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When the government reduces its restrictions on immigration

When the government reduces its restrictions on immigration,

a.the prices of goods rise because the demand for goods increases

b.immigration is reduced

c.labor mobility is reduced

d.wage differentials become narrower

e.all workers are better off

102.              If the wage rates in Canada are lower than in the United States,

a.workers in the United States will want to go to Canada and Canadian businesses will
want to locate in the United States

b.workers in Canada will want to go to the United States and businesses in the United
States will want to locate in Canada

c.unfair international competition is taking place

d.goods will be more expensive in Canada

e.the wage differentials will become wider over time

103.              Persistent wage differentials in the U.S. can best be explained by

a.increased immigration of both skilled and unskilled workers

b.increased labor-force mobility among the states

c.the existence of noncompeting labor markets

d.the existence of backward-bending labor supply curves

e.the increasing competitiveness of firms in labor markets

104.              A minimum wage law that sets the minimum below the equilibrium wage rate will

a.create unemployment

b.have no effect on employment

c.increase employment

d.raise the equilibrium wage rate

e.lower the equilibrium wage rate

 

 

 

 

105.              Jewelry workers and maintenance workers both get paid $6 an hour. Their supply curves
                            are identical. The demand curve for jewelry workers is more elastic than the demand
                            curve for maintenance workers. An increase in the minimum wage to $8.25 an hour will
                            create

a.greater unemployment among jewelry workers than maintenance workers

b.greater unemployment among maintenance workers than jewelry workers

c.a shortage of jobs among maintenance workers

d.a shortage of jobs among jewelry workers

e.a wage differential between the two sets of workers

106.              If the marginal physical product of labor increases with the addition of new workers, it’s
                            because

a.labor specialization raises labor productivity

b.the new workers are hired at lower wage rates

c.the law of diminishing returns applies to new workers

d.the supply curve of labor is upward sloping

e.of the low productivity of capital

107.              The marginal physical product of labor is not

a.the change in output that results from employing an additional worker

b.the average productivity of each worker employed

c.the marginal contribution to output of each additional worker

d.a measure of the contribution of an additional worker to output

e.usually increasing at an increasing rate for the first units of labor used in production

108.              The law of diminishing returns to labor implies that

a.capital is more productive than labor

b.workers become less efficient once they have a secure job

c.output increases at a decreasing rate with the employment of new workers

d.employers pay workers a wage rate that is less than the workers’ MRP

e.capital is less productive than labor

109.              The marginal revenue product curve is the

a.same as the supply of labor curve

b.price of the good in a competitive market

c.marginal physical product curve multiplied by the price of the good

d.change in the firm’s output generated by the employment of an additional worker

e.change in total cost that results from employing an additional worker

110.              The marginal cost of labor is not

a.change in TLC/change in L

b.equal to the marginal revenue product of labor when the employer completes the
hiring process

c.the change in total labor cost that results from employing an additional worker

d.equal to the wage rate in a perfectly competitive market that is in equilibrium

e.the marginal contribution of an additional worker to firm’s revenues

 

Dec 12 2019 View more View Less

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