Question 1

Every week,the Bureau of Labor Statistics produces data on unemployment.

Accepted Answer

A) True 
 B)False

Question 2

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.

Question 3

The Bureau of Labor Statistics predicts that the number of jobs for dental hygienists will grow faster than most occupations while the number of jobs for bookbinders will decline.This change in the labor market could lead to

Accepted Answer

A)   frictional unemployment created by efficiency wages.
B)   structural unemployment created by efficiency wages.
C)   frictional unemployment created by sectoral shifts.
D)   structural unemployment created by sectoral shifts.

Question 4

Efficiency-wage theory suggests that paying

Accepted Answer

A)   low wages might be profitable because they raise the efficiency of a firm's workers.
B)   low wages might be profitable because they lower the efficiency of a firm's workers.
C)   high wages might be profitable because they raise the efficiency of a firm's workers.
D)   high wages might be profitable because they lower the efficiency of a firm's workers.

Question 5

Figure 15-1 
-Refer to Figure 15-1.At the equilibrium wage,how many workers are employed?

Accepted Answer

A)   0
B)   1000
C)   5000
D)   9000

Question 6

Juanita decides to hire some additional workers for her vinyl siding factory.The equilibrium wage is $14 per hour.Efficiency wage theory suggests that it is reasonable for Juanita to offer

Accepted Answer

A)   $14 per hour.
B)   less than $14 per hour,since some people would be willing to work for less.
C)   less than $14 an hour to prevent shirking.
D)   more than $14 per hour,so as to attract a better pool of applicants.

Question 7

Satchel loses his job and immediately begins looking for another.Other things the same,the unemployment rate

Accepted Answer

A)   increases and the labor-force participation rate decreases.
B)   and the labor-force participation rate both increase.
C)   increases and the labor-force participation rate is unaffected.
D)   is unaffected and the labor-force participation rate decreases.

Question 8

Data show that at least 10 percent of U.S.manufacturing jobs are destroyed every year.

Accepted Answer

A) True 
 B)False

Question 9

From time to time,the demand for workers has risen in one region of the United States and fallen in another.This illustrates

Accepted Answer

A)   frictional unemployment created by efficiency wages.
B)   structural unemployment created by efficiency wages.
C)   frictional unemployment created by sectoral shifts.
D)   structural unemployment created by sectoral shifts.

Question 10

Within the U.S. ,teenagers have higher rates of unemployment than older workers.

Accepted Answer

A) True 
 B)False

Question 11

Andre owns his own business.Oscar is an unpaid worker in his family's business.Who is included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)   only Andre
B)   only Oscar
C)   both Andre and Oscar
D)   neither Andre nor Oscar

Question 12

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job

Accepted Answer

A)   is counted as out of the labor force but should be counted as unemployed.
B)   is counted as unemployed but should be counted as out of the labor force.
C)   is correctly counted as out of the labor force.
D)   is correctly counted as unemployed.

Question 13

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

Accepted Answer

higher wages,better ...

Question 14

Some degree of unemployment is inevitable in a complex economy.

Accepted Answer

A) True 
 B)False

Question 15

The deviation of unemployment from its natural rate is called

Accepted Answer

A)   the normal rate of unemployment.
B)   deviant unemployment.
C)   cyclical unemployment.
D)   fluctuating unemployment.

Question 16

The Internet my reduce frictional unemployment because it __________.

Accepted Answer

reduces the search c...

Question 17

Which of the following was not among the four industries with the largest employment in the United States a century ago?

Accepted Answer

A)   cotton goods
B)   men's clothing
C)   meat packing
D)   lumber

Question 18

Jai Li just lost her job,and she hasn't yet started looking for a new one.The Bureau of Labor Statistics counts Jai Li 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.

Question 19

Since unemployment rates are consistently higher in Canada and some Western European countries than in the United States,it appears that the natural rate of unemployment is lower in the United States.What might explain this difference?

Accepted Answer

The text offers two explanations for the...

Question 20

Just after World War II,the labor-force participation rate of women was

Accepted Answer

A)   about 25 percent,and in 2009,it was about 50 percent.
B)   about 33 percent,and in 2009 it was about 60 percent.
C)   about 50 percent,and in 2009,it was about 70 percent.
D)   about 60 percent,and in 2009,it was about 80 percent.

Exam 28: Unemployment

Figure 15-1 -Refer to Figure 15-1.At the equilibrium wage,how many workers are employed?

Correct AnswerverifiedShow Answer

Efficiency-wage theory suggests that paying

Correct AnswerverifiedShow Answer

Within the U.S. ,teenagers have higher rates of unemployment than older workers.

Correct AnswerverifiedShow Answer

From time to time,the demand for workers has risen in one region of the United States and fallen in another.This illustrates

Correct AnswerverifiedShow Answer

Which of the following was not among the four industries with the largest employment in the United States a century ago?

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics predicts that the number of jobs for dental hygienists will grow faster than most occupations while the number of jobs for bookbinders will decline.This change in the labor market could lead to

Correct AnswerverifiedShow Answer

Juanita decides to hire some additional workers for her vinyl siding factory.The equilibrium wage is $14 per hour.Efficiency wage theory suggests that it is reasonable for Juanita to offer

Correct AnswerverifiedShow Answer

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

Correct Answerverifiedhigher wages,better ...View AnswerShow Answer

Every week,the Bureau of Labor Statistics produces data on unemployment.

Correct AnswerverifiedShow Answer

Andre owns his own business.Oscar is an unpaid worker in his family's business.Who is included in the Bureau of Labor Statistics' "employed" category?

Correct AnswerverifiedShow Answer

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job

Correct AnswerverifiedShow Answer

Data show that at least 10 percent of U.S.manufacturing jobs are destroyed every year.

Correct AnswerverifiedShow Answer

Jai Li just lost her job,and she hasn't yet started looking for a new one.The Bureau of Labor Statistics counts Jai Li as

Correct AnswerverifiedShow Answer

Paying efficiency wages means that wages are

Correct AnswerverifiedShow Answer

Some degree of unemployment is inevitable in a complex economy.

Correct AnswerverifiedShow Answer

Since unemployment rates are consistently higher in Canada and some Western European countries than in the United States,it appears that the natural rate of unemployment is lower in the United States.What might explain this difference?

Correct AnswerverifiedThe text offers two explanations for the...View AnswerShow Answer

Just after World War II,the labor-force participation rate of women was

Correct AnswerverifiedShow Answer

Satchel loses his job and immediately begins looking for another.Other things the same,the unemployment rate

Correct AnswerverifiedShow Answer

The deviation of unemployment from its natural rate is called

Correct AnswerverifiedShow Answer

The Internet my reduce frictional unemployment because it __________.

Correct Answerverifiedreduces the search c...View AnswerShow Answer

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higher wages,better ...
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The text offers two explanations for the...
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reduces the search c...
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