Question 1

Minimum-wage laws affect all workers.

Accepted Answer

A) True 
 B)False

Question 2

Within the U.S., blacks have higher rates of unemployment than whites.

Accepted Answer

A) True 
 B)False

Question 3

The Bureau of Labor Statistics' "employed" category includes those who worked as paid employees, worked in their own business, or worked as unpaid workers in a family member's business.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Meredith recently graduated from college but has not yet started working. To be counted as unemployed she

Accepted Answer

A)  does not have to have looked for work.
B)  must have looked for work no more than a week ago.
C)  must have looked for work no more than 4 weeks ago.
D)  must have looked for work no more than 12 weeks ago.

Question 6

Employment can rise in one region of the country while it falls in another.

Accepted Answer

A) True 
 B)False

Question 7

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.

Question 8

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Accepted Answer

A)  certain unpaid workers
B)  part-time workers
C)  workers on vacation
D)  All of the above are correct.

Question 9

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Accepted Answer

A)  always zero.
B)  sometimes zero.
C)  rarely zero.
D)  never zero.

Question 10

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Accepted Answer

A) True 
 B)False

Question 11

Evidence indicates that the typical person who becomes unemployed will

Accepted Answer

A)  soon find a job.
B)  find a job, but not before a year or more has gone by.
C)  leave the labor force and never return.
D)  retire soon after

Question 12

Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret.

Accepted Answer

A) True 
 B)False

Question 13

Suppose that telemarketers are not unionized. If they unionize, then the supply of labor in other sectors of the economy will

Accepted Answer

A)  decrease, raising wages in industries that are not unionized.
B)  decrease, reducing wages in industries that are not unionized.
C)  increase, raising wages in industries that are not unionized.
D)  increase, reducing wages in industries that are not unionized.

Question 14

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

Accepted Answer

A)  monthly survey of about 60,000 households
B)  monthly survey of about 6,000 households
C)  weekly survey of about 60,000 households
D)  weekly survey of about 6,000 households

Question 15

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Accepted Answer

A) True 
 B)False

Question 16

Consumers decide to ride bikes more and drive cars less. Bicycle companies expand production while automobile companies fire workers. This is an example of

Accepted Answer

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

Question 17

Which of the following is correct?

Accepted Answer

A)  The BLS 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 BLS.
D)  People working part time are counted as employed by the BLS.

Question 18

The adult population must equal the sum of the employed, the unemployed, and those not in the labor force.

Accepted Answer

A) True 
 B)False

Question 19

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 20

The adult population must equal the sum of the employed and the unemployed.

Accepted Answer

A) True 
 B)False

Exam 15: Unemployment

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is

Correct AnswerverifiedShow Answer

The Bureau of Labor Statistics' "employed" category includes those who worked as paid employees, worked in their own business, or worked as unpaid workers in a family member's business.

Correct AnswerverifiedShow Answer

Evidence indicates that the typical person who becomes unemployed will

Correct AnswerverifiedShow Answer

Who of the following are included in the Bureau of Labor Statistics' "employed" category?

Correct AnswerverifiedShow Answer

Employment can rise in one region of the country while it falls in another.

Correct AnswerverifiedShow Answer

Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret.

Correct AnswerverifiedShow Answer

Almost half of all spells of unemployment end when the unemployed person leaves the labor force.

Correct AnswerverifiedShow Answer

Which of the following is correct?

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

Suppose that telemarketers are not unionized. If they unionize, then the supply of labor in other sectors of the economy will

Correct AnswerverifiedShow Answer

Minimum-wage laws affect all workers.

Correct AnswerverifiedShow Answer

The adult population must equal the sum of the employed and the unemployed.

Correct AnswerverifiedShow Answer

Unemployment numbers reported by the Bureau of Labor Statistics are reported based on a

Correct AnswerverifiedShow Answer

The natural unemployment rate includes

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The adult population must equal the sum of the employed, the unemployed, and those not in the labor force.

Correct AnswerverifiedShow Answer

Meredith recently graduated from college but has not yet started working. To be counted as unemployed she

Correct AnswerverifiedShow Answer

Within the U.S., blacks have higher rates of unemployment than whites.

Correct AnswerverifiedShow Answer

A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive.

Correct AnswerverifiedShow Answer

Consumers decide to ride bikes more and drive cars less. Bicycle companies expand production while automobile companies fire workers. This is an example of

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified