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GK Set-1
Economics
Macro Economics
32

Macro Economics MCQ (GK Set-1) with Answers

32) Suppose that a new union leadership is able to force an increase in the real wage during collective bargaining. As a consequence

employment will increase and involuntary unemployment will decrease

both employment and involuntary unemployment will decrease

employment will decrease with no change in involuntary unemployment

employment will decrease and involuntary unemployment will increase

Answer is:

employment will decrease and involuntary unemployment will increase

Macro Economics MCQ (GK Set-1) with Answers

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Related Macro Economics MCQ (GK Set-1) with Answers

33) Assume there are only two possible states for an individual: either one is employed or one is unemployed (i.e. there is no "out of the labour force" state). Further assume that in an economy the separation rate for employed persons is 1% per month and the

exactly 1%

approximately 5%

approximately 9%

exactly 10%

Answer is:

approximately 9%

34) In the simple model of labour supply represented in the figure above, the real wage is equal to (A) __ and the quantity of labour supplied would be equal to (B)

A: BC/OC B: OT

A: OB/OT B: DT

A: XD B: DT

A: OB/OT B: OT

Answer is:

A: OB/OT B: DT

35) The figure above shows a labour market in which a union negotiates the real wage rate with employers. Union-voluntary unemployment is equal to (A) _; Individual-involuntary unemployment is equal to (B) __.

A: DF B: DF

A: DE B: EF

A: EF B: DE

A: DF B: zero

Answer is:

A: DF B: DF

36) Which of the following policies would NOT be expected to reduce the equilibrium unemployment rate?

Reducing the duration of full employment insurance benefits

Increasing statutory minimum wages

Providing relocation subsidies to unemployed workers

None of the above policies would work to reduce frictional unemployment

Answer is:

Increasing statutory minimum wages

Macro Economics MCQ (GK Set-1) with Answers

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32) Suppose that a new union leadership is able to force an increase in the real wage during collective bargaining. As a consequence

employment will decrease and involuntary unemployment will increase

Macro Economics MCQ (GK Set-1) with Answers

Related Macro Economics MCQ (GK Set-1) with Answers

33) Assume there are only two possible states for an individual: either one is employed or one is unemployed (i.e. there is no "out of the labour force" state). Further assume that in an economy the separation rate for employed persons is 1% per month and the

approximately 9%

34) In the simple model of labour supply represented in the figure above, the real wage is equal to (A) ________ and the quantity of labour supplied would be equal to (B) ______

A: OB/OT B: DT

35) The figure above shows a labour market in which a union negotiates the real wage rate with employers. Union-voluntary unemployment is equal to (A) ___; Individual-involuntary unemployment is equal to (B) ____.

A: DF B: DF

36) Which of the following policies would NOT be expected to reduce the equilibrium unemployment rate?

Increasing statutory minimum wages

Macro Economics MCQ (GK Set-1) with Answers

34) In the simple model of labour supply represented in the figure above, the real wage is equal to (A) __ and the quantity of labour supplied would be equal to (B)

35) The figure above shows a labour market in which a union negotiates the real wage rate with employers. Union-voluntary unemployment is equal to (A) _; Individual-involuntary unemployment is equal to (B) __.