Question : 14) Ceteris paribus, which of the following will shift the : 1381486

 

14) Ceteris paribus, which of the following will shift the labor demand curve to the right as a result of the demand for labor being a derived demand?

A) an increase in the value of output that firms produce

B) a decrease in the value of leisure

C) more people entering the labor force

D) an increase in the value of leisure

 

15) Ceteris paribus, which of the following will shift the labor supply curve to the left?

A) an increase in worker productivity

B) an increase in the value people place on their leisure time

C) an increase in the price of the output of the firm

D) all of the above

 

16) Ceteris paribus, which of the following will shift the labor supply curve to the right?

A) an increase in the wage rate

B) a decrease in the value people place on their leisure time

C) an increase in the price of the output of the firm

D) all of the above

 

17) A decrease in the productivity of workers shifts the labor ________ curve to the ________.

A) supply; left

B) supply; right

C) demand; right

D) demand; left

18) An increase in worker productivity

A) reduces the demand for labor.

B) increases the demand for labor.

C) reduces the supply of labor.

D) increases the supply of labor.

 

19) Tyler is not employed. The value Tyler places on his leisure time is $15 an hour. Tyler looks for a job and all the offers he has are for less than $15 an hour. Tyler should supply

A) exactly 40 hours per week in the labor market.

B) between 0 and 20 hours per week in the labor market.

C) between 20 and 40 hours per week in the labor market.

D) 0 hours in the labor market.

 

20) Stephanie is currently not employed. She places a value of $8 an hour on her time in nonmarket activities. If Stephanie is offered a job paying $10 an hour

A) she should supply a positive number of hours in the labor market and allocate no time to nonmarket activities.

B) she should supply 0 hours in the labor market and allocate all of her time to nonmarket activities.

C) she should supply a positive number of hours in the labor market and to nonmarket activities.

D) she is indifferent between supplying hours to the labor market and using her time in nonmarket activities.

21) Patrick is currently not employed. He places a value of $13 an hour on his time in nonmarket activities. If Patrick is offered a job paying $8 an hour

A) he should supply a positive number of hours in the labor market and allocate no time to nonmarket activities.

B) he should supply a positive number of hours in the labor market and to nonmarket activities.

C) he is indifferent between supplying hours to the labor market and using his time in nonmarket activities.

D) he should supply 0 hours in the labor market.

 

22) Arnold is contemplating whether he should take a job offered to him. Arnold should

A) not take the job if the value of his leisure is greater than the wage rate the job pays.

B) not take the job if the value of his leisure is less than the wage rate the job pays.

C) not take the job if taking the job implies he will enjoy less leisure.

D) take the job if taking the job implies he will enjoy more leisure.

 

23) If a policy is implemented that guarantees all adults an annual income of $40,000 whether they work or not, then this would most likely shift the

A) labor demand curve to the left.

B) labor supply curve to the right.

C) labor supply curve to the left.

D) labor demand curve to the right.

 

 

 

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