What is the impact on the labour market due to a reduction the productivity of workers? Select one: O a. labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour demand shifts to the left; wage rate decreases and level of employment decreases O d. labour supply shifts to the left; wage rate increases and level of employment is lower

What is the impact on the labour market due to a reduction the productivity of workers? Select one: O a. labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour demand shifts to the left; wage rate decreases and level of employment decreases O d. labour supply shifts to the left; wage rate increases and level of employment is lower

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter14: Labor Markets And Income

Section: Chapter Questions

Problem 1SCQ: Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and...

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Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and the price at which the film can sell output in the perfectly competitive market where it operates. What is the value of the marginal product at each level of labor? If the firm operates in a perfectly competitive labor market where the going market wage is 12, what is the films profit maximizing level of employment?
What is the impact on the labour market due to improvements in education and training? Select one: O a. labour demand shifts to the left; wage rate decreases and level of employment decreases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour supply shifts to the left; wage rate increases and level of employment is lower O d. labour demand shifts to the right; wage rate increases and level of employment increases
What is the impact on the labour market due to a reduction in income tax rate? Select one: O a. labour demand shifts to the right; wage rate increases and level of employment increases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O c. labour supply shifts to the left; wage rate increases and level of employment is lower O d. labour demand shifts to the left; wage rate decreases and level of employment decreases
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QUESTION 13 If a country's working-age population rises and its wealth declines, then the labor supply curve OA shifts to the left if the effect of the change in wealth is bigger than the effect of the change in the working-age population. O B. shifts to the right if the effect of the change in wealth is bigger than the effect of the change in the working-age population. OC. shifts to the left O D. shifts to the right. QUESTION 14 If a country's working-age population increases and its wealth increases, then the labor supply curve A shifts to the left if the effect of the change in wealth is bigger than the effect of the change in the working-age population. B. shifts to the right if the effect of the change in wealth is bigger than the effect of the change in the working-age population. C. shifts to the left. D. shifts to the right.
Use the table below to answer the following questions. O a. $6.25. O b. $5. $4.25. Table 10.3.1 Labour TFC TVC TC Output (workers per (teapots per (dollars per (dollars per (dollars per day) 0 day) day) day) 0 Oc с. O d. $25. Oe. $4. 1234 141569 0 5 13 18 day) 20 20 20 20 20 20 - E 100 125 型 20 5 270 5 - 145 Refer to Table 10.3.1, which gives Tania's Teapots' total cost schedule. When output increases from 4 to 9 teapots, the marginal cost of one of the 5 teapots is 45 95
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WAGE W₂ W₂ Figure 18-5 Refer to Figure 18-5. Which of the following would shift the labor supply curve from S₁ to S₂? O a. a decrease in the price of the firm's output O b. technological progress O c. a change in workers' attitudes toward the work-leisure tradeoff in favor of work O d. an increase in the price of the firm's output LABOR S₁ S₂ Demand
The news article states that "Canadian youth and students are getting hit hard by this pandemic." In May 2020 the number of unemployed 15-24 year-olds was 1,710,900 and the 15-24 year-old labour force was 2,420,800. What was the unemploy te of youth? ne employment rate was D A. 41.6 percent O B. 13.7 percent OC. 29.4 percent O D. 24.1 percent
Use the figure below to answer the following questions. Real wage rate (2002 dollars per hour) O 25 ·IS 15 X 20 5 0 50 100 150 200 250 300 Labour (billions of hours per year) Refer to Figure 22.3.2. If the real wage is $20 an hour, a labour Figure 22.3.2 Select one: O A. shortage will occur and the real wage will fall. O B. shortage will occur and the real wage will rise. O C. surplus will occur and the real wage will rise. O D. surplus will occur and the real wage will fall. O E. surplus will occur and the demand for labour will increase.