6. Average nominal wages are higher in large cities than small cities. This is consistent with A. Large cities are more productive. B. Large cities are more skilled. C. Wages aside, large cities are less attractive places to live. D. All of the above
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6. Average nominal wages are higher in large cities than small cities. This is consistent with
A. Large cities are more productive.
B. Large cities are more skilled.
C. Wages aside, large cities are less attractive places to live.
D. All of the above.
The markets are the place where the buyers, and the sellers of various goods, services, and other products tend to meet and interact with each other. The markets are made up of two sides, the demand, and the supply. The firms, businesses, and producers tend to make up the supply side where they supply the products produced by them.
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- 13. Unemployment due to mechanization of agriculture is A. Seasonal B. O Structural C. O Industrial D. O PersonalSuppose the unemployment rate is 4.8 percent, the labour force participation rate is 62 percent, and the working age population is 108 million. How many people are employed? a. about 52 million cross out O b. about 63.74 million cross out O c. about 67 million cross out O d. about 103 million cross outOnly typed answer and please don't use chatgpt How does the market for inputs like labor differ from the market for goods and services? (Check all that apply.) Part 2 A. Firms are sellers in the market for goods and services, while individuals are sellers in the market for inputs. B. The demand for inputs is derived from the demand for final goods and services. C. Firms are buyers in the market for inputs, while individuals are buyers in the market for goods and services. D. The market for inputs resolves shortages and surpluses through government-supervised negotiations.
- 6. What Causes Changes in Unemployment over the Short Run and Long Run?How does an increase in labor-productivity increase income? a. An increase in productivity, increases the marginal product of labor which increases the demand for labor. As demand for labor increases, the wage rate increases. b. An increase in productivity, decreases the marginal product of labor which increases the demand for labor. As demand for labor increases, the wage rate increases. c. An increase in productivity, increases the marginal product of labor which decreases the demand for labor. As demand for labor decreases, the wage rate increases. d. An increase in productivity, increases the marginal product of labor which decreases the demand for labor. As demand for labor decreases, the wage rate decreases.QUESTION 13 Suppose that the amount of capital increases. What will happen to the wage? a. Increase b. Decrease c. Remain Constant d. It depends on the type of capital
- Discouraged workers are officially a. in the labor force. O b. unemployed. C. not in the labor force. d. employed.6. The Widget Company has the following production function. Number of Workers Number of Cases Produced 0. 1 9. 17 3. 24 4 30 5. 35 If widgets sell for $6 each and the wage rate is $33, how many workers will the company hire? a. b. 1 C. 21 d. 4Suppose some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were employed? Select one: a. 28.5 million O b. 1.5 million O c. 47.5 million O d. 30 million Next page E page e to search
- 6. "You mi ght as well say that the unemployment rate would be zero if everyone just quit looking for work." Explain what the author means by this.Why does the labor force participation rate of men decrease? The labor force participation rate of men decreases in part because _______. A. fewer men have a college degree B. families are looking more toward women to be the bread winner C. men are taking more responsibility for chores in the home D. some older men retire earlier and more younger men remain in schoolA dozen eggs cost $0.88 in January 1980 and $2.11in January 2015. The average wage for productionworkers was $7.58 per hour in January 1980 and$19.64 in January 2015.a. By what percentage did the price of eggs rise?b. By what percentage did the wage rise?c. In each year, how many minutes did a workerhave to work to earn enough to buy adozen eggs?d. Did workers’ purchasing power in terms of eggsrise or fall?