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Exam 28: Unemployment

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Question 121

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The National Labor Relations Board

A) enforces antitrust laws against unions.
B) enforces workers' rights to unionize.
C) acts as a union's representative in collective bargaining.
D) is required to approve all collective bargaining agreements before they can be enforced.

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

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Question 122

True/False

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Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search.

A) True
B) False

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Question 123

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Economists at the Congressional Budget Office estimated that for 2012, the U.S. natural rate of unemployment was about 5.5 percent.

Minimum wage laws, labor unions, and efficiency wages all generate unemployment by what common mechanism?

In the 1990's Ireland made unemployment benefits less generous. This change would likely have reduced

Long-run unemployment arises from a single problem that has a single solution.

Marginally attached workers are people who are

The unemployment rate reported by the Bureau of Labor Statistics clearly understates the true unemployment rate.

Do economists believe that labor unions are good or bad for the U.S. economy?

The natural rate of unemployment

Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had remained steady.

Within the U.S. population, blacks of prime working age (ages 25-54) have similar rates of unemployment than whites of prime working age (ages 25-54), regardless of gender.

Unemployment insurance the amount of unemployment.

Minimum-wage laws are one reason there is always some unemployment in the U.S. economy.

Most U.S. workers have wages well above the legal minimum, so minimum-wage laws do not prevent the wage from adjusting to balance supply and demand.

The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market.

How are discouraged workers counted in the unemployment rate?

Suppose that consumers decide to walk to work more frequently and drive cars less. Companies that make walking shoes hire workers, while automobile companies lay off workers. This is an example of

Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero.

Causes of the changing role of women in American society over the past several decades include new technologies that have reduced the amount of time required to complete routine household tasks, improved birth control, and changing political and social attitudes.