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Labour Markets
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Quiz on Labour Market Economics
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
The 'I' in NAIRU stands for ?
Import
In
Inflation
Interest
2
Which type of flexibility is due to a firm's ability to change the hours employees work?
Occupational
Temporal
Locational
Functional
3
Which of the following theories relates to discrimination?
Laffer
Marshall-Lerner
Becker's theory
Harrod-Domar
4
Which factor does not affect the elasticity of supply of labour?
Time period
Length of training
Mobility of labour
Ease of substitution
5
Which factor does not affect a firm's demand for labour
Complementary costs
Skill shortage
Wage rate
Expected demand
6
Unemployment arising as a result of a lack of AD is known as?
Frictional
Structural
Disequilibrium
Equilibrium
7
Skills, knowledge & experience workers possess is known as ?
Skill
Human capital
Human attributes
Experience
8
There continues to be a decline in numbers employed in the secondary sector in the UK.
True
False
9
Firms maximise profits where ?
AC=MR
MRP=AC
AC=MR
MC=MR
10
Transfer earnings are what a worker could earn in his/her best paid alternative employment.
False
True
11
One of a few dominant firms buying a certain type of labour is known as ...
Oligopsonist
Monopsonist
Oligopoly
Oligopolist
12
Which of the following is not an example of a fringe benefit?
Discounts
Company car
Status
Free healthcare
13
A monopsonist influences the wage rate and is therefore a ...
Cheapskate
Wage taker
Price taker
Price maker
14
A market with a single buyer and seller is known as this.
Dual monopoly
Bilateral monopsony
Dual monopsony
Bilateral monopoly
15
A part-time worker works less than how many hours per week?
45
40
30
35
16
What is the current National Minimum Wage for an apprentice?
£3.70
£3.40
£2.80
£3.20
17
Wages are sure to be lower if workers have strong bargaining power relative to their employers.
True
False
18
Which factor is not a non-pecuniary advantage or disadvantage of supplying labour?
Flexibility
Location
Hours
Wage
19
Demand for one item depending on demand for another is known as what type of demand?
Dependent
Derived
Substitute
Dynamic
20
Which of these groups is not economically active
24 year-old male
Part-time student
64 year-old female
Housewife
