Question 1

In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Canadian adult non-institutionalized population was 25.022 million,the labor force was 16.956 million,and the number of people employed was 15.864 million.According to these numbers,the Canadian labor-force participation rate and unemployment rate were about

Accepted Answer

A)   63.4% and 4.4%.
B)   63.4% and 6.4%.
C)   67.8% and 4.4%.
D)   67.8% and 6.4%.E) A) and C)
F) A) and D)

Question 2

Table 28-3
2003 Labor Data for Adults (age 16 and older) in Meditor
 
-Refer to Table 28-3.What is the adult labor-force participation rate in Meditor?

Accepted Answer

A)   37.5 percent
B)   62.5 percent
C)   66.7 percent
D)   95.8 percentE) C) and D)
F) None of the above

Question 3

More than 3 percent of U.S.workers leave their jobs in a typical month.

Accepted Answer

A) True 
 B)False

Question 4

The unemployment rate never falls to zero.

Accepted Answer

A) True 
 B)False

Question 5

An economy's natural rate of unemployment is

Accepted Answer

A)   the economy's long-run target level of unemployment.
B)   the amount of unemployment that the economy normally experiences.
C)   the lowest rate of unemployment the economy can achieve.
D)   All of the above are correct.E) B) and C)
F) None of the above

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Following the recession of 2001,there was a month in which employment and the unemployment rate both rose.Assuming the computations were correct,how is it possible for both to have increased?

Accepted Answer

The rate of unemployment is measured as ...

Question 8

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.

Accepted Answer

A) True 
 B)False

Question 9

The deviation of unemployment from its natural rate is called cyclical unemployment.

Accepted Answer

A) True 
 B)False

Question 10

Job search is the process of matching workers with appropriate jobs.

Accepted Answer

A) True 
 B)False

Question 11

Efficiency wages,minimum-wage laws,and unions all

Accepted Answer

A)   keep wages below the equilibrium level,causing a shortage of labor.
B)   keep wages below the equilibrium level,causing a surplus of labor.
C)   keep wages above the equilibrium level,causing a shortage of labor.
D)   keep wages above the equilibrium level,causing a surplus of labor.E) None of the above
F) A) and D)

Question 12

The Bureau of Labor Statistics places people in the "employed" category if they

Accepted Answer

A)   are temporarily absent from their jobs.
B)   are self-employed.
C)   work without pay in a family member's business.
D)   All of the above are correct.E) A) and C)
F) A) and D)

Question 13

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

Question 14

The natural unemployment rate includes

Accepted Answer

A)   both frictional and structural unemployment.
B)   neither frictional nor structural unemployment.
C)   structural,but not frictional unemployment.
D)   frictional,but not structural unemployment.E) A) and B)
F) B) and C)

Question 15

Table 28-3
2003 Labor Data for Adults (age 16 and older) in Meditor
 
-Refer to Table 28-3.What is the adult population in Meditor?

Accepted Answer

A)   90 million
B)   160 million
C)   230 million
D)   240 millionE) A) and B)
F) A) and C)

Question 16

The labor force equals the

Accepted Answer

A)   number of people employed.
B)   number of people unemployed.
C)   number of people employed plus the number of people unemployed.
D)   adult population.E) All of the above
F) A) and C)

Question 17

Table 28-1
Labor Data for Wrexington
 
-Refer to Table 28-1.The unemployment rate of Wrexington in 2004 was

Accepted Answer

A)   10%.
B)   12.5%.
C)   14.3%.
D)   80%.E) B) and D)
F) A) and B)

Question 18

Who is included in the labor force by the Bureau of Labor Statistics?

Accepted Answer

A)   Azibo,a homemaker not looking for other work
B)   Kwamie,a full-time student not looking for work
C)   Geroy,who does not have a job,but is looking for work
D)   None of the above is correct.E) A) and C)
F) All of the above

Question 19

In Belgium,Norway,and Sweden,the percentage of workers who belong to unions is

Accepted Answer

A)   almost zero.
B)   less than it is in the United States.
C)   about the same as it is in the United States.
D)   greater than it is in the United States.E) A) and B)
F) A) and C)

Question 20

Frictional unemployment is inevitable because the economy is always changing.

Accepted Answer

A) True 
 B)False

Exam 28: Unemployment

The natural unemployment rate includes

Correct Answer
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The Wagner Act of 1935

Correct Answer
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The Bureau of Labor Statistics places people in the "employed" category if they

Correct Answer
verified

Table 28-3 2003 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 28-3.What is the adult labor-force participation rate in Meditor?

Correct Answer
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Frictional unemployment is inevitable because the economy is always changing.

Correct Answer
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Job search is the process of matching workers with appropriate jobs.

Correct Answer
verified

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The unemployment rate of Wrexington in 2004 was

Correct Answer
verified

An economy's natural rate of unemployment is

Correct Answer
verified

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.

Correct Answer
verified

The deviation of unemployment from its natural rate is called cyclical unemployment.

Correct Answer
verified

Table 28-3 2003 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 28-3.What is the adult population in Meditor?

Correct Answer
verified

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

Correct Answer
verified

Who is included in the labor force by the Bureau of Labor Statistics?

Correct Answer
verified

The unemployment rate never falls to zero.

Correct Answer
verified

The labor force equals the

Correct Answer
verified

In Belgium,Norway,and Sweden,the percentage of workers who belong to unions is

Correct Answer
verified

Following the recession of 2001,there was a month in which employment and the unemployment rate both rose.Assuming the computations were correct,how is it possible for both to have increased?

Correct Answer
verified
The rate of unemployment is measured as ...
View Answer

Correct Answer
verified

Efficiency wages,minimum-wage laws,and unions all

Correct Answer
verified

More than 3 percent of U.S.workers leave their jobs in a typical month.

Correct Answer
verified

Exam 28: Unemployment

The natural unemployment rate includes

Correct AnswerverifiedShow Answer

The Wagner Act of 1935

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics places people in the "employed" category if they

Correct AnswerverifiedShow Answer

Table 28-3 2003 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 28-3.What is the adult labor-force participation rate in Meditor?

Correct AnswerverifiedShow Answer

Frictional unemployment is inevitable because the economy is always changing.

Correct AnswerverifiedShow Answer

Job search is the process of matching workers with appropriate jobs.

Correct AnswerverifiedShow Answer

Table 28-1 Labor Data for Wrexington -Refer to Table 28-1.The unemployment rate of Wrexington in 2004 was

Correct AnswerverifiedShow Answer

An economy's natural rate of unemployment is

Correct AnswerverifiedShow Answer

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.

Correct AnswerverifiedShow Answer

The deviation of unemployment from its natural rate is called cyclical unemployment.

Correct AnswerverifiedShow Answer

Table 28-3 2003 Labor Data for Adults (age 16 and older) in Meditor -Refer to Table 28-3.What is the adult population in Meditor?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Who is included in the labor force by the Bureau of Labor Statistics?

Correct AnswerverifiedShow Answer

The unemployment rate never falls to zero.

Correct AnswerverifiedShow Answer

The labor force equals the

Correct AnswerverifiedShow Answer

In Belgium,Norway,and Sweden,the percentage of workers who belong to unions is

Correct AnswerverifiedShow Answer

Following the recession of 2001,there was a month in which employment and the unemployment rate both rose.Assuming the computations were correct,how is it possible for both to have increased?

Correct AnswerverifiedThe rate of unemployment is measured as ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Efficiency wages,minimum-wage laws,and unions all

Correct AnswerverifiedShow Answer

More than 3 percent of U.S.workers leave their jobs in a typical month.

Correct AnswerverifiedShow Answer

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The rate of unemployment is measured as ...
View Answer

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