MCQs of Economics – Labour Market

An increase in the wage rate:

The Marginal Revenue Product is likely to be wage inelastic if:

A fall in demand for labour is likely to lead to:

A decrease in the supply of labour is likely to lead to:

The Marginal Revenue Product is:

Demand for labour is more likely to be wage inelastic if:

A profit maximising firm will employ labour up to the point where:

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals

If employees cannot accept a job because of the costs of moving this is known as:

If the minimum wage is set above the equilibrium wage rate, then other thing unchanged:

If people are made unemployed because of a fall in aggregate demand this is known as:

Supply side policies are most appropriate to cure:

The natural rate of unemployment is likely to fall if:

If the real wage is too high in the labour market:

If there is cyclical unemployment in the economy the government might:

Occupational immobility of labour occurs if:

Which of the following is not a supply side measure?

Reducing involuntary unemployment:

Less demand in the economy may increase unemployment; this may lead to less spending which may reduce demand further. This is called:

TO reduce cyclical unemployment the government might:

The amount of unemployment that the economy normally experiences is known as:

According to the Office of National Statistics UK, a husband who chooses to stay home and take care of household is:

Refer to Figure 1 The labour fouce is:

Refer to Figure 1. The unemployment rate is:

Refer to Figure 1. The labour force participation rate is:

A miner who has been unable to find work for so long that he has stopped looking for work is considered to be

A minimum wage law tends to:

Which one of the following types of Unemployment results from the wage being held above the competitive equilibrium wage?

If, for any reason the wage is held above the competitive equilibrium wage,

A reservation wage is the:

Which of the following government policies would fail to lower the unemployment rate?

Sector shifts tend to raise which type of unemployment?

Which of the following is an example of a reason why firms might pay efficiency wages?

Some frictional Unemployment is inevitable because

Union might increase efficiency in the case Where they:

Which of the following statements about efficiency wage theory is true?

Unions tend to increase the disparity in pay between insiders and outsiders by

Which of the following types of unemployment will exist even if the wage is at the competitive equilibrium?

IF Unemployment insurance were so generous that it paid laid off workers 95 percent of their regular salary