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Author Question: Suppose the wage rate in the labor market is $15 and the productivity of workers increases, which of ... (Read 128 times)

crobinson2013

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Question 1

Suppose the wage rate in the labor market is $8 and more people entered the labor force, which of the following statements is correct?


◦ If wages are flexible, then wages will increase.
◦ If wages are sticky, the unemployment rate increases.
◦ If wages are sticky, the unemployment rate stays the same.
◦ If wages are flexible, the unemployment rate increases.

Question 2

Suppose the wage rate in the labor market is $15 and the productivity of workers increases, which of the following statements is 
incorrect?


◦ The labor demand curve shifts to the right.
◦ If wages are flexible, there will be an increase in wages.
◦ If wages are sticky, there will be a shortage in the labor market.
◦ If wages are sticky, there will be a surplus in the labor market.


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Marked as best answer by crobinson2013 on Apr 19, 2019

okolip

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crobinson2013

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Reply 2 on: Apr 19, 2019
Wow, this really help


bblaney

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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