Category: Labour Market

A. The quantity demanded of labour is higher than the quantity supplied
B. The quantity demanded of labour equals the quantity supplied
C. The quantity demanded of labour is lower than the quantity supplied
D. It will automatically adjust in the short run to bring equilibrium

A. Structural unemployment
B. Cyclical Unemployment
C. Frictional Unemployment
D. None of these answers
E. Sectoral Unemployment

A. Maximum wage the firm is willing to pay
B. tip necessary to get a waiter to reserve a table
C. minimum wage the worker is willing to accept
D. competitive equilibrium wage.

A. Will usually lead to more people employed
B. Will decrease total earning if the demand for labour is wage elastic
C. is illegal in a free market
D. will cause a shift in the demand for labour

A. Establishing worker training Programs
B. Establishing right-to-work laws
C. Reducing unemployment benefits
D. Establishing employment agencies
E. Raising the minimum 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 in the applicant pool will tend to fall

A. Frictional unemployment
B. Seasonal unemployment
C. Cyclical unemployment
D. Structural unemployment

A. Helps the economy move on the to Production Possibility Frontier
B. Helps shift the economy’s Production Possibility Frontier outwards
C. Helps the economy move along its Production Possibility Frontier
D. Helps the economy move inside the Production Possibility Frontier

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