Question 1

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 2

About what percentage of jobs are destroyed every year and about what percentage of workers leave their jobs in a typical month?

Accepted Answer

A)   1% and 5%
B)   5% and 1%
C)   3% and 10%
D)   10% and 3%E) A) and B)
F) A) and D)

Question 3

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 4 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) B) and C)
F) All of the above

Question 4

Jenna is searching for a job that suits her tastes about where to live.Mary is looking for a job that makes best use of her skills.

Accepted Answer

A)   Jenna and Mary are both frictionally unemployed.
B)   Jenna and Mary are both structurally unemployed.
C)   Jenna is frictionally unemployed,and Mary is structurally unemployed.
D)   Jenna is structurally unemployed,and Mary is frictionally unemployed.E) A) and B)
F) C) and D)

Question 5

When a union is present in a labor market,wages are not determined by the equilibrium of supply and demand.

Accepted Answer

A) True 
 B)False

Question 6

Jill does not currently have a job,but has applied for several jobs in the previous week.Ken is an unpaid stay-at-home dad who has not searched for work in recent years.Who does the BLS count as out of the labor force?

Accepted Answer

A)   Jill but not Ken
B)   Ken but not Jill
C)   Jill and Ken
D)   neither Jill nor KenE) C) and D)
F) A) and B)

Question 7

Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months.Other things the same,the unemployment rate

Accepted Answer

A)   increases and the labor-force participation rate decreases.
B)   increases and the labor-force participation rate is unaffected.
C)   is unaffected and the labor-force participation rate decreases.
D)   and the labor-force participation rate are both unaffected.E) B) and D)
F) B) and C)

Question 8

Adults who are waiting to be recalled to a job from which they had been laid off are counted as unemployed.

Accepted Answer

A) True 
 B)False

Question 9

Danielle did not work last week because flooding forced an evacuation of her workplace.The Bureau of Labor Statistics counts Danielle 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) A) and D)
F) A) and C)

Question 10

Table 20-3
2010 Labor Data for Adults (age 16 and older) in Meditor
 
-Refer to Table 20-3.What is the adult female labor-force participation rate in Meditor?

Accepted Answer

A)   38.1 percent
B)   61.9 percent
C)   66.7 percent
D)   95.2 percentE) A) and B)
F) A) and C)

Question 11

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Accepted Answer

A)   those unemployed relative to those employed.
B)   the labor force that is unemployed.
C)   the adult population that is unemployed.
D)   the adult population that is unemployed or not in the labor force.E) B) and C)
F) C) and D)

Question 12

Table 20-2
2009 Labor Data for Baltivia
 
-Refer to Table 20-2.What was Baltivia's unemployment rate in 2009?

Accepted Answer

A)   8.0 percent
B)   12.7 percent
C)   15.9 percent
D)   22.1 percentE) A) and C)
F) A) and D)

Question 13

Some persons are counted as out of the labor force because they have made no serious or recent effort to look for work.However,some of these individuals may want to work even though they are too discouraged to make a serious effort to look for work.If these individuals were counted as unemployed instead of out of the labor force,then

Accepted Answer

A)   both the unemployment rate and labor-force participation rate would be higher.
B)   the unemployment rate would be higher and the labor-force participation rate would be lower.
C)   the unemployment rate would be lower and the labor-force participation rate would be higher.
D)   both the unemployment rate and labor-force participation rate would be lower.E) All of the above
F) A) and B)

Question 14

Some degree of unemployment is inevitable in a complex economy.

Accepted Answer

A) True 
 B)False

Question 15

Workers searching for jobs that best suit them is most closely associated with

Accepted Answer

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

Question 16

If the wage is kept above the equilibrium level because of minimum-wage laws,then the result is unemployment; if the wage is kept above the equilibrium level for some other reason,the result need not be unemployment.

Accepted Answer

A) True 
 B)False

Question 17

Minimum wages are the predominant reason for unemployment in the U.S.economy.

Accepted Answer

A) True 
 B)False

Question 18

Who is not included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   Calvin,who is on temporary layoff
B)   Michael,who has retired and is not looking for work
C)   Lauren,who does not have a job,but has applied for several in the last week
D)   None of the above is correct.E) A) and D)
F) B) and D)

Question 19

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

Question 20

Some adults who were not working are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

Table 20-2 2009 Labor Data for Baltivia -Refer to Table 20-2.What was Baltivia's unemployment rate in 2009?

Correct Answer
verified

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Correct Answer
verified

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Correct Answer
verified

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

Correct Answer
verified

Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months.Other things the same,the unemployment rate

Correct Answer
verified

Who is not included in the labor force by the Bureau of Labor Statistics?

Correct Answer
verified

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

Correct Answer
verified

Workers searching for jobs that best suit them is most closely associated with

Correct Answer
verified

Table 20-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 20-3.What is the adult female labor-force participation rate in Meditor?

Correct Answer
verified

Jenna is searching for a job that suits her tastes about where to live.Mary is looking for a job that makes best use of her skills.

Correct Answer
verified

Some degree of unemployment is inevitable in a complex economy.

Correct Answer
verified

Some adults who were not working are included in the Bureau of Labor Statistics' "employed" category.

Correct Answer
verified

If the wage is kept above the equilibrium level because of minimum-wage laws,then the result is unemployment; if the wage is kept above the equilibrium level for some other reason,the result need not be unemployment.

Correct Answer
verified

Jill does not currently have a job,but has applied for several jobs in the previous week.Ken is an unpaid stay-at-home dad who has not searched for work in recent years.Who does the BLS count as out of the labor force?

Correct Answer
verified

Correct Answer
verified

When a union is present in a labor market,wages are not determined by the equilibrium of supply and demand.

Correct Answer
verified

About what percentage of jobs are destroyed every year and about what percentage of workers leave their jobs in a typical month?

Correct Answer
verified

Adults who are waiting to be recalled to a job from which they had been laid off are counted as unemployed.

Correct Answer
verified

Danielle did not work last week because flooding forced an evacuation of her workplace.The Bureau of Labor Statistics counts Danielle as

Correct Answer
verified

Minimum wages are the predominant reason for unemployment in the U.S.economy.

Correct Answer
verified

Exam 20: Unemployment

Table 20-2 2009 Labor Data for Baltivia -Refer to Table 20-2.What was Baltivia's unemployment rate in 2009?

Correct AnswerverifiedShow Answer

There is no easy way for policymakers to reduce the economy's natural rate of unemployment.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics defines the unemployment rate as the percentage of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months.Other things the same,the unemployment rate

Correct AnswerverifiedShow Answer

Who is not included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Workers searching for jobs that best suit them is most closely associated with

Correct AnswerverifiedShow Answer

Table 20-3 2010 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 20-3.What is the adult female labor-force participation rate in Meditor?

Correct AnswerverifiedShow Answer

Jenna is searching for a job that suits her tastes about where to live.Mary is looking for a job that makes best use of her skills.

Correct AnswerverifiedShow Answer

Some degree of unemployment is inevitable in a complex economy.

Correct AnswerverifiedShow Answer

Some adults who were not working are included in the Bureau of Labor Statistics' "employed" category.

Correct AnswerverifiedShow Answer

If the wage is kept above the equilibrium level because of minimum-wage laws,then the result is unemployment; if the wage is kept above the equilibrium level for some other reason,the result need not be unemployment.

Correct AnswerverifiedShow Answer

Jill does not currently have a job,but has applied for several jobs in the previous week.Ken is an unpaid stay-at-home dad who has not searched for work in recent years.Who does the BLS count as out of the labor force?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When a union is present in a labor market,wages are not determined by the equilibrium of supply and demand.

Correct AnswerverifiedShow Answer

About what percentage of jobs are destroyed every year and about what percentage of workers leave their jobs in a typical month?

Correct AnswerverifiedShow Answer

Adults who are waiting to be recalled to a job from which they had been laid off are counted as unemployed.

Correct AnswerverifiedShow Answer

Danielle did not work last week because flooding forced an evacuation of her workplace.The Bureau of Labor Statistics counts Danielle as

Correct AnswerverifiedShow Answer

Minimum wages are the predominant reason for unemployment in the U.S.economy.

Correct AnswerverifiedShow Answer

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