FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 28: Unemployment and Its Natural Rate

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 131

True/False

Review LaterAdd Note

Review Later

Sectoral shifts temporarily cause unemployment.

A) True
B) False

Correct Answer

verified

Show Answer

Question 132

True/False

Review LaterAdd Note

Review Later

The Bureau of Labor Statistics produces data on unemployment based on the number of people collecting unemployment insurance.

A) True
B) False

Correct Answer

verified

Show Answer

Question 133

True/False

Review LaterAdd Note

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.

Write the formula for calculating the unemployment rate.

In the 1940s and 1950s, about one-third of U.S. workers belonged to unions, but today, only about one-fifth of U.S. workers belong to unions.

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.

The Bureau of Labor Statistics produces data on unemployment by using data on claims filed for unemployment insurance.

The natural rate of unemployment is constant over time.

Table 28-3 ​ ​ $\begin{array} { | l | l | } \hline \text { Civilian labor force } & 100 \text { million } \\\hline \text { Persons unemployed } 15 \text { weeks or longer } & 1.6 \text { million } \\\hline \text { Job losers and persons who have completed temporary jobs (excludes job leavers) } & 3.1 \text { million } \\\hline \text { Total unemployed } & 6.2 \text { million } \\\hline \text { Total unemployed plus discouraged workers } & 7.0 \text { million } \\\hline \text { Total unemployed plus all marginally attached workers } & 8.1 \text { million } \\\hline \text { Total unemployed plus all marginally attached workers plus total employed part-time } & 9.2 \text { million } \\\text { for economic reasons } & \\\hline\end{array}$ -Refer to Table 28-3. What is the U-2 measure of labor underutilization?

Table 28-6 The table below lists the number of people by labor force classification for the country of Shelbyville. $\begin{array} { | l | l | } \hline \text { Employed } & 80 \text { million } \\\hline \text { Unemployed } & 20 \text { million } \\\hline \text { Not in the Labor Force } & 60 \text { million } \\\hline\end{array}$ -Refer to Table 28-6. What is the size of the labor force, and the size of the adult population?

Frictional unemployment results from

Labor unions

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

Serena has just finished high school and started looking for her first job, but has not yet found one. Other things the same, the unemployment rate

Table 28-5 2015 Labor Data for Tajnia $\begin{array} { | l | l | } \hline \text { Number of adults employed } & 10,000 \\\hline \text { Number of adults unemployed } & 2,250 \\\hline \text { Number of adults not in the labor force } & 17,750 \\\hline\end{array}$ -Refer to Table 28-5. The total adult population of Tajnia in 2015 is 30,000.

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.

The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment.

There is no easy way for policymakers to reduce the economy's natural rate of unemployment while at the same time reducing the hardships of the unemployed.

The Bureau of Labor Statistics' U-1 measure of joblessness includes only very long-term unemployed.

Esmeralda worked part-time for her mother's business without pay. Tatiana was absent from work because she had strep throat. Who is counted as "employed" by the Bureau of Labor Statistics?