Question 1

A minimum wage mandated by the government will result in an increase in:

Accepted Answer

A) the supply of workers to the uncovered sector. 
B) the wage rate in the uncovered sector. 
C) employment opportunities in the covered sector. 
D) the demand for workers in the covered sector. 
A) the supply of workers to the uncovered sector. 
B) the wage rate in the uncovered sector. 
C) employment opportunities in the covered sector. 
D) the demand for workers in the covered sector.

Question 2

Which of the following categories of workers are directly affected by the minimum wage law?

Accepted Answer

A) Unskilled workers 
B) Learned professionals 
C) Businessmen 
D) Part-time workers 
A) Unskilled workers 
B) Learned professionals 
C) Businessmen 
D) Part-time workers

Question 3

When the supply curve of labor is perfectly inelastic and a social security tax is collected partly from employers and partly from employees,the burden of the tax is:

Accepted Answer

A) entirely borne by the employees. 
B) entirely borne by the employers. 
C) borne by both the employers and the employees. 
D) borne by the employers only if labor demand is elastic. 
A) entirely borne by the employees. 
B) entirely borne by the employers. 
C) borne by both the employers and the employees. 
D) borne by the employers only if labor demand is elastic.

A minimum wage mandated by the government will result in an increase in:

Which of the following categories of workers are directly affected by the minimum wage law?

When the supply curve of labor is perfectly inelastic and a social security tax is collected partly from employers and partly from employees,the burden of the tax is:

An Introduction to Microeconomics

Supply and Demand

The Theory of Consumer Choice

Individual and Market Demand

Using Consumer Choice Theory

Exchange, Efficiency, and Prices

Production

The Cost of Production

Profit Maximization in Perfectly Competitive Markets

Using the Competitive Model

Monopoly

Product Pricing With Monopoly Power

Monopolistic Competition and Oligopoly

Game Theory and the Economics of Information

Using Noncompetitive Market Models

Employment and Pricing of Inputs

Wages, Rent, Interest, and Profit

General Equilibrium Analysis and Economic Efficiency

Public Goods and Externalities

Filters

Exam 18: Using Input Market Analysis

A minimum wage mandated by the government will result in an increase in:

Which of the following categories of workers are directly affected by the minimum wage law?

When the supply curve of labor is perfectly inelastic and a social security tax is collected partly from employers and partly from employees,the burden of the tax is:

An Introduction to Microeconomics

Supply and Demand

The Theory of Consumer Choice

Individual and Market Demand

Using Consumer Choice Theory

Exchange, Efficiency, and Prices

Production

The Cost of Production

Profit Maximization in Perfectly Competitive Markets

Using the Competitive Model

Monopoly

Product Pricing With Monopoly Power

Monopolistic Competition and Oligopoly

Game Theory and the Economics of Information

Using Noncompetitive Market Models

Employment and Pricing of Inputs

Wages, Rent, Interest, and Profit

General Equilibrium Analysis and Economic Efficiency

Public Goods and Externalities

Filters