Chapter_6

Chapter_6 - Macroeconomics Test Yourself Chapter6 For the...

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Macroeconomics Test Yourself Chapter6 For the next questions, assume the following: The U.S. non-institutional civilian population is 250 million, of which 100 million are employed and 10 million are unemployed. 1. Based on the data above, the unemployment rate is a. 4%. b. 6.6%. c. 9.1%. d. 10%. e. 11.1%. 2. Based on the data above, the labor force participation rate is a. 36%. b. 40%. c. 44%. d. 90.1%. e. 66%. 3. Based on the data above, the non-employment rate is a. 4%. b. 9.1%. c. 10%. d. 60%. e. 66%. 4. The labor market is primarily responsible for determining which of the following variables? a. wages b. prices c. interest rates d. all of the above e. none of the above 5. Which of the following facts about wage setting is true? a. Most workers in the U.S. have their wages set by collective bargaining. b. Collective bargaining plays a more important role in Japan and Western Europe than in the United States. c. The minimum wage in the U.S. is about 75% of the average wage.
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This note was uploaded on 08/03/2008 for the course BUAD 350 taught by Professor Safarzadeh during the Summer '07 term at USC.

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Chapter_6 - Macroeconomics Test Yourself Chapter6 For the...

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