Questions about Economics Question 1 Which response best describes how an increa

Question

Questions about Economics

Question 1 Which response best describes how an increase in immigration affects the labour market in the short run? Oa. No change in labour supply; the labour demand curve shifts out Ob. Labour supply curve shifts in; the labour demand curve shifts in Oc. Labour supply curve shifts out; no change in labour demand Od. No change in labour supply; no change in labour demand e.Labour supply curve shifts out; the labour demand curve shifts in Question 2 Which definition is most accurate? 0 a. Labour force participation rate = labour force / working age population Ob. Labour force participation rate = employed / labour force oc. Labour force participation rate = unemployed / population Od. Labour force participation rate employed / working age population Oe. Labour force participation rate = labour force / population

Explanation / Answer

Immigration leads to increase in labor force and hence labor supply curve will shift to right or out.

Labor force is the proportion of total adult population of a country who is available to work. It includes both employed and unemployed.

Frictional unemployment is temporary and occurs in short run. It occurs when a person is unemployed betwenn job switch.

GDP is market value of goods and services produced in a country in a year

GNP = GDP + Net income from abroad.

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