Exam 6: Measuring the Price Level and Inflation

A long-term mismatch between the skills of some workers and the jobs available is a principal cause of ______ unemployment.

When unemployment insurance benefits exceed the wages a worker could earn when employed, the worker will have an incentive to:

Unemployment insurance contributes to structural unemployment by:

Technological change that affects the marginal products of high-skilled and low-skilled workers differently is called ______ technological change.

An increase in the size of the working-age population:

Assume the minimum wage exceeds the market-clearing wage. If there is an increase in the labor supply, then the number of workers who are unemployed will ______ and the number of workers who are employed will _______.

Leaving the labor force or finding a job are two ways that:

In the United States between 1980 and 2007, employment:

Real wages increased in industrialized countries in the twentieth century because the demand for labor:

Holding other factors constant, if the education and skills of the typical worker in an economy increases, then the real wages of workers will ______ and employment of workers will _____.

Larger increases in the demand for labor than in the supply of labor explain:

The introduction of word processing software that increases the demand for workers with computer skills relative to those without such skills is an example of:

In an economy of 100 people in the labor force, if 10 people are unemployed for 4 weeks during the year, and 30 people are unemployed for 8 weeks during the year, and the rest are employed continuously throughout the year, then the average duration of unemployment in this economy is:

Holding other factors constant, if a larger proportion of the population enters the labor force as a result of a growing social acceptance of women working, then the real wages of workers will ______ and employment of workers will _____.

Most economists generally argue ______ trying to block technological advances because these technological advances ______.

Assume the union contract wage exceeds the market-clearing wage. If there is an increase in the labor supply, then the number of unemployed workers will ______ and the number of employed workers will _______.

An unemployment spell is a period during which:

Minimum wage laws contribute to structural unemployment by:

Holding other factors constant, if food prices decline relative to the prices of other products, then the real wages of agricultural workers will ______ and employment of agricultural workers will _____.

The following table provides information about production at the XYZ-TV Company. Number of Workers TVs Produced Marginal Product Value of Marginal Product 0 0 \@cdots \@cdots 1 35 35 \ 35,000 2 68 33 \ 33,000 3 99 31 \ 31,000 4 128 29 \ 29,000 5 155 27 \ 27,000 How many workers will the XYZ-TV Company hire if the going wage for TV production workers is $60,000?