LECTURE 5 - UNEMPLOYMENT QUIZ

What is the main concept behind the theory of efficiency wages?

• Firms pay wages that are below equilibrium to cut costs.

• Firms voluntarily pay above-equilibrium wages to boost worker productivity.

• Firms pay wages at equilibrium to maintain a balanced workforce.

• 1.  Firms randomly decide on wage levels without considering productivity.

Which of the following is NOT one of the reasons firms might pay efficiency wages?

• 1.  Worker health

• 1. Worker turnover

• 1.  Worker bonus

• 1. Worker effort

Which of the following best summarises the relationship between efficiency wages and worker turnover?

• 1. Paying higher wages leads to lower worker turnover.

• 1. Paying higher wages leads to higher worker turnover.

• 1. Paying efficiency wages has no impact on worker turnover.

• 1. Worker turnover decreases when efficiency wages are coupled with additional benefits.

Which agency calculates the unemployment rate in the United States?

• 1. Bureau of Labor Statistics

• 1. Department of Labor

• 1. Census Bureau

• 1. Office of Management and Budget

The labor force participation rate identifies:

• 1. The number of unemployed

• 1. The number of employed

• 1. The percentage of the adult population in the labor force

• 1. The number of retired

 Which of the following is the another name for Frictional Employment?

• 1. Natural Unemployment

• 1. Structural Unemployment

• 1. Positive Unemployment

• 1. Frequency Unemployment

Which of the following is not the way an economy can prioritise overcoming structural unemployment?

• 1. Continually develop professional skills.

• 1. Research market trends

• 1. Build professional network

• 1. Seeking training and education

Which is NOT an emerging trend in Vietnamese future employment?

• 1. Increase in the number of workers on technology platforms

• 1. Career transitions are associated with soft skills 

• 1. Simple labour will become valuable

• 1. Increase "start-up, self-employment"

The unemployment rate among the working-age population in Vietnamese urban areas remains ____

• 1. Equal 2%

• 1. Below 2%

• 1. Equal 3%

• 1. Below 3%

"Overstating and understating" are terms commonly used in assessing what?

• GDP growth

• Unemployment rate

• Inflation

• Production output