布兰查德宏观经济学第七版第7版英文版chapter7.docx
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布兰查德宏观经济学第七版第7版英文版chapter7.docx
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布兰查德宏观经济学第七版第7版英文版chapter7
Macroeconomics,7e(Blanchard)
Chapter7:
TheLaborMarket
7.1ATouroftheLaborMarket
1)Whichofthefollowingisconsideredoutofthelaborforce?
A)theunemployed
B)thosetemporarilylaidoffwhowillsoonberecalled
C)thosewhoworkedfulltime,butinafamilybusiness
D)thoseindividualswhohavestartedsearchingforemploymentforthefirsttime
E)noneoftheabove
Answer:
E
Diff:
1
Usetheinformationprovidedbelowtoanswerthefollowingquestion(s).
Thenon-institutionalcivilianpopulationis250million,ofwhich100millionareemployedand10millionareunemployed.
2)Basedontheinformationabove,theunemploymentrateis
A)4%.
B)6.6%.
C)9.1%.
D)10%.
E)11.1%.
Answer:
C
Diff:
2
3)Basedontheinformationabove,thelaborforceparticipationrateis
A)36%.
B)40%.
C)44%.
D)90.1%.
E)66%.
Answer:
C
Diff:
2
4)Basedontheinformationabove,thenon-employmentrateis
A)4%.
B)9.1%.
C)10%.
D)60%.
E)66%.
Answer:
D
Diff:
2
5)Whichofthefollowingindividualswouldbeconsideredunemployed?
A)anindividualwhoworksonlypart-time
B)anindividualwhoworksfull-timeinafamilybusiness,butisnotpaid
C)anindividualwhoisnotworkingandisnotlookingforwork
D)alloftheabove
E)noneoftheabove
Answer:
E
Diff:
2
6)Basedonthedataprovidedinthechapter,whichofthefollowingrepresentsthelargestcomponentofthelaborforce?
A)discouragedworkers
B)retiredindividuals
C)employed
D)unemployed
Answer:
C
Diff:
1
7)Thelaborforceisdefinedas
A)thesumoftheemployedandunemployed.
B)thetotalnumberemployed.
C)thetotalnumberofworkingageindividualsinthepopulation.
D)thesumofthenumberofemployed,unemployedanddiscouragedindividuals.
Answer:
A
Diff:
1
8)TheparticipationrateintheUnitedStatesin2010wasapproximatelyequalto
A)96%.
B)90%.
C)65%.
D)26%.
E)5%.
Answer:
C
Diff:
1
9)Whichofthefollowingrepresentstheparticipationrate?
A)theratioofthenumberemployedtothesizeofthelaborforce
B)theratioofthenumberemployedtotheciviliannoninstitutionalpopulation
C)theratioofthelaborforcetotheciviliannoninstitutionalpopulation
D)theratioofthelaborforcetothetotalnumberofemployedandunemployedworkers
Answer:
C
Diff:
1
10)Theaverageamountoftimepeoplespendunemployedisapproximately
A)1month.
B)6months.
C)12months.
D)noneoftheabove
Answer:
D
Diff:
2
11)TheCurrentPopulationSurveyinterviewsapproximatelyhowmanyhouseholdseachmonth?
A)5,000
B)10,000
C)60,000
D)100,000
Answer:
C
Diff:
1
12)IntheUnitedStates,howmanyworkersbecomeunemployed,onaverage,everyday?
A)5,000
B)10,000
C)50,000
D)100,000
Answer:
C
Diff:
1
13)IntheUnitedStates,theaveragelengthoftimepeoplespendunemployedis
A)approximatelyonemonth.
B)betweentwoandthreemonths.
C)betweentenandelevenmonths.
D)greaterthantwelvemonths.
Answer:
B
Diff:
2
14)Areductionintheunemploymentratewilltendtocausewhichofthefollowing?
A)anincreaseintheseparationrate
B)areductioninthenominalwage
C)areductioninthedurationthatoneisunemployed
D)noneoftheabove
Answer:
C
Diff:
2
15)Whentheunemploymentrateislow,wewouldexpectthat
A)theprobabilityoflosingajobishigh.
B)theprobabilityoflosingajobislow.
C)theprobabilityanunemployedindividualwillfindanotherjobislow.
D)theseparationratewillincrease.
Answer:
B
Diff:
2
16)TheparticipationrateintheU.S.hasincreasedsteadilyovertime.First,explainwhattheparticipationraterepresents.Second,explainwhytheparticipationratehasincreased.
Answer:
Theparticipationrateistheratioofthelaborforcetotheworkingagepopulation.Oneofthereasonsforthesignificantincreaseintheparticipationrateistheincreasingparticipationofwomeninthelaborforce.
Diff:
2
17)Whateffectdoestheexistenceofdiscouragedworkershaveontheabilityoftheofficialunemploymentratetoprovideaccurateinformationabouttheextenttowhichlaborisemployed?
Answer:
Discouragedworkersareindividualswhohavestoppedsearchingforemploymentbecause,forexample,theyhavebecome"discouraged"withtheprospectsoffindingemployment.Oncetheystopsearching(after4weeks),theyarenolongercountedasunemployedand,therefore,inthelaborforce.Suchadynamicwouldcausetheofficialunemploymenttofall.Alternatively,theexistenceofdiscouragedworkersimpliesthattheofficialunemploymentrateunderestimatestheextenttowhichlaborisbeingisnotbeingused.Thisexplainswhytheexistenceofdiscouragedworkerscancausetheunemploymentratetobeanimperfectmeasureoftheutilizationoflabor.
Diff:
2
18)First,provideabriefexplanationofwhattheunemploymentratemeasures.Second,explainhowchangesineachofthecomponentsoftheunemploymentratecancausechangesintheunemploymentrate.
Answer:
Theunemploymentratemeasuresthepercentageofthelaborforcethatisunemployed.Theunemploymentrateisbasedonamonthlysurveyofhouseholds.Individualsareclassifiedasemployed,unemployed,oroutofthelaborforce.Individualsemployedorunemployedareinthelaborforce.Supposeindividualsdecidetoenterthelaborforceforthefirsttime.Thisincreaseinthesizeofthelaborforce,allelsefixed,wouldcauseanincreaseintheunemploymentrate.
Ontheotherhand,iftherewereanincreaseinthenumberofindividualsunemployed(causedby,forexample,firmslayingoffworkersasdemandfortheirproductsfalls),wewouldobservenochangeinthelaborforcebutanincreaseintheunemploymentrate.
Diff:
2
7.2MovementsinUnemployment
1)Dataonlabor-forceflowsshowthat
A)almostallseparationsareduetodeath.
B)almostallseparationsareduetoseriousillness.
C)almostallseparationsarequits.
D)almostallseparationsarelayoffs.
E)noneoftheabove
Answer:
E
Diff:
2
2)Dataonlabor-forceflowsshowthat
A)inanygivenmonth,almostnoneoftheunemployedgetsjobs.
B)inanygivenmonth,almostalloftheunemployedgetsjobs.
C)theaveragedurationofunemploymentisabout2weeks.
D)theaveragedurationofunemploymentisabout2years.
E)inanygivenmonth,aboutone-fourthoftheunemployedgetjobs.
Answer:
E
Diff:
2
3)Whichofthefollowingvariablesismostdirectlydeterminedinthelabormarket?
A)stockprices
B)nominalwages
C)interestrates
D)alloftheabove
E)noneoftheabove
Answer:
B
Diff:
1
4)Thetwolabormarketsinthe"duallabormarket"are
A)southernversusnorthern.
B)westernversuseastern.
C)Englishspeakingversusnon-Englishspeaking.
D)domesticversusforeign.
E)noneoftheabove
Answer:
E
Diff:
1
5)WhentheCurrentPopulationSurvey(CPS)wasintroducedin1940,itwasbasedonasurveyofapproximately8,000households.TheCPSsurveyisnowbasedonasurveyofhowmanyhouseholds?
A)8,000
B)10,000
C)12,000
D)20,000
E)60,000
Answer:
E
Diff:
2
6)Astheunemploymentratefalls,
A)theproportionoftheunemployedfindingajobincreases.
B)theseparationrateincreases.
C)theyoungandunskilledexperiencelarger-than-averagedecreasesinunemployment.
D)bothAandC.
E)alloftheabove
Answer:
D
Diff:
2
7.3WageDetermination
1)Whichofthefollowingstatementsaboutwagesettingistrue?
A)mostworkersintheU.S.havetheirwagessetbyformalcontracts.
B)formalcontractsplayamoreimportantroleinJapanandWesternEuropethanintheUnitedStates.
C)theminimumwageintheU.S.isabout75%oftheaveragewage.
D)alloftheabove
Answer:
B
Diff:
1
2)Thereservationwageis
A)thewagethatanemployermustpayworkerstoreduceturnovertoareasonablelevel.
B)thewagethatensuresalaid-offindividualwillwaitforre-hire,ratherthanfindanotherjob.
C)thelowestwagefirmsareallowedbylawtopayworkers.
D)thewageofferthatwillendalabor-strike.
E)noneoftheabove
Answer:
E
Diff:
1
3)Efficiencywagetheorysuggeststhat
A)workerswillbepaidlessthantheirreservationwage.
B)productivitymightdropifthewagerateistoolow.
C)thegovernmentcanonlysettaxratessohighbeforepeoplewillprefernottowork.
D)unskilledworkerswillhavealowerturnoverratethanskilledworkers.
E)firmswillbemoreresistanttowageincreasesasthelabormarkettightens.
Answer:
B
Diff:
2
4)Ifefficiencywagetheoryisvalid,wewouldexpectarelativelylowpremiumoverthereservationwagewhen
A)theunemploymentrateislow.
B)thejobrequiresverylittletraining.
C)workerscanbeeasilymonitored.
D)workershavefewotheroptionsforemploymentinthearea.
E)alloftheabove
Answer:
C
Diff:
2
5)HenryFord'sexperimentwithefficiencywagesresultedin
A)adramaticdropinproductivity.
B)adramaticincreaseintheturnoverrate.
C)areductioninthelayoffrate.
D)newproblemswiththeworkforce,likedrunkennessandrecklessdriving.
E)nonoticeableeffects.
Answer:
C
Diff:
2
6)Inthewage-settingrelation,thenominalwagetendstodecreasewhen
A)thepricelevelincreases.
B)theunemploymentratedecreases.
C)unemploymentbenefitsdecrease.
D)theminimumwageincreases.
E)alloftheabove
Answer:
C
Diff:
1
7)InthewagesettingrelationW=PeF(u,z),thevariablezdoesnotincludewhichofthefollowingvariables?
A)theminimumwage
B)unemploymentbenefits
C)theextenttowhichfirmsmarkuppricesovertheirmarginalcost
D)alloftheabove
E)noneoftheabove
Answer:
C
Diff:
1
8)Laborproductivityisrepresentedbywhichofthefollowing?
A)theratioofoutputtoemployment
B)work
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