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Exam 23: Unemployment

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Question 71

Multiple Choice

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You have four friends. Which of your friends can be described as "cyclically unemployed"?

A) Regan, who is in a nursing home
B) Keele, who lost her job after her company lost a lot of customers during an economic downturn
C) Arthur, who quit his job to look for a better job
D) Martha, who is a full-time stay-at-home parent

E) All of the above
F) C) and D)

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Question 72

Multiple Choice

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If the frictional rate of unemployment is 1.45%, the structural rate of unemployment is 2.3%, and the total unemployment rate is 6%, then we can conclude that:

A) there is 2.25% actual unemployment.
B) the labor force participation rate has fallen significantly.
C) the economy is experiencing an economic boom.
D) the equilibrium rate of unemployment is 3.75%.

E) All of the above
F) B) and C)

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Question 73

Multiple Choice

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A minimum wage of $7.25 per hour can cause structural unemployment if the equilibrium wage is:

Suppose that the graph depicts the labor market for personal care aides in Morgantown, West Virginia. If the government enacts a minimum wage of $11, the number of employed workers:

You make some new friends at a party. Which of your new friends described here is unemployed?

Suppose a labor market is described by the demand equation, Q_d = 60 - 2w, and the supply equation, Q_s = -10 + w, where Q_d is the quantity demanded of labor, Q_s is the quantity supplied of labor, and w is the wage (in dollars) . What is the equilibrium wage in this labor market?

The table shows Canada's labor force characteristics. What was Canada's labor force participation rate in March 2019? $\begin{array} { | l | c | c | c | } \hline & \text { January 2019 } & \text { March 2019 } & \text { May 2019 } \\\hline \begin{array} { l } \text { Number of people of } \\\text { working age }\end{array} & 30,526,600 & 30,582,400 & 30,662,400 \\\hline \text { Labor force } & & 20,079,700 & 20,138,600 \\\hline \text { Employed } & 18,873,900 & 18,922,600 & \\\hline \text { Unemployed } & 1,162,000 & 1,157,200 & 1,081,800 \\\hline \begin{array} { l } \text { Labor force } \\\text { participation rate }\end{array} & 65.6 \% & & 65.7 \% \\\hline \text { Unemployment rate } & 5.8 \% & & \\\hline\end{array}$

Which of following people can be classified as structurally unemployed?

You have four friends. Which of your friends can be described as "frictionally unemployed"?

(Table: Population Data for Estill County) What is the labor force participation rate?

Which of the following is NOT a reason that female labor force participation increased to 60% in the United States?

Which situation is likely to lead to an increase in marginally attached workers?

Discouraged workers are _____.

In a 2011 to 2012 labor force survey, the working age population in Uganda was 15,764,000. The labor force was 12,623,000. What was the labor force participation rate in Uganda?

In order to protect yourself from the harmful effects of unemployment, you should:

Consider the labor market shown here. If an efficiency wage of $45 is instituted, the number of workers who are:

Consider the labor market shown here. If an efficiency wage of $14 is instituted in this market, the number of workers willing to work will:

The table shows statistics for three Canadian cities at several different points in time. What was the number of people (in thousands) in Montreal's labor force in January 2005?

Josue is between jobs right now. He worked for 10 years as an editor of a small magazine but left his job due to dissatisfaction with his salary. He is looking for a new job as a magazine editor, but he finds that these jobs now require the use of software programs and editing technology that he is not familiar with, so he is unable to secure employment. What is Josue's labor market status?

Refer to the following table that shows monthly data for Japan. What was the unemployment rate in January 2014? ${ \text { Japan } } \\\begin{array} { | l | c | c | c | } \hline \text { Month and year } & \begin{array} { c } \text { Labor force - male } \\\text { (millions) }\end{array} & \begin{array} { c } \text { Labor force - female } \\\text { (millions) }\end{array} & \begin{array} { c } \text { Number of } \\\text { unemployed people } \\\text { (millions) }\end{array} \\\hline \text { January 2014 } & 37.6 & 28.1 & 2.4 \\\hline \text { June 2015 } & 37.7 & 28.6 & 2.2 \\\hline \text { December 2016 } & 38.0 & 29.2 & 2.0 \\\hline \text { March 2017 } & 37.7 & 29.0 & 1.9 \\\hline \text { December 2017 } & 37.8 & 29.7 & 1.8 \\\hline\end{array}$