Question 1

The labor force equals the

Accepted Answer

A) number of people employed. 
B) number of people employed plus the number of people unemployed. 
C) number of people employed plus the number of people unemployed plus teenagers between ages 14 and 16 who work at least 10 hours a week. 
D) adult population. 
A) number of people employed. 
B) number of people employed plus the number of people unemployed. 
C) number of people employed plus the number of people unemployed plus teenagers between ages 14 and 16 who work at least 10 hours a week. 
D) adult population. B

Question 2

According to 2014 data on the U.S.population,which of the following was correct for the adult population of prime working age,ages 25-54?​

Accepted Answer

A) Black females had higher labor-force participation rates and lower unemployment rates compared to white females. 
B) Black females had similar labor-force participation rates and higher unemployment rates compared to white females. 
C) Black females had both lower labor-force participation rates and lower unemployment rates compared to white females. 
D) Black females had lower labor-force participation rates and higher unemployment rates compared to white females. 
A) Black females had higher labor-force participation rates and lower unemployment rates compared to white females. 
B) Black females had similar labor-force participation rates and higher unemployment rates compared to white females. 
C) Black females had both lower labor-force participation rates and lower unemployment rates compared to white females. 
D) Black females had lower labor-force participation rates and higher unemployment rates compared to white females. B

Question 3

In 2016 the Bureau of Labor Statistics reported that there were 71.9 million people over age 25 who had at least a bachelor's degree.Of these 52.1 million were employed and 1.3 million were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A) 72.5% and 1.8% 
B) 72.5% and 2.4% 
C) 74.3% and 1.8% 
D) 74.3% and 2.4% 
A) 72.5% and 1.8% 
B) 72.5% and 2.4% 
C) 74.3% and 1.8% 
D) 74.3% and 2.4% D

Question 4

Which of the following is correct?

Accepted Answer

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. 
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.

Question 5

Discouraged workers are included in

Accepted Answer

A) the number of unemployed. 
B) frictional unemployment. 
C) the labor force. 
D) None of the above is correct. 
A) the number of unemployed. 
B) frictional unemployment. 
C) the labor force. 
D) None of the above is correct.

Question 6

Who would be included in the labor force?

Accepted Answer

A) Maggie,who plans to work at the newspaper next year when she turns 16 years old. 
B) Lisa,who is unhappy with her current job. 
C) Bart,who is a full-time student and uninterested in finding employment. 
D) None of the above is correct. 
A) Maggie,who plans to work at the newspaper next year when she turns 16 years old. 
B) Lisa,who is unhappy with her current job. 
C) Bart,who is a full-time student and uninterested in finding employment. 
D) None of the above is correct.

Question 7

In 2015 the Japanese adult non-institutionalized population was 110.7 million,the labor force was 66 million,and the number of people employed was 63.7 million.According to these numbers,the Japanese labor-force participation rate and unemployment rate were about

Accepted Answer

A) 57.5% and 2.1% 
B) 57.5% and 3.5% 
C) 59.6% and 2.1% 
D) 59.6% and 3.5% 
A) 57.5% and 2.1% 
B) 57.5% and 3.5% 
C) 59.6% and 2.1% 
D) 59.6% and 3.5%

Question 8

Since 1960,the natural rate of unemployment in the U.S.has been between

Accepted Answer

A) 0% and 1%. 
B) 5% and 6%. 
C) 10% and 12%. 
D) 12% and 24%. 
A) 0% and 1%. 
B) 5% and 6%. 
C) 10% and 12%. 
D) 12% and 24%.

Question 9

In 2016 the Bureau of Labor Statistics reported that there were 62.2 million people over age 25 whose highest level of education was a high school degree or equivalent.Of these,33.7 million were employed and 1.8 million were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

A) 54.2% and 2.9% 
B) 54.2% and 5.1% 
C) 57% and 2.9% 
D) 57% and 5.1% 
A) 54.2% and 2.9% 
B) 54.2% and 5.1% 
C) 57% and 2.9% 
D) 57% and 5.1%

Question 10

Which of the following is correct?

Accepted Answer

A) The labor-force participation rate of women has increased in part due to smaller families. 
B) The labor-force participation rate of men has decreased in part due to men retiring younger and living longer. 
C) Both a and b are correct. 
D) Neither a nor b is correct. 
A) The labor-force participation rate of women has increased in part due to smaller families. 
B) The labor-force participation rate of men has decreased in part due to men retiring younger and living longer. 
C) Both a and b are correct. 
D) Neither a nor b is correct.

Question 11

Which of the following is an explanation for the existence of frictional unemployment?

Accepted Answer

A) efficiency wages 
B) minimum-wage laws 
C) unions 
D) job search 
A) efficiency wages 
B) minimum-wage laws 
C) unions 
D) job search

Question 12

According to 2014 data on the U.S.population,which of the following groups of adults of prime working age (ages 25-54)had the lowest labor-force participation rate?

Accepted Answer

A) white males 
B) white females 
C) black males 
D) black females 
A) white males 
B) white females 
C) black males 
D) black females

Question 13

Every month,the Bureau of Labor Statistics surveys 160,000 business establishments to help determine the

Accepted Answer

A) number of people unemployed. 
B) number of jobs the economy has gained or lost. 
C) size of the labor force. 
D) number of people who own their own businesses. 
A) number of people unemployed. 
B) number of jobs the economy has gained or lost. 
C) size of the labor force. 
D) number of people who own their own businesses.

Question 14

Tatiana is waiting to be recalled to a job from which she was laid off.Ivan was fired but has not looked for work during the last two months.Who does the Bureau of Labor Statistics count as "unemployed"?

Accepted Answer

A) Tatiana but not Ivan 
B) Ivan but not Tatiana 
C) both Ivan and Tatiana 
D) neither Ivan nor Tatiana 
A) Tatiana but not Ivan 
B) Ivan but not Tatiana 
C) both Ivan and Tatiana 
D) neither Ivan nor Tatiana

Question 15

Which of the following is not one of the categories into which the Bureau of Labor Statistics places each adult of each surveyed household?

Accepted Answer

A) employed 
B) unemployed 
C) underemployed 
D) not in the labor force 
A) employed 
B) unemployed 
C) underemployed 
D) not in the labor force

Question 16

Which of the following is a requirement for the Bureau of Labor Statistics to place someone in the "unemployed" category?

Accepted Answer

A) The person must have worked no more than 10 hours during the past week.. 
B) The person must have tried to find employment during the previous four weeks. 
C) The person may not have been laid off. 
D) All of the above are correct. 
A) The person must have worked no more than 10 hours during the past week.. 
B) The person must have tried to find employment during the previous four weeks. 
C) The person may not have been laid off. 
D) All of the above are correct.

Question 17

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

Accepted Answer

A) both the unemployment rate and labor-force participation rate would be higher. 
B) both the unemployment rate and labor-force participation rate would be lower. 
C) the unemployment rate would be higher,and the labor-force participation rate would be higher. 
D) the unemployment rate would be lower,and the labor-force participation rate would be unaffected. 
A) both the unemployment rate and labor-force participation rate would be higher. 
B) both the unemployment rate and labor-force participation rate would be lower. 
C) the unemployment rate would be higher,and the labor-force participation rate would be higher. 
D) the unemployment rate would be lower,and the labor-force participation rate would be unaffected.

Question 18

Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?

Accepted Answer

A) someone working without pay for a family member's business 
B) someone who is absent from their job due to illness 
C) someone on temporary layoff 
D) All of the above are correct. 
A) someone working without pay for a family member's business 
B) someone who is absent from their job due to illness 
C) someone on temporary layoff 
D) All of the above are correct.

Question 19

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

Accepted Answer

A) always zero. 
B) sometimes zero. 
C) rarely zero. 
D) never zero. 
A) always zero. 
B) sometimes zero. 
C) rarely zero. 
D) never zero.

Question 20

Which of the following is correct?

Accepted Answer

A) The Bureau of Labor Statistics uses data collected from those applying for unemployment insurance to compute the unemployment rate. 
B) The labor force includes all adults who are able to work. 
C) Unpaid homemakers are counted as "employed" by the Bureau of Labor Statistics. 
D) People working part time are counted as "employed" by the Bureau of Labor Statistics. 
A) The Bureau of Labor Statistics uses data collected from those applying for unemployment insurance to compute the unemployment rate. 
B) The labor force includes all adults who are able to work. 
C) Unpaid homemakers are counted as "employed" by the Bureau of Labor Statistics. 
D) People working part time are counted as "employed" by the Bureau of Labor Statistics.

Exam 15: Unemployment: Identifying Unemployment

The labor force equals the

According to 2014 data on the U.S.population,which of the following was correct for the adult population of prime working age,ages 25-54?​

In 2016 the Bureau of Labor Statistics reported that there were 71.9 million people over age 25 who had at least a bachelor's degree.Of these 52.1 million were employed and 1.3 million were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Which of the following is correct?

Discouraged workers are included in

Who would be included in the labor force?

In 2015 the Japanese adult non-institutionalized population was 110.7 million,the labor force was 66 million,and the number of people employed was 63.7 million.According to these numbers,the Japanese labor-force participation rate and unemployment rate were about

Since 1960,the natural rate of unemployment in the U.S.has been between

Which of the following is correct?

Which of the following is an explanation for the existence of frictional unemployment?

According to 2014 data on the U.S.population,which of the following groups of adults of prime working age (ages 25-54)had the lowest labor-force participation rate?

Every month,the Bureau of Labor Statistics surveys 160,000 business establishments to help determine the

Tatiana is waiting to be recalled to a job from which she was laid off.Ivan was fired but has not looked for work during the last two months.Who does the Bureau of Labor Statistics count as "unemployed"?

Which of the following is not one of the categories into which the Bureau of Labor Statistics places each adult of each surveyed household?

Which of the following is a requirement for the Bureau of Labor Statistics to place someone in the "unemployed" category?

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

Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?

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

Which of the following is correct?

Ten Principles of Economics

Ten Principles of Economics: How People Make Decisions

Ten Principles of Economics: How People Interact

Ten Principles of Economics: How the Economy As a Whole Works

Ten Principles of Economics: Part A

Ten Principles of Economics: Part B

Thinking Like an Economist

Thinking Like an Economist: The Economist As Scientist

Thinking Like an Economist: The Economist As Policy Adviser

Thinking Like an Economist: Why Economists Disagree

Thinking Like an Economist: Lets Get Going

Thinking Like an Economist: Graphing a Brief Review

Thinking Like an Economist: Part A

Thinking Like an Economist: Part B

Interdependence and the Gains From Trade

Interdependence and the Gains From Trade: A Parable for the Modern Economy

Interdependence and the Gains From Trade: Comparative Advantage the Driving Force of Specialization

Interdependence and the Gains From Trade: Applications of Comparative Advantage

Interdependence and the Gains From Trade: Conclusion

Interdependence and the Gains From Trade: Part A

Interdependence and the Gains From Trade: Part B

The Market Forces of Supply and Demand

The Market Forces of Supply and Demand:Markets and Competition

The Market Forces of Supply and Demand: Demand

The Market Forces of Supply and Demand: Supply

The Market Forces of Supply and Demand: Supply and Demand Together

The Market Forces of Supply and DemandConclusion How Prices Allocate Resources

The Market Forces of Supply and Demand: Part A

The Market Forces of Supply and Demand: Part B

Elasticity and Its Applications

Elasticity and Its Applications: The Elasticity of Demand

Elasticity and Its Applications: The Elasticity of Supply

Elasticity and Its Applications: Three Applications of Supply,demand,and Elasticity

Elasticity and Its Applications: Part A

Elasticity and Its Applications: Part B

Supply Demand and Government Policies

Supply Demand and Government Policies: Controls on Prices

Supply Demand and Government Policies: Taxes

Supply Demand and Government Policies: Part A

Supply Demand and Government Policies: Part B

Consumers Producers and the Efficiency of Markets

Consumers Producers and the Efficiency of Markets: Consumer Surplus

Consumers Producers and the Efficiency of Markets: Producer Surplus

Consumers Producers and the Efficiency of Markets: Market Efficiency

Consumers Producers and the Efficiency of Markets: Conclusion Market Efficiency and Market Failure

Consumers Producers and the Efficiency of Markets: Part A

Consumers Producers and the Efficiency of Markets: Part B

Application the Cost of Taxation

Application the Cost of Taxation: The Deadweight Loss of Taxation

Application the Cost of Taxation: The Determinants of the Deadweight Loss

Application the Cost of Taxation: Deadweight Loss and Tax Revenue As Taxes Vary

Application the Cost of Taxation: Conclusion

Application the Cost of Taxation: Part A

Application the Cost of Taxation: Part B

Application International Trade

Application International Trade: The Determinants of Trade

Application International Trade: The Winners and Losers From Trade

Application International Trade: The Arguments for Restricting Trade

Application International Trade: Conclusion

Application International Trade: Part A

According to 2014 data on the U.S.population,which of the following was correct for the adult population of prime working age,ages 25-54?