Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 24, Problem 4MCQ
To determine
To identify:
The option that correctly states the factor by which the households labor supply decisions are influenced.
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An increase in the supply of labor will ________ wages and ________ employment.A.decrease; decreaseB.increase; increaseC.increase; decreaseD.decrease; increase
9. Structural unemployment occurs becauseA. it takes time for workers to search for the jobs that best suit their tastes and skills.B. minimum wage laws force the wages to remain above their equilibrium levels.C. some people are economically inactive.D. the number of jobs available in some labour markets is insufficient to provide a job for everyone who wants one.
PROVIDE A BRIEF WRITTEN EXPLANATION JUSTIFYING YOUR CHOICE.
QUESTION 7
An increase in the wage will cause workers to
a. work less
b. buy their boss a gift
c. work more
d. spend more money on consumption goods
Chapter 24 Solutions
Foundations of Economics (8th Edition)
Ch. 24 - Prob. 1SPPACh. 24 - Prob. 2SPPACh. 24 - Prob. 3SPPACh. 24 - Prob. 4SPPACh. 24 - Prob. 5SPPACh. 24 - Prob. 6SPPACh. 24 - Prob. 7SPPACh. 24 - Prob. 8SPPACh. 24 - Prob. 9SPPACh. 24 - Prob. 10SPPA
Ch. 24 - Prob. 11SPPACh. 24 - Prob. 1IAPACh. 24 - Prob. 2IAPACh. 24 - Prob. 3IAPACh. 24 - Prob. 4IAPACh. 24 - Prob. 5IAPACh. 24 - Prob. 6IAPACh. 24 - Prob. 7IAPACh. 24 - Prob. 8IAPACh. 24 - Prob. 9IAPACh. 24 - Prob. 1MCQCh. 24 - Prob. 2MCQCh. 24 - Prob. 3MCQCh. 24 - Prob. 4MCQCh. 24 - Prob. 5MCQCh. 24 - Prob. 6MCQCh. 24 - Prob. 7MCQCh. 24 - Prob. 8MCQ
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- Are these micro or macro questions ? v) How large is KFC’s share of the fast food industry? (vi) How will implementation of a minimum wage rate affect your 17 year old brother’s budget?arrow_forward18. Why does Employment Insurance cause unemployment? (A) It increases the price of labour by mandating a minimum. (B) It incentivizes the unemployed to remain so. (C) It reduces the demand for labour. (D) It releases currency into the economy.arrow_forwardA 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.arrow_forward
- QUESTION 1 All of the following are reasons why prime age men are not working EXCEPT a rise in the number who are receiving disability benefits a mismatch between the skills that workers have and the skills required for current job openings having a criminal record makes it more difficult to find an employer who is willing to hire a falling number of job openings makes it harder to find a jobarrow_forwardQUESTION 12 Assume that there is an increase in the value of the marginal product of land. What can we expect to happen? a. The price of land will decrease b. Land manufacturing facilities will reopen c. Unemployment. Lots and lots of unemployment d. The price of land will increasearrow_forwardIn the market for labor, a wage ceiling is established above the equilibrium wage rate. Unemployment will __________ and employment will ___________. A. increase; increase B. increase; not be affected C. decrease; not be affected D. not be affected; not be affected A production possibility frontier will shift in (left) if A. the interest rate decreases. B. the unemployment rate rises. C. workers become less healthy. D. the labor force increases.arrow_forward
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