PP_Slides_Class_12_Wednesday_February_20

PP_Slides_Class_12_Wednesday_February_20 - Good Afternoon!!...

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Unformatted text preview: Good Afternoon!! Class 12 Wednesday, February 20 1. The midterm exam in this class is a. Monday, February 25 b. Wednesday, February 27 c. Monday, March 10 d. Wednesday, March 12 e. Monday, March 17 1. Which statement is true about the midterm? a. graphing calculators and cell phones are allowed b. I will provide a study sheet c. you may bring a formula sheet d. it is multiple choice and covers chapters 1 through 10 e. you dont need to bring your MSU photo ID Unemployment Compensation Experiment labor market for low skilled workers Employer buyer value highest hourly wage willing to pay per hour Worker cost of working what the worker gives up to work an hour-work related expenses-unemployment compensation collect if not work 3. When the demand for labor curve shifts left, the equilibrium wage _____ and the equilibrium quantity working _____. a. Rises Rises b. Falls Falls c. Rises Falls d. Falls Rises 4. When the supply of labor curve shifts left, the equilibrium wage _____ and the equilibrium quantity working _____. a. Rises Rises b. Falls Falls c. Rises Falls d. Falls Rises 5. When the supply of labor curve shifts further left, the equilibrium wage _____ and the equilibrium quantity working _____....
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This note was uploaded on 03/31/2008 for the course ECON 202 taught by Professor Amsler during the Spring '08 term at Michigan State University.

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PP_Slides_Class_12_Wednesday_February_20 - Good Afternoon!!...

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