In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals?

Related Mcqs:

Refer to Figure 1. The labour force participation rate is ?

A. 47.1 Percent B. 65.9 Percent C. 50.2 Percent D. 70.2 Percent...

A miner who has been unable to find work for so long that he has stopped looking for work is considered to be ?

A. Not in the labour force B. Not in the adult population C. Unemployed D. Employed...

If, for any reason the wage is held above the competitive equilibrium wage?

A. The quantity of labour supplied will exceed the quantity of labour demanded and there will be Unemployment B. Unions will likely Strike and the wage will fall to equilibrium C. The quantity of labour demanded will exceed the quantity of labour supplied and there will be a labour shortage D. The quality of workers … If, for any reason the wage is held above the competitive equilibrium wage?Read More...

Which of the following government policies would fail to lower the unemployment rate ?

A. Establishing worker training Programs B. Establishing right-to-work laws C. Reducing unemployment benefits D. Establishing employment agencies E. Raising the minimum wage...

Which of the following is an example of a reason why firms might pay efficiency wages ?

A. At equilibrium wages workers sleep when the boss is not looking because workers are not deeply concerned about being fired B. At equilibrium wages workers often quit to find better jobs. C. At equilibrium wages only minimally qualified workers apply for the job D. At equilibrium wages, workers cannot afford a healthy diet so … Which of the following is an example of a reason why firms might pay efficiency wages ?Read More...