1.Whichofthefollowingisnotcorrect?
a.Frictionalunemploymentresultsfromtheprocessofmatchingworkersandjobs.
b.Structuralunemploymentresultswhenthenumberofjobsisinsufficientforthenumberofworkers.
c.MinimumwagesarethepredominantreasonforunemploymentintheU.S.economy.
d.Whenaminimum-wagelawforcesthewagetoremainabovethelevelthatbalancessupplyanddemand,itraisesthequantityoflaborsuppliedandreducesthequantityoflabordemandedcomparedtotheequilibriumlevel.
2.Minimum-wagelaws
a.createunemployment.
b.donotapplyinstateswithright-to-worklaws.
c.affecthighly-educatedworkersmorethanhighschooldropouts.
d.causelaborshortages,whichfurtherraisewagesaboveequilibrium.
3.Minimum-wagelaws
a.reduceunemployment.
b.causelaborshortages,whichfurtherraisewagesaboveequilibrium.
c.affecthighly-educatedworkersmorethanhighschooldropouts.
d.Noneoftheaboveiscorrect.
4.Minimumwagescreateunemploymentinmarketswheretheycreatea
a.shortageoflabor.Unemploymentofthistypeiscalledfrictional.
b.shortageoflabor.Unemploymentofthistypeiscalledstructural.
c.surplusoflabor.Unemploymentofthistypeiscalledfrictional.
d.surplusoflabor.Unemploymentofthistypeiscalledstructural.
5.Minimumwagescreateunemploymentinmarketswheretheycreatea
a.shortageoflabor.MinimumwagelawsarenotthepredominantreasonforunemploymentintheU.S.
b.shortageoflabor.MinimumwagelawsarethepredominantreasonforunemploymentintheU.S.
c.surplusoflabor.MinimumwagelawsarenotthepredominantreasonforunemploymentintheU.S.
d.surplusoflabor.MinimumwagelawsarethepredominantreasonforunemploymentintheU.S.
6.Whenaminimum-wagelawforcesthewagetoremainabovetheequilibriumlevel,it
a.raisesboththequantityoflaborsuppliedandthequantityoflabordemandedcomparedtotheequilibriumlevel.
b.raisesthequantityoflaborsuppliedandreducesthequantityoflabordemandedcomparedtotheequilibriumlevel.
c.reducesthequantityoflaborsuppliedandraisesthequantityoflabordemandedcomparedtotheequilibriumlevel.
d.reducesboththequantityoflaborsuppliedandthequantityoflabordemandedcomparedtotheequilibriumlevel.
7.Whenaminimum-wagelawforcesthewagetoremainabovetheequilibriumlevel,theresultis
a.bothashortageoflaborandashortageofjobs.
b.ashortageoflaborandasurplusofjobs.
c.asurplusoflaborandashortageofjobs.
d.bothsurplusoflaborandasurplusofjobs.
8.Minimum-wagelawscankeepwages
a.aboveequilibriumandcauseasurplusoflabor.
b.aboveequilibriumandcauseashortageoflabor.
c.belowequilibriumandcauseasurplusoflabor.
d.belowequilibriumandcauseashortageoflabor.
9.Anincreaseintheminimumwage
a.increasesboththequantitydemandedandthequantitysuppliedoflabor.
b.decreasesboththequantitydemandedandthequantitysuppliedoflabor.
c.increasesthequantityoflabordemandedbutdecreasesthequantityoflaborsupplied.
d.decreasesthequantityoflabordemandedbutincreasesthequantityoflaborsupplied.
10.Anincreaseintheminimumwage
a.reducesstructuralunemployment.
b.reducesfrictionalunemployment,
c.increasesstructuralunemployment.
d.increasesfrictionalunemployment.
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