Question 1

A recent college graduate with a major in psychology attends a job fair but has not yet found a job. This graduate is _____ unemployed.

Accepted Answer

A)  structurally.
B)  structurally
C)  seasonally.
D)  seasonally
E)  cyclically.F) cyclicallyG) frictionally.H) frictionallyI) A) and E)
J) F) and G)

Question 2

You run a factory that makes leather shoes. You opt to pay your workers twice the going wage in order to reduce tardiness and shirking and to increase workers' morale and effort. This scenario is an example of:

Accepted Answer

A)  a minimum wage.
B)  an efficiency wage.
C)  discouraged workers.
D)  cyclical unemployment.E) A) and B)
F) None of the above

Question 3

West Virginia experiences an economic boom. We would expect:

Accepted Answer

A)  wages to fall.
B)  marginal unemployment to increase.
C)  underemployment to increase.
D)  cyclical unemployment to fall.E) None of the above
F) All of the above

Question 4

(Figure: The Effect of a Minimum Wage)  Use Figure: The Effect of a Minimum Wage. Suppose that, after a period in which the minimum wage is WF, the government abolishes the minimum wage. Employment will:
 ​

Accepted Answer

A)  decrease to QE
B)  decrease to QE.
C)  increase to QE
D)  increase to QE.
E)  stay at QF) stay at Q.G) be impossible to determine.H) be impossible to determineI) E) and H)
J) B) and C)

Question 5

Which of the following people could qualify as a "discouraged worker"?

Accepted Answer

A)  Paul, who works in Chicago but is looking for a better job in California
B)  Leonard, who thinks there are no jobs available and has given up trying to find work
C)  Desmond, who has stopped work to become a stay-at-home parent
D)  Lucille, a full-time studentE) C) and D)
F) A) and B)

Question 6

(Figure: The Effect of a Minimum Wage)  Use Figure: The Effect of a Minimum Wage. Suppose the labor market is in equilibrium at E when the government imposes a minimum wage of WF. Assuming all workers without jobs are seeking work, structural unemployment will equal:
​
 ​

Accepted Answer

A)  QS − QD
B)  QS − QD.
C)  QE − QD
D)  QE − QD.
E)  QS − Q.F) QS − QG) zeroH) zero.I) E) and G)
J) A) and E)

Question 7

During the Great Recession, the United States Congress increased the length of time that unemployment benefits could be received from 52 weeks to 99 weeks. This change caused:

Accepted Answer

A)  a decrease in unemployment.
B)  an increase in the costs for the government.
C)  an increase in the number of employed people in the economy.
D)  an increase in the labor force participation rate.E) C) and D)
F) B) and D)

Exam 23: Unemployment

Which of the following people could qualify as a "discouraged worker"?

Correct Answer
verified

(Figure: The Effect of a Minimum Wage) Use Figure: The Effect of a Minimum Wage. Suppose that, after a period in which the minimum wage is WF, the government abolishes the minimum wage. Employment will:

Correct Answer
verified

A recent college graduate with a major in psychology attends a job fair but has not yet found a job. This graduate is _____ unemployed.

Correct Answer
verified

West Virginia experiences an economic boom. We would expect:

Correct Answer
verified

During the Great Recession, the United States Congress increased the length of time that unemployment benefits could be received from 52 weeks to 99 weeks. This change caused:

Correct Answer
verified

(Figure: The Effect of a Minimum Wage) Use Figure: The Effect of a Minimum Wage. Suppose the labor market is in equilibrium at E when the government imposes a minimum wage of WF. Assuming all workers without jobs are seeking work, structural unemployment will equal:

Correct Answer
verified

You run a factory that makes leather shoes. You opt to pay your workers twice the going wage in order to reduce tardiness and shirking and to increase workers' morale and effort. This scenario is an example of:

Correct Answer
verified

Exam 23: Unemployment

Which of the following people could qualify as a "discouraged worker"?

Correct AnswerverifiedShow Answer

(Figure: The Effect of a Minimum Wage) Use Figure: The Effect of a Minimum Wage. Suppose that, after a period in which the minimum wage is WF, the government abolishes the minimum wage. Employment will: ​

Correct AnswerverifiedShow Answer

A recent college graduate with a major in psychology attends a job fair but has not yet found a job. This graduate is _____ unemployed.

Correct AnswerverifiedShow Answer

West Virginia experiences an economic boom. We would expect:

Correct AnswerverifiedShow Answer

During the Great Recession, the United States Congress increased the length of time that unemployment benefits could be received from 52 weeks to 99 weeks. This change caused:

Correct AnswerverifiedShow Answer

(Figure: The Effect of a Minimum Wage) Use Figure: The Effect of a Minimum Wage. Suppose the labor market is in equilibrium at E when the government imposes a minimum wage of WF. Assuming all workers without jobs are seeking work, structural unemployment will equal: ​ ​

Correct AnswerverifiedShow Answer

You run a factory that makes leather shoes. You opt to pay your workers twice the going wage in order to reduce tardiness and shirking and to increase workers' morale and effort. This scenario is an example of:

Correct AnswerverifiedShow Answer

Correct Answer
verified

(Figure: The Effect of a Minimum Wage) Use Figure: The Effect of a Minimum Wage. Suppose that, after a period in which the minimum wage is WF, the government abolishes the minimum wage. Employment will:

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

(Figure: The Effect of a Minimum Wage) Use Figure: The Effect of a Minimum Wage. Suppose the labor market is in equilibrium at E when the government imposes a minimum wage of WF. Assuming all workers without jobs are seeking work, structural unemployment will equal:

Correct Answer
verified

Correct Answer
verified