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045 A2 Economics Labour markets Flashcards | StudBud
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045 A2 Economics Labour markets
045 A2 Economics Labour markets
25 terms
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StudBud Administration
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41 plays
labour markets and First part of Government Intervention
Flashcards
25 cards
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Practice quiz
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Host live
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Questions
25
Answers
1
What is the formula used to price cap utilities?
RPI-X
RPI/X
PRI-X
RPI+X
2
Unemployment is high in Liverpool, yet in London there is a shortage of unskilled workers
Occupational Mobility
Geographical Mobility
Occupational Immobility
Geographical Immobility
3
What is the market situation depicted here?
Imperfect Competition
Perfect Labour market
Imperfect Labour Market
Monopsony Supermarket
4
What market situation is this?
Perfect Labour market
Imperfect Labour Market
Labour market with perfectly elastic demand
Labour market with perfectly inelastic supply?
5
Lydon, Jones, Cook and Matlock were the original line of . . .
The Jam
The Clash
The Sex Pistols
The Stranglers
6
What type of demand is the demand for labour
Denied
Derrived
Derivved
Derived
7
Labour market failure is . .
Failure to allocate all resources efficiently
Failure to allocate natural resources efficiently
Failure to allocate physical resources efficiently
Failure to allocate human resources efficiently
8
Which band is this?
The Jam
The Sex Pistols
The Stranglers
The Clash
9
What is the formula for WRES?
% Change in Wages / % Change in Supply
% Change in Supply / % Change in WRED
% Change in Demand / % Change in Supply
% Change in Supply / % Change in Wage Rate
10
Which of these will not explain wage differentials for the same job
Gender
Length of Service
National Minimum Wage
Asymmetric Information
11
Which of these is not an argument against the national minimum wage
It distorts the price mechanism
It attracts a wider pool of labour
It puts business costs up
It may cause unemployment
12
From which city does this team come from?
Glasgow
Birmingham
Kiev
London
13
What is the name of the tax the government can place on firms who take the rise?
Windwillow Tax
Windrush Tax
Windfall Tax
Windowsill Tax
14
Training and Education is a supply side policy designed to
Make labour markets less flexible
Reduce the Phillips Curve
Increase the WRED
Increase the WRES
15
Who is this singer?
Sinead O'Connor
Dannii Minogue
Susan Boyle
Kylie Minogue
16
Which one of these is a supply influencing factor of labour.
Real GNP
The Gini co-efficient
GDP per head
Government education policy
17
Where is this stadium?
East London
South East London
South West London
North London
18
When there is a low level of unemployment, . . .
WRED is zero
WRED is positive
WRED is negative
WRES is below 1
19
What market situation is this?
Imperfect Competition
Monopoly
Collusive Oligopoly
Competitive Oligopoly
20
A steel works closes in a town losing 500 jobs. Explain why there is still mass unemployment?
Occupational Immobility
Geographical Mobility
Occupational Mobility
Geographical Immobility
21
What city is this?
Marrakech
Northampton
Dubai City
Algiers
22
Wages rates are more volatile when WRES and WRED have . . . .
Low coefficients
Have a joint coefficient of -1
Have a infinite coefficient
Have high coefficients
23
Which of the following cannot be price capped by the government or their regulators?
Sainsbury's
Train Operating Companies
Water Companies
Gas Companies
24
Which of these represents the impact of setting the maximum wage above the natural equilibrium?
Underemployment
Labour Shortage
Surplus Labour
No effect
25
Which of the following does not influence demand for labour
Period of the Economic Cycle
Cost and availability of technology
Government Education Policy
Demand for the end product
