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Exam 28: Unemployment

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Question 41

True/False

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Table 28-11 2010 Labor Data for Tajnia -Refer to Table 28-11. The labor-force participation rate of Tajnia in 2010 is about 40.8 percent.

A) True
B) False

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Question 42

Multiple Choice

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Which of the following is correct?

A) The Bureau of Labor Statistics uses data collected from those applying for unemployment insurance to compute the unemployment rate.
B) The labor force includes all adults who are able to work.
C) Unpaid homemakers are counted as "employed" by the Bureau of Labor Statistics.
D) People working part time are counted as "employed" by the Bureau of Labor Statistics.

E) None of the above
F) A) and C)

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Question 43

Multiple Choice

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Minimum-wage laws

Minimum wages create unemployment in markets where they create a

List the main employment characteristics over which a labor union negotiates for its workers.

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Italian adult non- institutionalized population was 51.070 million, the labor force was 24.710 million, and the number of people employed was 22.765 million. According to these numbers, the Italian labor-force participation rate and unemployment rate were about

Table 28-8 Below is data about the labor market in the state of Northwoods. -Refer to Table 28-8. If the state government imposed a minimum wage of $9, how many people would be unemployed? A) 0

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are employed, then the unemployment rate is approximately

Minimum-wage laws

The unemployment that results from the process of matching workers and jobs is called frictional unemployment.

It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment.

Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is lower and the quantity of labor demand is higher than at the equilibrium wage.

Table 28-4 2010 Labor Data for Adults (ages 16 and older) in Meditor -Refer to Table 28-4. What is the adult female labor-force participation rate in Meditor?

Michael decides to hire some additional workers for his roofing company. The equilibrium wage is $17 per hour. Efficiency wage theory suggests that it is reasonable for Michael to offer

Even though the difference in labor-force participation rates of U.S. males and females has narrowed, the labor- force participation rate of males remains higher than that of females.

Almost nine-tenths of all spells of unemployment end when the unemployed person finds a job.

The Bureau of Labor Statistics is part of the U.S. Department of

The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about

A union is a type of cartel.