Question 1

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Accepted Answer

A) True 
 B)False

Question 2

The Wagner Act of 1935

Accepted Answer

A)   prevents unions from acting as cartels.
B)   allows workers joining a unionized firm to choose not to join the union.
C)   prevents employers from interfering when workers try to organize a union.
D)   prevents firms from hiring permanent replacements for workers who are on strike.E) B) and D)
F) B) and C)

Question 3

The natural rate of unemployment is impervious to economic policy.

Accepted Answer

A) True 
 B)False

Question 4

Efficiency wages, minimum-wage laws, and unions all keep wages

Accepted Answer

A)   below the equilibrium level, causing a shortage of labor.
B)   below the equilibrium level, causing a surplus of labor.
C)   above the equilibrium level, causing a shortage of labor.
D)   above the equilibrium level, causing a surplus of labor.E) A) and B)
F) B) and D)

Question 5

Duane owns his own real estate company. The Bureau of Labor Statistics counts Duane as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed and not in the labor force.
C)   employed and in the labor force.
D)   employed and not in the labor force.E) A) and D)
F) B) and C)

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A)   37%
B)   63%
C)   66.7%
D)   96.3%E) A) and C)
F) None of the above

Question 9

Marginally attached workers are people who are

Accepted Answer

A)   looking for a better job than they currently have.
B)   not working and are not looking for work, but would work if asked.
C)   working part-time while they go to school or get training for a better job.
D)   only a few years from retirement.E) A) and B)
F) All of the above

Question 10

Figure 28-4 
-Refer to Figure 28-4. If the government imposes a minimum wage of $7, how many workers will be unemployed?

Accepted Answer

A)   0
B)   2,000
C)   4,000
D)   6,000E) A) and B)
F) A) and D)

Question 11

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

Question 12

Eric was laid off two months ago. He has not searched for other work because he is expecting to be recalled to work. The Bureau of Labor Statistics counts Eric as

Accepted Answer

A)   unemployed and in the labor force.
B)   unemployed and not in the labor force.
C)   employed and in the labor force.
D)   not in the labor force.E) A) and B)
F) B) and C)

Question 13

Table 28-2
Labor Data for Aridia
 
-Refer to Table 28-2. The labor force of Aridia in 2012 was

Accepted Answer

A)   1,600.
B)   1,800.
C)   3,000.
D)   3,200.E) B) and C)
F) None of the above

Question 14

Efficiency wages create a

Accepted Answer

A)   shortage of labor and so reduce unemployment.
B)   shortage of labor and so raise unemployment.
C)   surplus of labor and so reduce unemployment.
D)   surplus of labor and so raise unemployment.E) C) and D)
F) B) and D)

Question 15

Minimum-wage laws

Accepted Answer

A)   create frictional unemployment, while firms paying wages above equilibrium to reduce worker turnover creates structural unemployment.
B)   create structural unemployment, while firms paying wages above equilibrium to reduce worker turnover creates frictional unemployment.
C)   and firms paying wages above equilibrium to reduce worker turnover both create structural unemployment.
D)   and firms paying wages above equilibrium to reduce worker turnover both create frictional unemployment.E) All of the above
F) C) and D)

Question 16

Since the 1940's U.S. union membership has

Accepted Answer

A)   fallen. This decline should have reduced structural unemployment.
B)   fallen. This decline should not have reduced structural unemployment.
C)   risen. This increase should have raised structural unemployment.
D)   risen. This increase should not have raised structural unemployment.E) A) and D)
F) C) and D)

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision

Accepted Answer

A)   might increase profits if it attracts a better pool of workers to apply for jobs at his restaurant.
B)   will reduce the excess supply of labor.
C)   is an example of the benefits of a minimum-wage law.
D)   All of the above are correct.E) B) and C)
F) A) and D)

Question 19

Which of the following is the correct formula for calculating the labor force participation rate?

Accepted Answer

A)   
B)   
C)   
D)   E) B) and C)
F) C) and D)

Question 20

Measuring unemployment is the job of the

Accepted Answer

A)   Congressional Budget Office.
B)   Department of Commerce.
C)   Council of Economic Advisers.
D)   Bureau of Labor Statistics.E) B) and C)
F) None of the above

Exam 15: Unemployment

Which of the following is the correct formula for calculating the labor force participation rate?

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Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision

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

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The natural rate of unemployment is impervious to economic policy.

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The Wagner Act of 1935

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

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Table 28-2 Labor Data for Aridia -Refer to Table 28-2. The labor force of Aridia in 2012 was

Correct AnswerverifiedShow Answer

Efficiency wages, minimum-wage laws, and unions all keep wages

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

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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.

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Minimum-wage laws

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Duane owns his own real estate company. The Bureau of Labor Statistics counts Duane as

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs.

Correct AnswerverifiedShow Answer

Since the 1940's U.S. union membership has

Correct AnswerverifiedShow Answer

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $7, how many workers will be unemployed?

Correct AnswerverifiedShow Answer

Efficiency wages create a

Correct AnswerverifiedShow Answer

Marginally attached workers are people who are

Correct AnswerverifiedShow Answer

Measuring unemployment is the job of the

Correct AnswerverifiedShow Answer

Eric was laid off two months ago. He has not searched for other work because he is expecting to be recalled to work. The Bureau of Labor Statistics counts Eric as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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