Time left 0:5 What is the impact on the labour market due to a decrease in the demand for exports? Select one: O a. labour supply shifts to the left; wage rate increases and level of employment is lower O b. labour demand shifts to the left; wage rate decreases and level of employment decreases O c. labour supply shifts to the right; wage rate decreases and level of employment is higher O d. labour demand shifts to the right; wage rate increases and level of employment increases Next page

Time left 0:5 What is the impact on the labour market due to a decrease in the demand for exports? Select one: O a. labour supply shifts to the left; wage rate increases and level of employment is lower O b. labour demand shifts to the left; wage rate decreases and level of employment decreases O c. labour supply shifts to the right; wage rate decreases and level of employment is higher O d. labour demand shifts to the right; wage rate increases and level of employment increases Next page

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If workers and firms agree on an increase in wages based on their expectations of inflation and inflation turns out to be more than they expected, Select one: O a. the interest rate will fall O b. workers will gain at the expense of firms. O . neither workers nor firms will gain because the increase in wages is fixed in the labour agreement. O d. firms will gain at the expense of workers.
Refer to the table below to answer the following questions. O a. 2 teapots. Ob. 9 teapots. Oc 7 teapots. O d. 4 teapots. O e. 6 teapots. Table 10.2.1 Labour (workers per day) 1 2 3 Output (teapots per day) 0 3 12 19 23 25 Refer to Table 10.2.1 which gives Tania's Teapots' total product schedule. The marginal product when Tania's increases the number of workers from 3 to 4 per day is
1. Economics: Labor Economics Thank you for your help and support Academic Agent!
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Imagine the GDP per capita of a country doubles every one hundred years. What would the shape of a linear-scale graph and a ratio- scale graph be? Select one or more: O a. Linear scale: an upward-sloping Ratio scale: an upward-sloping curve with increasing slope (called straight line convex shape) O b. Ratio scale: a straight horizontal line Linear scale: an upward-sloping straight line Ratio scale: an upward-sloping curve with decreasing slope (called O C. Linear scale: an upward-sloping straight line concave shape) O d. Linear scale: an upward-sloping Ratio scale: an upward-sloping convex curve convex curve
People may choose to offer less work at higher wage rates because the utility of leisure increases because of the income generated by higher wages, leading workers to choose leisure over work. O True O False
Question 16 ) Listen Refer to the production possibilities curves. Curve (a) is the current curve for the economy. Focusing on curve (a), point N suggests that the economy currently produces: (a) (b) Capital Goods O a) A combination of output that is less than its potential O b) Less goods for the future than at point P O c) Less goods for the present than at point P O d) More goods for the future than at point P Question 17 ) Listen Consider an economy that is producing inside its production possibilities curve. This economy could move closer towards its production possibilities curve by: a) Distributing incomes more equally b) Acquiring additional resources c) Employing more of its available resources d) Increasing the levels of wages and prices Consumer Goods
10 units. OD. 18 units. One of the following factors shifts the labor demand curve upward (increase labor demand)? Select one: t of O A. Price of outputs good increases (labor is used to make this output). O B. Decrease in workers coming into Kuwait. O C. Increase in workers coming into Kuwait. O D. Price of output good decreases (labor is used to make this output). A shift in labor supply is caused by Select one:
A new highway linking two major towns is constructed. What would be the impact on the country's production function? Select one: a. remain unchanged O b. movement upwards along the same curve O c. shift outwards O d. movement downward along the same curve O e. shift inwards