Question 28 Which of the following individuals would NOT be considered part of the labor force? Oa) Kimberly, who has retired from the military and now works at the post office O b) Aileen, who is a full-time student working part-time Oc) Kostas, who is working part-time but wants to be working full-time d) Justine, who is a full-time homemaker but recently started her own business online e) Thomas, who is not working but has given up searching for a job because he believes there are no jobs available for him

Question 28 Which of the following individuals would NOT be considered part of the labor force? Oa) Kimberly, who has retired from the military and now works at the post office O b) Aileen, who is a full-time student working part-time Oc) Kostas, who is working part-time but wants to be working full-time d) Justine, who is a full-time homemaker but recently started her own business online e) Thomas, who is not working but has given up searching for a job because he believes there are no jobs available for him

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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QUESTION 4 Which of the following would we expect to cause a change in the demand for labor? a. People decide that having two jobs is better than one b. People decide that not having a job is better than having one c. Change in the technology used to produce goods and services d. Change from the imperial system to the metric system
QUESTION 8 Suppose that in a particular labor market the supply curve increases (shifts right). What will happen to the a. Increase b. Decrease c. Remain Constant d. Decrease, but only for the least skilled workers in the market age?
The labor-force participation rate is computed as O (Employed + Adult Population) x 100. O (Labor Force + Adult Population) ☐ 100. O (Adult Population + Labor Force) x 100. O (Employed + Labor Force) x 100.
Question 21 Use the following table to answer the following questions. Wage Rate Quantity of Labor Demanded Quantity of Labor Supplied $5.00 175,550,000 120,000,000 $5.50 162,000,000 136,485,000 $6.00 153,300,020 153,300,020 $6.50 148,600,579 155,250,000 $7.00 142,050,000 157,132,360 $7.50 139,630,000 159,800,000 $8.00 135,000,000 161,000,785 At what price level does the labor market experience its largest shortage? $7.50 $5.50 $8.00 $5.00 O $6.00
Jack has 16 hour available to work in the day, his wage rate is $25 per hour, and he has nonlabour income $100 per day. He commutes to office every work day by bus which cost $50 for the round trip and spends 2 hours on commuting the round trip. Part (a): Using a work-leisure diagram, depict the individual’s labour supply choice, including their reservation wage. Part (b): Analyze the impact of an increase in commuting costs from $50 to $70 per round trip on his participation and hours decision. What is commuting time increase from 2 hours to 4 hours keeping the commuting cost same as before.
Which one of these individuals is a part of the eligible population, but NOT part of the labor force? Select one: a. A 19 years old who is working part time in a beauty salon b. A 22 years old who is looking for a job after graduating from college but cannot find one c. A 33 years old who stays at home to take care of his kids d. A 42 years old who works in jail after committing grand larceny e. A 75 years who is still working full time as an attorney
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Suppose the money wage rate rises from $40.00 to $46.20 an hour and consumer prices rises by 10 percent. What would be the effect in the labor market? We would expect _______ people to try to find a job and employed people to want to work _______ hours. A. fewer; shorter B. more; longer C. the same number of; the same number of D. fewer; longer The _______ would _______. A. quantity of labor supplied; decrease B. supply of labor; decrease C. quantity of labor supplied; increase D. supply of labor;
If the hourly wage is $11, which of the below statements is true? Table 18.2 Workers Total Revenue per Hour 1 $30 $50 3 $65 4 $75 $80
Attached is the unfinshed labor market data for a firm that sells dog treats. Complete the table with the correct values.
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