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GK
GK Set-1
Economics
Macro Economics
31

Macro Economics MCQ (GK Set-1) with Answers

31) The individual labour supply curve

shifts downwards if workers’ preference for leisure increases

shifts to the left if there is technological progress in production.

shifts to the right if there is technological progress in production.

is not affected by technological progress in production

Answer is:

is not affected by technological progress in production

Macro Economics MCQ (GK Set-1) with Answers

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Related 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

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

Macro Economics MCQ (GK Set-1) with Answers

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31) The individual labour supply curve

is not affected by technological progress in production

Macro Economics MCQ (GK Set-1) with Answers

Related 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 decrease and involuntary unemployment will increase

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

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) __.