* not completed

. Real earnings increase if:

Prices rise less than money earnings correct incorrect

Prices rise more than money earnings correct incorrect

Prices rise the same as money earnings correct incorrect

Prices fall less than money earnings fall correct incorrect

* not completed

. The demand for labour is:

A depressed demand correct incorrect

A directed demand correct incorrect

A delapidated demand correct incorrect

A derived demand correct incorrect

* not completed

. Labour productivity is measured by:

Total output/ number of employees correct incorrect

Marginal output/ number of employees correct incorrect

Average output/ number of employees correct incorrect

Fixed output/ number of employees correct incorrect

* not completed

. The reservation wage is:

The maximum amount an employee would need to accept a job correct incorrect

The minimum amount an employee would need to accept a job correct incorrect

The total rewards an employee receives correct incorrect

The amount it would take to get an employee who has left to return to the business correct incorrect

* not completed

. An outward shift in supply of labour is likely to lead to:

A higher equilibrium wage and higher quantity of labour correct incorrect

A higher equilibrium wage and lower quantity of labour correct incorrect

A lower equilibrium wage and higher quantity of labour correct incorrect

A lower equilibrium wage and lower quantity of labour correct incorrect

* not completed

. An inward shift in supply of labour is likely to lead to:

A higher equilibrium wage and higher quantity of labour correct incorrect

A higher equilibrium wage and lower quantity of labour correct incorrect

A lower equilibrium wage and higher quantity of labour correct incorrect

A lower equilibrium wage and lower quantity of labour correct incorrect

* not completed

. An outward shift in demand for labour is likely to lead to:

A higher equilibrium wage and higher quantity of labour correct incorrect

A higher equilibrium wage and lower quantity of labour correct incorrect

A lower equilibrium wage and higher quantity of labour correct incorrect

A lower equilibrium wage and lower quantity of labour correct incorrect

* not completed

. An inward shift in demand of labour is likely to lead to:

A higher equilibrium wage and higher quantity of labour correct incorrect

A higher equilibrium wage and lower quantity of labour correct incorrect

A lower equilibrium wage and higher quantity of labour correct incorrect

A lower equilibrium wage and lower quantity of labour correct incorrect

* not completed

. In theory an increase in the national minimum wage should:

Increase the quantity demanded of labour; decrease the quantity supplied correct incorrect

Increase the quantity demanded of labour; increase the quantity supplied correct incorrect

Decrease the quantity demanded of labour; decrease the quantity supplied correct incorrect

Decrease the quantity demanded of labour; increase the quantity supplied correct incorrect

* not completed

. If the national minimum wage is set below the market equilibrium rate this is likely to lead to:

Excess demand correct incorrect

Excess supply correct incorrect

No effect correct incorrect

Excess equilibrium correct incorrect

* not completed

. Geographical immobility of labour:

Increases the supply of labour correct incorrect

Decreases the supply of labour correct incorrect

Increases the demand of labour correct incorrect

Decreases the demand of labour correct incorrect

* not completed

. A surplus in the labour market means:

The quantity demanded of labour is greater than the quantity supplied correct incorrect

The quantity demanded of labour is less than the quantity supplied correct incorrect

The quantity demanded of labour is equal to the quantity supplied correct incorrect

The quantity demanded is of labour is less than the quantity demanded of the final product correct incorrect

* not completed

. A shortage in the labour market means:

The quantity demanded of labour is greater than the quantity supplied correct incorrect

The quantity demanded of labour is less than the quantity supplied correct incorrect

The quantity demanded of labour is equal to the quantity supplied correct incorrect

The quantity demanded is of labour is less than the quantity demanded of the final product correct incorrect

* not completed

. Equilibrium in the labour market means:

The quantity demanded of labour is greater than the quantity supplied correct incorrect

The quantity demanded of labour is less than the quantity supplied correct incorrect

The quantity demanded of labour is equal to the quantity supplied correct incorrect

The quantity demanded is of labour is less than the quantity demanded of the final product correct incorrect

* not completed

. A monopsony occurs when there is:

A single seller correct incorrect

A single price in a market correct incorrect

A single product sold correct incorrect

A single buyer correct incorrect