Question 1

Suppose that computer factory workers and cell phone factory workers have no unions. Now suppose that cell phone factory workers form unions. What does this do the labor supply of and wages of workers in computer factories?

Accepted Answer

A)   It increases the labor supply and wages of computer factory workers.
B)   It increases the labor supply and decreases the wages of computer factory workers.
C)   It decreases the labor supply and increases the wages of computer factory workers.
D)   It decreases the labor supply and wages of computer factory workers.E) A) and D)
F) None of the above

Question 2

Suppose that butchers and bakers have no unions. Now suppose the butchers form a union. What does this do the labor supply of and wages of bakers?

Accepted Answer

A)   It increases the labor supply and wages of bakers.
B)   It increases the labor supply and decreases the wages of bakers.
C)   It decreases the labor supply and increases the wages of bakers.
D)   It decreases the labor supply and wages of bakers.E) A) and B)
F) None of the above

Question 3

Which of the following is correct?

Accepted Answer

A)   typically more than one third of the unemployed are new entrants into the job market.
B)   most spells of unemployment are short.
C)   most unemployment observed at any time is long term.
D)   All of the above are correct.E) All of the above
F) B) and C)

Question 4

The Bureau of Labor Statistics produces data on unemployment

Accepted Answer

A)   weekly.
B)   monthly.
C)   quarterly.
D)   yearly.E) B) and C)
F) B) and D)

Question 5

Government policy can do nothing about the natural rate of unemployment.

Accepted Answer

A) True 
 B)False

Question 6

If the minimum wage were currently above the equilibrium wage, then a decrease in the minimum wage that kept it above the equilibrium wage would

Accepted Answer

A)   increase the surplus of labor.
B)   reduce the surplus of labor.
C)   increase the shortage of labor.
D)   reduce the shortage of labor,E) All of the above
F) A) and B)

Question 7

According to 2009 data on the U.S. population, which of the following groups of teenagers (ages 16-19)  had the lowest unemployment rate?

Accepted Answer

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

Question 8

Unemployment data are collected

Accepted Answer

A)   from unemployment insurance claims.
B)   through a regular survey of about 60,000 households.
C)   through a regular survey of about 200,000 firms.
D)   using all of the above.E) A) and D)
F) B) and C)

Question 9

U.S. Department of Labor data show that minimum-wage workers tend to be

Accepted Answer

A)   young and less educated.
B)   young and more educated.
C)   old and less educated.
D)   old and more educated.E) All of the above
F) None of the above

Question 10

A union is a type of cartel.

Accepted Answer

A) True 
 B)False

Question 11

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment.

Accepted Answer

A) True 
 B)False

Question 12

In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage. As a result, turnover and absenteeism fell and productivity and profits rose.

Accepted Answer

A) True 
 B)False

Question 13

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 14

The natural rate of unemployment is any type of unemployment that does not go away on its own even in the long run.

Accepted Answer

A) True 
 B)False

Question 15

Some degree of unemployment is inevitable in a complex economy.

Accepted Answer

A) True 
 B)False

Question 16

Efficiency wages create structural unemployment.

Accepted Answer

A) True 
 B)False

Question 17

Suppose some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were employed?

Accepted Answer

A)   2.76 million
B)   31.74 million
C)   34.5 million
D)   42.32 millionE) A) and B)
F) A) and C)

Question 18

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

Accepted Answer

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

Question 19

Employment can rise in one region of the country while it falls in another.

Accepted Answer

A) True 
 B)False

Question 20

Figure 10-1
 
-Refer to Figure 10-1. If the government imposes a minimum wage of $4, then how many workers will be unemployed?

Accepted Answer

A)   0
B)   3000
C)   4000
D)   7000E) All of the above
F) A) and D)

Exam 10: Unemployment

In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage. As a result, turnover and absenteeism fell and productivity and profits rose.

Correct AnswerverifiedShow Answer

Some degree of unemployment is inevitable in a complex economy.

Correct AnswerverifiedShow Answer

Efficiency wages create structural unemployment.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics produces data on unemployment

Correct AnswerverifiedShow Answer

Which of the following is correct?

Correct AnswerverifiedShow Answer

If the minimum wage were currently above the equilibrium wage, then a decrease in the minimum wage that kept it above the equilibrium wage would

Correct AnswerverifiedShow Answer

Government policy can do nothing about the natural rate of unemployment.

Correct AnswerverifiedShow Answer

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment.

Correct AnswerverifiedShow Answer

Suppose some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were employed?

Correct AnswerverifiedShow Answer

Employment can rise in one region of the country while it falls in another.

Correct AnswerverifiedShow Answer

Figure 10-1 -Refer to Figure 10-1. If the government imposes a minimum wage of $4, then how many workers will be unemployed?

Correct AnswerverifiedShow Answer

The natural rate of unemployment is any type of unemployment that does not go away on its own even in the long run.

Correct AnswerverifiedShow Answer

Suppose that butchers and bakers have no unions. Now suppose the butchers form a union. What does this do the labor supply of and wages of bakers?

Correct AnswerverifiedShow Answer

U.S. Department of Labor data show that minimum-wage workers tend to be

Correct AnswerverifiedShow Answer

Suppose that computer factory workers and cell phone factory workers have no unions. Now suppose that cell phone factory workers form unions. What does this do the labor supply of and wages of workers in computer factories?

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 unemployment rate?

Correct AnswerverifiedShow Answer

Unemployment data are collected

Correct AnswerverifiedShow Answer

A union is a type of cartel.

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

According to 2009 data on the U.S. population, which of the following groups of teenagers (ages 16-19) had the lowest unemployment rate?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified