Up To Date Labour Market ( Economics ) MCQs – Latest Economics MCQs
This post is comprising of latest ” ( Economics ) MCQs – Latest Competitive Medical MCQs “. Here you’ll get latest Economics mcqs for written test, interview with answers. If you want to improve your knowledge regarding Economics then read these mcqs of Design of Steel Structures.
Latest Economics MCQs
By practicing these MCQs of Labour Market ( Economics ) MCQs – Latest Competitive Medical MCQs , an individual for exams performs better than before. This post comprising of mechanical engineering objective questions and answers related to “Labour Market ( Economics ) Mcqs “. As wise people believe “Perfect Practice make a Man Perfect”. It is therefore practice these mcqs of Economics to approach the success. Tab this page to check “Labour Market ( Economics )” for the preparation of competitive mcqs, FPSC mcqs, PPSC mcqs, SPSC mcqs, KPPSC mcqs, AJKPSC mcqs, BPSC mcqs, NTS mcqs, PTS mcqs, OTS mcqs, Atomic Energy mcqs, Pak Army mcqs, Pak Navy mcqs, CTS mcqs, ETEA mcqs and others.
Latest Labour Market ( Economics ) Mcqs
The most occurred mcqs of Labour Market ( Economics ) in past papers. Past papers of Labour Market ( Economics ) Mcqs. Past papers of Labour Market ( Economics ) Mcqs . Mcqs are the necessary part of any competitive / job related exams. The Mcqs having specific numbers in any written test. It is therefore everyone have to learn / remember the related Labour Market ( Economics ) Mcqs. The Important series of Labour Market ( Economics ) Mcqs are given below:
Unions tend to increase the disparity in pay between insiders and outsiders by ?
A. decreasing the demand for workers in the Unionized sector
B. Increasing the demand for workers in the Unionized sector
C. increasing the wage in the Unionized sector, Which may create a decrease in the supply of workers in the non-unionized sector
D. Increasing the wage in the Unionized sector which may create an increase in the supply of workers in the non-unionized sector
Union might increase efficiency in the case Where they ?
A. Lower the wage of local outsiders
B. Raise the wage for insiders above the competitive equilibrium
C. Offset the market power of a large firm that is the dominant employer in a region
D. Threaten a strike but don’t actually follow through so there are not lost hours of work
Which of the following is an example of a reason why firms might pay efficiency wages ?
A. At equilibrium wages workers often quit to find better jobs
B. At equilibrium wages workers sleep when the boss is not looking because workers are not deeply concerned about being fired.
C. At equilibrium wages only minimally qualified workers apply for the job
D. At equilibrium wages, workers cannot afford a healthy diet so they fall asleep at work due to a lack of energy
E. All of these answers
Which of the following government policies would fail to lower the unemployment rate ?
A. Establishing right-to-work laws
B. Establishing worker training Programs
C. Reducing unemployment benefits
D. Establishing employment agencies
E. Raising the minimum wage
If, for any reason the wage is held above the competitive equilibrium wage?
A. The quantity of labour supplied will exceed the quantity of labour demanded and there will be Unemployment
B. The quantity of labour demanded will exceed the quantity of labour supplied and there will be a labour shortage
C. Unions will likely Strike and the wage will fall to equilibrium
D. The quality of workers in the applicant pool will tend to fall
Macroeconomic Issues And Analysis MCQs
A minimum wage law tends to ?
A. have no impact on unemployment as long as it is set above the competitive equilibrium wage
B. Help all teenagers because they receive a higher wage than they would otherwise
C. Create more Unemployment is high-skill job markets than in low-skill job markets
D. Create more unemployment in low-skill job markets than in high-skill job markets
Refer to Figure 1. The unemployment rate is ?
A. 5.7 Percent
B. 3.2 Percent
C. 5.8 Percent
D. Not Enough
According to the Office of National Statistics UK, a husband who chooses to stay home and take care of household is ?
A. A discouraged worker
B. Not in the labour force
C. Employed
D. Unemployed
TO reduce cyclical unemployment the government might ?
A. Reduce interest rates
B. Increase the balance of payment deficit
C. Increase the budget surplus
D. Reduce government expenditure
Reducing involuntary unemployment ?
A. Helps the economy move on the to Production Possibility Frontier
B. Helps the economy move along its Production Possibility Frontier
C. Helps shift the economy’s Production Possibility Frontier outwards
D. Helps the economy move inside the Production Possibility Frontier
Occupational immobility of labour occurs if ?
A. People do not want to work
B. People lack information
C. People do not have the right skills to work
D. People cannot afford to move location
If the real wage is too high in the labour market ?
A. The quantity demanded of labour is lower than the quantity supplied
B. The quantity demanded of labour equals the quantity supplied
C. The quantity demanded of labour is higher than the quantity supplied
D. It will automatically adjust in the short run to bring equilibrium
Supply side policies are most appropriate to cure ?
A. Cyclical unemployment
B. Involuntary unemployment
C. Voluntary unemployment
D. A fall in aggregate demand
If the minimum wage is set above the equilibrium wage rate, then another thing unchanged ?
A. There will be equilibrium in the labour market
B. More people will be employed
C. There will be excess supply in the labour market
D. There will excess demand in the labour market
In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals?
A. The marginal product
B. The average cost of labour
C. The marginal revenue
D. The total cost of labour
Demand for labour is more likely to be wage inelastic if ?
A. Wages are a small proportion of total costs
B. It is easy to replace labour
C. Demand for the final product is price elastic
D. Capital is a good substitute for labour
A decrease in the supply of labour is likely to lead to ?
A. A lower equilibrium wage and higher quantity of labour
B. A lower equilibrium wage and lower quantity of labour
C. A higher equilibrium wage and higher quantity of labour
D. A higher equilibrium wage and lower quantity of labour
The Marginal Revenue Product is likely to be wage inelastic if ?
A. Demand for the final product is price inelastic
B. Labour costs are a high percentage of total costs
C. It is relatively easy to substitute capital for labour
D. There are many substitutes for the final product
IF Unemployment insurance were so generous that it paid laid off workers 95 percent of their regular salary ?
A. The official unemployment rate would probably understate true unemployment
B. Frictional Unemployment would fall
C. The official unemployment rate would probably overstate true unemployment
D. There would be no impact on the official unemployment rate
E. None of these answers
Which of the following types of unemployment will exist even if the wage is at the competitive equilibrium ?
A. Unemployment due to efficiency wages
B. Unemployment due to unions
C. Frictional Unemployment
D. Unemployment due to minimum-wage laws
Markets, Efficiency And Public Interest MCQs
Which of the following statements about efficiency wage theory is true ?
A. Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law
B. Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities
C. Paying the lowest possible wage is always the most efficient (Profitable)
D. Paying above the competitive equilibrium wage may improve worker health lower worker turnover improve worker quality and increase worker effort
Some frictional Unemployment is inevitable because ?
A. Of unions
B. There are changes in the demand for labour among different firms.
C. of minimum wage laws
D. All of these answers
E. Efficiency wages may hold the wage
Sector shifts tend to raise which type of unemployment ?
A. Unemployment due to efficiency wages
B. Structural Unemployment
C. Unemployment due to unions
D. Frictional Unemployment
A reservation wage is the ?
A. tip necessary to get a waiter to reserve a table
B. Maximum wage the firm is willing to pay
C. minimum wage the worker is willing to accept
D. competitive equilibrium wage.
Which one of the following types of Unemployment results from the wage being held above the competitive equilibrium wage ?
A. Structural unemployment
B. Frictional Unemployment
C. Cyclical Unemployment
D. None of these answers
E. Sectoral Unemployment
A miner who has been unable to find work for so long that he has stopped looking for work is considered to be ?
A. Not in the labour force
B. Unemployed
C. Not in the adult population
D. Employed
Refer to Figure 1. The labour force participation rate is ?
A. 65.9 Percent
B. 47.1 Percent
C. 50.2 Percent
D. 70.2 Percent
Refer to Figure 1 The labour fouce is ?
A. None of theses answers
B. 134.0 million
C. 92.3 million
D. 98.0 million
The amount of unemployment that the economy normally experiences is known as ?
A. The natural rate of unemployment
B. efficiency wage unemployment
C. cyclical unemployment
D. frictional unemployment
Less demand in the economy may increase unemployment; this may lead to less spending which may reduce demand further. This is called ?
A. The upward PPF
B. The downward multiplier
C. The upward accelerator
D. The downward mpc
Which of the following is not a supply side measure ?
A. Providing more information
B. Increased training
C. Helping individuals to move location to find work
D. Increasing spending on existing industries
If there is cyclical unemployment in the economy the government might ?
A. Cut taxes
B. Encourage savings
C. Increase interest rates
D. Reduce government spending
The natural rate of unemployment is likely to fall if ?
A. unemployment benefits increase
B. More training is available for the unemployed
C. Income tax increases
D. Geographical immobility increases
International Factor Movements And Multinational Corporations MCQs
If people are made unemployed because of a fall in aggregate demand this is known as ?
A. Cyclical unemployment
B. Seasonal unemployment
C. Frictional unemployment
D. Structural unemployment
If employees cannot accept a job because of the costs of moving this is known as ?
A. Structural immobility
B. Cyclical unemployment
C. Occupational immobility
D. Geographical immobility
A profit maximising firm will employ labour up to the point where ?
A. Marginal revenue product = average cost of labour
B. Marginal cost = marginal product
C. Marginal revenue = marginal product
D. Marginal revenue product = marginal cost of labour
The Marginal Revenue Product is ?
A. Upward sloping due to the law of demand
B. Downward sloping due to the law of supply
C. Downward sloping due to the law of diminishing returns
D. Upward sloping due to the law of marginal utility
A fall in demand for labour is likely to lead to ?
A. A higher equilibrium wage and higher quantity of labour
B. A lower equilibrium wage and higher quantity of labour
C. A lower equilibrium wage and lower quantity of labour
D. A higher equilibrium wage and lower quantity of labour
An increase in the wage rate ?
A. is illegal in a free market
B. Will decrease total earning if the demand for labour is wage elastic
C. Will usually lead to more people employed
D. will cause a shift in the demand for labour