Test2_sample - 1 If demand for labor increases the wage...

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1. If demand for labor increases, the wage rate increases. a. True b. False 2. An increase in the supply of labor will, everything else equal, a. increase the full-employment level of output b. decrease the full-employment level of output c. move the economy from a recession toward full employment d. reduce total employment e. have no impact on total employment 3. Refer to Figure 8-2. An increase in output from A to B could be caused by an increase in a. labor demand only b. labor supply only c. labor demand or in labor supply d. technology only e. the capital stock 4. If the actual real wage exceeds the equilibrium wage, there will be an excess supply of labor. a. True b. False 5. Refer to Figure 7-1. If the real hourly wage rate was $6, what would be the effect? a. There would be a shortage of 40 million workers and the wage rate would rise. b. There would be a shortage of 20 million workers and the wage rate would rise. c. There would be a surplus of 40 million workers and the wage rate would fall. d. There would be a surplus of 20 million workers and the wage rate would fall. e. There would be unemployment.
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6. The value of nominal GDP in Kazakhstan in 2007 was 9738,8 bln. Tenge, and in 2008 it was 12726,0 bln. Tenge. How long it will take for nominal value of GDP in Kazakhstan to double if it continues growing at the present rate? a. 10.1 years b. 2.33 years c. 5 years d. 3.4 years 7. If Kazakhstan decides to return workers from Uzbekistan and Kyrgyzstan to their countries of origin, what would happen to employment in Kazakhstan? A.
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This note was uploaded on 03/11/2012 for the course FIN FIN 3230 taught by Professor Petrivanov during the Spring '12 term at Kazakhstan Institute of Management, Economics and Strategic Research.

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Test2_sample - 1 If demand for labor increases the wage...

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