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Exam 28: Unemployment and Its Natural Rate

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Question 181

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Within the U.S. population, teenagers (ages 16-19) have similar rates of labor-force participation than adults of prime working age (ages 25-54), regardless of race or gender.

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Question 182

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The labor-force participation rate equals the percentage of the total adult population that is in the labor force.

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Question 183

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If the wage is kept above the equilibrium wage for any reason, the result is structural unemployment.

In Belgium, Norway, and Sweden, the percentage of workers who belong to unions is

Table 28-5 2015 Labor Data for Tajnia $\begin{array} { | l | l | } \hline \text { Number of adults employed } & 10,000 \\\hline \text { Number of adults unemployed } & 2,250 \\\hline \text { Number of adults not in the labor force } & 17,750 \\\hline\end{array}$ -Refer to Table 28-5. The labor-force participation rate of Tajnia in 2015 is about 40.8 percent.

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

If an unemployed person quits looking for work, then, eventually the unemployment rate

Briefly describe how labor unions can affect wages in non-unionized industries.

Figure 28-1 -Refer to Figure 28-1. If the government imposes a minimum wage of $6, then how many workers will be unemployed?

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, there are more workers willing to work than there are jobs, so some workers are unemployed.

The Bureau of Labor Statistics' U-4 measure of joblessness includes discouraged workers.

The natural rate of unemployment is any type of unemployment that does not go away on its own even in the long run.

The labor-force participation rate equals the percentage of the labor force that is either employed or unemployed.

The Bureau of Labor Statistics' U-1 measure of joblessness is larger than its U-6 measure of joblessness.

Unpaid stay-at-home fathers are included in the Bureau of Labor Statistics' "unemployed" category.

Kamila was absent from work because of a strep throat. Brian is not working but is available for work. Who does the Bureau of Labor Statistics count as "unemployed"?

Of the following groups, who is eligible for unemployment insurance benefits?

Define efficiency wages.

Compare the 2014 unemployment rates and labor-force participation rates of whites, blacks, adults of prime working age (ages 25-54), and teenagers (ages 16-19).

Frictional unemployment is often the result of changes in the demand for labor among different firms.