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Exam 15: Unemployment

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Question 181

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In which of the following situations should a firm pay efficiency wages?

A) A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs.
B) A hiring manager can easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs.
C) A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend to look for other jobs.
D) A hiring manager cannot easily judge the quality of applicants, and after workers have worked for the firm a while, they tend not to look for other jobs.

E) None of the above
F) A) and B)

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Question 182

Multiple Choice

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Wages in excess of their equilibrium level help explain

A) structural unemployment but not the natural rate of unemployment.
B) the natural rate of unemployment but not structural unemployment.
C) both structural unemployment and the natural rate of unemployment.
D) neither structural unemployment nor the natural rate of unemployment.

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

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Question 183

Multiple Choice

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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 in Meditor?

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a shortage of labor.

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

The Bureau of Labor Statistics defines discouraged workers as marginally attached workers who have given a job- market related reason for not currently looking for a job.

If changing consumer preferences increase the demand for satellite radios and decrease the demand for video cassette recorders, the economy will likely exhibit

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

Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $2, how many workers will be unemployed?

More than one-third of the unemployed are recent entrants into the labor force.

Explain how the actions of labor unions generate greater unemployment.

The production of which of the following goods was among the four industries with the largest employment in the United States a century ago?

Labor unions

Which of the following helps to reduce frictional unemployment?

Unemployment insurance reduces hardships of unemployment but also increases the amount of structural unemployment.

Figure 28-7 -Refer to Figure 28-7. If the minimum wage increases from $100 to $125, how many additional workers will be unemployed?

Minimum-wage laws are most likely to affect the wages paid to

If the number of people unemployed rose but the number of people employed and the adult population stayed the same, then the labor force participation rate would rise.

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

If outsiders had more say in union contracts then it is likely that union wages would be