The unemployment rate is best defined by

% of the workforce that has no job and is looking for a job.

An increase in the number of producers increases the supply of a product and also

increases the demand for workers to produce the product.

An increase in child care benefits may lead to which of the following?

An increase in labor supply of working mothers.

Higher input prices have which of the following effects on the labor market?

They lower the demand for labor

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ECO211 11.10-12.35 Labor market (TEAM)

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Introduction to the market forces of Supply and Demand in Labor markets.

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Questions 10

Answers

1
Higher education requirements tend to have which of the following effects on the labor market?
They raise the supply of labor.
They lower the demand for labor.
They raise the demand for labor.
The lower the supply of labor.
2
The unemployment rate is best defined by
% work force that is looking for a job
% of the workforce that has no job and is looking for a job.
% of adult pop. that has no job and is looking for a job.
% of the work force that is working full time.
3
The demand for labor is a __ because it depends on demand for the product the labor produces.
dependent demand
unpredictable demand
determined demand
derived demand
4
Minimum wage is an example of a price
shift
shortage
floor
ceiling
5
Technology can also be a substitute for labor. Which of the following are most vulnerable?
skilled workers
workers who don't adapt
workers with increased productivity
workers who adapt
6
An increase in the number of producers increases the supply of a product and also
decreases the supply of a product
increases the price of a product
increases the demand for workers to produce the product.
increases the demand for the product
7
An increase in child care benefits may lead to which of the following?
An increase in labor supply of working mothers.
An increase in labor demand for working mothers.
A decrease in labor demand for working mothers.
A decrease in labor supply of working mothers.
8
Technology can complement labor and therefore can _ the demand for certain types of labor.
substitute for
have no effect on
increase
decrease
9
Higher input prices have which of the following effects on the labor market?
They raise the demand for labor
They lower the supply of labor
They raise the supply of labor
They lower the demand for labor
10
Immigration tends to affect labor markets in which of the following ways?
increase labor supply
increase wages
decrease labor supply
decrease labor demand

ECO211 11.10-12.35 Labor market (TEAM) Flashcards | StudBud