An increase in the matching rate: Increases the time it takes to fill a vacancy. Reduces the incentives for firms to create new vacancies. Increases the expected present value of the surplus generated when the vacancy is filled in the future. Increases the surplus of a worker-job match.
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- A meeting of representatives for labor and management to negotiate contracts is calledSay the average increase in pay for non-union workers in 2011 is 2% across the U.S. If a workers' union successfully negotiates a 3-year collective agreement that provides a 4.5% raise in 2011, and a 4.3% raise in 2013, then the for-profit employer will typically Question 42 options: begin to fire its older union workers. replace union workers with non-union workers. curtail expansion of labor as a trade-off. replace union workers with foreign workers.Jobs where the product or service is "non-essential" yet is in high demand with a limited pool of exceptionally talented workers are likely to have higher wages than jobs where the product or service is "essential." True False
- The labor supply curve is upward sloping because workers are willing to work more hours at higher wages. workers will work as many hours as possible no matter the wage. employers will reduce the hours they employ as the wage rises. employers will hire a specific quantity of labor no matter the wage.Which of the following is not true? Multiple Choice The demand for labor for a firm selling in a purely competitive product market is less elastic than the demand for labor for the firm selling under imperfect competition in the product market. All of the other answers are true. The supply of labor for the firm hiring under purely competitive conditions is more elastic than the supply of labor for the firm hiring under imperfectly competitive conditions. The long-run demand curve for labor is more elastic than the short-run demand curve for labor. The market demand curve for labor is more inelastic than the firm's demand curve for labor.The labor supply curve is upward sloping because Question 3 options: workers are willing to work more hours at higher wages. workers will work as many hours as possible no matter the wage. employers will reduce the hours they employ as the wage rises. employers will hire a specific quantity of labor no matter the wage.
- Which of the following is likely to increase the supply of labour? a decrease in fringe benefits a relaxation of restrictions on immigration an increase in the value placed on leisure a decrease in the populationWhen hiring additional workers, a firm operating in a perfectly competitive labor market will have to offer higher wages to hire additional workers, and the old workers will also receive the new, higher wage. be able to hire additional workers at lower wages because the new workers have been unemployed. be able to hire additional workers without offering higher wages. have to offer higher wages to hire additional workers, but the old workers do not get the higher wage.One of these four answers could cause the demand curve for labor to shift to the right. Which one? Group of answer choices a decrease in the firm's product price an increase in demand for the firm's product a decrease in labor productivity an increase in the wage rate
- A competitive employer will hire inputs up to the point where the Multiple Choice marginal product of the input reaches a maximum. price of the input equals the price of the output. price of the input equals the marginal product of the input. price of the input equals the marginal revenue product of the inputWhich of the following would improve a worker’s marginal product? Group of answer choices an increase in the minimum wage investment in human capital policies requiring health insurance higher tariffs on exported goods If a union successfully restricts the supply of labor to the firm but the union has no effect on the demand for labor, then the Group of answer choices wage increases and employment decreases. wage increases and there is no change in employment. wage increases and there is an unambiguous effect on employment. wage increases and employment increases. Please answer to these two questionsQuestion 26 of 30 Consider the labor market for electricians. The demand curve is downward sloping and the supply curve is upward sloping. In this market, however, there is a strong labor union. Assume that the electrician's union is able to negotiate a new contract that substantially raises their member's wages. Select the correct statement. Fewer people want to work as electricians as the union increases wage. Firms hire the same number of electricians at both wages. The wage increase is unambiguously beneficial for all the electricians working before the wage increase. O A consequer of the union negotiating a higher wage is fewer jobs for electricians. 8:25 PM 46°F 12/15/2021 a