Filters
Question type
Study Flashcards

The demand for a productive resource is derived from the demand for the final good or service.

A) True
B) False

Correct Answer

verifed

verified

Which of the following countries shows the greatest degree of income inequality?


A) Sweden
B) Canada
C) Brazil
D) United States of America

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

Several Members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. FIGURE 11-1 Several Members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. FIGURE 11-1 -Refer to Figure 11-1. If the government were to impose a wage rate of WA on the computer software programming industry, what would the result in the industry be? A) The imposed wage would have no effect on the market for computer programmers. B) A quantity of Q4 software programmers would be demanded in the marketplace. C) A shortage of software programmers would result. D) There would be pressure from market forces for the wage to fall. -Refer to Figure 11-1. If the government were to impose a wage rate of WA on the computer software programming industry, what would the result in the industry be?


A) The imposed wage would have no effect on the market for computer programmers.
B) A quantity of Q4 software programmers would be demanded in the marketplace.
C) A shortage of software programmers would result.
D) There would be pressure from market forces for the wage to fall.

E) A) and D)
F) B) and C)

Correct Answer

verifed

verified

Which of the following will NOT result in a leftward shift of the market demand curve for labour?


A) a decrease in labour productivity
B) an increase in the wage rate
C) a decrease in the firm's product price
D) a decrease in demand for the firm's product

E) B) and C)
F) A) and B)

Correct Answer

verifed

verified

Which of the following best illustrates the concept of derived demand?


A) An increase in the price of gasoline leads to an increase in the demand for small cars.
B) An increase in the wages of autoworkers leads to an increase in the demand for robots in automobile factories.
C) An auto firm decides to supply more minivans when there is a decrease in the demand for station wagons.
D) An automobile firm faces an increase in the demand for cars it supplies to the market, which leads to an increase in the demand for autoworkers.

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

Which of the following would cause the demand for carpenters to increase?


A) an increase in the demand for housing
B) a decrease in immigration
C) a decrease in the productivity of carpenters
D) an increase in the price of lumber

E) A) and B)
F) None of the above

Correct Answer

verifed

verified

What does the Canadian poverty rate measure?


A) the number of people whose annual household income is less than $17 568
B) the number of people whose annual household income is less than $21 728
C) the percentage of government expenditures allocated to antipoverty programs
D) the percentage of people whose income falls below an identified income standard

E) C) and D)
F) All of the above

Correct Answer

verifed

verified

If the demand for software engineers increases slower than does supply, what will the effect on the wages of software engineers be?


A) They will fall.
B) They will remain constant.
C) They will rise.
D) They will first rise and then eventually will fall.

E) All of the above
F) A) and D)

Correct Answer

verifed

verified

Several Members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. FIGURE 11-1 Several Members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. FIGURE 11-1 -Refer to Figure 11-1. If the wage law were NOT enacted, what would the prevailing wage rate and quantity of labour in the marketplace for K-12 teachers at equilibrium be? A) WB and Q1, respectively B) WA and Q2, respectively C) WA and Q3, respectively D) WB and Q2, respectively -Refer to Figure 11-1. If the wage law were NOT enacted, what would the prevailing wage rate and quantity of labour in the marketplace for K-12 teachers at equilibrium be?


A) WB and Q1, respectively
B) WA and Q2, respectively
C) WA and Q3, respectively
D) WB and Q2, respectively

E) B) and D)
F) B) and C)

Correct Answer

verifed

verified

If a large number of skilled workers retire at about the same time through early retirements or buyouts, what will happen to the wages of skilled workers, other things being equal?

Correct Answer

verifed

verified

The supply of skilled workers would shif...

View Answer

Differences in age among a population over time can lead to differences in the distribution of income.

A) True
B) False

Correct Answer

verifed

verified

As of 2010, what percentage of Canadian workers belongs to a union?


A) about 16 percent
B) about 30 percent
C) about 47 percent
D) more than 80 percent

E) A) and C)
F) A) and B)

Correct Answer

verifed

verified

Evidence suggests that share of income has decreased for the middle class from 1951 to 2000. What has occurred to the share of income for higher-income Canadians and lower-income Canadians during this time period?


A) It has remained relatively stable for higher-income Canadians and decreased for lower-income Canadians.
B) It has increased for higher-income Canadians and remained relatively stable for lower-income Canadians
C) It has increased for higher-income Canadians and decreased for lower-income Canadians.
D) It has decreased for higher-income Canadians and increased for lower-income Canadians.

E) B) and C)
F) B) and D)

Correct Answer

verifed

verified

Mr. Calhoun owned land on which cranberries could be grown, but which he had been unable to rent for years. Suddenly he was getting offers from cranberry farmers to lease his land. Which of the following best explains this change in circumstances?


A) The price of cranberries decreased.
B) Property taxes on the land increased.
C) The price of cranberries increased.
D) The productivity of the land increased.

E) C) and D)
F) A) and B)

Correct Answer

verifed

verified

What income groups are most likely to benefit from provincial and federal subsidies to higher education? Why?

Correct Answer

verifed

verified

Economists have argued that government-s...

View Answer

Police officers earn higher wages because of the dangers associated with their profession.

A) True
B) False

Correct Answer

verifed

verified

A monopsony generally results in a greater number of workers being hired at a higher wage rate.

A) True
B) False

Correct Answer

verifed

verified

Many economists conclude that in-kind income programs have served to reduce levels of inequality significantly from the levels suggested by aggregate income statistics.

A) True
B) False

Correct Answer

verifed

verified

Poverty can be defined in two ways: using an absolute concept of poverty or a relative concept of poverty.

A) True
B) False

Correct Answer

verifed

verified

Which of the following industries has the lowest rate of unionization in Canada?


A) public administration
B) agriculture
C) health care and social services
D) education

E) All of the above
F) A) and C)

Correct Answer

verifed

verified

Showing 41 - 60 of 188

Related Exams

Exam 1

The Role and Method of Economics

288 Questions

Exam 2

Scarcity, Trade-Offs, and Production Possibilities

166 Questions

Exam 3

Supply and Demand

122 Questions

Exam 4

Bringing Supply and Demand Together

150 Questions

Exam 5

Elasticity

116 Questions

Exam 6

Market Efficiency and Market Failure

151 Questions

Exam 7

Production and Costs

159 Questions

Exam 8

Perfect Competition

155 Questions

Exam 9

Monopoly

155 Questions

Exam 10

Monopolistic Competition and Oligopoly

99 Questions

Exam 12

The Environment

49 Questions

Show Answer