Question : 11) The figure above shows the market supply of labor : 1226302

11) The figure above shows the market supply of labor curve. Which of the following might be the reason the labor supply curve shifted from S0 to S1?

A) an increase in technology

B) a decrease in technology

C) an increase in the number of women in the work force

D) a decrease in the adult population

E) an increase in the wage rate

12) The figure above shows the market supply of labor curve. Which of the following might be the reason the labor supply curve shifted from S0 to S1?

A) an increase in technology

B) a decrease in technology

C) a decrease in the number of women in the work force

D) an increase in the adult population

E) an increase in the wage rate

13) Suppose in Chicago, at the going wage rate of $16.00 an hour, the quantity of lifeguards demanded exceeds the quantity supplied by 13,000 lifeguards. As a result,

A) there is a surplus of lifeguards in Chicago.

B) there is a shortage of lifeguards in Chicago.

C) the lifeguard labor market is in equilibrium in Chicago.

D) wage rates will probably fall in this market.

E) the demand for labor of lifeguards in Chicago will decrease.

14) A surplus of workers occurs

A) when the wage rate exceeds the equilibrium wage rate.

B) when the wage rate is less than the equilibrium wage rate.

C) at the equilibrium wage rate.

D) whenever there is a shortage of goods.

E) whenever there is a surplus of goods.

15) Suppose in Philadelphia the quantity of economists demanded is less than the quantity supplied by 2,000 economists. As a result,

A) there is a shortage of economists in Philadelphia.

B) salaries for economists fall.

C) there is equilibrium in this market.

D) the labor supply curve for economists in Philadelphia is vertical.

E) the labor demand curve for economists in Philadelphia shifts rightward.

16) If the supply of labor increases, then the equilibrium wage rate ________ and the equilibrium quantity of labor ________.

A) rises; increases

B) might rise, fall, or not change; increases

C) rises; might increase, decrease, or not change

D) falls; increases

E) falls; does not change

17) If the demand for labor decreases, then the equilibrium wage rate ________ and the equilibrium quantity of labor ________.

A) falls; increases

B) might rise, fall, or not change; increases

C) rises; might increase, decrease, or not change

D) falls; decreases

E) falls; does not change

18) If both the demand for labor and the supply of labor increase, then the equilibrium wage rate ________ and the equilibrium quantity of labor ________.

A) rises; increases

B) might rise, fall, or not change; increases

C) rises; might increase, decrease, or not change

D) falls; increases

E) falls; decreases

19) If a union is able to organize workers in a competitive labor market but the union cannot affect the demand for its members’ labor, then the wage rate ________ and the quantity of labor hired ________.

A) rises; increases

B) rises; decreases

C) rises; does not change

D) does not change; increases

E) falls; decreases

20) If a union restricts the supply of labor, it ________ the wage rate and ________ the level of employment.

A) raises; decreases

B) raises; increases

C) raises; does not change

D) lowers; decreases

E) lowers; increases