Solutions of Review Exercise of Chapter 2
1. Which of the following is not a property of standard indifference curves in a leisureconsumption
A. Indifference curves tend to be downward sloping.
B. Higher indifference curves (to the northeast) indic
Solutions of Review Exercise on Chapters 6 and 7
A. the average years of education as a function of age.
B. the average wage or salary of workers for a given level of schooling.
C. the econo
Solutions of Review Exercise of Chapter 1
1. Which is not a decision made by potential workers in the United States?
A. Deciding whether or not to participate in the labor force.
B. Determining how to divide one's time between work and leisure.
Solutions of Review Exercise of Chapter 3
A. factor prices to output prices.
B. wages to labor employed.
C. factors of production to total output.
D. factors of production to profit.
E. the output price to factors of pro
ECON4040 Labour Economics Assignment 1
Part I Multiple Choice Questions (36 marks)
1. Suppose labor supply can be described as ES = 0.1w - 1,000 where w is yearly salary. How
many more workers are willing to work at a yearly salary of $4