Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 11, Problem 18SQ
To determine
The impact of technical advancement on wages and quantity of labor.
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A technological advance that increases laborproductivity willa. lower wages.b. decrease the demand for labor as fewer workers are needed. c. decrease the supply of labor as fewer workers are needed.d. increase the demand for labor as MP rises.e. decrease the demand for labor as MP falls.
Which of the is NOT likely to increase the supply of labor? A. A big increase in the school leaving age B. An exponential increase in retirement age C. An increase in the number of migration D. None of the above
In the model of a competitive labor market, an increase in the wage, ceteris paribus, causes A. an increase in the quantity demanded of labor B. the MRP curve to shift to the left c. a decrease in the quantity demanded of labor D. the MRP curve shifts to the right
Chapter 11 Solutions
Micro Economics For Today
Ch. 11.3 - Prob. 1YTECh. 11 - Prob. 1SQPCh. 11 - Prob. 2SQPCh. 11 - Prob. 3SQPCh. 11 - Prob. 4SQPCh. 11 - Prob. 5SQPCh. 11 - Prob. 6SQPCh. 11 - Prob. 7SQPCh. 11 - Prob. 8SQPCh. 11 - Prob. 9SQP
Ch. 11 - Prob. 10SQPCh. 11 - Prob. 11SQPCh. 11 - Prob. 1SQCh. 11 - Prob. 2SQCh. 11 - Prob. 3SQCh. 11 - Prob. 4SQCh. 11 - Prob. 5SQCh. 11 - Prob. 6SQCh. 11 - Prob. 7SQCh. 11 - Prob. 8SQCh. 11 - Prob. 9SQCh. 11 - Prob. 10SQCh. 11 - Prob. 11SQCh. 11 - Prob. 12SQCh. 11 - Prob. 13SQCh. 11 - Prob. 14SQCh. 11 - Prob. 15SQCh. 11 - Prob. 16SQCh. 11 - Prob. 17SQCh. 11 - Prob. 18SQCh. 11 - Prob. 19SQCh. 11 - Prob. 20SQ
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- When is an employer forced to keep the labor cost low? A. When the product demand is inelastic. B. When the employer is in a competitive product market. C. When the rate of unemployment is low. D. When certain skills are essential for production.arrow_forwardIt Is profitable to hlre labor so long as the: a. MP is greater than wage b. MP is less than wage C. VMP is less than wage d. VMP is greater than wage.arrow_forwardWhat are the three most important variables that cause the market supply curve for labour to shift? The supply curve for labour shifts with changes in A. the population, the wage rate and opportunities in other labour markets. B. the price of the product, demographics and opportunities in other labour markets. C. the population, demographics and opportunities in other labour markets. D. the population, the quantity of other inputs and opportunities in other labour markets E. immigration, minimum wage legislation and the wage rate.arrow_forward
- As the baby boomers retire what happens in the labor market? Multiple Choice. O O Labor supply decreases. Labor supply increases. Labor demand increases. Labor demand decreases.arrow_forwardA.The market demand for labour is the sum of all the individual firms’ demand curves.Identify four factors that can cause the market demand curve to shift.B.Why are labour markets imperfect? Give five reasons.arrow_forwardEconomics Q)how changes in productivity influence the demand for labor. please explain correctltarrow_forward
- How do wages affect labor supply?arrow_forwardTo say that a firm is competitive in the labor market is to say that the firm a. has little or no control over the number of workers it hires. b. has little or no control over the wage it pays its workers. c. is aggressive in pursuing the most skilled workers in the labor market. d. is aggressive in trying to keep its workers' wages low.arrow_forwardPlease help.How will each of the following scenarios impact the market for labour?The income tax rate is increased.1. Impact on demand for labour2. Impact on supply of labour3. Impact on wage rate4. Impact on Employment Levelarrow_forward
- how does the demand and supply for labour affect the wage rate of workers?arrow_forwardIf labor supply is inelastic a. immigration will raise the wages of inexperienced natives and lower the wages of experienced natives within each education group b. immigration will lower the wage of both inexperienced and experienced natives within each education group c. Immigration will raise the wage of both inexperienced and experienced natives within each education group d. immigration will lower wages of inexperienced natives and raise wages of experienced natives within each education group.arrow_forwardGive three reasons a worker’s wage might be above the level that balances supply and demand.arrow_forward
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