We would normally expect the size of the labor force to be _____ than the number or workers willing to accepts job offers at any real wage rate ?

Related Mcqs:

1. Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?

   A. Three vases will be sold, and consumer surplus is Rs80
   B. One vase will be sold, and consumer surplus is Rs5.
   C. One vase will be sold, and consumer surplus is Rs30.
   D. Three vases will be sold, and consumer surplus is Rs0.
   E. Two vases will be sold, and consumer surplus is Rs5.

2. If workers get a real wage increase this will likely ____ and _____?

   A. encourage the use of more capital in the long run, reduce demand for all inputs
   B. encourage the use of more capital increase demand for all inputs
   C. encourage the use of less capital reduce demand for all inputs
   D. encourage the use of less capital, reduce demand for all inputs

3. 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

4. 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.

5. 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

6. one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?

   A. quickly
   B. slowly
   C. very infrequently
   D. instantly

7. When real income increases other things equal we can expect the demand for real money holdings to ?

   A. fall
   B. not change
   C. increase
   D. None of these

8. 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

9. If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ?

   A. 3.1 percent
   B. 3.0 percent
   C. 18.6 percent
   D. 18.0 percent

10. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero-marginal cost of study production. If ABC publishing charges separate price for both products its best strategy is to charge price that when combined, total ?

    A. Rs 85
    B. Rs 75
    C. Rs 80
    D. Rs 60