Question : 41) What economists call “involuntary unemployment” occurs when A) a job : 1384493

 

41) What economists call “involuntary unemployment” occurs when

A) a job is available but the worker has not yet found it.

B) the level of real GDP is at or above the economy’s potential output.

C) a person is willing to accept a job at the going wage rate but cannot find one.

D) a person enters the job market for the first time.

E) a person is not willing to accept an available job at the going wage rate.

42) In non-market-clearing theories of the labour market an important explanation for the existence of involuntary unemployment is that labour markets exhibit

A) an elastic labour demand curve.

B) perfectly flexible wages.

C) rigid or sticky wages.

D) unshifting labour demand.

E) unshifting labour supply.

43) Involuntary unemployment in a labour market is said to exist when the wage is ________ the market-clearing wage, this creating an excess ________ labour.

A) greater than; demand for

B) greater than; supply of

C) equal to; employment of

D) less than; supply of

E) less than; demand for

44) Non-market-clearing theories of the labour market feature ________ wages, and thus involuntary unemployment ________.

A) perfectly flexible; cannot exist

B) perfectly flexible; can exist

C) sticky; cannot exist

D) sticky; can exist

E) efficiency wages; cannot exist

45) Retaining a core group of experienced employees that feels entitled to some degree of job security requires that in a recession firms hold wages ________ the market-clearing level, thus ________ involuntary unemployment.

A) above; avoiding

B) above; creating

C) equal to; avoiding

D) below; avoiding

E) below; creating

46) Long-term labour contracts are an important feature of ________ theories of the labour market. In contrast to a world with continuous bargaining of wages and employment, the existence of such contracts leads to a labour market in which involuntary unemployment is ________.

A) non-market-clearing; possible

B) non-market-clearing; impossible

C) market-clearing; possible

D) market-clearing; impossible

E) market-clearing; always present

47) Wage contracts are often set for periods of up to three years. As a result, fluctuations in aggregate demand and aggregate supply tend to

A) cause changes in the amount of involuntary unemployment.

B) cause greater inflexibility of wages.

C) have no effect in labour markets until wages are renegotiated.

D) clear the labour market.

E) either increase or decrease the NAIRU.

48) The main difference between market-clearing and non-market-clearing models of the economy is

A) the long-run path of wages.

B) the long-run path of employment.

C) the degree of wage and price flexibility in the short run.

D) the long-run path of output.

E) the tendency for output to return to potential in the long run.

49) The market-clearing and non-market-clearing theories of unemployment both agree that

A) actual unemployment rates will equal the NAIRU in the long run.

B) wages and prices are perfectly flexible.

C) unemployment is always voluntary.

D) actual output adjusts only gradually to potential output.

E) wages are rigid and adjust only over the long run.

50) “Efficiency wages” are said to exist when wages are

A) such that cyclical unemployment is zero.

B) such that the NAIRU is zero.

C) high enough above market levels that workers increase their productivity.

D) equal to the market wage.

E) just high enough to induce a worker to take a job.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more