Ngân hàng đề thi câu hỏi trắc nghiệm kinh tế vi mô (principle of economics mankiw 2018)

Toàn bộ những gì bạn cần để qua môn kinh tế học, tài liệu này tập hợp những câu hỏi trắc nghiệm mới nhất của kinh tế vi mô năm 2018. Về nội dung tài liệu, với các khái niệm phổ biến và khái quát nhất về kinh tế vi mô cũng như những giải thích về các cơ chế hoạt động của nền kinh tế, bộ giáo trình bao gồm 23 phần cung cấp cho người đọc các kiến thức khá toàn diện và chuyên sâu về các nguyên lý kinh tế học như các lý thuyết cổ điển, các lý thuyết về phát triển: nền kinh tế trong dài hạn, các lý thuyết về vòng tròn kinh tế: nền kinh tế trong ngắn hạn, các yếu tố vi mô ẩn sau kinh tế vĩ mô, các tranh luận về chính sách vĩ mô… Tất cả đều được giải thích và đánh giá bởi một vị giáo sư kinh tế hàng đầu trên thế giới. Các khái niệm trong sách được định nghĩa rất rõ ràng, dễ nắm bắt, dễ hiểu, có tóm tắt các chương tạo điều kiện tốt nhất cho việc ôn tập

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TRUE/FALSE

1 Most people rely on income other than their labor earnings to maintain their standard of living

NAT: Analytic LOC: The study of economics and definitions of economics

TOP: Income | Standard of living MSC: Definitional

2 The amount of unemployment that a country typically experiences is a determinant of that country's standard

of living

NAT: Analytic LOC: Unemployment and inflation

TOP: Unemployment | Standard of living MSC: Definitional

3 Some degree of unemployment is inevitable in a complex economy

NAT: Analytic LOC: Unemployment and inflation TOP: Unemployment

MSC: Definitional

4 The amount of unemployment varies little over time and across countries

MSC: Definitional

5 When a country keeps its workers as fully employed as possible, it achieves a higher level of GDP than it would if it left many of its workers standing idle

6 An economy’s natural rate of unemployment refers to the amount of unemployment that the economy

normally experiences

TOP: Natural rate of unemployment MSC: Definitional

7 Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate

NAT: Analytic LOC: Unemployment and inflation TOP: Cyclical unemployment

MSC: Definitional

8 The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity

9 The natural rate of unemployment is the desirable rate of unemployment for an economy

10 The natural rate of unemployment is constant over time

1872

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11 The natural rate of unemployment is impervious to economic policy.

12 Government policy can do nothing about the natural rate of unemployment

TOP: Natural rate of unemployment MSC: Interpretive

13 The natural rate of unemployment is a type of unemployment that does not go away on its own even in the long run

14 Long-run unemployment arises from a single problem that has a single solution

15 There is no easy way for policymakers to reduce the economy’s natural rate of unemployment

16 Measuring unemployment is the job of the Bureau of Labor Statistics

NAT: Analytic LOC: Unemployment and inflation TOP: Bureau of Labor Statistics

MSC: Definitional

17 Measuring unemployment is the job of the Bureau of Labor Statistics, which is part of the U.S Department of Commerce

MSC: Definitional

18 Every week, the Bureau of Labor Statistics produces data on unemployment

MSC: Definitional

19 The Bureau of Labor Statistics produces data on unemployment, types of employment, length of the average workweek, and the duration of unemployment

MSC: Definitional

20 The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 600 households, called the Current Population Survey

MSC: Definitional

21 The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Current Population Survey

MSC: Definitional

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22 The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the Census.

NAT: Analytic LOC: Unemployment and inflation TOP: Bureau of Labor StatisticsMSC: Definitional

23 The Bureau of Labor Statistics places each adult (aged 16 and older) of each surveyed household into one of three categories: employed, unemployed, and not in the labor force

24 The Bureau of Labor Statistics places each adult (aged 16 and older) of each surveyed household into one of four categories: employed, underemployed, unemployed, and not in the labor force

25 The Bureau of Labor Statistics’ “employed” category includes those who worked as paid employees, worked

in their own business, or worked as unpaid workers in a family member’s business

TOP: Bureau of Labor Statistics | Employment MSC: Definitional

26 Only paid workers are included in the Bureau of Labor Statistics’ “employed” category

TOP: Bureau of Labor Statistics | Employment MSC: Interpretive

27 Both full-time and part-time workers are included in the Bureau of Labor Statistics’ “employed” category

28 Some adults who were not working are included in the Bureau of Labor Statistics’ “employed” category

29 Adults who were not working but who had jobs from which they were temporarily absent are included in the Bureau of Labor Statistics’ “employed” category

30 Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau

of Labor Statistics’ “employed” category

31 The Bureau of Labor Statistics’ “unemployed” category includes those who were not employed, were available for work, and had tried to find employment during the previous 4 weeks

TOP: Bureau of Labor Statistics | Unemployment MSC: Definitional

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32 Every adult who was not employed during the previous 4 weeks is included in the Bureau of Labor Statistics’

“unemployed” category

TOP: Bureau of Labor Statistics | Unemployment MSC: Interpretive

33 Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics’

“unemployed” category

34 Full-time students and homemakers are included in the Bureau of Labor Statistics’ “unemployed” category

35 Stay-at-home fathers are included in the Bureau of Labor Statistics’ “unemployed” category

36 Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau

of Labor Statistics’ “unemployed” category

TOP: Bureau of Labor Statistics | Unemployment MSC: Definitional

37 Retirees are included in the Bureau of Labor Statistics’ “not in the labor force” category

TOP: Bureau of Labor Statistics | Labor force MSC: Definitional

38 The adult population must equal the sum of the employed, the unemployed, and those not in the labor force

39 The adult population must equal the sum of the employed and the unemployed

40 The Bureau of Labor Statistics defines the labor force as the sum of the employed and the unemployed

TOP: Bureau of Labor Statistics | Labor force MSC: Definitional

41 The labor force minus the number of employed equals the number of unemployed

MSC: Interpretive

42 The Bureau of Labor Statistics defines the unemployment rate as the percentage of the adult population that is unemployed

TOP: Bureau of Labor Statistics | Unemployment rate MSC: Definitional

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43 The Bureau of Labor Statistics defines the unemployment rate as the percentage of the labor force that is unemployed.

44 The Bureau of Labor Statistics computes unemployment rates for the entire adult population and for more narrowly defined groups

45 The Bureau of Labor Statistics defines the labor-force participation rate as the percentage of the labor force that is employed

TOP: Bureau of Labor Statistics | Labor-force participation rate MSC: Definitional

46 The Bureau of Labor Statistics defines the labor-force participation rate as the percentage of the total adult population that is in the labor force

47 The labor-force participation rate is the percentage of the adult population that is either employed or

unemployed

TOP: Labor-force participation rate MSC: Interpretive

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

TOP: Labor-force participation rate MSC: Definitional

49 The labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market

50 The Bureau of Labor Statistics computes labor-force participation rates for the entire adult population and for more narrowly defined groups

Table 28-5

2010 Labor Data for Wrexington

Number of adults employed 10,000

Number of adults unemployed 2,250

Number of adults not in the labor force 17,750

51 Refer to Table 28-5 The total adult population of Wrexington in 2010 is 30,000.

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52 Refer to Table 28-5 The total adult population of Wrexington in 2010 is 12,250.

53 Refer to Table 28-5 The labor force of Wrexington in 2010 is 12,250.

TOP: Labor force MSC: Applicative

54 Refer to Table 28-5 The labor force of Wrexington in 2010 is 10,000.

55 Refer to Table 28-5 The unemployment rate of Wrexington in 2010 is about 18.4 percent.

NAT: Analytic LOC: Unemployment and inflation TOP: Unemployment rate

MSC: Applicative

56 Refer to Table 28-5 The unemployment rate of Wrexington in 2010 is about 7.5 percent.

MSC: Applicative

57 Refer to Table 28-5 The labor-force participation rate of Wrexington in 2010 is about 40.8 percent.

TOP: Labor-force participation rate MSC: Applicative

58 Refer to Table 28-5 The labor-force participation rate of Wrexington in 2010 is about 33.3 percent.

59 Within the U.S population, women ages 20 and older have lower rates of labor-force participation than men

60 Within the U.S population, women ages 20 and older have similar rates of labor-force participation as men

61 Within the U.S population, men and women have similar rates of unemployment

MSC: Definitional

62 Within the U.S population, women have higher rates of unemployment than men

MSC: Definitional

63 Within the U.S population, blacks ages 20 and older have similar rates of labor-force participation as whites

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64 Within the U.S population, blacks ages 20 and older have lower rates of labor-force participation than whites.

65 Within the U.S population, blacks have higher rates of unemployment than whites

MSC: Definitional

66 Within the U.S population, blacks and whites have similar rates of unemployment

MSC: Definitional

67 Within the U.S population, teenagers have lower rates of labor-force participation than older workers

68 Within the U.S population, teenagers have similar rates of labor-force participation as older workers

69 Within the U.S population, teenagers have higher rates of unemployment than older workers

MSC: Definitional

70 Within the U.S population, teenagers have similar rates of unemployment as older workers

MSC: Definitional

71 Data on the unemployment rate in the U.S since 1960 show that the economy always has some unemploymentand that the amount changes from year to year

MSC: Definitional

72 Data on the unemployment rate in the U.S since 1960 show that the unemployment rate sometimes is zero

MSC: Interpretive

73 The normal rate of unemployment around which the unemployment rate fluctuates is called the natural rate of unemployment

74 The normal rate of unemployment around which the unemployment rate fluctuates is called cyclical

unemployment

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75 The deviation of unemployment from its natural rate is called cyclical unemployment.

MSC: Definitional

76 Economists at the Congressional Budget Office estimated that for 2007, the U.S natural rate of unemploymentwas 4.8 percent

77 In 2007, the U.S natural rate of unemployment was estimated to be 4.8 percent, which was close to the actual rate of unemployment of 4.6 percent

78 Causes of the changing role of women in American society over the past several decades include new

technologies that have reduced the amount of time required to complete routine household tasks, improved birth control, and changing political and social attitudes

TOP: Role of women MSC: Interpretive

79 Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S has gradually decreased

80 Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S has gradually increased

81 Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had decreased

82 Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady

83 Causes of the decline in the U.S men’s labor-force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did, older men now retiring earlierand living longer, and more fathers now staying at home to raise their children

84 Even though the difference in labor-force participation rates of U.S males and females has narrowed, the labor-force participation rate of males remains higher than that of females

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85 Measuring the amount of unemployment in the economy is a straightforward task.

MSC: Definitional

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

MSC: Definitional

87 More than three-fourths of the unemployed are recent entrants into the labor force

MSC: Definitional

88 Not all unemployment ends with the job seeker finding a job

MSC: Definitional

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

MSC: Definitional

90 Almost nine-tenths of all spells of unemployment end when the unemployed person leaves the labor force

MSC: Definitional

91 Because people move into and out of the labor force so often, statistics on unemployment are difficult to interpret

MSC: Definitional

92 People who report being unemployed but who, in fact, are not trying hard to find a job are really not in the labor force and therefore cause the reported unemployment rate to be higher than it would otherwise be

MSC: Interpretive

93 Rupert is collecting unemployment insurance benefits To continue to receive his benefits, he must be lookingfor work Because he’d like to continue collecting benefits rather than take a job, he applies at places that are unlikely to hire him People like Rupert make the reported unemployment rate less than it would otherwise be

MSC: Interpretive

94 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

MSC: Interpretive

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95 People who report being not in the labor force but who, in fact, want to work but have given up trying to find ajob after an unsuccessful search are really unemployed and therefore cause the reported unemployment rate to

be lower than it would otherwise be

MSC: Interpretive

96 Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessfulsearch

NAT: Analytic LOC: Unemployment and inflation TOP: Discouraged workers

MSC: Definitional

97 It is best to view the official unemployment rate as a useful but imperfect measure of joblessness

MSC: Definitional

98 The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate

MSC: Interpretive

99 The Bureau of Labor Statistics defines marginally attached workers as persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past

TOP: Bureau of Labor Statistics | Marginally attached workers MSC: Definitional

100 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

TOP: Bureau of Labor Statistics | Discouraged workers MSC: Definitional

101 The Bureau of Labor Statistics’ U-1 measure of joblessness is smaller than its U-6 measure of joblessness

TOP: Bureau of Labor Statistics | U-1 | U-6 MSC: Interpretive

102 The Bureau of Labor Statistics’ U-1 measure of joblessness is larger than its U-6 measure of joblessness

TOP: Bureau of Labor Statistics | U-1 | U-6 MSC: Interpretive

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

TOP: Bureau of Labor Statistics | U-1 MSC: Interpretive

104 The Bureau of Labor Statistics’ U-2 measure of joblessness includes job losers and job leavers

105 The Bureau of Labor Statistics’ U-3 measure of joblessness is the official unemployment rate

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106 The Bureau of Labor Statistics’ U-4 measure of joblessness includes discouraged workers.

107 The Bureau of Labor Statistics’ U-5 measure of joblessness is the official unemployment rate

108 The Bureau of Labor Statistics’ U-5 measure of joblessness includes marginally attached workers

109 Most spells of unemployment are short, and most unemployment observed at any given time is long-term

MSC: Definitional

110 Most spells of unemployment are long, and most unemployment observed at any given time is short-term

MSC: Definitional

111 Most spells of unemployment are short, and most unemployment observed at any given time is short-term

MSC: Definitional

112 Most spells of unemployment are long, and most unemployment observed at any given time is long-term

MSC: Definitional

113 Data on unemployment indicate that most people who become unemployed will soon find jobs

MSC: Interpretive

114 In an ideal labor market, wages would adjust to balance the quantity of labor supplied and the quantity of labordemanded, ensuring that all workers are always fully employed

MSC: Definitional

115 There are always some workers without jobs, even when the overall economy is doing well

MSC: Definitional

116 The unemployment rate never falls to zero

MSC: Definitional

117 The unemployment rate sometimes falls to zero

MSC: Definitional

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118 One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are bestsuited for them.

NAT: Analytic LOC: Unemployment and inflation TOP: Unemployment | Job searchMSC: Definitional

119 The unemployment that results from the process of matching workers and jobs is called frictional

unemployment

NAT: Analytic LOC: Unemployment and inflation TOP: Frictional unemployment

MSC: Definitional

120 The unemployment that results from the process of matching workers and jobs is called structural

unemployment

MSC: Definitional

121 Frictional unemployment is often thought to explain relatively short spells of unemployment

MSC: Definitional

122 Frictional unemployment is often thought to explain relatively long spells of unemployment

MSC: Definitional

123 Some long-run unemployment may be explained by the fact that the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one

MSC: Definitional

124 The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment

NAT: Analytic LOC: Unemployment and inflation TOP: Structural unemployment

MSC: Definitional

125 The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called frictional unemployment

MSC: Definitional

126 Structural unemployment is often thought to explain relatively long spells of unemployment

MSC: Definitional

127 Structural unemployment is often thought to explain relatively short spells of unemployment

MSC: Definitional

128 Structural unemployment results when wages are, for some reason, set above the level that brings supply and demand into equilibrium

MSC: Definitional

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129 Three possible reasons for an above-equilibrium wage are minimum-wage laws, unions, and efficiency wages.

MSC: Definitional

130 Every month, the Bureau of Labor Statistics surveys 160,000 business establishments to help determine the number of jobs the economy has gained or lost

TOP: Bureau of Labor Statistics | Jobs number MSC: Interpretive

131 The Bureau of Labor Statistics’ household survey and establishment survey both yield the same results about total employment

132 The Bureau of Labor Statistics’ household survey and establishment survey both yield information about unemployment

133 One reason economies always experience some unemployment is job search

NAT: Analytic LOC: Unemployment and inflation TOP: Unemployment | Job searchMSC: Definitional

134 Job search is the process of matching workers with appropriate jobs

NAT: Analytic LOC: Unemployment and inflation TOP: Job search

MSC: Definitional

135 If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then job search would not be a problem

MSC: Definitional

136 If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then there would be no frictional unemployment

MSC: Interpretive

137 Frictional unemployment is often the result of changes in the demand for labor among different firms

MSC: Definitional

138 The demand for labor by a certain firm fluctuates as the demand for that firm’s product fluctuates

MSC: Interpretive

139 The demand for labor by a certain firm is independent of the demand for that firm’s product

MSC: Interpretive

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140 Employment can rise in one region of the country while it falls in another.

TOP: Employment MSC: Definitional

141 Changes in the composition of demand among industries or regions are called sectoral shifts

142 Sectoral shifts temporarily cause unemployment

TOP: Sectoral shifts | Unemployment MSC: Definitional

143 Sectoral shifts contribute to frictional unemployment

TOP: Sectoral shifts | Frictional unemployment MSC: Interpretive

144 Frictional unemployment is inevitable because the economy is always changing

MSC: Definitional

145 A century ago, the four industries with the largest employment in the United States were cotton goods, woolengoods, men’s clothing, and lumber

146 Today, the four industries with the largest employment in the United States are autos, aircraft,

communications, and electrical components

147 Data show that at least 10 percent of U.S manufacturing jobs are destroyed every year

MSC: Definitional

148 Data show that at least 20 percent of U.S manufacturing jobs are destroyed every year

MSC: Definitional

149 More than 3 percent of U.S workers leave their jobs in a typical month

MSC: Definitional

150 More than 30 percent of U.S workers leave their jobs in a typical month

MSC: Definitional

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

MSC: Interpretive

152 Public policy can reduce the economy’s natural rate of unemployment

TOP: Public policy | Natural rate of unemployment MSC: Definitional

153 Public policy cannot reduce the economy’s natural rate of unemployment

154 Public policy can reduce frictional unemployment

TOP: Public policy | Frictional unemployment MSC: Interpretive

155 Policies that reduce the time it takes unemployed workers to find new jobs can reduce the economy’s natural rate of unemployment

156 Government-run employment agencies and public training programs both seek to reduce frictional

unemployment

157 Advocates of government-run employment agencies and public training programs believe they make job search more efficient

TOP: Public policy | Job search | Efficiency MSC: Interpretive

158 Critics of government-run employment agencies and public training programs argue that the private market is better at matching workers and jobs than the government is

NAT: Analytic LOC: Unemployment and inflation TOP: Public policy | Job search

MSC: Interpretive

159 Most job search in the U.S economy takes place without intervention by the government

MSC: Definitional

160 Most job search in the U.S economy takes place with the help of the government

MSC: Definitional

161 Public policy, without intending to do so, can increase frictional unemployment

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162 Unemployment insurance increases frictional unemployment.

TOP: Unemployment insurance | Frictional unemployment MSC: Definitional

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

TOP: Unemployment insurance | Frictional unemployment MSC: Interpretive

164 Unemployment insurance is designed to offer workers partial protection against job loss

NAT: Analytic LOC: Unemployment and inflation TOP: Unemployment insurance

MSC: Definitional

165 The unemployed who quit their jobs, were fired for cause, or just entered the labor force are not eligible for unemployment insurance

MSC: Definitional

166 The unemployed who quit their jobs, were fired for cause, or just entered the labor force are eligible for unemployment insurance

MSC: Definitional

167 A typical American worker covered by unemployment insurance receives 50 percent of his former wages for

52 weeks

MSC: Definitional

168 Unemployment insurance reduces the incentive for the unemployed to find and take new jobs

TOP: Unemployment insurance | Incentives MSC: Interpretive

169 Unemployment insurance causes workers to be less likely to seek guarantees of job security when they negotiate with employers over the terms of employment

MSC: Definitional

170 Studies have shown that the design of the unemployment insurance system reduces the job search effort of the unemployed

MSC: Interpretive

171 Some economists have argued that unemployment insurance improves the ability of the economy to match each worker with the most appropriate job

TOP: Economists | Unemployment insurance MSC: Definitional

172 The unemployment rate is an imperfect measure of a nation’s overall level of economic well-being

TOP: Unemployment rate | Economic well-being MSC: Definitional

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173 Most economists agree that eliminating unemployment insurance would increase the amount of

unemployment in the economy

TOP: Economists | Unemployment insurance MSC: Definitional

174 Most economists agree that eliminating unemployment insurance would increase the nation’s overall level of well-being

TOP: Economists | Unemployment insurance | Economic well-being

MSC: Definitional

175 Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefitsare likely to have higher unemployment rates

MSC: Interpretive

176 Structural unemployment results when the number of jobs is insufficient for the number of workers

MSC: Definitional

177 Minimum wages are the predominant reason for unemployment in the U.S economy

TOP: Minimum wage | Unemployment MSC: Definitional

178 When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level

MSC: Definitional

179 When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level

MSC: Definitional

180 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

MSC: Interpretive

181 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

MSC: Interpretive

182 When a minimum-wage law forces the wage to remain above the level that balances supply and demand, thereare more workers willing to work than there are jobs, so some workers are unemployed

TOP: Minimum wage | Unemployment MSC: Interpretive

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183 Minimum-wage laws are one reason there is always some unemployment in the U.S economy.

TOP: Minimum wage | Unemployment MSC: Definitional

184 Minimum-wage laws affect all workers

MSC: Interpretive

185 Most U.S workers have wages well above the legal minimum, so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand

MSC: Definitional

186 Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such

as teenagers

MSC: Definitional

187 It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment

TOP: Minimum wage | Unemployment MSC: Interpretive

188 If the wage is kept above the equilibrium level for any reason, the result is unemployment

NAT: Analytic LOC: Unemployment and inflation TOP: Wages | Unemployment

MSC: Definitional

189 If the wage is kept above the equilibrium wage for any reason, the result is structural unemployment

TOP: Wages | Structural unemployment MSC: Interpretive

190 If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is

unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment

NAT: Analytic LOC: Unemployment and inflation TOP: Wages | Unemployment

MSC: Interpretive

191 When job search is the explanation for unemployment, workers are searching for the jobs that best suit their tastes and skills, but when the wage is above the equilibrium level, the quantity of labor supplied exceeds the quantity of labor demanded, and workers are unemployed because they are waiting for jobs to open up

TOP: Frictional unemployment | Structural unemployment MSC: Definitional

192 U.S Department of Labor data show that minimum-wage workers tend to be young, less educated, more likely

to be working part time, and concentrated in the leisure and hospitality industry

NAT: Analytic LOC: Unemployment and inflation TOP: Minimum wage

MSC: Definitional

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193 A union is an employer association that bargains with workers over wages, benefits, and working conditions.

MSC: Definitional

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

MSC: Interpretive

195 Today, unions play a larger role in Europe than they do in the U.S

MSC: Interpretive

196 When a union is present in a labor market, wages are not determined by the equilibrium of supply and demand

MSC: Interpretive

197 A union is a type of cartel

MSC: Definitional

198 Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power

MSC: Definitional

199 The process by which unions and firms agree on the terms of employment is called collective bargaining

NAT: Analytic LOC: Labor markets

TOP: Unions | Collective bargaining MSC: Definitional

200 If a union and a firm cannot reach an agreement on the terms of employment, then the union can organize a withdrawal of labor from the firm, called a strike

MSC: Interpretive

201 Economists have found that union workers earn about 30 to 40 percent more than similar workers who do not belong to unions

NAT: Analytic LOC: Labor markets TOP: Economists | Unions | WagesMSC: Interpretive

202 When a union raises the wage above the equilibrium level, it reduces the quantity of labor supplied and raises the quantity of labor demanded, resulting in unemployment

MSC: Definitional

203 The introduction of a union into a firm benefits all of that firm’s workers

MSC: Interpretive

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204 Some of a firm’s workers are made worse off by the introduction of a union.

MSC: Interpretive

205 Unions are often thought to cause conflict between different groups of workers between the insiders who benefit from high union wages and the outsiders who do not get the union jobs

MSC: Interpretive

206 When unions raise wages in one part of the economy, the supply of labor increases in other parts of the economy, which reduces wages in industries that are not unionized

MSC: Interpretive

207 Workers in unions reap the benefit of collective bargaining, while workers not in unions bear some of the cost

MSC: Definitional

208 Unions are exempt from U.S antitrust laws

MSC: Definitional

209 In the U.S., it is illegal for employers to interfere when workers try to organize unions

MSC: Interpretive

210 In the U.S., the National Labor Relations Board is the government agency that enforces workers’ right to unionize

TOP: Unions | National Labor Relations Board MSC: Definitional

211 Right-to-work laws give workers in a unionized firm the right to choose whether to join the union

NAT: Analytic LOC: Labor markets TOP: Unions | Right-to-work lawsMSC: Definitional

212 Right-to-work laws allow striking union members to be permanently replaced

NAT: Analytic LOC: Labor markets TOP: Unions | Right-to-work lawsMSC: Interpretive

213 Most economists believe unions are bad for the economy as a whole

MSC: Interpretive

214 Critics of unions argue that unions cause the allocation of labor to be inefficient and inequitable

TOP: Unions | Efficiency | Equality MSC: Interpretive

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215 Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers’ concerns.

MSC: Definitional

216 According to the theory of efficiency wages, firms operate more efficiently if wages are above the equilibriumlevel

MSC: Definitional

217 According to the theory of efficiency wages, firms operate more efficiently if wages are below the equilibriumlevel

MSC: Definitional

218 According to the theory of efficiency wages, it may be profitable for firms to keep wages high even in the presence of a surplus of labor

MSC: Definitional

219 Efficiency wages create structural unemployment

TOP: Efficiency wages | Structural unemployment MSC: Interpretive

220 A firm might offer efficiency wages so its workers will eat a more nutritious diet and therefore be healthier and more productive

TOP: Efficiency wages | Worker health MSC: Interpretive

221 The efficiency-wage theory of worker health is more relevant for explaining unemployment in less developed countries than in rich countries

TOP: Efficiency wages | Worker health MSC: Interpretive

222 A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs

TOP: Efficiency wages | Worker turnover MSC: Interpretive

223 A firm might offer efficiency wages in order to attract a better pool of applicants

TOP: Efficiency wages | Worker quality MSC: Interpretive

224 A firm might offer efficiency wages in order to reduce shirking

TOP: Efficiency wages | Worker effort MSC: Interpretive

225 In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage As a result, turnover and absenteeism fell and productivity and profits rose

MSC: Interpretive

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LOC: Unemployment and inflation TOP: Labor-force participation rate | Unemployment rate

(This likely happened because as the economy was improving, more people began seeking employment, but not all immediately found employment.)

LOC: Unemployment and inflation TOP: Employment | Unemployment rate

grandfathers did, older men now retiring earlier and living longer, and more fathers now staying at home to raise their children

LOC: The study of economics and definitions of economics

4 Most spells of unemployment are short, and most unemployment observed at any given time is long term How can this be?

ANS:

Most unemployed people in the economy are unemployed for relatively short periods of time, while fewer people are unemployed for relatively long periods of time If you were to total the weeks spent unemployed, most of those weeks would be accounted for by people who had been unemployed a long time

LOC: Unemployment and inflation TOP: Unemployment

MSC: Interpretive

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5 Why might a favorable change in the economy, such as technological improvement or a decrease in the price

of imported oil, be associated with an increase in frictional unemployment?

ANS:

Even generally favorable changes will usually involve some sort of sectoral shock that changes the demand for laboramong different firms For example, a decrease in the price of imported oil would likely reduce the demand for U.S.oil workers and increase the demand for automobile workers Similarly, technological progress makes some industries decline and others advance, creating frictional unemployment

LOC: Unemployment and inflation TOP: Frictional unemployment | Sectoral shifts

LOC: Unemployment and inflation TOP: Minimum wage | Unemployment

MSC: Interpretive

7 Since unemployment rates are consistently higher in Canada and some Western European countries than in theUnited States, it appears that the natural rate of unemployment is lower in the United States What might explain this difference?

ANS:

The text offers two explanations for the natural rate of unemployment The first is frictional unemployment, which results from people and employers taking time to search for the best match Frictional unemployment would be higher in countries that have frequent and large sectoral shifts and generous unemployment compensation It seems unlikely that Canada and Western European countries would have greater sectoral shifts than the United States, so some of the difference might be due to more generous unemployment compensation in Canada and Western Europe.The second explanation for the natural rate of unemployment is that wages in some labor markets are above

equilibrium One rationale for setting wages above equilibrium is to attract and retain productive workers There is

no obvious reason why these efficiency wages should contribute to unemployment more in Canada and Western Europe than in the United States Wages can also be above equilibrium in some markets because of minimum-wagelaws So, some unemployment in Canada and Western Europe might result from higher minimum wages Finally, unions may negotiate higher wages for their members causing a rise in unemployment Possibly, Canada and Western Europe have greater union membership rates or more powerful unions

LOC: Unemployment and inflation TOP: Natural rate of unemployment

MSC: Interpretive

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9 What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages.ANS:

According to the theory of efficiency wages, firms operate more efficiently if wages are above the equilibrium level.Therefore, it may be profitable for firms to keep wages high even in the presence of an excess supply of labor If so,firms will keep wages above the equilibrium level, creating unemployment

(1) Worker Health:

Better-paid workers eat a more nutritious diet, and workers who eat a better diet are healthier and more productive

A firm may find it profitable to pay higher wages in order to have healthier, more productive workers

(2) Worker Turnover:

The more a firm pays its workers, the less often its workers choose to leave the firm Since it is costly to hire and train new workers, it may be profitable for an employer to pay higher than equilibrium wages in order to reduce worker turnover rates

(3) Worker Effort:

In jobs where workers have some discretion over how hard they work, workers may shirk As a result, firms monitor the effort of their workers, and those caught shirking are fired However, it is costly to monitor workers, andmonitoring is often imperfect By paying higher wages, firms make it more expensive for workers to shirk, since if they are caught they will not readily find other employment at their current wage It may be profitable for a firm to pay higher than market wages in order to reduce shirking

(4) Worker Quality:

When a firm hires new workers, it cannot perfectly gauge the quality of the applicants By paying a higher wage, the firm attracts a better pool of workers to apply for its jobs It may be profitable for a firm to pay higher than market wages in order to increase the probability that it will hire good-quality workers

b their personal savings

c their labor earnings

d rental income

TOP: Income | Standard of living MSC: Definitional

2 Which of the following is correct?

a The amount of unemployment that a country typically experiences is a determinant of that country'sstandard of living, and some degree of unemployment is inevitable in a complex economy

b The amount of unemployment that a country typically experiences is a determinant of that country'sstandard of living, and a complex economy can achieve zero unemployment

c The amount of unemployment that a country typically experiences is not a determinant of that

country's standard of living, and a complex economy can achieve zero unemployment

d The amount of unemployment that a country typically experiences is not a determinant of that

country's standard of living, and some degree of unemployment is inevitable in a complex

economy

TOP: Unemployment | Standard of living MSC: Interpretive

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3 The amount of unemployment varies

a little over time and across countries

b little over time, but substantially across countries

c substantially over time, but little across countries

d substantially over time and across countries

NAT: Analytic LOC: Unemployment and inflation TOP: UnemploymentMSC: Interpretive

4 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

5 An economy’s natural rate of unemployment is

a the economy’s long-run target level of unemployment

b the amount of unemployment that the economy normally experiences

c the lowest rate of unemployment the economy can achieve

d All of the above are correct

6 The natural rate of unemployment is the

a unemployment rate that would prevail with zero inflation

b rate associated with the highest possible level of GDP

c difference between the long-run and short-run unemployment rates

d amount of unemployment that the economy normally experiences

7 The deviation of unemployment from its natural rate is called

a the unnatural rate of unemployment

b structural unemployment

c frictional unemployment

d cyclical unemployment

NAT: Analytic LOC: Unemployment and inflation TOP: Cyclical unemploymentMSC: Definitional

8 Cyclical unemployment refers to

a the relationship between the probability of unemployment and a worker's changing level of experience

b how often a worker is likely to be employed during her lifetime

c year-to-year fluctuations of unemployment around its natural rate

d long-term trends in unemployment

NAT: Analytic LOC: Unemployment and inflation TOP: Cyclical unemploymentMSC: Definitional

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9 Cyclical unemployment

a has a different explanation than does the natural rate of unemployment

b refers to the year-to-year fluctuation in unemployment around an economy’s natural rate of

unemployment

c is closely associated with short-run ups and downs of economic activity

MSC: Interpretive

10 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

MSC: Interpretive

11 The designation "natural" implies that the natural rate of unemployment

a is desirable

b is constant over time

c is impervious to economic policy

d does not go away on its own even in the long run

12 The natural rate of unemployment

a is the economy’s desirable level of unemployment

b cannot be affected by economic policy

c Both (a) and (b) are correct

d None of the above is correct

a arises from a single problem that has a single solution

b is easy for policymakers to reduce

c Both (a) and (b) are correct

a is a constant

b is the desirable rate of unemployment

c cannot be altered by economic policy

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Sec01 - Unemployment - Identifying Unemployment

MULTIPLE CHOICE

1 Measuring unemployment is the job of the

a Congressional Budget Office

b Department of Commerce

c Council of Economic Advisers

d Bureau of Labor Statistics

2 The Bureau of Labor Statistics is part of the U.S Department of

a the Treasury

b Commerce

c Labor

d the Interior

TOP: Bureau of Labor Statistics MSC: Definitional

3 The Bureau of Labor Statistics produces data on unemployment

a weekly

b monthly

c quarterly

d yearly

4 The Bureau of Labor Statistics produces data on

a unemployment

b types of employment

c length of the average workweek

NAT: Analytic LOC: Unemployment and inflation TOP: Bureau of Labor StatisticsMSC: Interpretive

5 The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about

a 600 households

b 6,000 households

c 60,000 households

d 6,000,000 households

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6 The Bureau of Labor Statistics produces data on unemployment and other aspects of the labor market from a regular survey of about 60,000 households, called the

a Census

b Labor Survey

c Survey of Economic Indicators

d Current Population Survey

MSC: Definitional

7 Unemployment data are collected

a from unemployment insurance claims

b through a regular survey of about 60,000 households

c through a regular survey of about 200,000 firms

d Unemployment data are collected using all of the above

MSC: Interpretive

8 Which of the following is not one of the categories into which the Bureau of Labor Statistics places

each adult of each surveyed household?

a employed

b unemployed

c underemployed

d not in the labor force

TOP: Bureau of Labor Statistics MSC: Definitional

10 Who of the following is not included in the Bureau of Labor Statistics' “employed” category?

a those who worked as paid employees

b those who worked in their own business

c those who worked as unpaid workers in a family member's business

d those waiting to be recalled to a job from which they had been laid off

11 The Bureau of Labor Statistics places people in the “employed” category if they

a are without a job, but are available for work and have tried to find a job during the previous 4

weeks

b work without pay in a family member’s business

c are waiting to be recalled to a job from which they had been laid off

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12 The Bureau of Labor Statistics places people in the “employed” category if they

a are temporarily absent from their jobs

b are self-employed

c work without pay in a family member’s business

13 Who of the following are included in the Bureau of Labor Statistics’ “employed” category?

a certain unpaid workers

b part-time workers

c workers on vacation

14 Egzon is working part-time Dijana is on temporary layoff Who is included in the Bureau of LaborStatistics’ “employed” category?

a only Egzon

b only Dijana

c both Egzon and Dijana

d neither Egzon nor Dijana

15 Adelina owns her own business Odilon is an unpaid worker in his family’s business Who is included in the Bureau of Labor Statistics’ “employed” category?

a only Adelina

b only Odilon

c both Adelina and Odilon

d neither Adelina nor Odilon

16 For the Bureau of Labor Statistics to place someone in the “unemployed” category, that person must

a be available for work

b have tried to find employment during the previous week

c have previously been employed

17 For the Bureau of Labor Statistics to place someone in the “unemployed” category, that person must

a have worked 10 or fewer hours during the previous week

b have tried to find employment during the previous year

c not have been laid off

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18 Which of the following is not a requirement for the Bureau of Labor Statistics to place someone in

the “unemployed” category?

a The person must not have been employed

b The person must not have been fired from their previous job

c The person must have tried to find employment during the previous 4 weeks

d The person must have been available for work

19 Who of the following would be included in the Bureau of Labor Statistics’ “unemployed” category?

a Tuuli, who is waiting for her new job to start

b Jyri, who worked only 15 hours last week

c Panu, who neither has a job nor is looking for one

20 Who of the following would be included in the Bureau of Labor Statistics’ “unemployed” category?

a Cemal, a full-time student who is not looking for work

b Halim, who is on temporary layoff

c Zeynep, who has retired and is not looking for work

21 Who of the following would necessarily be included in the Bureau of Labor Statistics’

“unemployed” category?

a Anique, who did not work during the previous 4 weeks

b Evelien, who tried to find new employment during the previous 4 weeks

c Renate, who was an unpaid worker during the previous 4 weeks

TOP: Bureau of Labor Statistics | Unemployment MSC: Analytical

22 Who is included in the labor force by the Bureau of Labor Statistics?

a Azibo, a homemaker not looking for other work

b Kwamie, a full-time student not looking for work

c Geroy, who does not have a job, but is looking for work

TOP: Bureau of Labor Statistics | Labor force MSC: Interpretive

23 Who is included in the labor force by the Bureau of Labor Statistics?

a Aibne, who works most of the week in a steel factory

b Modlen, who is waiting for her new job at the bank to start

c Wyclef, who does not have a job, but is looking for work

d All of the above are included in the labor force

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24 Who is not included in the labor force by the Bureau of Labor Statistics?

a Kawanari, who is on temporary layoff

b Takuji, who has retired and is not looking for work

c Izumi, who does not have a job, but has applied for several in the last week

25 Acarapi is a full-time homemaker not currently searching for other work Ximena is a full-time student who is not looking for a job Who is included in the labor force by the Bureau of Labor Statistics?

a only Acarapi

b only Ximena

c both Acarapi and Ximena

d neither Acarapi nor Ximena

26 A person who is counted as unemployed by the Bureau of Labor Statistics

a is also in the labor force

b must have recently looked for work or be on temporary layoff

c be at least 16 years old

TOP: Bureau of Labor Statistics | Unemployment | Labor force MSC: Interpretive

27 Pekelo owns his own business The Bureau of Labor Statistics counts Pekelo as

a unemployed and in the labor force

b unemployed and not in the labor force

c employed and in the labor force

d employed and not in the labor force

TOP: Bureau of Labor Statistics | Employment | Labor force MSC: Interpretive

28 Yves is an unpaid worker in his family’s bakery The Bureau of Labor Statistics counts Yves as

29 Eponine works part-time as a babysitter The Bureau of Labor Statistics counts Eponine as

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30 Ipo did not work last week because flooding forced an evacuation of her workplace The Bureau of Labor Statistics counts Ipo as

31 Jouke is on a temporary layoff from his factory job The Bureau of Labor Statistics counts Jouke as

32 Jai Li just lost her job, and she hasn’t yet started looking for a new one The Bureau of Labor Statistics counts Jai Li as

b unemployed, but not in the labor force

c in the labor force, but not unemployed

d neither in the labor force nor unemployed

33 Zeeman is a college student who is not working or looking for a job The Bureau of Labor Statisticscounts Zeeman as

34 Neeltje is an unpaid homemaker who works as a volunteer at the local Red Cross and is currently not looking for a paid job The Bureau of Labor Statistics counts Neeltje as

35 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

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36 The labor force equals the

a number of people employed

b number of people unemployed

c number of people employed plus the number of people unemployed

d adult population

TOP: Labor force MSC: Definitional

37 Suppose that a large number of men who used to work or seek work now no longer do either Other things the same, this makes

a the number of people unemployed rise but does not change the labor force

b the number of people unemployed rise but makes the labor force fall

c both the number of people unemployed and the labor force fall

d the number of people unemployed fall but does not change the labor force

NAT: Analytic LOC: Unemployment and inflation TOP: Unemployment | Labor forceMSC: Interpretive

38 The Bureau of Labor Statistics defines the unemployment rate as the percentage of

a those unemployed relative to those employed

b the labor force that is unemployed

c the adult population that is unemployed

d the adult population that is unemployed or not in the labor force

MSC: Definitional

39 The unemployment rate is computed as the number of unemployed

a divided by the labor force, all times 100

b divided by the number of employed, all times 100

c divided by the adult population, all times 100

d times the labor-force participation rate, all times 100

MSC: Definitional

40 Which of the following is correct?

a Labor force = number of employed

b Labor force = population - number of unemployed

c Unemployment Rate = number of unemployed (number of employed + number of unemployed) 100

d Unemployment Rate = number of unemployed adult population 100

TOP: Unemployment rate | Labor force MSC: Interpretive

41 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

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42 The labor-force participation rate tells us the fraction of the population that

a is able to participate in the labor market

b has ever been employed

c has chosen to participate in the labor market

d has chosen not to participate in the labor market

43 The labor-force participation rate is computed as

a (Employed Adult Population) 100

b (Employed Labor Force) 100

c (Labor Force Adult Population) 100

d (Adult Population Labor Force) 100

44 Satchel loses his job and immediately begins looking for another Other things the same, the

unemployment rate

a increases and the labor-force participation rate decreases

b and the labor-force participation rate both increase

c increases and the labor-force participation rate is unaffected

d is unaffected and the labor-force participation rate decreases

TOP: Unemployment rate | Labor-force participation rate MSC: Interpretive

45 Matilda just graduated from college In order to devote all her efforts to college, she didn’t hold a job She is going to cruise around the country on her motorcycle for a month before she starts looking for work Other things the same, the unemployment rate

b and the labor-force participation rate both increase

c increases and the labor-force participation rate is unaffected

d and the labor-force participation rate are both unaffected

46 Sheamous loses his job and decides to sit on the beach rather than look for work during the next few

months Other things the same, the unemployment rate

b increases and the labor-force participation rate is unaffected

c is unaffected and the labor-force participation rate decreases

47 Sirius has just finished high school and started looking for his first job, but has not yet found one Other things the same, the unemployment rate

a and the labor-force participation rate both increase

b increases and the labor-force participation rate is unaffected

c is unaffected and the labor-force participation rate increases

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48 If an unemployed person quits looking for work, then, other things the same, the unemployment rate

a decreases and the labor-force participation rate is unaffected

b and the labor-force participation rate both decrease

c is unaffected and the labor-force participation rate decreases

49 President Bigego is running for re-election against Senator Pander Bigego proclaims that more people are working now than when he took office Pander says that the unemployment rate is highernow than when Bigego took office You conclude that

a one of them must be lying

b both of them could be telling the truth if the labor force and employment grew at the exact same

rate

c both of them could be telling the truth if the labor force grew slower than employment

d both of them could be telling the truth if the labor force grew faster than employment

TOP: Employment | Unemployment rate MSC: Analytical

51 Refer to Table 28-1 The labor force of Wrexington in 2005 was

a 1300

b 1900

c 2400

d 3000

52 Refer to Table 28-1 The labor force of Wrexington in 2006 was

a 1600

b 1800

c 3000

d 3200

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53 Refer to Table 28-1 The labor force of Wrexington

a increased from 2004 to 2005 and increased from 2005 to 2006

b increased from 2004 to 2005 and decreased from 2005 to 2006

c decreased from 2004 to 2005 and increased from 2005 to 2006

d decreased from 2004 to 2005 and decreased from 2005 to 2006

54 Refer to Table 28-1 The number of adults not in the labor force of Wrexington in 2004 was

a 200

b 400

c 600

d 1800

a 600

b 1100

c 1700

d 2400

a 200

b 1400

c 1600

d 3000

57 Refer to Table 28-1 The number of adults not in the labor force of Wrexington

58 Refer to Table 28-1 The unemployment rate of Wrexington in 2004 was

a 10%

b 12.5%

c 14.3%

d 80%

MSC: Applicative

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a 20%

b 31.6%

c 46.2%

d 63.3%

NAT: Analytic LOC: Unemployment and inflation TOP: Unemployment rateMSC: Applicative

a 6.25%

b 11.1%

c 12.5%

d 56.25%

61 Refer to Table 28-1 The unemployment rate of Wrexington

62 Refer to Table 28-1 The labor-force participation rate of Wrexington in 2004 was

a 70%

b 77.8%

c 80%

d 87.5%

a 43.3%

b 54.2%

c 63.3%

d 68.4%

a 50%

b 53.3%

c 56.25%

d 88.9%

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65 Refer to Table 28-1 The labor-force participation rate of Wrexington

Table 28-2

2009 Labor Data for Wrexington

Number of adults who are unpaid workers in a family member’s business 1,000

Number of adults who were temporarily absent from their jobs because of an earthquake 400

Number of adults who were waiting to be recalled to a job from which they had been laid off 200

Number of adults who do not have a job, are available for work, and have tried to find a job

Number of adults who do not have a job, are available for work, but have not tried to find a job

66 Refer to Table 28-2 How many people were employed in Wrexington in 2009?

a 9,600

b 10,600

c 11,000

d 11,200

TOP: Employment MSC: Applicative

67 Refer to Table 28-2 How many people were unemployed in Wrexington in 2009?

a 1,400

b 1,600

c 2,000

d 2,780

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69 Refer to Table 28-2 How many people were not in Wrexington’s labor force in 2009?

a 4,400

b 6,620

c 7,400

d 8,690

70 Refer to Table 28-2 What was Wrexington’s unemployment rate in 2009?

a 8.0 percent

b 12.7 percent

c 15.9 percent

d 22.1 percent

72 In 2004, based on concepts similar to those used to estimate U.S employment figures, the Canadian adult non-institutionalized population was 25.022 million, the labor force was 16.956 million, and the number of people employed was 15.864 million According to these numbers, the Canadian labor-force participation rate and unemployment rate were about

a 63.4% and 4.4%

b 63.4% and 6.4%

c 67.8% and 4.4%

d 67.8% and 6.4%

TOP: Labor-force participation rate | Unemployment rate MSC: Applicative

73 In 2004, based on concepts similar to those used to estimate U.S employment figures, the Japanese adult non-institutionalized population was 109.684 million, the labor force was 65.760 million, and the number of people employed was 62.630 million According to these numbers, the Japanese labor-force participation rate and unemployment rate were about

a 57.1% and 2.9%

b 57.1% and 4.8%

c 60% and 2.9%

d 60% and 4.8%

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74 In 2004, based on concepts similar to those used to estimate U.S employment figures, the Italian adult non-institutionalized population was 45.020 million, the labor force was 24.065 million, and the number of people employed was 22.105 million According to these numbers, the Italian labor-force participation rate and unemployment rate were about

a 49.1% and 4.4%

b 49.1% and 8.1%

c 53.5% and 4.4%

d 53.5% and 8.1%

75 In 2004, based on concepts similar to those used to estimate U.S employment figures, the Swedish adult non-institutionalized population was 6.712 million, the labor force was 4.576 million, and the number of people employed was 4.276 million According to these numbers, the Swedish labor-force participation rate and unemployment rate were about

a 63.7% and 4.5%

b 63.7% and 6.6%

c 68.2% and 4.5%

d 68.2% and 6.6%

76 The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor’s degree, 40.59 million of whom were employed and 98 million of whom were unemployed What were the labor-force participation rate and the unemployment rate for this group?

a 76.3% and 1.8%

b 76.3% and 2.4%

c 78.1% and 1.8%

d 78.1% and 2.4%

77 The Bureau of Labor Statistics reported in 2005 that there were 50.40 million people over age 25 whose highest level of education was some college or an associate degree, 33.86 million of whom were employed and 1.27 million of whom were unemployed What were the labor-force

participation rate and the unemployment rate for this group?

a 67.2% and 2.5%

b 67.2% and 3.6%

c 69.7% and 2.5%

d 69.7% and 3.6%

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