Category: Labour Market

A. There will be equilibrium in the labour market
B. There will excess demand in the labour market
C. There will be excess supply in the labour market
D. More people will be employed

A. A lower equilibrium wage and lower quantity of labour
B. A lower equilibrium wage and higher quantity of labour
C. A higher equilibrium wage and higher quantity of labour
D. A higher equilibrium wage and lower quantity of labour

A. Employed
B. Not in the labour force
C. A discouraged worker
D. Unemployed

A. Increase interest rates
B. Encourage savings
C. Cut taxes
D. Reduce government spending

A. Help all teenagers because they receive a higher wage than they would otherwise
B. have no impact on unemployment as long as it is set above the competitive equilibrium wage
C. Create more Unemployment is high-skill job markets than in low-skill job markets
D. Create more unemployment in low-skill job markets than in high-skill job markets

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 they fall asleep at work due to a lack of energy
E. All of these answers

A. Upward sloping due to the law of demand
B. Upward sloping due to the law of marginal utility
C. Downward sloping due to the law of diminishing returns
D. Downward sloping due to the law of supply

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

A. 134.0 million
B. None of theses answers
C. 92.3 million
D. 98.0 million

A. The average cost of labour
B. The marginal product
C. The marginal revenue
D. The total cost of labour