Labour Market

Labour Market

11th Grade

30 Qs

quiz-placeholder

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Labour Market

Labour Market

Assessment

Quiz

Other

11th Grade

Practice Problem

Hard

Created by

IRSHAD UL HAQ

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30 questions

Show all answers

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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