Practice test Labor 4200 chap 2, 3, 4
During the twentieth century, the unemployment rate in the United States
A) has remained roughly constant.
B) has generally increased.
C) has generally decreased.
D) has become more stable.
TABLE 2-2: Workers in the Widget Industry
According to Table 2-2, real earnings in the Widget Industry in 1986 were
When the price of labor falls, the quantity of ________ demanded will _________,
but the effect on _________ is ambiguous.
A) labor, increase, capital
B) labor, decrease, capital
C) capital, increase, labor
D) capital, decrease, labor
If the price of a product decreases due to a decrease in demand, then
A) the firm moves to the left along the labor demand curve.
B) the firm moves to the right along the labor demand curve.
C) the labor demand curve shifts to the left.
D) the labor demand curve shifts to the right.
If more people enter the labor market for architects, then
A) both the wage rate and the employment level will increase.
B) both the wage rate and the employment level will decrease.