Exam 2 - SAMPLE QUESTIONS

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Unformatted text preview: yment. b. frictional unemployment, which does not contribute to the natural rate of unemployment. c. structural unemployment, which contributes to the natural rate of unemployment. d. structural unemployment, which does not contribute to the natural rate of unemployment. ____ 24. Suppose that because of the popularity of the low‐carb diet, bakeries need fewer workers and steak houses need more workers. This is an example of a. frictional unemployment created by efficiency wages. b. frictional unemployment created by sectoral shifts. c. structural unemployment created by efficiency wages. d. structural unemployment created by sectoral shifts. ____ 25. Which of the following is not among the four industries with the largest employment in the United States today? a. lumber b. aircraft c. communications d. electrical components 6 Name: ________________________ ID: A ____ 26. Which of the following is not correct? a. Frictional unemployment is inevitable in a dynamic economy. b. Although the unemployment created by sectoral shifts is unfortunate, in the long run such changes lead to higher productivity and higher living standards. c. At least 10 percent of U.S. manufacturing jobs are destroyed every year. d. More than 13 percent of U.S. workers leave their jobs in a typical month. ____ 27. Which of the following is not correct? a. The unemployment rate is an imperfect measure of a nation’s overall level of economic well‐being. b. Most job search in the U.S. economy takes place without intervention by the government. c. Most economists agree that eliminating unemployment insurance would increase the nation’s overall level of well...
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