B. Create more Unemployment is high-skill job markets than in low-skill job markets

C. have no impact on unemployment as long as it is set above the competitive equilibrium wage

D. Help all teenagers because they receive a higher wage than they would otherwise

A. Cyclical unemployment

B. Involuntary unemployment

D. Voluntary unemployment

A. Lower the wage of local outsiders

B. Raise the wage for insiders above the competitive equilibrium

D. Threaten a strike but dont actually follow through so there are not lost hours of work

A. Establishing employment agencies

B. Establishing right-to-work laws

D. Reducing unemployment benefits

E. Establishing worker training Programs

A. Helps the economy move along its Production Possibility Frontier

C. Helps the economy move inside the Production Possibility Frontier

D. Helps shift the economys Production Possibility Frontier outwards

A. People cannot afford to move location

C. People do not want to work

D. People lack information

A. increasing the wage in the Unionized sector, Which may create a decrease in the supply of workers in the non-unionized sector

B. Increasing the demand for workers in the Unionized sector

D. decreasing the demand for workers in the Unionized sector

A. At equilibrium wages workers often quit to find better jobs.

B. At equilibrium wages workers sleep when the boss is not looking because workers are not deeply concerned about being fired

D. At equilibrium wages, workers cannot afford a healthy diet so they fall asleep at work due to a lack of energy

E. At equilibrium wages only minimally qualified workers apply for the job

A. Not Enough

C. 5.7 Percent

D. 3.2 Percent

A. More people will be employed

B. There will excess demand in the labour market

D. There will be excess supply in the labour market

A. Employed

C. A discouraged worker

D. Unemployed

A. Increase the budget surplus

B. Reduce interest rates

C. Increase the balance of payment deficit

B. The quantity of labour demanded will exceed the quantity of labour supplied and there will be a labour shortage

C. The quality of workers in the applicant pool will tend to fall

D. Unions will likely Strike and the wage will fall to equilibrium

A. The quantity demanded of labour is lower than the quantity supplied

B. The quantity demanded of labour is higher than the quantity supplied

D. It will automatically adjust in the short run to bring equilibrium

B. Upward sloping due to the law of marginal utility

C. Downward sloping due to the law of diminishing returns

D. Downward sloping due to the law of supply

A. Efficiency wages may hold the wage

B. of minimum wage laws

C. All of these answers

E. Of unions

A. Reduce government spending

B. Cut taxes

C. Increase interest rates

A. The downward mpc

C. The upward PPF

D. The upward accelerator

A. Unemployment due to unions

B. Unemployment due to efficiency wages

C. Structural Unemployment

A. Unemployment due to minimum-wage laws

B. Unemployment due to efficiency wages

D. Unemployment due to unions

A. Marginal revenue product = average cost of labour

B. Marginal revenue product = marginal cost of labour

D. Marginal revenue = marginal product

A. Structural immobility

B. Geographical immobility

C. Occupational immobility

A. Unemployed

B. Not in the adult population

C. Employed

B. Paying the lowest possible wage is always the most efficient (Profitable)

C. Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities

D. Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law

A. It is easy to replace labour

C. Capital is a good substitute for labour

D. Demand for the final product is price elastic

A. Cyclical unemployment

B. Frictional unemployment

D. Structural unemployment

A. The marginal product

B. The marginal revenue

D. The average cost of labour

A. A lower equilibrium wage and lower quantity of labour

B. A higher equilibrium wage and higher quantity of labour

C. A lower equilibrium wage and higher quantity of labour

A. Providing more information

C. Increasing spending on existing industries

D. Increased training

A. Geographical immobility increases

C. Income tax increases

D. More training is available for the unemployed

A. tip necessary to get a waiter to reserve a table

B. competitive equilibrium wage.

C. Maximum wage the firm is willing to pay

A. is illegal in a free market

B. Will decrease total earning if the demand for labour is wage elastic

C. Will usually lead to more people employed

A. Labour costs are a high percentage of total costs

C. It is relatively easy to substitute capital for labour

D. Demand for the final product is price inelastic

A. 134.0 million

C. None of theses answers

D. 92.3 million

A. None of these answers

C. The official unemployment rate would probably understate true unemployment

D. Frictional Unemployment would fall

E. There would be no impact on the official unemployment rate

A. A higher equilibrium wage and lower quantity of labour

C. A lower equilibrium wage and lower quantity of labour

D. A higher equilibrium wage and higher quantity of labour

A. None of these answers

B. Sectoral Unemployment

D. Cyclical Unemployment

E. Frictional Unemployment

A. 50.2 Percent

C. 65.9 Percent

D. 47.1 Percent

B. frictional unemployment

C. cyclical unemployment

D. efficiency wage unemployment