A. wages in general would fall as employers tried to hold down costs
B. fewer young workers would be employed
C. the costs and prices of firms employing cheap labour would increase
D. there would be more unemployment
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 - 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 - Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?
A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
B. increase in the number of unskilled workers available due to immigration into the UK.
C. decrease in the demand for unskilled workers are more poorly educated
D. increase in the number of unskilled workers available because workers are more poorly educated - 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 - Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?
A. really don’t disagree at all It just appears that they disagree.
B. disagree because they have different values.
C. none of these answers.
D. disagree because they have different scientific judgments. - Which of the following workers would be most likely to find it more difficult to get a job after a rise in the minimum wage rate?
A. a teenage worker with few qualifications.
B. A manual worker with fifteen years of work experience
C. A professional worker with university degree.
D. All there are equally likely to find it difficult to get a job - A group of economists argue that the real problem with the economy is high rates of taxation and heavy regulation that reduce the incentives to work, save and invest. These economists are?
A. Supply-side economics
B. neo-Keynesian economists
C. rational-expectations economists.
D. new classical economists. - A group of economists argue that the real problem with the economy is high rates of taxation and heavy regulation that reduce the incentives to work save and invest these economists are ?
A. supply side economists
B. neo-Keynesian economists
C. rational -expectations economists
D. New classical economists - The economists who emphasised wage flexibility as a solution for unemployment were ?
A. new-Keynesian.
B. post-Keynesian.
C. classical economists.
D. Keynesian. - If, for any reason the wage is held above the competitive equilibrium 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
