Governments intervene in labour markets to:

achieve full employment and price stability

The demand for labour is derived from the demand for

the final goods/services which the labour is used to produce

The participation rate represents the percentage of the working age population who are:

in employment or actively looking for work

Australian labour force data is collected and compiled by

the Australian Bureau of Statistics

In a competitive labour market the equilibrium wage and number employed is determined by

the interaction of demand and supply for labour

The Australian Labourforce excludes

people who are unable to work for health reasons

The term "human capital" refers to:

knowledge, skills, experience, health education and training

The supply of labour is not influenced by

the productivity of labour relative to capital

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Labour Markets

15 termsStudBud Administration1,862 plays

A labour market quiz for prelim eco

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Questions 15

Answers

1
Demand for labour is a:
derived demand
relative demand
determined demand
produced demand
2
Governments intervene in labour markets to:
increase unemployment levels
achieve full employment and price stability
ensure wage inflation impact general inflation
reduce the competitiveness of Australian firms
3
The demand for labour is derived from the demand for
the final goods/services which the labour is used to produce
better working conditions
the skills, experience and education of workers
human capital
4
The ability of workers to move from one role or industry to another is known as
geographic mobility
occupational mobility
flexible mobility
relative mobility
5
The participation rate represents the percentage of the working age population who are:
working in the services sector
in employment or actively looking for work
married and raising a family
utilising flexible working arrangments
6
When wages decrease, employers typically:
hire more people
outsource labour
fire people
increase wages
7
Australian labour force data is collected and compiled by
the Department of Employment
firms and businesses
the Australian Bureau of Statistics
the Department of Industrial Relations
8
In a competitive labour market the equilibrium wage and number employed is determined by
Government policy regarding the minimum wage
the number of people actively seeking work
the number of casual vacancies
the interaction of demand and supply for labour
9
The relative cost of labour to capital in the production process will influence the
the number of people actively looking for work
the number of people available to work on a full time basis
supply of labour
demand for labour
10
The labour market is a:
commodity market
product market
factor market
financial market
11
Which of the following DOES NOT influence the demand for labour?
The productivity of labour
The participation rate
Conditions of employment offered
The nature and size of industry
12
The Australian Labourforce excludes
people who are unemployed but are actively looking for work
people employed on a part time basis
people who are unable to work for health reasons
people employed on a casual basis
13
The term "human capital" refers to:
flexibility in working conditions
knowledge, skills, experience, health education and training
the composition of employment in an economy
appetite for increased wages
14
What happens to the price of labour if the supply of labour decreases?
No change
Price of labour increases
Price of labour decreases
Price of labour fluctuates
15
The supply of labour is not influenced by
the participation rate
flexible working conditions
the productivity of labour relative to capital
wages and other incentives offered

Labour Markets Flashcards | StudBud