. As the wage rate increases, the quantity supplied of labor in a market will: a
ID: 1165923 • Letter: #
Question
. As the wage rate increases, the quantity supplied of labor in a market will: a. invariably increase b. invariably decrease c. first increase and then decrease. d. first decrease and then increase. e. remain constant. . The labor market is in equilibrium when: a. the demand curve lies above the supply curve. b. both demand and supply curves are positively sloped. c. both demand d. the demand curve intersects the supply curve e. the demand curve is negatively sloped but the supply curve is positively sloped. and supply curves are negatively sloped. . The term compensating wage differential refers to: a. the bargaining capacity of a monoposonist in the labor market. b. wage differences that arise from differences in the risk involved in different jobs c. whether or not a firm offers a 401K plan to all its employees or just some employees. d. e. wage differences that arise from difference in productivity of the workers in a firm. the negotiating powers of the trade union. 4. Which of the following refers to human capital? a. Money spent by business to acquire labor b. The acquired skill and productivity of workers c. The plant and equipment used with labor d. Money spent on education. c. Money that workers save 5. Investment in human capital implies: a. investment on machines, technological development, and equipments b. expenses on education. c. expenses on paying interest for hiring real capital. d. expenses related to the purchase of land e. profit of the entrepreneurs.Explanation / Answer
1-Answer is A
Because the wage rate will increase so the quantity of labor in market will invariably increase
2-Answer is D
Because the labor market is in equilibrium where demand curve intersect the supply curve.
3-Answer is B
Because this term refers to the wage difference that arise from difference in the risk involved in different jobs.
4-Answer is D
money spent on education
5-Answer is A
Investment on machine technological development and equipment.
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