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Macroeconomic Test Bank Chapter 28
Macroeconomic Test Bank Chapter 28
Cha
pter15
Une
mploymentandI
tsNat
uralRat
e
1
. Thena tura
lr a
teofunempl oyme ntisthe
a. unempl oymentr a
tethatwoul dprevailwithzeroinfla t
ion.
b.r at
ea ssoci
ate
dwi ththehighe s
tpos s
ibleleve
lofGDP .
c. diffe rencebetweenthelong-runa nds hort
-rununemplo ymentra
tes.
d.amountofune mployme ntthattheeconomynor ma l
lyexpe r
ienc
es.
ANSWER: d. a
mountofune mploymentt hattheeconomynor mallyexper
ience
s.
TYPE:
M DI FFICULTY:1SECTI ON: 15.0
2
. Cyclic
alune mpl oyme ntref
ersto
a.t herela
ti onbet weentheprobabili
tyofunempl
oyme ntandawor ke
r’schangingl
eve
lofe
xpe
rie
nce
.
b.how of tenawor ke
risli
kelytobee mploye
dduringherlif
eti
me
c. year-
to-ye arfluc tuati
onsofunempl oymenta
roundi t
snaturalrat
e.
d.l ong-
termt r
e ndsinune mployme nt
.
ANSWER: c. ye ar-to-
yearfluc tuati
onsofunemplo
yme ntaroundi t
snaturalr
a t
e.
TYPE:
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3
. Cycl
icalunempl oymentisc los
elyassoci
atedwith
a.long-terme conomicgr owth.
b.shor t
-runupsa nddownsoft heeconomy.
c. fluc tuati
onsinthena t
uralrat
eofune mployme
nt.
d.seasonalfluc tua
tionsi nspending.
ANSWER: b
. short-
runupsa nddownsoft hee
conomy.
TYPE:
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4
. Thenaturalrateofunemployme nt
a.isac onst
a nt.
b.isthede si
rablerat
eofunempl oyment
.
c.cannotbea lt
ere
db yeconomicpoli
cy.
d.Noneoft heabovea r
ecorrect
.
ANSWER:d. Noneoft heabovearecorr
ect
.
TYPE:
M DIFFICULTY:1SECTI ON: 15.0
5
. Whi c
hoft hefollowi ngiscorrect
?
a. Somede gre eofune mpl oyme ntisine
vitabl
e.
b.Ot herthingst hes amea nincreaseinthenumbe rofpeopl
ewhoa reunemployeddec
reas
esr
ealGDP
.
c. Cycli
calune mpl oyme ntisinvers
e l
yrela
tedtoshort
-runeconomi
cfluc tua
tions.
d.Al lofthea bovea recorrect
.
ANSWER: d. Alloft heabovear ec orr
ect.
TYPE:
M DI FFI
CULTY:1SECTI ON: 15.0
6
. Dataonune mploymenti
sre
por t
ed
a. we e
kly.
b.mont hl
y.
c. quarter
ly.
d.ye arl
y.
ANSWER: b. monthl
y.
TYPE:
M DI FFICULTY:1SECTI
ON: 15.
1
7
. TheBLSpr oducesda t
aon
a. unempl oyment .
b.t ypesofe mployme nt.
c.le ngthofthea vera
gewor kweek.
d.Al l
ofthea bovea r
ecorre
c t
.
ANSWER: d. Al
loft heabovearecorr
ect
.
TYPE:
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about:blank 1/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
8
. Whi c
hoft hef ol
lowingisincor r
ect?
a. Theunempl oyme ntr
a t
eisc omput edusingthenumbe rofunemploymentins
uranc
ec l
aimsfil ed.
b.Eac ha dultincl
ude di
nt heune mpl oyments t
ati
sti
csi
sc l
ass
ifie dasemploye
d,unemployed,ornotint
helabor
f
or c
e.
c. Unempl oyme ntnumber sinc l
udepe opleagedsixt
eenandol de
r.
d.TheBur eauofLa borS t
ati
s ti
csgathersdataonune mpl
oyme ntandemployment.
ANSWER: a. Theunempl oyme ntrateiscomput e
dus i
ngthenumbe rofunemploymentins
uranceclai
msfil ed.
TYPE:
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9
. Unemployme ntda t
aiscoll
ecte
d
a.from unempl oymentinsuranc
ecla
ims .
b.throughar egularsurve
yofabout60,000households.
c.throughar egularsurve
yofabout200,000fir ms .
d.Une mployme ntdataiscoll
ect
edusingalloft
hea bove
.
ANSWER:b . throughar egularsur
veyofabout60,
000hous ehol
ds.
TYPE:
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1
10. Whic
hl isti
ncludesallthec a
tegori
esint
owhi chtheBLSdivide
stheadul
tpopul
ati
on?
a.empl oyedorune mpl oyed
b.disc
our agedworke rs,employed,orunemployed
c.empl oyed,unempl oyed,ornotinthelaborfor
c e
d.discouragedworke rs,employed,ornotinthelaborf
orc
e
ANSWER:c. e mployed,une mployed,ornotinthelaborf
orc
e
TYPE:
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11. Thelaborforceequalst
he
a. numberofpe oplewhoa reemployed.
b.numberofpe oplewhoa reunemployed.
c. numberofpe opleemployedplusthenumbe rofpe
opleunemploye
d.
d.adul tpopula
tion.
ANSWER: c. numberofpe opl
ee mploye
dpl ust
henumbe rofpe
opleunempl
oye
d.
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13. Whi c
hoft hef
ollowingwoul dbec ounteda sunemploye
dac
cor
dingt
ooffic
ials
tat
ist
ics
?
a. Brian,afull
-timestudentwhoi snotl ooki
ngforwork
b.Ka te, whoisonte mporarylayoff
c. He a
t h,whohasr eti
redandi snotlookingforwork
d.Al loft heabovewoul dbec ountedasune mploye
d.
ANSWER: b. Ka
te,whoi sontempor arylayoff
TYPE:
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4/18/23, 7:21 PM Macroeconomic Test Bank 10
18. Sal
lyisonat e
mporarylayofff rom thefac
torywhe
res
hemake
spl
ast
ict
abl
ewar
e.I
fSal
lypar
tic
ipa
tesi
ntheBLS
sur
vey ,s
hewi llbec
lass
ifie da s
a. unempl oyedandinthelaborf orce
.
b.unempl oyedandoutoft hel a
borforce.
c.e mployedandi nthelaborf orce
.
d.empl o ye
da ndoutofthel aborforce.
ANSWER: a. une mpl
oyedandi nthelaborforce
.
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21. A c
olleges t
udentwhoisnotwor kingorlookingforajobisc
ount
eda
s
a. neit
he remploye
dnorpar tofthelaborfor
c e
.
b.unempl oye
dandi nthelaborforce.
c. unempl oye
d,butnotinthel a
borforce.
d.empl o yedandinthelaborforce
.
ANSWER: a. neit
heremployednorpar tofthelaborfor
ce.
TYPE:
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4/18/23, 7:21 PM Macroeconomic Test Bank 10
25. Whi c
hoft hefol
lowingde fini t
ionsiscor
r e
ct?
a. Laborforce=numbe rofe mployed.
b.La borforce=populati
on–numbe rofunemploye
d.
c. Unempl oymentRate=( numbe rofunempl oye
d [numberofempl oye
d+numberofune
mpl oye
d]) 100.
d.Une mploymentRate=( numbe rofunempl oye
d adultpopul
ati
on) 100.
ANSWER: c. Unemployme ntRa t
e=( numbe rofunemploye
d [numbe rofempl
oye
d+numbe rofunemployed]
100.
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
26. Thelabor-
forcepart
ici
pa t
ionrateme asurestheperc
entageoft
he
a.totaladultpopulat
iont ha
tisint helaborfor
ce.
b.totaladultpopulat
iont ha
tise mployed.
c.laborforcethati
sempl oyed.
d.laborforcethati
seitherempl oyedorune mployed.
ANSWER:a . t
otaladul
tpopul ati
ont hatisinthel
aborforce
.
TYPE:
M DI FFI
CULTY:2SECTI ON: 15.1
27. Thelabor-forc
epar ti
ci
pa ti
onr at
eisdefine das
a.(Empl o
ye d Adul tPopula t
ion) 1
00.
b.(Empl o
ye d LaborFor ce) 100.
c.(La borFor c
e Adul tPopulati
on) 100.
d.(Adul tPopul a
tion LaborFor c
e) 100.
ANSWER:c . (
LaborFor ce Adul tPopul
a t
ion) 100.
TYPE:
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28. A f
ew ye arsa go,basedonc onc eptssimil
artothos
eusedt oest
ima t
eU. S.
empl oymentfigures
,theCanadia
na dult
non-i
ns t
itutionali
zedpopul at i
onwa s24mill
ion,t
helaborforc
ewas1 6mill
ion,andthenumberofpeopl
eempl oye
d
was14mi ll
ion. Accordingtot hesenumbe rs
,theCanadianlabor-
forceparti
cipat
ionra
teandunemploymentrat
e
werea bout
a.6 7pe rcenta nd8 .3per
cent .
b.6 7pe rcenta nd1 2.5per
ce nt.
c.5 8pe rcenta nd8 .3per
cent .
d.58pe rcentand1 2.5per
ce nt.
ANSWER: b. 67pe rc
e ntand1 2.5pe rc
ent.
TYPE:
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3
2. Rickloseshisjoba ndi mmedi ate
lybe gi
nslookingforanother.Cet
eri
spa
rib
us,
theune
mpl
oyme
ntr
ate
a.incr
eases,andt helabor-f
orc eparti
ci
pa t
ionratedecre
ases.
b.incr
eases,andt helabor-f
orc eparti
ci
pa t
ionrateisunaffe ct
ed.
c.isunaffe c
ted, andthelabor -
forcepart
ici
pa t
ionrat
eincreas
es .
d.decreas
es ,
andt hel abor-
forcepartic
ipati
onr a
teisunaffe cted.
ANSWER:b. increas
e s,andthel abor-
forceparti
ci
pa t
ionrat
eisunaffe ct
ed.
TYPE:
M DIFFICULTY:2SECTI ON: 15.1
33. Mattloseshisjobandde ci
destositarounda thomef orafew months.Ce
ter
ispa
rib
us,
theune
mpl
oyme
ntr
ate
a.inc r
ea s
es,andthelabor-
forc
epar t
ici
pati
onr atei
suna ffe cted.
b.inc r
ea s
es,andthelabor-
forc
epar t
ici
pati
onr atei
nc r
eases.
c. decreases
,andthelabor-f
orcepartic
ipa
tionr a
teincreases
.
d.de creases
,andthelabor-f
orcepartic
ipa
tionr a
tede c
reases.
ANSWER: d. decreas
es,
andt helabor-f
orcepartic
ipat
ionr at
ede c
reases
.
TYPE:
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4/18/23, 7:21 PM Macroeconomic Test Bank 10
35. Tar
aha sjustfini sheds c
hool ,buts heisgoingtoroam aroundt hecountr
ya whil
ebe
for
eshes
tar
tsl
ooki
ngf
orwor
k.
Asar esult
,theune mpl oyme ntr ate
a.inc r
eases,andt helabor-forcepar ti
cipat
ionratei
ncreases.
b. isuna ffe c
ted,andt helabor -f
orcepartici
pati
onrateisunaffe c
ted
c. increases,andthel abor-
for cepar t
ici
pati
onr a
tedecreases
.
d. increases
,a ndthel abor-
f orcepar t
ici
pati
onr a
teisunaffe c
ted.
ANSWER: b. isunaffe cted,andt helabor-
forcepart
ici
pationrat
ei sunaffe c
ted
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
3
7. Presi
dentBigegoisrunningf orre-
e l
ecti
ona gai
nstSena t
orPande r.Bigegopr oc
laimst hatmor epeopl
eare
workingnow thanwhenhet ookoffic e.Pandersaysthattheune mpl oyme ntrateishighe rnow t
hanwhenBi
gego
tookoffic e
.Youc oncl
udet hat
a. oneofthem mus tbelying.
b.bot hofthemc ouldbete l
li
ngt hetruthifthelaborfor
c eparti
cipationr a
teandt helaborf orcebot
hfel
l.
c. bothofthemc ouldbete l
li
ngt hetruthifthelaborfor
c egrews lo
we rthane mployme nt.
d.bot hofthemc ouldbet el
li
ngt hetruthifthelaborfor
c egrewf as
tert hanempl oyme nt.
ANSWER: d. bothofthemc ouldbet el
li
ngt hetruthifthelaborforcegr ewf ast
erthane mpl oyme nt
.
TYPE:
M DI FFI
CULTY:3SECTI ON: 15.
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38. Whi c
hgr ouphasthehighe
s tl
abor
-forcepar
tic
ipa
tionra
te?
a. blackfe
males
b.whi tefemale
s
c. whitema l
es
d.Ther earenosigni
fic antdiffe r
encesi
npartici
pat
ionra
tesa
cros
sthes
egr
oups
.
ANSWER: c. whit
emales
TYPE:
M DI FFICULTY:2SECTION: 15.
1
39. Amongt ee
na gers
,whichgrouphast
hehighes
tunempl
oymentrat
e?
a. whit
ema les
b.blackfemales
c. bl
ackmale s
d.Therea r
enos igni
fic a
ntdifferenc
esinunempl
oymentra
tesacr
osst
hes
egr
oups
.
ANSWER: c
. blackma l
es
TYPE:
M DIFFICULTY:1SECTI ON:
41. Whi c
hoft hefoll
owingisc or
rec
tforpeopleages20a ndover
?
a. Blackshavehigherrat
esoflabor-
forc
epartici
pati
onandlowe runempl
oyme ntra
testhanthoseofwhit
es.
b.Bl ackshavehigherrat
esoflabor-
forc
epartici
pati
onandhi gherune
mployme ntr
atesthanthoseofwhi
tes.
c. Blackshavesimilarr
atesofl
abor-f
orceparti
cipa
tionandlowerunemploymentrate
stha nt
hoseofwhites
.
d.Bl ackshavesimilarr
atesofl
abor-f
orceparti
cipa
tionandhigherunemploymentrat
esthanthoseofwhit
es.
ANSWER: d. Blac
ksha vesimil
arrat
esoflabor-
forcepart
ici
pat
ionandhigherunemployme ntra
testhant
hoseof
whites.
TYPE:
M DI FFICULTY:1SECTI ON: 15.
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about:blank 6/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
43. Thel
abor-
forcepart
ici
pat
ionr
ateoft
heU.
S.adul
tpopul
ati
on(
age
s16a
ndove
r)i
sabout
a.47percent.
b.55percent.
c.67percent.
d.75percent.
ANSWER:c. 67perc
ent.
TYPE:
M DIFFI
CULTY:1SECTI ON:15.1
44. Int
heUnitedSt at
esinr ec
entyears,f
orpeopl
eage2
0andove
r,t
heune
mpl
oyme
ntr
ateofbl
ackshasbe
en
a.lesst
hant hatofwhi t
es.
b.aboutthes ameast hatofwhites.
c.about50pe rcenthigherthanthatofwhit
es.
d.aboutdoubl ethatofwhites.
ANSWER:d. aboutdoubl ethatofwhites
.
TYPE:
M DIFFI
CULTY:2SECTI ON: 15.
1
45. Int
heUni te
dSt a t
esinrecentyears,theunemploymentrat
eamongte
ena
ger
shasbe
en
a.lesst
hant ha tofpeopleages20andove r.
b.aboutthes ameast hatofpe oplea ges20andover
.
c.abouttwi c
et hatofpeoplea ges2 0andover.
d.mor ethant hreeti
me sthatofpe opleages20andover
.
ANSWER:d. mor ethanthreeti
me st hatofpeopl
eages20andove
r.
TYPE:
M DIFFICULTY:2SECTI ON: 15.
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46. A r
oughe s
timateofthenat
ura
lrat
eofune
mpl
oyme
nti
s
a.1 .
5percent.
b.3pe r
cent.
c.5 .
5percent.
d.7pe r
cent.
ANSWER: c
. 5
.5perc
ent.
TYPE:
M DIFFICULTY:2SECTI ON:15.
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47. Sinc
eWor l
dWarI I
,thelabor-
forcepart
icipati
onrate
a. hasincreas
e dforbothme na ndwome n.
b.inc r
easedforwome na ndde cr
ease
df orme n.
c. hasde c
reasedforbothme nandwome n.
d.de crease
df orwome nandi ncrease
df orme n.
ANSWER: b. increas
edforwome nandde cre a
sedformen.
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
48. Jus
taf t
erWor l
dWarII,thelabor-f
orc
eparti
cipa
tionr
ateofwome
nwas
a.a bout1/3a ndcur
rentlyisabout1/2
.
b.a bout1/3a ndcur
rentlyisabout3/5
.
c.a bout1/2a ndcur
rentlyisabout3/5
.
d.about3/5a ndcur
rentlyisabout1/2
.
ANSWER: b. about1
/3a ndc urrent
lyi
sabout3/5.
TYPE:
M DI FFICULTY:2SECTI ON: 15.1
49. Jus
taf t
erWor l
dWarI I
,thelabor-
forceparti
cipa
tionr
ateofme
nwas
a.a bout90andc urr
entl
yi sabout75.
b.a bout75andc urr
entl
yi sabout65.
c.a bout90andc urr
entl
yi sabout65.
d.about75a ndcurr
entl
yi sabout75.
ANSWER: a. about90andc urr
entl
yisa bout75.
TYPE:
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4/18/23, 7:21 PM Macroeconomic Test Bank 10
51. Sinc
e1 950,thelaborforceparti
cipat
ionrat
eofwome nhas
a.inc r
ea s
ed.Thi scanbea t
tri
butedtolongerli
ves.
b.inc r
ea s
ed.Thi scanbea t
tri
butedpa r
tl
yt oadvancesinbirt
hcont
rol.
c. decreased.Thisc a
nbea tt
ribute
dpar t
lytolongerschooli
ng.
d.de creased.Thiscanbea tt
ribute
dpar t
lytoincre
asesintheminimum wage.
ANSWER: b. increase
d. Thiscanbea t
tri
butedpartl
ytoa dvancesi
nbir
thcont
rol
.
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
52. Ifa
nune mplo yedpersonquitslooki ngforwor k,cet
eri
spari
bus
,theune
mpl
oyme
ntr
ate
a. dec r
eases,andtheparti
cipationr ateincre
ases
b.de c r
eases,andtheparti
cipationr atedecreases
c.s t
a ysthes ame,andthepar t
icipationr a
tede c
reases
d.andt helaborforcepart
ici
pa tionr at
es t
aythes ame.
ANSWER: b. de cre
ases,andthepar t
icipat
ionratede c
rease
s
TYPE:
M DI FFICULTY:2SECTI ON: 15.1
53. Rec
ententr
antsint
ot hela
borf
orceacc
ountfora
bout
a.1/5ofthosewhoa r
eunemploye
d.
b.1/4ofthosewhoa r
eunemploye
d.
c.1/3ofthosewhoa r
eunemploye
d.
d.1/2ofthosewhoa r
eunemploye
d.
ANSWER:c. 1/3ofthosewhoareunemploye
d.
TYPE:
M DIFFI
CULTY:2SECTI ON:15.
1
54. Spe
llsofunemploymentendabout
a.1/5oft het
imewi t
hthepersonleavi
ngt
helaborfor
ce.
b.1/4oft het
imewi t
hthepersonleavi
ngt
helaborfor
ce.
c.1/3oft het
imewi t
hthepersonleavi
ngt
helaborfor
ce.
d.1/2oft het
imewi t
hthepersonleavi
ngt
helaborfor
ce.
ANSWER:d. 1/2oftheti
mewitht hepers
onl
eavingthelaborf
orc
e.
TYPE:
M DIFFICULTY:2SECTI ON:
15. 1
55. Rec
ente ntr
antsintothelaborforceacc
ountforabout
a.1/2oft hosewhoa r
eune mpl oye
d.Spell
sofunempl oymentendabout1/5oft
hetimewit
hpeopl
elea
vingthe
laborforce.
b.1/3oft hosewhoa r
eune mpl oye
d.Spell
sofunempl oymentendabout1/2oft
hetimewit
hpeopl
elea
vingthe
laborforce.
c.1/4oft hosewhoa r
eune mpl oye
d.Spell
sofunempl oymentendabout1/2oft
hetimewit
hpeopl
elea
vingthe
laborforce.
d.1/4oft hosewhoa r
eune mpl oye
d.Spell
sofunempl oymentendabout1/5oft
hetimewit
hpeopl
elea
vingthe
laborforce
ANSWER: b. 1/3ofthosewhoa reunemployed.Spel
lsofunemploymentendabout1/2oft
heti
mewithpeopl
e
le
avingthelaborforce.
TYPE:
M DI FFI
CULTY:2SECTI ON: 15.1
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TYPE:
M DI
FFI
CULTY:2SECTI
ON:
15.
1
60. Somepe oplearec ountedasoutoft helaborf orcebe causet heyha vemadenos eri
ousorrecentefforttol
ookfor
work.Howe ver
,s omeoft he s
epe oplema ywa ntt owor keve nthought heyaretoodisc
ouragedtoma keaser
ious
effor tt
olookf orwor k.Ifthesepersonswe rec ount edasune mployedinsteadofoutofthelaborfor
ce,
a. boththeunempl oymentr ateandlabor-f
orc epar ti
cipa
tionr atewoul dbehigher.
b.t heunemployme ntratewoul dbehi gherandt helabor-forcepartic
ipati
onr a
tewouldbel ower.
c.t heunemployme ntratewoul dbelowe randt hel a
bor-forcepar t
ici
pati
onr at
ewouldbehi gher.
d.Noneoft heabovea r
ec orr
e ct
.
ANSWER: a. bot
ht heune mpl oyme ntrat
ea ndl abor -
forcepar ti
ci
pa ti
onratewouldbehi gher
.
TYPE:
M DI FFI
CULTY:2SECTI ON: 15.
1
61. Dis
couragedworkers
a.arenotcountedeit
heraspa rtoftheadultpopulationoraspartofthelaborfor
ce.
b.arecountedaspartoftheadul tpopula
tion,butnotaspa r
tofthelaborforce
.
c.arecountedaspartoftheadul tpopula
tion,anda sunemployed.
d.Nonet heabovearecorre
ct.
ANSWER:b. arecount
eda spartoft headul
tpopul a
tion,butnotaspartofthelaborfor
ce.
TYPE:
M DIFFI
CULTY:1SECTI ON: 15.1
62. Cons i
dertwope oplewhoar ecur re
nt l
youtofwor k.Debi
snotcur
rentl
ylooki
ngforworkbutwoul dli
keajob.
Althoughs hei snotcurrent
lysearchingf orwor k,shehasdonesoatsometimeinthere
centpas
t.Tedisnotlooki
ng
forwork,be causehedoe sn’
tthinkt herea r
ejobst hathewouldqual
if
yforavai
labl
e.TheBLSconsider
s
a. bothDe ba ndTedtobedi scouragedwor kers.
b.onl yTedt obeadi s
couragedwor ker.
c. onlyDe bt obeadi scour
agedwor ke r
.
d.Ne i
therDe bnorTedt obedi sc
our agedwor kers.
ANSWER: b. onlyTedtobeadi s
c ouragedwor ke
r.
TYPE:
M DI FFICULTY:2SECTI ON:28.1
about:blank 9/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
64. Ma r
ginallya tt
achedwor kersarepe oplewho
a.a relookingf orabetterjobthant heycur
rentl
yha ve.
b.a renotwor kingandar enotlookingforwork, butwoul dworkifa
ske
d.
c.a rewor kingpa rt
-ti
mewhi letheygotoschoolorge ttr
a i
ningf
orabett
erjob.
d.ar eonlyaf ew ye
arsfrom retire
me nt.
ANSWER: b. arenotwor ki
ngandar enotlookingforwor k,butwouldwor
ki faske
d.
TYPE:M DI FFICULTY:3SECTI ON: 15.1
Usethefoll
owi ngt abletoanswert hefoll
owingfiveque sti
ons.
Ca
tegor
y NumberofPeopl
e
(inmi
lli
ons)
CivilianLa borForce 100
Personsune mployed1 5we eksorlonge
r 1.6
Jobl osersandpe rsonswhoha vecomplet
ed 3.1
tempor aryjobs(exc l
udesj obleavers
)
Totalune mpl oyed 6
.2
Totalune mpl oyedpl usdiscour a
gedworkers 7
.0
Totalune mpl oyedpl usallma rginal
lya
ttac
hed 8.
1
wor ke r
s
Totalune mpl oyedpl usallma rginal
lya
ttac
hed 9
.2
wor ke r
splust ot
ale mploye dpar t
-t
imeforeconomi
c
reasons
65. Whatist
heU- 1measur
eoflaborunde
rut
il
iza
tion?
a.1.
6pe r
cent
b.3.
1pe r
cent
c.4.
7pe r
cent
d.6.
2pe r
cent
ANSWER:a. 1.
6per
cent
TYPE:
M DIFFI
CULTY:3SECTI ON:15.1
66. Whatist
heU- 3measur
eoflaborunde
rut
il
iza
tion?
a.4.
7pe r
cent
b.6.
2pe r
cent
c.7.
0pe r
cent
d.8.
1pe r
cent
ANSWER:b. 6.
2per
cent
TYPE:
M DIFFI
CULTY:3SECTI ON:15.1
67. Whatist
heU- 4measur
eoflaborunde
rut
il
iza
tion?
a.6.
2pe r
cent
b.6.
9pe r
cent
c.7.
0pe r
cent
d.8.
1pe r
cent
ANSWER:b. 6.
9per
cent
TYPE:
M DIFFI
CULTY:3SECTI ON:15.1
about:blank 10/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
68. Whatist
heU- 5meas
ureoflaborunde
rut
il
iza
tion?
a.7.
0pe r
cent
b.7.
95pe r
c ent
c.8.
1pe r
cent
d.9.
2pe r
cent
ANSWER:b. 7.95pe
rcent
TYPE:
M DIFFI
CULTY:3SECTI ON:15.1
69. Whatist
heU- 6measur
eoflaborunde
rut
il
iza
tion?
a.7.
95pe r
cent
b.8.
1pe r
cent
c.9.
0pe r
cent
d.9.
2pe r
cent
ANSWER:c. 9.
0per
cent
TYPE:
M DIFFI
CULTY:3SECTI ON:15.1
72. Whi c
hoft hef ol
lowi ngstatementsiscorr
ect?
a. Thereisnoe asywa yt ofixt heune mploymentr atea
sr eport
edbyt heBLSt omakeitamor erel
iableindicatorof
conditi
onsi nt helabormar ket
.
b.The rea r
es everaleasywa yse c
onomi s
tshaveidentifiedt ofixt hereport
edune mploymentrat
et omakei tamor e
reli
ableindicatorofcondi t
ionsinthelabormarke t
.
c. Thereisonee asywa yoffixi ngtheunemployme ntrateasr e
portedbytheBLSt omakei tamorer el
iableindicat
or
ofconditionsi nthelaborma rket.
d.Ec onomi stshavedet erminedthattheune mpl
oyme ntrat
ea srepor
tedbyt heBLSisape rf
ect
lyrel
iablei
ndi cator
ofconditionsi nthelaborma rket.
ANSWER: a. The rei snoeas ywaytofixt heunempl oyme ntrateasre
por t
edbyt heBLStomakei tamor erelia
bl e
indicatorofc ondit
ionsinthelabormarke t
.
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
73. Whi c
hoft hefoll
owingisc orrect
?
a. Short-
ter
m une mployme ntisamor ese
riousprobl
emt hanlong-
ter
m unemployme
nt.
b.Mos tspel
lsofunempl oyme ntarelongterm.
c. Mos tofthecurre
ntlyune mployedha vebeenune mployedalongti
me.
d.Noneoft heabovea recorrect
.
ANSWER: c. Mos toft
hec urrentl
yune mployedha vebee
nune mployedalongti
me .
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
74. Mostspe
llsofunempl oymentare
a.long,andmos tune mpl
oyme ntobs
erveda tanygivent i
mei slongterm.
b.long,butmostune mploymentobservedatanygi ve nti
mei sshortte
rm.
c.short
, butmostune mploymentobservedatanygi ventimeislongt e
rm.
d.short
, andmos tunemploymentobservedata nygive nti
mei sshortte
rm.
ANSWER:c. s
hor
t,butmos tunemployme ntobse
r veda tanygiventimeislongt
erm.
TYPE:
M DIFFI
CULTY:2SECTI ON: 15.1
about:blank 11/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
75. Ifs
ome onebe c
ameune mploye d,i
tisl i
kely
a.t hattheywi llbeunempl oyedal ongt imeandthatmos toftheune mployedtheyj oi
nhavebe enune mployeda
l
ongt i
me .
b.t hattheywi llbeunempl oyedf oralongt i
me,eventhoughmos toftheune mployedtheyjoinhavebe e
n
unempl oyedf orashorttime .
c.t hattheywi llbeunempl oyedf oras hortt
ime,eve
nt houghmos toftheunempl oyedthe
yj oinhavebeen
unempl oyedf oralongtime .
d.t hattheywi llbeunempl oyedforas hortt
ime,andthatmos toftheune mployedt he
yjoi
nha vebeenunempl o
yed
foras hortti
me .
ANSWER: c. tha
tt heywillbeune mpl oyedforashortti
me ,eve
nt houghmos toft
heune mploye dtheyjoi
nha vebeen
unempl oye
df oralongt ime .
TYPE:
M DI FFICULTY:2SECTI ON: 15.1
76. Whi c
hoft hefoll
owingisnotareas
onac
tua
lla
bormar
ket
sexpe
rie
nceune
mpl
oyme
nt?
a. unions
b.jobs earc
h
c. fle xibl
ewage s
d.mi nimum- wa gel
egi
sla
tion
ANSWER: c. fle xi
blewages
TYPE:
M DI FFICULTY1SECTI ON 2 8.
1
77. Curtisi
sas tockbroker
.Heha shads e veralj
oboffe rs,buthehasturnedthem downbecausehethi
nkshec
anfinda
fir mt hatbette
rma tcheshistastesands kil
ls.J
ohni sa na c
count
ant.Heha sl
ookedforworkfors
omet i
me,butno
acc
ount i
ngfir msa rehiri
ng.
a.J ohnandCur ti
sa r
ebothf r
ictional l
yune mpl oyed.
b.J ohnandCur ti
sa r
eboths t
ruc turallyune mpl oyed.
c. Curtisisfr
icti
onall
yune mpl oyed, andJ ohni sstructural
lyunemployed.
d.Cur tisisst
ructurall
yune mpl oyed,a ndJ ohni sfri
ctional
lyunemployed.
ANSWER: c. Cur t
isisfri
cti
onall
yune mpl oyed,a ndJ ohni sst
ruct
ural
lyune mpl
oyed.
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
78. Me ri
dethislookingforwor ka sacomput erprogramme r.Althoughherprospect
saregoodsheha
sn’
tyett
akenaj
ob.
Juli
eislookingforwor kinas tee
lmi ll
,butt herea re
n’tma nyjobadsforstee
lwor ke
rsandever
yti
mes hes
howsup
foranintervie
w, t
herear emanymor epe oplethanope ni ngs.
a. Me redi
tha ndJuliearebothfrict
ionallyune mpl oye d.
b.Me redi
tha ndJulieareboths t
ructurall
yune mpl oyed.
c. Me redi
thisfric
tionall
yune mploye d,andJ ulieisstr uctur
a l
lyunemployed.
d.Me redi
thisstructurall
yune mployed,a ndJ uli
ei sfricti
ona l
lyunemployed.
ANSWER: c. Meredit
hi sfri
cti
onall
yunempl oye
da ndJ ulieisstruc
tur
all
yune mployed.
TYPE:
M DI FFICULTY:2SECTI ON: 15.1
79. Nancyisse
archingforajobt hats ui
tshe rtaste
saboutwhe r
etoli
veandthepeopl
eshewor
kswi
th.Laur
aisl
ooki
ng
foraj
obthatmake sbestuseofhe rskil
ls.
a. NancyandLaur aarebothf ri
c ti
onallyune mployed.
b.Nanc yandLaur aareboths tructurallyunempl oyed.
c. Nancyisf
ric
t i
onall
yune mpl oyed,a ndLaur aisstruc
turall
yunempl
oyed.
d.Na ncyiss
tructura
llyunempl oyed,a ndLa uraisfr
ict
ionall
yunemplo
yed.
ANSWER: a
. Nanc yandLaur aa r
ebot hfrict
ionall
yune mployed.
TYPE:
M DIFFICULTY:2SECTI ON: 15.1
about:blank 12/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
82. Jobs
earch
a.explai
nswhyfir mspa ylessthanthecompe ti
ti
vee qui
li
brium wage.
b.isdues i
mplytothefail
ureofwa gestobala
nc elaborsupplyandlaborde
mand.
c.istheproce
ssofma t
chingwor kerswithappropriat
ejobs.
d.Alloftheabovearecorrec
t.
ANSWER:c. ist
heproces
sofma tc
hingwor ke
rswi thappropri
atejobs
.
TYPE:
M DIFFICULTY:1SECTI ON: 15.
1
84. Sec
toralshi
ftsi
nt heeconomy
a.c r
eatestr
ucturalunemployme nt
.
b.imme di
atel
yr educeunemployme nt
.
c.increaseunempl oymentduetojobsearc
h.
d.onne tleaveune mploymentunchanged.
ANSWER: c. i
ncreaseunemployme ntduetoj
obse
arc
h.
TYPE:
M DIFFICULTY:1SECTI ON: 15.
1
85. From ti
met otimethedemandf orwor kershasris
e ninoneregionoft
heUni
tedSt
ate
sandf
all
eni
nanot
her
.Thi
s
il
lus
trate
s
a.fricti
onalunempl oyme ntc reat
edbye ffic i
enc ywages.
b.s t
ructuralunempl oymentc r
eatedbye ffic iencywa ge
s.
c.fricti
onalunempl oyme ntc reat
edbys ect
oralshifts
.
d.s t
ructuralunempl oyme ntc r
eatedbys ec
toralshift
s.
ANSWER: c. fri
cti
onalune mpl oyme ntcre
atedbys ectorals
hif
ts.
TYPE:
M DI FFICULTY:1SECTI ON: 15.
1
87. Fri
cti
onalune mployme ntcanbet heconseque nc
eof
a. workersleavi
nge xist
ingjobstofindonest heyli
kebe
tte
r.
b.a nindustrydecli
ningwhi l
eanotherisgrowing.
c.c hangesinthewor kingconditionsoffe redbycompet
ingfir
ms.
d.Al loftheabovea recorre
c t
.
ANSWER: d. Allofthea bovearecorrect
.
TYPE:
M DI FFI
CULTY:1SECTI ON: 15.
1
about:blank 13/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
89. Whi c
hoft hef oll
owingi sincorrec
t?
a. Fric
tionalune mployme ntisinevit
ableinadyna mi ceconomy.
b.Al thought heune mpl oyme ntcre
atedbys e
ctoralshift
sisunf
ortunate
,inthel
ongr
uns
uchc
hangesl
eadt
ohi
ghe
r
produc t
ivityandhi gherli
vings t
andards.
c. Atleast10pe rce
ntofU. S.manufacturi
ngjobsa r
ede str
oyedeveryyear.
d.I nat ypicalmonthmor ethan5pe r
centofwor ker
sl e
avethei
rjobs.
ANSWER: d. Inat ypicalmont hmor ethan5pe rcentofwor ker
sle
avet he
irjobs
.
TYPE:
M DI FFICULTY:1SECTI ON: 15.1
90. Thegovernmentope r
a t
esprogramsforjobtrainingandjobi nf
ormati
onint
endedtore
duc eune
mployme nt.
a. Almostalle
conomi st
sagreethatsuchprogr amsa r
eofnous e.
b.Al mostalle
conomi st
sagreethatsuchprogr amswor kverywe l
l.
c. Somee c
onomistsclai
mt hatthegovernme ntca ndothe
s ethi
ngsnobett
ertha
nfir msandindi
vidualscoulddo
themforthemsel
ve s
.
d.Noneoft heabovea recorrect
.
ANSWER: c. Somee conomi s
tsclai
mt hatthegove rnmentca
ndot he
sethi
ngsnobett
erthanfirmsa ndindividual
s
coulddot hemf orthemsel
ves.
TYPE:
M DI FFI
CULTY:1SECTI ON: 15.
1
93. A t
ypi c
alAmer i
canwor kercove r
edbyunemploymentins
ura
ncer
ece
ive
s
a.6 5pe rc
entofthei
rforme rwage sf
or26weeks.
b.5 0pe rc
entofthei
rforme rwage sf
or26weeks.
c.3 5pe rc
entofthei
rforme rwage sf
or39weeks.
d.Noneoft heabovearec orrect
.
ANSWER: b. 50perce
ntoft heirformerwage
sfor26weeks.
TYPE:
M DI FFICULTY:1SECTI ON: 15.
2
94. Economis t
shavefounde vi
dencethatre
ceivingunemployment-i
nsur
anc
ebenefit
s
a. decreasest
hejob-se
archeffor toft
heune mployed.
b.hasnoeffe ctonthejob-s
earc
he ffor toft
heune mploye
d.
c.i ncr
ea s
esthejob-
searcheffortoftheune mploye
d.
d.hasa nunc ert
ainaffe ctonthejob-
searcheffortoftheune mpl
oye
d.
ANSWER: a. decre
asesthejob-s
earc
he ffor toft
heune mploye
d.
TYPE:
M DI FFICULTY:1SECTI ON: 15.
2
about:blank 14/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
96. Mosteconomi s
tsagreethateli
mi na
tingune mploymentinsura nc ewould
a.incr
e aseunemployme ntbecausepe oplewoul dquitj
obst he ythoughtwe r
enots e
cure.
b.incr
e aseunemployme ntbecausei ft
hegove rnmentdidn’tpr ovideunempl oymentins
uranc
e,pr
ivat
efir mswoul
d
offe rsuperi
orinsurance.
c.reduceune mployme ntands oimpr oveeconomicwe ll
-being.
d.reduceune mployme nt,buttheydi s
agreeaboutwhe therec onomicwe ll
-beingwouldbeenhanc
edbys ucha
change .
ANSWER:d. r
educeune mployme nt,buttheydisagreeaboutwhe thereconomicwe l
l-
beingwouldbeenhance
dby
s
uchac hange.
TYPE:
M DIFFICULTY:2SECTI ON: 15.2
97. Aninc r
easeinthewor l
dpriceofoilwouldc re
ateasect
orals
hifttha
twoul dl
ikel
y
a. decreaseunemployment,andthedecre asewoul dbegrea
terinac ount
rywithunemploymentinsur
a ncethanin
onewi thout
.
b.de creaseunemployment,butthedecreas ewouldbes mal
lerinac ount
rywithunemploymentinsur
a ncethanin
onewi thout
.
c.inc r
ea s
eune mployment
,andt heinc
reas ewoul dbegreat
erinac ountr
ywi t
hunemploymentinsurancethanin
onewi thout
.
d.inc r
easeune mployment
,buttheincreas ewouldbes mall
erinac ountr
ywi t
hunemploymentinsura
nc ethanin
onewi thout
.
ANSWER: c. incr
easeunemployme nt
,andt hei ncr
easewouldbegr ea
terinacountrywi
thunemployme ntinsuranc
e
thaninonewithout.
TYPE:
M DI FFICULTY:2SECTI ON: 15.
2
100. Anincr
easeint hemi ni
mum wa gewould
a.incr
ea s
ebot hthequantit
ydemande dandt
hequanti
tys uppl
iedofl
abor.
b.decreaseboththequantityde mandedandthequant
itysuppli
edoflabor
.
c.incr
ea s
ethequant it
yoflaborde mandedwhil
edecrea
s i
ngthequanti
tysuppl
ied.
d.decreasethequa nti
tyoflabordemandedwhilei
ncre
as i
ngthequantit
ysuppl
ied.
ANSWER: d. de c
reasethequantityofla
bordemandedwhileincre
asingt
hequanti
tysuppl
ied.
TYPE:M DIFFICULTY:2SECTI ON: 15.3
about:blank 15/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
101. Ift
hemi ni
mum wagewasc urrent
lyabovetheequi
libr
ium wage,thanade c
reasei
nthemini
mum wa
gewoul
d
a.increas
eboththequantit
ydemande dandthequantit
ysuppliedoflabor.
b.de cr
easeboththequant
ityde mandedandthequa nti
tysuppli
e dofl
abor.
c.increas
ethequantit
yoflaborde mandedandde cre
asethequa nti
tysuppli
ed.
d.de cr
easethequanti
tyoflabordemandedandi ncre
asethequa nti
tysuppli
ed.
ANSWER: c
. incr
easethequantit
yoflabordemande dandde c
reasethequantit
ysuppl
ied.
TYPE:M DIFFICULTY:2SECTI ON: 15.3
102. The
rewillbestruct
uralunemployme ntif
a.somewa gesarekeptabovet heequil
ibri
um level
.
b.somepe oplechoosenottowor kattheequil
ibri
um wage.
c.somewa gesarebelow t
hee quil
ibri
um level
.
d.Alloftheabovecouldbec orre
ct.
ANSWER: a. somewa gesarekeptabovet heequi
libr
ium l
eve
l.
TYPE:M DIFFI
CULTY:1SECTI ON: 15.3
Thef
oll
owi
ngt
hre
eque
sti
onsar
ebas
edont
hefigur
ebe
low whi
chs
howst
hee
ffe
ctofami
nimum-
wagel
aw.
105. Theequi
li
brium wageandemploymenti
s
a.$6and2 0workers
.
b.$5and3 0workers
.
c.$4and4 0workers
d.Anyoft heabovecoul
dbecorre
ct.
ANSWER: b. $5and30worker
s.
TYPE:M DIFFI
CULTY:1SECTI ON:15.3
about:blank 16/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
106. Ift
herewasnomi ni
mum wa geandthenthegove
rnme
nti
nst
it
ute
dami
nimum wa
geof$
6,i
nthi
sma
rke
t
a.e mploymentwouldriseby10.
b.e mploymentwouldfallby20.
c. unemploymentwouldi nc
reas
eby1 0.
d.une mploymentwoul
di nc
reas
eby2 0.
ANSWER: d. unemploymentwoul dincr
easeby20.
TYPE:M DI FFI
CULTY:2SECTI ON: 15.
3
107. Ift
herewasami ni
mum wa geof$4andthenthegove
rnme
nti
nst
itut
edami
nimum wa
geof$
5,
a. unemploymentwouldbeunchanged.
b.unempl oymentwoulddropby10.
c. unemploymentwouldri
seby1 0.
d.une mploymentwoul
dr i
seby2 0.
ANSWER: a. unemploymentwouldbeunchanged.
TYPE:M DI FFI
CULTY:2SECTION: 15.
3
Us
ethegr
aphbe
low t
oans
wert
hef
oll
owi
ngf
ourque
sti
ons
.
108. Ift
hemi nimum wagei s$5,t
henumbe rofpeopleune
mpl
oye
dis
a.4 0andi ftheminimum wagei s$6itis0.
b.2 0andi ftheminimum wagei s$6itis20.
c.4 0andi ftheminimum wagei s$6itis20.
d.0andi ft heminimum wa geis$6itis0.
ANSWER: d. 0a ndi
fthemi ni
mum wa geis$6iti
s0.
TYPE:M DI FFI
CULTY:2SECTI ON: 15.
3
109. Ift
hemi nimum wagef e
llfr
om $ 7to$5
a. unemploymentwoul dfallby20.
b.unempl oymentwoul dfallby40.
c. unemploymentwoul dbeunc hanged.
d.une mployme ntwouldriseby2 0.
ANSWER: b. une
mpl oymentwoul df a
llby40.
TYPE:M DI FFI
CULTY:2SECTI ON: 15.
3
110. Ift
hemi ni
mum wageros
efr
om $5to$7,
une
mpl
oymentwoul
d
a.r i
seby40.
b.r i
seby20.
c.fallby20.
d.fallby40.
ANSWER: a. ri
seby40.
TYPE:M DIFFICULTY:2SECTI
ON: 15.
3
about:blank 17/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
111. Ift
hemi ni
mum wageros
efr
om $6to$7,
une
mpl
oymentwoul
d
a.r i
seby40.
b.r i
seby20.
c.fallby20.
d.fallby40.
ANSWER: a. ri
seby40.
TYPE:M DIFFICULTY:2SECTI
ON: 15.
3
112. Coll
ectivebargai
ningref
erst
o
a.thepr oc
essbywhi c
hthegover nmentset
se x
empt i
onsf r
om themi ni
mum wa gela
w.
b.se tt
ingthesamewa geforallemployee
stopr eventje
alousyamongwor kers
.
c. fir mscoll
udingtosett
hewa gesofemployeesinor dertokeepthem below equi
li
bri
um.
d.thepr oc
essbywhichunionsa ndfir msa greeonthet er
msofe mployme nt.
ANSWER: d. theproces
sbywhi chunionsandfir msa greeonthetermsofempl oyment
.
TYPE:M DI FFICULTY:1SECTI ON: 15.
4
113. Bet
we enthe1940sandt oday,unionme mbershi
p
a.ros ef
rom aboutone-sixthtoone-t
hirdofthelaborforc
e.
b.ros ef
rom aboutone-thirdtoone-hal
fofthelaborforce
.
c.fellfr
om aboutone-ha l
ftoone -
thi
rdofthelaborforce.
d.fellfr
om aboutone-thirdtoone-si
xthofthelaborforce
.
ANSWER: d. fe
llfrom aboutone -t
hirdtoone-
sixt
hoft helaborf
orc
e.
TYPE:M DI FFI
CULTY:2SECTI ON: 15.4
about:blank 18/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
119. Unemploymentinsurance
a.andunionsbot hcreat
estruc t
uralunempl oyment.
b.andunionsbot hcreat
efricti
onalune mployment.
c.creat
esfr
ict
ionalunempl oyme ntanduni onscrea
testruct
ura
lunemployment
.
d.creat
esst
ructuralunempl oyme ntanduni onsc
reatefr
ict
iona
lunemployment
.
ANSWER: c. cr
eatesfri
cti
onalune mpl oymentanduni onscre
ates
truc
tur
alunemployme
nt.
TYPE:M DIFFICULTY:2SECTI ON: 15.4
124. Right-t
o-worklaws
a. guarante
ewor kerst
her i
ghttoform unions.
b.gi veworke r
si nauni oni
zedfir mt herighttochoosewhe therornottojoi
ntheunion.
c. preventempl oyersfrom hi
ri
ngpe rmanentreplacementsforworkerswhoa reonstr
ike.
d.s aythatwor kerscannotbefir e
dbe causeofincreas
esinwa gesbroughtaboutbycolle
cti
vebarga
ini
ng.
ANSWER: b. givewor kersinaunionizedfir mt herighttochoosewhe t
herornottojoi
nt heunion.
TYPE:M DI FFICULTY:1SECTI ON:15.
4
about:blank 19/27
4/18/23, 7:21 PM Macroeconomic Test Bank 10
128. Unions
a. donotinc rea
sethenaturalrateofunemployment.
b.donotr ais
ethewa gesofwor kersint
heunion.
c.r ai
sethepr ofitsoffir msthe yworkfor.
d.c ausewa gesofnonunionizedwor ker
stofall
.
ANSWER: d. causewa ge
sofnonuni oni
zedworkerst
ofall
.
TYPE:M DI FFICULTY:1SECTI ON: 15.
4
129. IfU.
S.anti
trustl
awswer eapplie
dt ounions
,
a.thena t
uralrat
eofune mployme ntrat
ewouldinc
rease,cet
eri
sparib
us.
b.thena t
uralrat
eofune mployme ntrat
ewoulddecre
ase,cete
rispar
ibus.
c.thena t
uralrat
eofune mployme ntrat
ewouldnotchange.
d.theeffe c
tont henatur
alrateofunemploymentrat
ei suncert
ain.
ANSWER: b. thenaturalr
ateofune mploymentra
tewouldde creas,c
e ete
rispa
rib
us.
TYPE:M DIFFICULTY:2SECTI ON: 15.4
130. Whi c
hoft hefol
lowingisc or
rec
t?
a. Thereisconsensusamonge conomi s
tst
hatunionsaregoodf ortheeconomy.
b.The reisconsensusamonge conomi s
tst
hatunionsarebadf ortheeconomy.
c. Thereisconsensusamonge conomi s
tst
hat,onnet,
uni onshavea l
mos tnoi
mpactonmacr
oe c
onomicvar
iabl
es.
d.Ther eisnocons ens
usa monge conomis
tsaboutwhe therunionsaregoodorbadfort
heeconomy.
ANSWER: d. Ther
ei snoc onse
nsusa mongeconomistsaboutwhe therunionsar
egoodorbadf
ort hee
conomy.
TYPE:M DI FFI
CULTY:1SECTI ON:15.4
132. Sar
ahistheCEO ofac orpor at
i ont hathi
re snonunionl
abor.Ac
cor
dingtot
het
heor
yofe
ffic
ienc
ywage
s,i
fshe
dec
idestopayherwor kersmor et hanthec ompe t
it
iveequi
li
bri
um wage
,
a.theprofit sofherfir m ma yi ncr
eas e.
b.thehigherwageswi llinduc ehe rwor kerstoshi
rk.
c.theturnoverofherwor ker
sma yincr
e ase.
d.shewi l
lfaceashortageofl a bor.
ANSWER: a
. theprofit sofhe rfir m ma yincre
ase.
TYPE:M DIFFICULTY:1SECTI ON: 15.5
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