Question 1

The structural transformation from 1950 to 2000 has caused total employment to in the agricultural sector and in the manufacturing sector.

Accepted Answer

A)   decrease,increase
B)   decrease,decrease
C)   increase,increase
D)   increase,decrease
E)   decrease,remain the sameF) A) and B)
G) B) and D)

Question 2

During 2008,the number of marginally attached workers,while the unemployment rate .

Accepted Answer

A)   stayed the same,increased
B)   increased,increased
C)   decreased,increased
D)   stayed the same,stayed the same
E)   stayed the same,decreasedF) D) and E)
G) A) and B)

Question 3

What is the worker's nominal wage in 2002?

Accepted Answer

A)   $20,488
B)   $23,590
C)   $35,000
D)   $42,000
E)   $70,000F) B) and E)
G) B) and D)

Question 4

Which of the following is a true statement about trends in the U.S.labor force between 1950 and 2000?

Accepted Answer

A)   The male labor force participation rate has increased steadily.
B)   The unemployment rate peaked during the Carter administration (1976-1980) .
C)   The female labor force participation rate has declined.
D)   The increase in the labor force participation rate was caused by women joining the labor force.
E)   The size of the labor force has not grown much over the past 50 years.F) B) and E)
G) A) and B)

Question 5

What is the unemployment rate?

Accepted Answer

A)   1.8%
B)   2.0%
C)   2.2%
D)   2.4%
E)   97.6%F) All of the above
G) D) and E)

Question 6

The National Compensation Survey (NCS) ,published by the Bureau of Labor Statistics,is problematic.Which of the following is not one of the reasons it is problematic?

Accepted Answer

A)   Rankings vary based on whether the hourly wage is used or the annual earnings.
B)   The NCS is based on a sample,thus exposing it to sampling error.
C)   The rankings are based on the median response,making it biased toward outliers.
D)   Rankings are calculated using the mean wage,which biases the estimates.
E)   The rankings vary because different occupations work a different number of hours.F) B) and C)
G) A) and B) C

Question 7

Which of the following is not a true statement about the Consumer Price Index (CPI) ?

Accepted Answer

A)   The CPI is based on a fixed bundle of goods.
B)   The CPI is not adjusted spatially and has the same value for all urban areas.
C)   The CPI is used to calculate cost of living adjustments.
D)   The CPI overstates true changes in the cost of living,because it does not allow for substitution among goods.
E)   The CPI does not allow for the inclusion of new goods.F) D) and E)
G) A) and B)

Question 8

Which of the following groups are not considered to be out of the labor force?

Accepted Answer

A)   students
B)   stay-at-home parents
C)   discouraged workers
D)   marginally attached workers
E)   unemployed workersF) D) and E)
G) A) and D)

Question 9

The labor force is made up of

Accepted Answer

A)   the entire working population.
B)   the entire working population over the age of 16.
C)   the entire working population over the age of 16 who currently have a job.
D)   the entire working population over the age of 16 who are looking for a job or currently have a job.
E)   the entire working population over the age of 16 and individuals in prison.F) B) and D)
G) B) and E)

Question 10

Suppose that the facts are as follows:  Which city pays the highest real wage?

Accepted Answer

A)   I
B)   II
C)   III
D)   IV
E)   VF) A) and E)
G) B) and E)

Question 11

What is the most commonly used normative criterion?

Accepted Answer

A)   Pareto efficiency
B)   fairness
C)   equality
D)   marginal productivity
E)   rational choiceF) A) and B)
G) C) and D) A

Question 12

What is the employment-to-population rate?

Accepted Answer

A)   2.4%
B)   72.7%
C)   74.5%
D)   78.4%
E)   88.9%F) C) and D)
G) B) and E)

Question 13

Which year did the worker have the highest real wages?

Accepted Answer

A)   1996
B)   1999
C)   2002
D)   2006
E)   none of the aboveF) All of the above
G) B) and E)

Question 14

What is the worker's real wage in 2002?

Accepted Answer

A)   $20,488
B)   $23,590
C)   $35,000
D)   $42,000
E)   $70,000F) A) and E)
G) A) and B) B

Question 15

The straight time hourly wage equals

Accepted Answer

A)   wages plus overtime plus holiday payments.
B)   the hourly wage times hours worked.
C)   the hourly wage times hours worked plus fringe benefits.
D)   the hourly wage.
E)   the hourly wage plus the hourly value of benefits for the worker.F) C) and D)
G) C) and E)

Question 16

Which of the following groups are not part of the working population?

Accepted Answer

A)   individuals over the age of 16 who can work but currently are not looking for a job
B)   individuals over the age of 16 and currently working
C)   individuals over the age of 16 and are in prison
D)   individuals over the age of 16 who are not working but are looking for a job
E)   both A and CF) A) and E)
G) A) and D)

Question 17

Which of the following is a true statement about marginally attached workers?

Accepted Answer

A)   The individual has looked for a job within the past year,but not within the past month.
B)   A marginally attached worker is a subset of the group considered to be discouraged workers.
C)   The reason marginally attached workers are not looking for work is always because they do not believe there is a job for them.
D)   The individual would like a job but has not looked for a job in the past two years.
E)   Marginally attached workers are considered part of the labor force.F) B) and D)
G) A) and B)

Question 18

What is the labor force participation rate?

Accepted Answer

A)   2.4%
B)   72.7%
C)   74.5%
D)   78.4%
E)   88.9%F) B) and D)
G) A) and B)

Question 19

What is the employment rate?

Accepted Answer

A)   1.8%
B)   2.0%
C)   2.2%
D)   2.4%
E)   97.6%F) C) and D)
G) C) and E)

Question 20

Which of the following individuals would be considered employed,according to the Bureau of Labor Statistics glossary?

Accepted Answer

A)   a stay-at-home dad who works 40 hours a week taking care of his family
B)   a mother who works 20 hours a week for her husband's business,but is never paid
C)   an individual who was recently laid off and has not found another job yet
D)   an elderly woman who retires from her job but still volunteers
E)   a girl who is 15 working part time at a local grocery storeF) A) and D)
G) A) and B)

Exam 2: The Uslabor Market

The structural transformation from 1950 to 2000 has caused total employment to in the agricultural sector and in the manufacturing sector.

Correct AnswerverifiedShow Answer

During 2008,the number of marginally attached workers,while the unemployment rate .

Correct AnswerverifiedShow Answer

What is the worker's nominal wage in 2002?

Correct AnswerverifiedShow Answer

Which of the following is a true statement about trends in the U.S.labor force between 1950 and 2000?

Correct AnswerverifiedShow Answer

What is the unemployment rate?

Correct AnswerverifiedShow Answer

The National Compensation Survey (NCS) ,published by the Bureau of Labor Statistics,is problematic.Which of the following is not one of the reasons it is problematic?

Correct AnswerverifiedC

Which of the following is not a true statement about the Consumer Price Index (CPI) ?

Correct AnswerverifiedShow Answer

Which of the following groups are not considered to be out of the labor force?

Correct AnswerverifiedShow Answer

The labor force is made up of

Correct AnswerverifiedShow Answer

Suppose that the facts are as follows: Which city pays the highest real wage?

Correct AnswerverifiedShow Answer

What is the most commonly used normative criterion?

Correct AnswerverifiedA

What is the employment-to-population rate?

Correct AnswerverifiedShow Answer

Which year did the worker have the highest real wages?

Correct AnswerverifiedShow Answer

What is the worker's real wage in 2002?

Correct AnswerverifiedB

The straight time hourly wage equals

Correct AnswerverifiedShow Answer

Which of the following groups are not part of the working population?

Correct AnswerverifiedShow Answer

Which of the following is a true statement about marginally attached workers?

Correct AnswerverifiedShow Answer

What is the labor force participation rate?

Correct AnswerverifiedShow Answer

What is the employment rate?

Correct AnswerverifiedShow Answer

Which of the following individuals would be considered employed,according to the Bureau of Labor Statistics glossary?

Correct AnswerverifiedShow Answer

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C

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A

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B

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