Quiz_175 - 79 Allelseequal, thiswill A B , C

Quiz_175 - 79 Allelseequal, thiswill A B , C

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79) All else equal, if job turnover has people leaving jobs and finding new jobs in the same industry,this will A) increase the demand for labor and the supply of labor.B) decrease the supply of labor, but not change the demand for labor.C) increase the demand for labor and decrease the supply of labor.D) not change demand or supply in the labor market.Answer: D 79) Diff: 2 Page Ref: 553 - 555/553 - 555 Topic: Labor Market Equilibrium Learning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factor supply and labor in factor markets AACSB: Reflective Thinking 80) If the number of employees who quit, are fired, or retire increases while the hiring of newemployees declines, this indicates that the 80) Diff: 2 Page Ref: 553/553 Topic: Labor Market Equilibrium Learning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factor supply and labor in factor markets AACSB: Reflective Thinking TRUE/FALSE. Write ʹ T ʹ if the statement is true and ʹ F ʹ if the statement is false. 81) All else equal, a decrease in the supply of labor will shift the labor supply curve to the left and decrease the equilibrium wage. 81) Answer: True False Diff: 1 Page Ref: 555/555 Topic: Labor Market Equilibrium Learning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factor supply and labor in factor markets AACSB: Reflective Thinking 82) If the demand for labor is unchanged, population growth will increase the supply of labor and increase the equilibrium wage. 82) Answer: True False Diff: 1 Page Ref: 555/555 Topic: Labor Market Equilibrium Learning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factor supply and labor in factor markets AACSB: Reflective Thinking 24
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83) According to the U.S. Bureau of Labor Statistics, between 2000 and 2005, real wages in concrete work fell by 16.5%, despite a soaring demand for workers. This implies that the supply of workers
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  • AACSB, Page Ref, 83, factor demand, Labor Market Equilibrium

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