Chapter 15 Test Questions Flashcards
(14 cards)
Right to work laws allow striking union members to be permanently replaced
T or F
True
Adults who were waiting to be recalled to a jog from which they had been laid off are included in the Bureau of Labor Statistics’ “employed” category
T or F
False
The amount of unemployment that a country typically experienced is a determinant if it’s standard of living
T or F
True
The labor force minus the number rod employed equals the number of unemployed
T or F
True
Most spells of unemployment are short, and most unemployment observed at any given time is short term
T or F
False
To be counted as employed in the US labor force statistics a person…
Does not have to be working for pay if they are working for a family business and does not have to be working full time
Meredith recently graduated from college but has not yet started working. To be counted as unemployed she…
Must have looked for work no more than 4 weeks ago
In 2008, based on concepts similar to those used to estimate US employment figures, the Japanese adult non-institutionalized population was 120.272 million, the labor force was 65.362 million, and the number of people employed was 62.242 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about…
59.3% and 4.8%
Which of the following is not one of the categories into which the Bureau of Labor statistics places each adult of each surveyed household
Underemployed
Mary worked part-time for her mother’s business without pay. Larry was absent from work because he had the flu. Who is counted as employed by the BLS
Both Mary and Larry
Suppose some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?
2.76 million
The theory of efficiency wages provides a possible explanation as to why…
Firms maybe be inclined to keep their workers’ wages above the equilibrium level
Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called…
Frictional unemployment
Monique is the newly appointed CEO of a company that manufactures external hard drives on an assembly line. Her staff has told her that the output the firm produces given the number of workers employed, indicates that some workers Jahn be shirking. According to efficiency wage theory, what should she do
Pay all workers more than the equilibrium wage rate
