
Labour Market
Quiz
•
Other
•
11th Grade
•
Practice Problem
•
Hard
IRSHAD UL HAQ
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What determines the equilibrium wage rate in a free market?
A) Government intervention
B) Interaction of demand and supply of labour
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Derived demand for labour means:
Demand depends on workers’ preferences
Demand driven by demand for goods/services
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Labour supply primarily comes from:
Firms hiring workers
Workers offering their labour
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A labour market shortage exists when:
Wage is above equilibrium
Wage is below equilibrium
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Excess labour supply (unemployment) happens if:
Wage is below equilibrium
Wage is above equilibrium
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase in labour demand typically:
Raises wage and employment levels
Raises wage and lowers employment
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A fall in labour supply usually:
Lowers wage
Raises wage and lowers employment
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