Author Question: The table below shows the labour demand and labour supply schedules in a competitive labour ... (Read 361 times)

bryantpr01 · **on:** Oct 12, 2022

Question 1

Researchers are trying to identify the causes of rising income inequality in various economies. Important forces that are almost certainly contributing are:
1) globalization
2) rising rates of personal income tax
3) skill-biased technological change
◦ 1 and 3 only
◦ 1 on
◦ 2 and 3 only
◦ 2 only
◦ 1 and 2 only

Question 2

The table below shows the labour demand and labour supply schedules in a competitive labour market.

Wage Rate ($/hour)	Quantity Demanded of Labour (hours/month)	Quantity Supplied of Labour (hours/month)
10	1300	500
12	1000	1000
14	800	1300
15	400	1500
17	200	1800

TABLE 14-1

Refer to Table 14-1. In a competitive labour market that clears, the equilibrium employment level would be
◦ 1300 units.
◦ 500 units.
◦ 1000 units.
◦ 400 units.
◦ 800 units.

heathercab · **Reply #1 on:** Oct 12, 2022

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