Question :
21) Suppose we know the following information about the labour : 1384491
21) Suppose we know the following information about the labour market. Over a one-month period:
A) 150 000; zero
B) 150 000; 150 000
C) zero; 150 000
D) zero; zero
E) 300 000; 150 000
22) Suppose we know the following information about the labour market. Over a one-month period:
A) the population increased during that month.
B) the population decreased during that month.
C) a certain number of people entered the labour force during that month.
D) the gross flow and the net flow into unemployment are equal.
E) a certain number of people left the labour force during that month.
23) Refer to Table 31-1. What is the unemployment rate on February 1?
A) 4.17%
B) 6.0%
C) 7.54%
D) 8.15%
E) 9.32%
24) Refer to Table 31-1. What is the unemployment rate on March 1?
A) 6.0%
B) 7.11%
C) 10.07%
D) 7.65%
E) 4.17%
25) Refer to Table 31-1. Between February 1 and March 1 the stock of unemployment remained stable at 750, and the unemployment rate ________ because ________.
A) decreased; the labour force grew by 600
B) decreased; the labour force shrank by 600
C) remained stable; the stock of unemployment did not change
D) increased; the labour force grew by 600
E) increased; the labour force shrank by 600
26) Market-clearing theories of the labour market assume that labour markets
A) always clear.
B) are inefficient.
C) have asymmetrically rigid wages.
D) should be regulated to produce an efficient wage rate.
E) will always provide a subsistence wage.
27) If labour markets had perfectly flexible wages, as the market-clearing theories suggest, involuntary unemployment would
A) not exist.
B) rise when the labour demand curve shifts to the left.
C) rise when the labour demand curve shifts to the right.
D) rise when the labour supply curve shifts to the left.
E) rise when the labour supply curve shifts to the right.
28) What economists sometimes call “voluntary 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 worker enters the job market for the first time.
E) a worker is not willing to accept an available job at the going wage rate.
29) If, as the market-clearing theories suggest, all labour markets had perfectly flexible wages, real wages would rise when labour demand
A) rises and fall when labour supply rises.
B) rises and fall when labour supply falls.
C) falls and rise when labour supply falls.
D) rises and rise when labour supply rises.
E) falls and falls when labour supply rises.
30) Market-clearing theories suggest that fluctuations in employment and wages can be caused by the supply side of the labour market through changes in the
A) price level.
B) level of net exports in the economy.
C) marginal efficiency of investment.
D) willingness of firms to hire workers.
E) willingness of workers to supply their labour.
