Answer to Question #178653 in Microeconomics for James

Question

QUESTION 6

This is a common way to measure the quantity of labor.

1. The number of potatoes pealed.
2. The number of hours worked.
3. The wage rate.
4. The minimum wage.
5. All of the above.

QUESTION 7

As the salary for nurses increases:

1. The number of nurses demanded will fall.
2. The number of nurses hired will decline.
3. Some nurses will be laid off.
4. The quantity of nurses supplied will increase.
5. All of the above.

QUESTION 8

This shows the amount of labor employers wish to hire at any given salary or wage rate.

1. The demand curve for labor.
2. The supply curve for labor.
3. The equilibrium wage.
4. The minimum wage.
5. The equilibrium quantity.

QUESTION 9

Increased levels of productivity within the workforce will cause:

1. Shortages.
2. Surpluses.
3. An increase in the demand for labor.
4. A decrease in the demand for labor.
5. A decrease in the supply of labor.

Answer 1

QUESTION 6: (2) The number of hours worked.

QUESTION 7: (1) The number of nurses demanded will fall, and (2) The number of nurses hired will decline.

QUESTION 8: (3)The equilibrium wage.

QUESTION 9: (2)Surpluses.