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Seminar 5

Gio Gobronidze 12 questions

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Questions in this quiz (12)

  1. 1 Which of the following is considered out of the labor force?


    1. AA) the unemployed who have given up looking for a job
    2. BB) those temporarily laid off who will soon be recalled
    3. CC) those who worked full time, but in a family business
    4. DD) those individuals who have started searching for employment for the first time
    5. EE) all of the above
  2. 2 Which of the following individuals would be considered unemployed?

    1. AA) an individual who works only part-time
    2. BB) an individual who works full-time in a family business, but is not paid
    3. CC) an individual who is not working and is not looking for work
    4. DD) all of the above
    5. EE) none of the above
  3. 3Which of the following variables is most directly determined in the labor market?

    1. AA) stock prices
    2. BB) nominal wages
    3. CC) interest rates
    4. DD) all of the above
    5. EE) none of the above
  4. 4 Efficiency wage theory suggests that
    1. AA) workers will be paid less than their reservation wage.
    2. BB) productivity might drop if the wage rate is too low.
    3. CC) the government can only set tax rates so high before people will prefer not to work.
    4. DD) unskilled workers will have a lower turnover rate than skilled workers.
    5. EE) firms will be more resistant to wage increases as the labor market tightens.
  5. 5 In the wage-setting relation, the nominal wage tends to decrease when
    1. AA) the price level increases.
    2. BB) the unemployment rate decreases.
    3. CC) unemployment benefits decrease.
    4. DD) the minimum wage increases.
    5. EE) all of the above
  6. 6 In the wage setting relation W = PeF(u,z), the variable z does NOT include which of the following
    variables?
    1. AA) the minimum wage
    2. BB) unemployment benefits
    3. CC) the extent to which firms mark up prices over their marginal cost
    4. DD) all of the above
    5. EE) none of the above
  7. 7 The natural level of output is the level of output that occurs when
    1. AA) the goods market and financial markets are in equilibrium.
    2. BB) the economy is operating at the unemployment rate consistent with both the wage-setting and pricesetting equations.
    3. CC) the markup (m) is zero.
    4. DD) the unemployment rate is zero.
    5. EE) there are no discouraged workers in the economy.
  8. 8Which of the following represents the participation rate?
    1. AA) the ratio of the number employed to the size of the labor force
    2. BB) the ratio of the number employed to the civilian noninstitutional population
    3. CC) the ratio of the labor force to the civilian noninstitutional population
    4. DD) the ratio of the labor force to the total number of employed and unemployed workers
  9. 9A reduction in unemployment benefits will tend to cause which of the following?
    1. AA) an upward shift in the WS curve
    2. BB) a downward shift in the WS curve
    3. CC) an upward shift in the PS curve
    4. DD) a downward shift in the PS curve
    5. EE) none of the above
  10. 10 Suppose that increased international trade makes product markets more competitive in Europe.
    Given this information, we would expect to observe which of the following?

    1. AA) an upward shift in the WS curve
    2. BB) a downward shift in the WS curve
    3. CC) an upward shift in the PS curve
    4. DD) a downward shift in the PS curve
    5. EE) none of the above

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Description
Quiz on Seminar 5, created by Gio Gobronidze on 21/05/2016.
Language
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