ECON 2301 Week 2 Quiz

ECON 2301 Week 2 Quiz | Assignment Help | Central Texas College

Review Test Submission: Quiz 5

Question 1

Which of the following is an example of an efficiency wage?                        

Question 2

Daniel goes on vacation for four weeks.  When he returns the company puts him on layoff for four weeks during which he waits to be recalled.  In which weeks is Daniel counted as unemployed, if any?                                                                       

Question 3

Figure 28-3                           

Refer to Figure 28-3. If the government imposes a minimum wage of $4, how many workers will be unemployed?

Question 4

Figure 28-3                           

Refer to Figure 28-3. At the equilibrium wage, how many workers are unemployed?

Question 5

More generous unemployment insurance would                                   

Question 6

Michael decides to hire some additional workers for his roofing company. The equilibrium wage is $17 per hour. Efficiency wage theory suggests that it is reasonable for Michael to offer                                  

Question 7

Meredith is looking for work as a computer programmer. Although her prospects are good, she has not yet taken a job. Julie is looking for work in a steel mill. Every time she shows up for an interview, there are more people looking for work than there are openings. Someone waiting in line with her tells her it has been that way for a long time.                               

Question 8

The effects of unionization on wages in the sectors of the economy that are unionized causes the supply of labor in other sectors of the economy to                    

Question 9

Figure 28-3                           

Refer to Figure 28-3. If the government imposes a minimum wage of $8, then how many workers will be employed?

Question 10

Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions