Chapter 28 Unemployment Sec00 Unemployment MULTIPLE CHOICE 1 To maintain their standard of living, most people rely on a government assistance b their personal savings c their labor earnings d rental[.]
Chapter 28 Unemployment Sec00 - Unemployment MULTIPLE CHOICE 10 To maintain their standard of living, most people rely on a government assistance b their personal savings c their labor earnings d rental income The amount of unemployment that an economy normally experiences is called the a average rate of unemployment b natural rate of unemployment c cyclical rate of unemployment d typical rate of unemployment Cyclical unemployment is closely associated with a long-term economic growth b short-run ups and downs of the economy c fluctuations in the natural rate of unemployment d changes in the minimum wage Sec01 - Unemployment - Identifying Unemployment MULTIPLE CHOICE 35 41 80 The sum of which of the following must be equal to the adult population? a employed, unemployed b employed, unemployed, labor force c employed, unemployed, not in the labor force d employed, unemployed, labor force, not in the labor force The labor-force participation rate measures the percentage of the a total adult population that is in the labor force b total adult population that is employed c labor force that is employed d labor force that is either employed or unemployed Suppose that the adult population is million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75% What is the unemployment rate? a 6.25% b 8.3% c 9.1% d 18.75% Sec02 - Unemployment - Job Search MULTIPLE CHOICE Job search a is one reason economies always experience some unemployment b is the process of matching workers with appropriate jobs c would not be a problem if all workers and all jobs were the same d All of the above are correct Sec03 - Unemployment - Minimum-Wage Laws MULTIPLE CHOICE When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it a raises the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level b raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level c reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level d reduces the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level Sec04 - Unemployment - Unions and Collective Bargaining MULTIPLE CHOICE When a union raises the wage above the equilibrium level, it a reduces both the quantity of labor supplied and the quantity of labor demanded, resulting in unemployment b reduces the quantity of labor supplied and raises the quantity of labor demanded, resulting in unemployment c raises the quantity of labor supplied and reduces the quantity of labor demanded, resulting in unemployment d raises both the quantity of labor supplied and the quantity of labor demanded, resulting in unemployment Sec05 - Unemployment - The Theory of Efficiency Wages MULTIPLE CHOICE Which of the following causes of unemployment is associated with a wage rate above the market equilibrium level? a minimum-wage laws b unions c efficiency wages d All of the above are correct Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level? a efficiency wages b job search c minimum-wage laws d unions ... resulting in unemployment d raises both the quantity of labor supplied and the quantity of labor demanded, resulting in unemployment Sec05 - Unemployment - The Theory of Efficiency Wages MULTIPLE CHOICE. .. quantity of labor demanded compared to the equilibrium level Sec04 - Unemployment - Unions and Collective Bargaining MULTIPLE CHOICE When a union raises the wage above the equilibrium level, it... the above are correct Which of the following causes of unemployment is not associated with a wage rate above the market equilibrium level? a efficiency wages b job search c minimum-wage laws d