor unions
D)   None of the above is correct.E) B) and D)
F) All of the above

Question 9

The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity.

Accepted Answer

A) True 
 B)False

Question 10

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is correct?

Accepted Answer

A)   In unionized industries wages are above the level that would prevail in competitive markets.
B)   The introduction of a union in some industry reduces the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and reduces wages in the rest of the economy.
C)   Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
D)   All of the above are correct.E) C) and D)
F) A) and C)

Question 12

When a country keeps its workers as fully employed as possible, it achieves a higher level of GDP than if many of its workers were idle.

Accepted Answer

A) True 
 B)False

Question 13

Efficiency wages

Accepted Answer

A)   create a shortage of labor, and so reduce unemployment.
B)   create a shortage of labor, and so raise unemployment.
C)   create a surplus of labor, and so reduce unemployment.
D)   create a surplus of labor, and so raise unemployment.E) A) and D)
F) C) and D)

Question 14

Sectoral shifts contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 15

Consider two labor markets in which jobs are equally attractive in all respects other than the wage rate. All workers are equally able to do either job. Initially, both labor markets are perfectly competitive. If a union organizes workers in one of the markets, then the wage rates will tend to

Accepted Answer

A)   rise in both markets.
B)   fall in both markets
C)   rise for the union jobs, but remain unchanged for the nonunion jobs.
D)   rise for the union jobs and fall for the nonunion jobs.E) None of the above
F) A) and C)

Question 16

The Bureau of labor statistics divides the adult population into two categorizes, those who are employed and those who are unemployed.

Accepted Answer

A) True 
 B)False

Question 17

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 18

An increase in the minimum wage

Accepted Answer

A)   increases both the quantity demanded and the quantity supplied of labor.
B)   decreases both the quantity demanded and the quantity supplied of labor.
C)   increases the quantity of labor demanded but decreases the quantity of labor supplied.
D)   decreases the quantity of labor demanded but increases the quantity of labor supplied.E) B) and C)
F) A) and B)

Question 19

Retirees are included in the Bureau of Labor Statistics' "not in the labor force" category.

Accepted Answer

A) True 
 B)False

Question 20

According to 2009 data on the U.S. population, which of the following groups of adults (ages 20 and older)  had the lowest labor-force participation rate?

Accepted Answer

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

Exam 10: Unemployment

An increase in the minimum wage

Correct Answer
verified

The amount of unemployment varies little over time and across countries.

Correct Answer
verified

The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity.

Correct Answer
verified

Correct Answer
verified

According to 2009 data on the U.S. population, which of the following groups of adults (ages 20 and older) had the lowest labor-force participation rate?

Correct Answer
verified

Figure 10-1 -Refer to Figure 10-1. At the equilibrium wage, how many workers are employed?

Correct Answer
verified

Table 10-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 10-3. What is the adult male unemployment rate in Meditor?

Correct Answer
verified

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Correct Answer
verified

Within the U.S. population, women have higher rates of unemployment than men.

Correct Answer
verified

When a country keeps its workers as fully employed as possible, it achieves a higher level of GDP than if many of its workers were idle.

Correct Answer
verified

Which of the following is not a reason economies experience structural unemployment?

Correct Answer
verified

Efficiency wages

Correct Answer
verified

Which of the following is correct?

Correct Answer
verified

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Correct Answer
verified

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Correct Answer
verified

Retirees are included in the Bureau of Labor Statistics' "not in the labor force" category.

Correct Answer
verified

The Bureau of labor statistics divides the adult population into two categorizes, those who are employed and those who are unemployed.

Correct Answer
verified

Sectoral shifts contribute to frictional unemployment.

Correct Answer
verified

Consider two labor markets in which jobs are equally attractive in all respects other than the wage rate. All workers are equally able to do either job. Initially, both labor markets are perfectly competitive. If a union organizes workers in one of the markets, then the wage rates will tend to

Correct Answer
verified

Which of the following is a source of frictional unemployment?

Correct Answer
verified

Exam 10: Unemployment

An increase in the minimum wage

Correct AnswerverifiedShow Answer

The amount of unemployment varies little over time and across countries.

Correct AnswerverifiedShow Answer

The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to 2009 data on the U.S. population, which of the following groups of adults (ages 20 and older) had the lowest labor-force participation rate?

Correct AnswerverifiedShow Answer

Figure 10-1 -Refer to Figure 10-1. At the equilibrium wage, how many workers are employed?

Correct AnswerverifiedShow Answer

Table 10-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 10-3. What is the adult male unemployment rate in Meditor?

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Correct AnswerverifiedShow Answer

Within the U.S. population, women have higher rates of unemployment than men.

Correct AnswerverifiedShow Answer

When a country keeps its workers as fully employed as possible, it achieves a higher level of GDP than if many of its workers were idle.

Correct AnswerverifiedShow Answer

Which of the following is not a reason economies experience structural unemployment?

Correct AnswerverifiedShow Answer

Efficiency wages

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Correct AnswerverifiedShow Answer

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment.

Correct AnswerverifiedShow Answer

Retirees are included in the Bureau of Labor Statistics' "not in the labor force" category.

Correct AnswerverifiedShow Answer

The Bureau of labor statistics divides the adult population into two categorizes, those who are employed and those who are unemployed.

Correct AnswerverifiedShow Answer

Sectoral shifts contribute to frictional unemployment.

Correct AnswerverifiedShow Answer

Consider two labor markets in which jobs are equally attractive in all respects other than the wage rate. All workers are equally able to do either job. Initially, both labor markets are perfectly competitive. If a union organizes workers in one of the markets, then the wage rates will tend to

Correct AnswerverifiedShow Answer

Which of the following is a source of frictional unemployment?

Correct AnswerverifiedShow Answer

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