Midterm - ECO 1102

# Midterm - ECO 1102 - University of Ottawa ECO 1102 B...

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University of Ottawa ECO 1102 B Name________________________ Midterm # 2 (March 28, 2008) Student number________________ 1 Instructions : Please fill in your name and student number on every page of the exam questionnaire and on the NCS sheet. Use the NCS sheet to answer the Multiple Choice questions and the True or False questions. This exam has nine pages—check that this copy has all of them. Good luck! Multiple-Choice Questions (66 points—2 points per question) Identify the letter of the choice that best completes the statement or answers the question. 1. Which of the following would be counted as unemployed according to official statistics? a. Brian, a full-time student who is not looking for work b. Kate, who is on temporary layoff c. Heath, who has retired and is not looking for work d. All of the above would be counted as unemployed. 2. Anna has just finished school and started looking for a job, but has not yet found one. As a result, the unemployment rate a. increases, and the labour-force participation rate is unaffected. b. increases, and the labour-force participation rate increases. c. is unaffected, and the labour-force participation rate increases. d. increases, and the labour-force participation rate decreases. 3. Which of the following is correct for people ages 15 to 24? In 2005, a. Men have higher rates of labour-force participation and lower unemployment rates than of women. b. Men have lower rates of labour-force participation and higher unemployment rates than of women. c. Men have similar rates of labour-force participation and lower unemployment rates than of women. d. Men have similar rates of labour-force participation and higher unemployment rates than of women. 4. A rough estimate of the natural rate of unemployment is a. 1.5 percent. b. 3 percent. c. 5.5 percent. d. 7 percent. 5. Consumers decide to buy more computers and fewer typewriters. As a result, computer companies expand production while typewriter companies lay-off workers. This is an example of a. structural unemployment created by efficiency wages. b. cyclical unemployment created by a recession. c. frictional unemployment created by a sectoral shift in demand. d. None of the above are correct.

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University of Ottawa ECO 1102 B Name________________________ Midterm # 2 (March 28, 2008) Student number________________ 2 6. Which of the following would be associated with the type of unemployment created by the minimum wage law? a. Greg quits his job as a grocery cashier because he would rather work at the library. b. Fred decides to close his Thai restaurant because he cannot afford to pay workers the going wage. c. In hopes of earning higher income Bruce goes back to trade school to get further training. d. Liz pays the workers for her plumbing and heating company more than the
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Midterm - ECO 1102 - University of Ottawa ECO 1102 B...

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