Homework Answers
All of the above
When labour forms union, they demand for a higher wage which is above the equilibrium wage. This inturn reduces the labour demanded, leaving many unemployed and the overall wages in the economy falls. Allocation of labour is inequitable as few gets employed for a higher wage at the expense of others. It is inefficient as firms would reduce their production below the equilibrium quantity.
Add Answer to:
Which of the following is correct? a. In unionized industries, wages are above the level that...
Which of the following statements is (are) correct? (x)Minimum wage laws that raise the raise the...
Which of the following statements is (are) correct? (x)Minimum wage laws that raise the raise the minimum wage above the equilibrium wage in the unskilled labor market contribute to the natural rate of unemployment. (y)Minimum wages create unemployment in markets where they create a surplusof labor. Unemployment of this type is called structural. (z)If some wages are forced above the equilibrium level and they are not able to return to equilibrium, then the economy experiences an increase in structural unemployment...
11) In 1998, ______________________ were over 8 times more likely to be unemployed as white adult...
11) In 1998, ______________________ were over 8 times more likely to be unemployed as white adult males. black females black teenagers white teenagers female Hispanics (12) Many economists theorize that the non-accelerating inflation rate of unemployment has declined over time. Which of the following factors could economists use to help explain why the NAIRU fell? Decreased immigration The transition away from a service economy toward an agricultural economy The lingering effects of the spikes in oil prices...
Which of the following statements concerning the infant industry argument is NOT correct? A. An infant...
Which of the following statements concerning the infant industry argument is NOT correct? A. An infant industry is too underdeveloped to achieve comparative advantage. B. Infant industry protection is difficult to remove after the industry has matured. C. The management and workers in an infant industry may be too inexperienced to compete in world markets. D. Infant industry protection tends to focus on labor-intensive industries
3)Which of the following is considered as labor: a. Any exertion of mind or body that...
3)Which of the following is considered as labor: a. Any exertion of mind or body that undergone with a view to some good other than the pleasure derived directly from the work. b. Any human effort, for which a reward or remuneration is not received c. Labor is the human effort used in the production process for which a reward or remuneration is paid either in kind or in cash. d. All of the above. 4. Craft unions a. Sometimes...
1 Suppose that wages paid to both factory workers and construction workers in a perfectly competitive...
1 Suppose that wages paid to both factory workers and construction workers in a perfectly competitive factor market is $15 per hour. If the market for factory workers becomes unionized, you would expect: a. an increase in the wage rate for construction workers. b. an increase in the supply of factory workers. c. an increase in the wage rate for factory workers. d. no change in the wage rate for either factory workers or construction workers. 2 Marginal cost is...
please anwser all questions. thank you so much! Aa Aa Undershaft Industries is a monopsonist. The following graph shows the labor supply curve it faces (labeled "S"), its marginal reven...
please anwser all questions. thank you so much!
Aa Aa Undershaft Industries is a monopsonist. The following graph shows the labor supply curve it faces (labeled "S"), its marginal revenue product curve (labeled "MRP"), and its marginal rèsource cośt curve (labeled MRC). WAGE (Dollars per hour 50 MR 40 MRP 30 20 10 10 20 30 40 QUANTITY OF LABOR INumber of werkersl Undershaft faces an upward-sloping above its labor supply curve. labor supply curve. Therefore, its marginal resource cost...
4. If an unemployed person quits looking for work, ceteris paribus, A. the unemployment rate increases....
4. If an unemployed person quits looking for work, ceteris paribus, A. the unemployment rate increases. B. the unemployment rate decreases. C. the size of the labor force falls. D. A and C, only E. B and C only 6. Which of the following statements is (are) correct? (x) Job search is the process of matching workers with appropriate jobs and people who are unemployed because of job search are best classified as frictionally unemployed. (y) Frictional unemployment can be...
4. Which of the following statements about minimum wages is true? a) Minimum wage laws may make some workers bet...
4. Which of the following statements about minimum wages is true? a) Minimum wage laws may make some workers better off and others worse off. b) Minimum wage laws make employers worse off. c) Both a) and b) are true. d) None of the above are true. 5. Consider diagram below, which illustrates the market for low-skilled labour. Suppose that the equilibrium quantity is reduced from Q1 to Q2 units, through the introduction of a price floor. Which of the...
1. Which of the following statements about the labor market is (are) correct? (x) The supply...
1. Which of the following statements about the labor market is (are) correct? (x) The supply curve reflects job seekers and the demand curve reflects the jobs that are available. (y) Workers determine the demand for labor, and firms determine the supply of labor. (z) The minimum wage is an example of a price floor because the government has mandated a minimum price of labor. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only...
50. Which of the following best illustrates the medium of exchange function of money? O A....
50. Which of the following best illustrates the medium of exchange function of money? O A. You keep some money hidden in your shoe. OB. You keep track of the value of your assets in terms of currency. O c. You pay for your double latte using currency. OD. You lend $25 to your friend. 51. Which of the following lists ranks assets from most to least liquid? O A. currency, fine art, stocks B. currency, stocks, fine art c....
please anwser all questions. thank you so much!
Aa Aa Undershaft Industries is a monopsonist. The following graph shows the labor supply curve it faces (labeled "S"), its marginal revenue product curve (labeled "MRP"), and its marginal rèsource cośt curve (labeled MRC). WAGE (Dollars per hour 50 MR 40 MRP 30 20 10 10 20 30 40 QUANTITY OF LABOR INumber of werkersl Undershaft faces an upward-sloping above its labor supply curve. labor supply curve. Therefore, its marginal resource cost...
4. Which of the following statements about minimum wages is true? a) Minimum wage laws may make some workers better off and others worse off. b) Minimum wage laws make employers worse off. c) Both a) and b) are true. d) None of the above are true. 5. Consider diagram below, which illustrates the market for low-skilled labour. Suppose that the equilibrium quantity is reduced from Q1 to Q2 units, through the introduction of a price floor. Which of the...
50. Which of the following best illustrates the medium of exchange function of money? O A. You keep some money hidden in your shoe. OB. You keep track of the value of your assets in terms of currency. O c. You pay for your double latte using currency. OD. You lend $25 to your friend. 51. Which of the following lists ranks assets from most to least liquid? O A. currency, fine art, stocks B. currency, stocks, fine art c....
Most questions answered within 3 hours.
-
what were the social political and economic causes and impacts of
the late 19th century urban...
asked 2 minutes ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 4 minutes ago -
In doing an allocation for a basket purchase
Use the individual costs and the total market...
asked 5 minutes ago -
if the magnitude of a velocity vector is 10m/s and it
makes an angle of 45...
asked 5 minutes ago -
Which amino acid has a basic R group?
A) tyrosine
B) Isoleucine
C) Glutamic Acid
D)...
asked 16 minutes ago -
Is there the need for the government to have hackers. Please
share your thoughts.
asked 19 minutes ago -
Explain why you should not lose any LDH activity when you
centrifuge a crude sample at...
asked 28 minutes ago -
An AA battery (object), standing on end, is placed to the left
of a diverging lens...
asked 29 minutes ago -
After you measure the self-inductance of a coil, you unwind it
and then rewind one third...
asked 29 minutes ago -
1. Which of the following best describes a transistor?
A) a small electrical circuit made from...
asked 31 minutes ago -
Use generating function to find the number of distributions of
20 people into four different rooms...
asked 46 minutes ago -
The following data set consists the number of minutes a sample
of 25 people run every...
asked 50 minutes ago