A. low wages, employment
B. high wages, labor supply
C. high wages, productivity
D. high wages, employment
Related Mcqs:
- Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?
XA. wages and rents should fall in Country A
B. wages and rents should rise in Country A
C. wages should rise and rents should fall in Country A
D. wages should fall and rents should raise in Country A - If the economy is in the expansionary phase of the business cycle, aggregate demand ____ unemployment ____ inflation ____ payments is likely to move towards ____?
A. falls; rise; falls; surplus
B. is static; low; rise; deficit;
C. falls; falls; falls; surplus
D. rise; falls; rises; deficit - Which of the following is an example of a reason why firms might pay efficiency wages ?
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 - 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 - Compared to what occurred under free trade, Mexico’s producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts ?
A. decreases, decreases
B. decreases, increases
C. increases, decreases
D. increases, increases - An optimal tariff is one which reduces imports to the level at which ____ equals ____?
A. imports, exports
B. the balance of trade, zero
C. The demand for currency the supply of currency
D. social marginal cost, social marginal benefit - If the economy is in the recessionary phase of the business cycle, aggregate demand ___ unemployment ____ inflation ___ and the current account of the balance of payments is likely to move towards ____?
A. falls; falls; falls; surplus
B. is static; low; rises; deficit
C. falls; rises; falls; surplus
D. rises; falls; rises; deficit - Automatic stabilisers act to ____ government expenditures and ____ government revenues during recessions ?
A. increase: increase
B. decrease; decrease
C. increase; decrease
D. decrease; increase - Antimonopoly legislation is undertaken to ____ competition and market regulation is undertaken to ____ competition ?
A. restrict; promote
B. restrict; restrict
C. promote; promote
D. promote; restrict - The long-run Phillips curve is ____ at the ____?
A. horizontal, natural rate of inflation
B. horizontal natural rate of unemployment
C. vertical natural rate of inflation
D. vertical equilibrium rate of unemployment
