Question 1

Table 20-4
 
-Refer to Table 20-4.What is the U-5 measure of labor underutilization?

Accepted Answer

A)   7.5 percent
B)   7.9 percent
C)   8.1 percent
D)   26 percentE) None of the above
F) B) and D)

Question 2

If the wage is kept above the equilibrium wage for any reason,the result is structural unemployment.

Accepted Answer

A) True 
 B)False

Question 3

Figure 20-1 
-Refer to Figure 20-1.At the equilibrium wage,how many workers are unemployed?

Accepted Answer

A)   0
B)   4000
C)   5000
D)   8000E) A) and D)
F) A) and C)

Question 4

Josh is a full-time college student who is not working or looking for a job.The Bureau of Labor Statistics counts Josh as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed,but not in the labor force.
C)   in the labor force,but not unemployed.
D)   neither in the labor force nor unemployed.E) B) and C)
F) A) and C)

Question 5

U.S.Department of Labor data show that minimum-wage workers tend to be young,less educated,more likely to be working part time,and concentrated in the leisure and hospitality industry.

Accepted Answer

A) True 
 B)False

Question 6

In order,which group has the highest participation rate and which has the higher unemployment rate?

Accepted Answer

A)   black males,black males
B)   black males,white males
C)   white males,black males
D)   white males,white malesE) All of the above
F) B) and C)

Question 7

Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

Accepted Answer

A)   Both the first and the second fact tend to make the reported unemployment rate lower than otherwise.
B)   Both the first and the second fact tend to make the reported unemployment rate higher than otherwise.
C)   The first fact tends to make the reported unemployment rate higher than otherwise,while the second fact tends to make the reported unemployment rate lower than otherwise.
D)   The first fact tends to make the reported unemployment rate lower than otherwise,while the second fact tends to make the reported unemployment rate higher than otherwise.E) None of the above
F) B) and D)

Question 8

According to 2009 data on the U.S.population which of the following was correct?

Accepted Answer

A)   Adults had higher labor-force participation rates and higher rates of unemployment compared to teenagers.
B)   Adults had higher labor-force participation rates and lower rates of unemployment compared to teenagers.
C)   Adults had lower labor-force participation rates and lower rates of unemployment compared to teenagers.
D)   Adults had lower labor-force participation rates and higher rates of unemployment compared to teenagers.E) A) and C)
F) B) and C)

Question 9

If an unemployed person quits looking for work,then,eventually the unemployment rate

Accepted Answer

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

Question 10

When a union raises the wage above the equilibrium level,it reduces the quantity of labor supplied and raises the quantity of labor demanded,resulting in unemployment.

Accepted Answer

A) True 
 B)False

Question 11

Structural unemployment results when wages are,for some reason,set above the level that brings supply and demand into equilibrium.

Accepted Answer

A) True 
 B)False

Question 12

Tom was laid off and is expecting to be recalled.He has not looked for work since being laid off.Bill is not employed and not laid off.Who is counted as unemployed in the U.S.labor force statistics?

Accepted Answer

A)   Tom and Bill even if he has not looked for work during the previous 4 weeks.
B)   Tom and Bill if he has looked for work during the previous 4 weeks.
C)   Not Tom.Bill even if he has not looked for work during the previous 4 weeks.
D)   Not Tom.Bill if he has looked for work during the previous 4 weeks.E) B) and C)
F) A) and B)

Question 13

Economists have found that union workers earn about 30 to 40 percent more than similar workers who do not belong to unions.

Accepted Answer

A) True 
 B)False

Question 14

Unemployment insurance

Accepted Answer

A)   reduces the hardship of unemployment,but it also increases the amount of unemployment.
B)   reduces the incentive for the unemployed to find and take new jobs.
C)   causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment.
D)   All of the above are correct.E) B) and C)
F) B) and D)

Question 15

Angelica is an unpaid homemaker who works as a volunteer at the local Red Cross and is currently not looking for a paid job.The Bureau of Labor Statistics counts Angelica as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed,but not in the labor force.
C)   in the labor force,but not unemployed.
D)   neither in the labor force nor unemployed.E) All of the above
F) None of the above

Question 16

Data show that at least 20 percent of U.S.manufacturing jobs are destroyed every year.

Accepted Answer

A) True 
 B)False

Question 17

More than three-fourths of the unemployed are recent entrants into the labor force.

Accepted Answer

A) True 
 B)False

Question 18

Within the U.S.,teenagers have lower rates of labor-force participation than older workers.

Accepted Answer

A) True 
 B)False

Question 19

Frictional unemployment results from

Accepted Answer

A)   job searching.It is often thought to explain relatively short spells of unemployment.
B)   job searching.It is often thought to explain relatively long spells of unemployment
C)   a surplus in the some labor markets.It is often thought to explain relatively short spells of unemployment.
D)   a surplus in some labor markets.It is often thought to explain relatively long spells of unemployment.E) A) and B)
F) A) and C)

Question 20

The Bureau of Labor Statistics' U-1 measure of joblessness is smaller than its U-6 measure of joblessness.

Accepted Answer

A) True 
 B)False

Exam 20: Unemployment

Economists have found that union workers earn about 30 to 40 percent more than similar workers who do not belong to unions.

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Unemployment insurance

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Table 20-4 -Refer to Table 20-4.What is the U-5 measure of labor underutilization?

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In order,which group has the highest participation rate and which has the higher unemployment rate?

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Josh is a full-time college student who is not working or looking for a job.The Bureau of Labor Statistics counts Josh as

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According to 2009 data on the U.S.population which of the following was correct?

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Tom was laid off and is expecting to be recalled.He has not looked for work since being laid off.Bill is not employed and not laid off.Who is counted as unemployed in the U.S.labor force statistics?

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Data show that at least 20 percent of U.S.manufacturing jobs are destroyed every year.

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More than three-fourths of the unemployed are recent entrants into the labor force.

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Structural unemployment results when wages are,for some reason,set above the level that brings supply and demand into equilibrium.

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Frictional unemployment results from

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U.S.Department of Labor data show that minimum-wage workers tend to be young,less educated,more likely to be working part time,and concentrated in the leisure and hospitality industry.

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Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

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Within the U.S.,teenagers have lower rates of labor-force participation than older workers.

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Figure 20-1 -Refer to Figure 20-1.At the equilibrium wage,how many workers are unemployed?

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Angelica is an unpaid homemaker who works as a volunteer at the local Red Cross and is currently not looking for a paid job.The Bureau of Labor Statistics counts Angelica as

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If the wage is kept above the equilibrium wage for any reason,the result is structural unemployment.

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If an unemployed person quits looking for work,then,eventually the unemployment rate

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When a union raises the wage above the equilibrium level,it reduces the quantity of labor supplied and raises the quantity of labor demanded,resulting in unemployment.

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The Bureau of Labor Statistics' U-1 measure of joblessness is smaller than its U-6 measure of joblessness.

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