Question 10The diagram depicts the long-run labour market equilibrium following technological progress.Real wageOutput per worker(new technology)Output per worker(old technology)Real wage (new)Real wage (old)Wage-setting curve (fair shares bargaining)Wage-setting curvek.f.Price-setting curve(new technology)Price-setting curve(old technology)Based on this information, which of the following statements is correct?Choose at least one correct answerTechnological progress always leads to a fall in the unemployment rate.Employment, N6% unemployment rate 4% unemployment rate(long-run unemployment rate)The wage curve shifts up if the government cuts the unemployment benefit as a result of the rise in the employment level.The wage curve shifts up when the trade union bargains for a fair share of the workers' output after thetechnological progress.All current employees benefit from the technological progress when the long-run equilibrium moves from A to C.If with new technology is associated lower firm competition, we expect to end up at a point at least as high as B.

In the given diagram we can see that the unemployment rate and the real wage is determined by the…

Question 10 The diagram depicts the long-run labour market equilibrium following technological progress. Real wage Output per worker (new technology) Output per worker (old technology) Real wage (new) Real wage (old) Wage-setting curve (fair shares bargaining) ول Wage-setting curve B Price-setting curve (new technology) Price-setting curve (old technology) Employment, N 6% unemployment rate 4% unemployment rate (long-run unemployment rate) Based on this information, which of the following statements is correct? Choose at least one correct answer Technological progress always leads to a fall in the unemployment rate. The wage curve shifts up if the government cuts the unemployment benefit as a result of the rise in the employment level. The wage curve shifts up when the trade union bargains for a fair share of the workers' output after the technological progress. All current employees benefit from the technological progress when the long-run equilibrium moves from A to C. if with new technology is associated lower firm competition, we expect to end up at a point at least as high as B.

Question 10 The diagram depicts the long-run labour market equilibrium following technological progress. Real wage Output per worker (new technology) Output per worker (old technology) Real wage (new) Real wage (old) Wage-setting curve (fair shares bargaining) ول Wage-setting curve B Price-setting curve (new technology) Price-setting curve (old technology) Employment, N 6% unemployment rate 4% unemployment rate (long-run unemployment rate) Based on this information, which of the following statements is correct? Choose at least one correct answer Technological progress always leads to a fall in the unemployment rate. The wage curve shifts up if the government cuts the unemployment benefit as a result of the rise in the employment level. The wage curve shifts up when the trade union bargains for a fair share of the workers' output after the technological progress. All current employees benefit from the technological progress when the long-run equilibrium moves from A to C. if with new technology is associated lower firm competition, we expect to end up at a point at least as high as B.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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