In a competitive labour market, a boom shifts Select one: O a. the demand for labour to the right, so employment and wages fall. O b. the demand for labour to the right, so employment and wages rise. O c. the supply of labour to the right, so employment rises and wages fall. O d. the supply of labour to the left, so employment and wages rise.

In a competitive labour market, a boom shifts Select one: O a. the demand for labour to the right, so employment and wages fall. O b. the demand for labour to the right, so employment and wages rise. O c. the supply of labour to the right, so employment rises and wages fall. O d. the supply of labour to the left, so employment and wages rise.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter26: Factor Markets: With Emphasis On The Labor Market

Section26.2: The Labor Market

Problem 3ST

See similar textbooks

Similar questions

What is the impact on the labour market due to a reduction in income tax rate? Select one: O a. labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour supply shifts to the left; wage rate increases and level of employment is lower O d. labour demand shifts to the left; wage rate decreases and level of employment decreases
What is the impact on the labour market due to improvements in education and training? Select one: O a. labour demand shifts to the left; wage rate decreases and level of employment decreases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour supply shifts to the left; wage rate increases and level of employment is lower O d. labour demand shifts to the right; wage rate increases and level of employment increases
The graph on the right shows a labor markel in equilibrium. The equilibrium wage is $10 per hour. At this wage, there are people who are not working, which is represented by the segment of the labor supply curve above the equilibrium wage Why are these people not working in this market? Labor supply curve O A. These people have decided not to work right now, regardless of the wage. O B. These people applied for employment at $10 per hour but were not hired by the firm. OC. These people are only willing to work for wages above the markel-clearing wage 10 O D. This represents those who are not yet 16 years of age and therefore not eligible to work Labor demand curve Quantity of labor
A certain amount of unemployment may be socially desirable because... O a. A pool of unemployed workers provides an incentive to those employed to remain productive. O b. A pool of unemployed workers drives down the average wage in the economy and keeps workers from becoming greedy. O c. Unemployed workers are able to benefit from employment insurance. O d. When some workers become unemployed, it provides a chance for others in the labour force to become employed. O e. The time the worker spends unemployed is valuable for finding the most appropriate match with firms.
QUESTION 13 If a country's working-age population rises and its wealth declines, then the labor supply curve OA shifts to the left if the effect of the change in wealth is bigger than the effect of the change in the working-age population. O B. shifts to the right if the effect of the change in wealth is bigger than the effect of the change in the working-age population. OC. shifts to the left O D. shifts to the right. QUESTION 14 If a country's working-age population increases and its wealth increases, then the labor supply curve A shifts to the left if the effect of the change in wealth is bigger than the effect of the change in the working-age population. B. shifts to the right if the effect of the change in wealth is bigger than the effect of the change in the working-age population. C. shifts to the left. D. shifts to the right.
What is the impact on the labour market due to a reduction the productivity of workers? Select one: O a. labour supply shifts to the left; wage rate increases and level of employment is lower O b. labour demand shifts to the left; wage rate decreases and level of employment decreases O c. labour demand shifts to the right; wage rate increases and level of employment increases O d. labour supply shifts to the right; wage rate decreases and level of employment is higher Next page age search [田
Which of the following is not an explanation for the wage gap between workers with college education and workers without college education? O a. Workers with higher education have more human capital. O b. Unproductive workers are more likely to get a college degree. O. Workers use education as a signal. O d. Employers use education as a screening mechanism. In the short-run, the supply of high-skill workers is inelastic because O a. it takes time to develop human capital. education is costly. Oc. the wage premium is too low. Od. in the long-run, all workers can obtain the necessary skills.
What is the impact on the labour market due to a reduction the productivity of workers? Select one: O a. labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour demand shifts to the left; wage rate decreases and level of employment decreases O d. labour supply shifts to the left; wage rate increases and level of employment is lower
The table to the right gives the employment share of four industries within the three regions of a country. Which, if any, of these industries would you classify as tradable? OA. Industry B. OB. Industries A and B. OC. Industries C and D. O D. Industry C. O E. Industry D. East Central West A 7% 8% 7% B 23% 22% 24% Industry C 1% 17% 2% D 4% 5% 21%
An increase in the average wage also causes the labor demand curve to shift to the O A. left because the use of machines decreases, causing the average wage to increase. B. right because the use of machines increases, causing labor to become more productive. C. left because the use of machines decreases, causing the marginal cost of labor to increase. O D. left because the use of machines decreases, causing labor to become less productive. O E. right because the use of machines decreases, causing the marginal product of labor to increase.
A certain amount of unemployment may be socially desirable because. O a Unemployed workers are able to benefit from employment insurance. Ob. A pool of unemployed workers drives down the average wage in the economy and keeps workers from becoming greedy Oc When some workers become unemployed, it provides a chance for others in the labour force to become employed Od. A pool of unemployed workers provides an incentive to those employed to remain productive. O e. The time the worker spends unemployed is valuable for finding the most appropriate match with firms
What would be the predicted impact on the labor market of a decrease in non-wage income, as well as an increase in the price of machines? a. An increase in equilibrium wage, and an indeterminate change in equilibrium quantity of labor. b. A decrease in equilibrium wage, and an indeterminate change in equilibrium quantity of labor. C. An indeterminate change in equilibrium wage, and an increase in equilibrium quantity of labor. O d. An indeterminate change in equilibrium wage, and a decrease in equilibrium quantity of labor.