Geographic mobility of labour refers to

the ability of workers to move to obtain work

Which of the following are types of unemployment?

seasonal, structural, frictional, hard-core

The safety net for employees not covered by a collective enterprise agreement consists of

the NES, the minimum wage and modern awards

Non-wage outcomes include

sick leave, holiday leave and superannuation

Current labour market trends in Australia include

higher underemployment, p/t work and casualisation

Factors contributing to differences in income from work include

gender, age, experience, qualifications

Why is labour considered a derived demand?

Demand for labour derived from demand for goods/services.

Who is included in labour force?

over 15 working or actively seeking work

The hidden unemployed are

not included in the labour force or in u/e rate calculations

Less job security, less staff loyalty and difficulty for employees to plan for the future are

disadvantages of casualisation of work

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Year 11 Economics Topic 4 - Labour Demand And Supply

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Labour Demand And Supply

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Questions 16

Answers

1
The process by which the pattern of production in an economy is altered over time is called
economic friction
economic structuring
structural change
frictional change
2
Geographic mobility of labour refers to
the ability of workers to change occupations
the refusal by workers to move to where the jobs are
the ability of workers to move to obtain work
the number of jobs in a particular area
3
Which of the following are types of unemployment?
seasonal, factional, structural, hidden
seasonal, sessional, technical, hard-core
sessional, frictional, structural, hidden
seasonal, structural, frictional, hard-core
4
The safety net for employees not covered by a collective enterprise agreement consists of
the BOOT test
the NES, the minimum wage and modern awards
unemployment benefits
the NES and state rights
5
Non-wage outcomes include
penalty rates
overtime pay
sick leave, holiday leave and superannuation
weekly salary
6
The number of unemployed persons divided by the total labour force is
the employment rate
the participation rate
the underemployment rate
the unemployment rate
7
Major labour market institutions in Australia include
the Fair Work Commission and the Fair Work Ombudsman
Unions and employer groups
state industrial relations commissions
all of the above
8
The major federal law dealing with employment matters is
The Future Work Act
The Fair Labour Act
The Fair Work Act
The Workplace Relations Act
9
Current labour market trends in Australia include
a surplus of full time jobs
higher underemployment, p/t work and casualisation
wage increases due to outsourcing
unemployment rates which are too low
10
Which of the following will lead to a decreased demand for labour?
Decrease in economic activity.
Increase in economic activity.
Increase in demand for firms product.
Increase in cost of capital equipment.
11
Factors contributing to differences in income from work include
the supply of workers in the economy
flexibility of the worker
gender, age, experience, qualifications
personal initiative
12
Why is labour considered a derived demand?
Demand for labour derived from supply of labour.
Demand for labour derived from supply of goods/services.
Demand for labour derived from demand for goods/services.
Demand for labour derived from demand for Aus. exports.
13
Who is included in labour force?
over 18 working only
over 15 working or actively seeking work
over 15 working only
over 18 working or actively seeking work
14
Which of the following is not a benefit of income inequality?
It can reduce economic growth
Entrepreneurs are willing to accept more risk
It encourages people to worker harder
People want to increase their skills and education
15
The hidden unemployed are
included in unemployment rate calculations by the ABS
not included in the labour force or in u/e rate calculations
not included in the working age population figures
included in the labour force
16
Less job security, less staff loyalty and difficulty for employees to plan for the future are
disadvantages of casualisation of work
disadvantages of increased part-time employment
advantages of casualisation of work
advantages of increased part-time employment

Year 11 Economics Topic 4 - Labour Demand And Supply Flashcards | StudBud