Question 1

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job- market related reason for not currently looking for a job.

Accepted Answer

A) True 
 B)False

Question 2

The natural rate of unemployment refers to the current unemployment rate.

Accepted Answer

A) True 
 B)False

Question 3

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Accepted Answer

A)   have worked no more than 10 hours during the past week..
B)   have tried to find employment during the previous year.
C)   not have been laid off.
D)   None of the above is correct.E) All of the above
F) A) and B)

Question 4

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 5

Suppose that florists and landscape workers are not unionized. If florists unionize, then the wages of

Accepted Answer

A)   florists will rise, and the wages of landscape workers will fall.
B)   florists will fall, and the wages of landscape workers will rise.
C)   both florists and landscape workers will rise.
D)   both florists and landscape workers will fall.E) A) and B)
F) A) and C)

Question 6

The BLS reports the U-6 measure of labor underutilization. Which of the following is how it computes U-6?

Accepted Answer

A)   total unemployed + marginally attached workers) /adult population
B)   total unemployed + marginally attached workers + part-time employed for economic reasons) /adult population
C)   total unemployed + marginally attached workers) /labor force + marginally attached workers) 
D)   total unemployed + marginally attached workers + part time employed for economic reasons) /labor force + marginally attached workers) E) A) and D)
F) None of the above

Question 7

Unemployment insurance tends to

Accepted Answer

A)   decrease structural unemployment.
B)   decrease cyclical unemployment.
C)   increase frictional unemployment.
D)   increase the number of discouraged workers.E) A) and C)
F) All of the above

Question 8

Unions contribute to

Accepted Answer

A)   structural unemployment but not the natural rate of unemployment.
B)   the natural rate of unemployment but not structural unemployment.
C)   both structural unemployment and the natural rate of unemployment.
D)   neither structural unemployment nor the natural rate of unemployment.E) A) and D)
F) B) and C)

Question 9

Economists would predict that, other things the same, the more generous unemployment compensation a country has, the

Accepted Answer

A)   shorter the duration of each spell of unemployment and the higher the unemployment rate.
B)   shorter the duration of each spell of unemployment and the lower the unemployment rate.
C)   longer the duration of each spell of unemployment and the higher the unemployment rate.
D)   longer the duration of each spell of unemployment and the lower the unemployment rate.E) B) and D)
F) A) and C)

Question 10

Who in the adult population is counted as "employed" in U.S. labor statistics?

Accepted Answer

A)   people who are temporarily absent from their job and people who work without pay in a family member's business
B)   people who are temporarily absent from their job but not people who work without pay in a family member's business
C)   people who work without pay in a family member's business but not people who are temporarily absent from their job
D)   neither people who are temporarily absent from their job nor people who work without pay in a family member's businessE) A) and D)
F) B) and D)

Question 11

Meredith is looking for work as a computer programmer. Although her prospects are good, she has not yet taken a job. Julie is looking for work in a steel mill. Every time she shows up for an interview, there are more people looking for work than there are openings. Someone waiting in line with her tells her it has been that way for a long time.

Accepted Answer

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

Question 12

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Accepted Answer

A) True 
 B)False

Question 13

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Accepted Answer

A) True 
 B)False

Question 14

The labor-force participation rate equals the percentage of the labor force that is employed.

Accepted Answer

A) True 
 B)False

Question 15

Paying efficiency wages means that wages are

Accepted Answer

A)   above equilibrium, and profits are higher than otherwise.
B)   above equilibrium, and profits are lower than otherwise.
C)   below equilibrium, and profits are higher than otherwise.
D)   below equilibrium, and profits are lower than otherwise.E) A) and C)
F) B) and C)

Question 16

Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was about 5.5 percent.

Accepted Answer

A) True 
 B)False

Question 17

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

Question 18

Unemployment insurance the amount of unemployment.

Accepted Answer

The answer of Unemployment insurance the amount of unemployment....

Question 19

Minimum-wage laws, unions, and efficiency wages contribute to

Accepted Answer

A)   both structural unemployment and the natural rate of unemployment.
B)   neither structural unemployment nor the natural rate of unemployment.
C)   structural unemployment, but not the natural rate of unemployment.
D)   the natural rate of unemployment, but not structural unemployment.E) B) and D)
F) None of the above

Question 20

The Bureau of Labor Statistics divides the adult population into two categories: those who are employed and those who are unemployed.

Accepted Answer

A) True 
 B)False

Exam 10: Unemployment and Its Natural Rate

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Correct Answer
verified

The natural rate of unemployment refers to the current unemployment rate.

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

Unemployment insurance the amount of unemployment.

Correct Answer
verified

Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was about 5.5 percent.

Correct Answer
verified

Unions contribute to

Correct Answer
verified

Minimum-wage laws, unions, and efficiency wages contribute to

Correct Answer
verified

Who in the adult population is counted as "employed" in U.S. labor statistics?

Correct Answer
verified

The BLS reports the U-6 measure of labor underutilization. Which of the following is how it computes U-6?

Correct Answer
verified

Correct Answer
verified

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Correct Answer
verified

Unemployment insurance tends to

Correct Answer
verified

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job- market related reason for not currently looking for a job.

Correct Answer
verified

Paying efficiency wages means that wages are

Correct Answer
verified

Economists would predict that, other things the same, the more generous unemployment compensation a country has, the

Correct Answer
verified

The labor-force participation rate equals the percentage of the labor force that is employed.

Correct Answer
verified

The Bureau of Labor Statistics divides the adult population into two categories: those who are employed and those who are unemployed.

Correct Answer
verified

Frictional unemployment is inevitable because

Correct Answer
verified

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Correct Answer
verified

Suppose that florists and landscape workers are not unionized. If florists unionize, then the wages of

Correct Answer
verified

Exam 10: Unemployment and Its Natural Rate

For the Bureau of Labor Statistics to place someone in the "unemployed" category, that person must

Correct AnswerverifiedShow Answer

The natural rate of unemployment refers to the current unemployment rate.

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

Unemployment insurance the amount of unemployment.

Correct AnswerverifiedShow Answer

Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was about 5.5 percent.

Correct AnswerverifiedShow Answer

Unions contribute to

Correct AnswerverifiedShow Answer

Minimum-wage laws, unions, and efficiency wages contribute to

Correct AnswerverifiedShow Answer

Who in the adult population is counted as "employed" in U.S. labor statistics?

Correct AnswerverifiedShow Answer

The BLS reports the U-6 measure of labor underutilization. Which of the following is how it computes U-6?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns.

Correct AnswerverifiedShow Answer

Unemployment insurance tends to

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job- market related reason for not currently looking for a job.

Correct AnswerverifiedShow Answer

Paying efficiency wages means that wages are

Correct AnswerverifiedShow Answer

Economists would predict that, other things the same, the more generous unemployment compensation a country has, the

Correct AnswerverifiedShow Answer

The labor-force participation rate equals the percentage of the labor force that is employed.

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics divides the adult population into two categories: those who are employed and those who are unemployed.

Correct AnswerverifiedShow Answer

Frictional unemployment is inevitable because

Correct AnswerverifiedShow Answer

Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics' "employed" category.

Correct AnswerverifiedShow Answer

Suppose that florists and landscape workers are not unionized. If florists unionize, then the wages of

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