A. unskilled workers if the demand for labour is relatively inelastic
B. unskilled workers if the demand for labour is relatively elastic
C. skilled workers if the demand for labour is relatively elastic
D. skilled workers if the demand for labour is relatively inelastic
Related Mcqs:
- The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?
A. industry equilibrium analysis
B. specific equilibrium analysis
C. partial equilibrium analysis
D. general equilibrium analysis - Unemployment benefits may increase the unemployment rate because unemployment benefits ?
A. encourage people to quit their jobs
B. reduce the cost of job search
C. enable people to quit searching for work
D. reduce the benefits of additional job searching - Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?
A. None of these answers
B. Disagree because they have different scientific judgments
C. really don’t disagree at all. It just appears that they disagree
D. disagree because they have different values - Which one of the following types of Unemployment results from the wage being held above the competitive equilibrium wage ?
A. Structural unemployment
B. Cyclical Unemployment
C. Frictional Unemployment
D. None of these answers
E. Sectoral Unemployment - If the minimum wage is set above the equilibrium wage rate, then another thing unchanged ?
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 - Engineers for the All-Terrain Bike Company have determined that a 15% increase in all inputs will cause a 15% increase in output Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases?
A. average costs to remain constant
B. average costs to decrease
C. average costs to increase
D. marginal costs to increase - If a firm wage costs increase this will cause __________ and __________?
A. marginal cost to increase, output to fall
B. marginal revenue to increase output to fall
C. opportunity cost to increase the firm will close
D. average cost will rise output will increase ____ output and an upward shift in marginal revenue ____ output - The term ‘real wage’ means the money wage” ?
A. after tax
B. allowing for change in prices.
C. Plus, benefits in kind
D. plus, overtime payments. - Suppose the price level falls but because of fixed nominal wage contracts the real wage rises and firms cut back on production This is a demonstration of the ?
A. sticky-wage theory of the short-run aggregate supply curve
B. classical dichotomy theory of the short-run aggregate supply curve
C. misperceptions theory of the short-run aggregate supply curve
D. sticky-price theory of the short run aggregate supply curve - _______ states that as real GNP per capita rises, people demand relatively more social goods and relatively fewer private goods?
A. incomes policy
B. Moral hazard
C. Wagner’s law
D. Fiscal policy
