Question 1

In June 2009 the BLS reported an adult population of 234.9 million,unemployment of 12.4 million,and employment of 141.6 million.Based on these numbers the labor-force participation rate was

Accepted Answer

A)   154/234.9.
B)   141.6/234.9.
C)   141.6/154.
D)   None of the above are correct.E) A) and D)
F) None of the above

Question 2

Causes of the decline in the U.S.men's labor-force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did,older men now retiring earlier and living longer,and more fathers now staying at home to raise their children.

Accepted Answer

A) True 
 B)False

Question 3

Since the 1940's U.S.union membership has

Accepted Answer

A)   fallen.This decline should have reduced structural unemployment.
B)   fallen.This decline should not have reduced structural unemployment.
C)   risen.This increase should have raised structural unemployment.
D)   risen.This increase should not have raised structural unemployment.E) None of the above
F) A) and B)

Question 4

Efficiency wages

Accepted Answer

A)   increase productivity and reduce unemployment.
B)   increase productivity but increase unemployment.
C)   decrease productivity but reduce unemployment.
D)   decrease productivity and increase unemployment.E) None of the above
F) B) and D)

Question 5

Table 20-1
Labor Data for Aridia
 
-Refer to Table 20-1.The labor-force participation rate of Aridia

Accepted Answer

A)   increased from 2010 to 2011 and increased from 2011 to 2012.
B)   increased from 2010 to 2011 and decreased from 2011 to 2012.
C)   decreased from 2010 to 2011 and increased from 2011 to 2012.
D)   decreased from 2010 to 2011 and decreased from 2011 to 2012.E) None of the above
F) A) and B)

Question 6

Efficiency wages contribute to

Accepted Answer

A)   frictional unemployment and the natural rate of unemployment.
B)   frictional unemployment but not the natural rate of unemployment.
C)   structural unemployment and the natural rate of unemployment.
D)   structural unemployment but not the natural rate of unemployment.E) B) and C)
F) All of the above

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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 9

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households,called the Current Population Survey.

Accepted Answer

A) True 
 B)False

Question 10

Within the U.S.population,women ages 20 and older have similar rates of labor-force participation as men.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A)   40 million
B)   70 million
C)   100 million
D)   105 millionE) A) and D)
F) C) and D)

Question 13

When a union raises the wage above the equilibrium level,

Accepted Answer

A)   the quantity of labor supplied and unemployment both rise.
B)   the quantity of labor supplied and unemployment both fall.
C)   the quantity of labor supplied rises and unemployment falls.
D)   the quantity of labor supplied falls and unemployment rises.E) A) and C)
F) C) and D)

Question 14

The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries.

Accepted Answer

A) True 
 B)False

Question 15

Like any cartel,a union is a group of sellers acting together in the hope of exerting their joint market power.

Accepted Answer

A) True 
 B)False

Question 16

When a minimum-wage law forces the wage to remain above the level that balances supply and demand,it

Accepted Answer

A)   raises the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level.
B)   raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
C)   reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level.
D)   reduces the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.E) None of the above
F) A) and B)

Question 17

According to the theory of efficiency wages,it may be profitable for firms to keep wages high even in the presence of a surplus of labor.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

Accepted Answer

A) True 
 B)False

Question 20

Frictional unemployment is inevitable because

Accepted Answer

A)   sectoral shifts are always happening.
B)   there is a federal minimum-wage law in the U.S.
C)   some people do not want to be employed.
D)   unions are very popular in the U.S.E) C) and D)
F) B) and C)

Exam 20: Unemployment

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

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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.

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The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries.

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Since the 1940's U.S.union membership has

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

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

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

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Within the U.S.population,women ages 20 and older have similar rates of labor-force participation as men.

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When a union raises the wage above the equilibrium level,

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Efficiency wages

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According to the theory of efficiency wages,it may be profitable for firms to keep wages high even in the presence of a surplus of labor.

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Like any cartel,a union is a group of sellers acting together in the hope of exerting their joint market power.

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Frictional unemployment is inevitable because

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When a minimum-wage law forces the wage to remain above the level that balances supply and demand,it

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Causes of the decline in the U.S.men's labor-force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did,older men now retiring earlier and living longer,and more fathers now staying at home to raise their children.

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One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

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The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households,called the Current Population Survey.

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Table 20-1 Labor Data for Aridia -Refer to Table 20-1.The labor-force participation rate of Aridia

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Efficiency wages contribute to

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In June 2009 the BLS reported an adult population of 234.9 million,unemployment of 12.4 million,and employment of 141.6 million.Based on these numbers the labor-force participation rate was

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