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Exam 11: Unemployment and Labor Force Participation

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Question 41

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_____ reduce the quantity of labor demanded.

A) Minimum wages only
B) Union wages only
C) Both minimum wages and union wages
D) Neither minimum wages nor union wages

E) A) and D)
F) B) and C)

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Question 42

Multiple Choice

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What affects labor force participation rates?

A) the demographic structure of a population
B) the tax structure of an economy
C) technological advances such as the birth control pill
D) demographics, tax structure, and technological advances such as the birth control pill

E) B) and D)
F) B) and C)

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Question 43

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The United States has more extensive employment protection laws than Western Europe.

A country has 50 million people, 30 million of whom are adults. Of the adults, 5 million are not interested in working, another 5 million are interested in working but have given up looking for work, and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to work full time, and the remaining 10 million are working full time. How many discouraged workers does this country have?

Which of the following is NOT a factor that can increase structural unemployment?

How can people who are laid off from work due to a recession eventually turn into structurally unemployed people?

Use the following to answer questions: Table: Unemployment Statistics for Country X $\begin{array} { l l l } \hline \text { Type of Unemployment } & \mathbf { 1 9 9 5 } & \mathbf { 2 0 0 5 } \\\hline \text { Frictional unemployment } & 1.5 \% & 1 \% \\\text { Cyclical unemployment } & 3.4 \% & 4.7 \% \\\text { Structural unemployment } & 2.5 \% & 1.9 \% \\\hline\end{array}$ -(Table: Unemployment Statistics for Country X) Using the data in the table, what is the natural unemployment rate for this country in the year 2005?

Laws that make it more difficult (and more expensive) to fire workers:

Identify the effects of employment protection laws.

If the number of unemployed workers is 9.5 million and the number of employed workers is 146 million, what is the unemployment rate?

Which doctrine indicates that an employee may quit and an employer may fire an employee at any time for any reason?

Job-search programs and work tests for unemployed workers are likely to be sponsored by:

Long-lasting unemployment benefits tend to:

Which type of unemployment is an outcome of economist Joseph Schumpeter's "creative destruction" process within an industry?

Females started entering the labor force, and particularly professional schools, in increasing numbers beginning around:

Individuals who have given up looking for work but still would take a job are considered:

Discouraged workers are people who:

Use the following to answer questions: Table: Unemployment Statistics for Country X $\begin{array} { l l l } \hline \text { Type of Unemployment } & \mathbf { 1 9 9 5 } & \mathbf { 2 0 0 5 } \\\hline \text { Frictional unemployment } & 1.5 \% & 1 \% \\\text { Cyclical unemployment } & 3.4 \% & 4.7 \% \\\text { Structural unemployment } & 2.5 \% & 1.9 \% \\\hline\end{array}$ -(Table: Unemployment Statistics for Country X) Using the data in the table, Country X is likely to be in a recession in:

The natural rate of unemployment is defined as the rate of:

The persistently higher unemployment rates among European countries compared to the United States reflect higher structural unemployment in Europe.