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Economics Chapter 20

Isidro Clark avatar Isidro Clark
27 October 2023
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question
The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about
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60,000 households.
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Which of the following includes everyone in the adult population that the Bureau of Labor Statistics counts as unemployed?
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anyone who is not employed, is available for work, has looked for work in the past 4 weeks, and anyone who is waiting to be recalled from a job from which they have been laid off
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In June 2009 the BLS reported an adult population of 234.9 million, unemployment of 12.4 million, and employment of 141.6 million. Based on these numbers the labor-force participation rate was
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154/234.9.
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Which of the following is not a cause of the changing role of women in American society over the past several decades?
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scientists have shown that women are better employees than men
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Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then
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the unemployment rate would be lower and the labor-force participation rate would be unaffected.
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Some persons are counted as out of the labor force because they have made no serious or recent effort to look for work. However, some of these individuals may want to work even though they are too discouraged to make a serious effort to look for work. If these individuals were counted as unemployed instead of out of the labor force, then
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both the unemployment rate and labor-force participation rate would be higher
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Suppose that some people are counted as unemployed when, to maintain unemployment compensation, they search for work only at places where they are unlikely to be hired. If these individuals were counted as out of the labor force instead of as unemployed, then
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both the unemployment rate and labor-force participation rate would be lower.
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Sectoral shifts in demand for output
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increase unemployment due to job search
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Frictional unemployment is
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inevitable, because at any given time, jobs are being created in some firms and destroyed in other firms.
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More generous unemployment insurance would
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raise frictional unemployment.
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Providing training for unemployed individuals is primarily intended to reduce
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frictional unemployment.
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Unemployment that results because the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one is called
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structural unemployment.
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The natural unemployment rate includes
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both frictional and structural unemployment.
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Unions contribute to
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structural but not frictional unemployment.
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The theory of efficiency wages provides a possible explanation as to why
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firms may be inclined to keep their workers' wages above the equilibrium level
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Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category
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False
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People who report being unemployed but who, in fact, are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be.
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True
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Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost.
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True
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The adult population must equal the sum of the employed and the unemployed.
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False
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Structural unemployment results when wages are, for some reason, set above the level that brings supply and demand into equilibrium.
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True