Refer to Figure 1 The labour fouce is ?

Related Mcqs:

1. 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

2. In a competitive labour market firms will hire labour up to the point where the marginal revenue product of labour equals ?

   A. total labour cost
   B. the marginal product
   C. the price of the product
   D. the wage rate

3. Refer to Figure 1. The unemployment rate is ?

   A. 3.2 Percent
   B. 5.7 Percent
   C. 5.8 Percent
   D. Not Enough

4. With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?

   A. 20 calculators increase
   B. 25 calculators decrease
   C. 25 calculators increase
   D. 30 calculators increase

5. Refer to Figure 24-1 What is the value of the basket in the base year ?

   A. Rs459.25
   B. Rs418.75
   C. Rs300
   D. None of these

6. Refer to Figure 1 What percent of the population vote for A when the choice is between A and B ?

   A. 75 percent
   B. 35 percent
   C. 60 percent
   D. 40 percent
   E. 25 percent

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

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

8. The formula for the marginal revenue product of labour (L is for labour, X is the product) is ?

   A. MPL + PX
   B. (MPL) (PX)
   C. PX/MPL
   D. MPL/PX

9. The substitution effect of a rise in the price of labour will ____ the quantity of labour and the output, effect will ____ it

   A. increase; increase
   B. increase; reduce
   C. reduce; reduce
   D. reduce; increase

10. If the real wage is too high in the 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