Multiple Choice
The condition for the equilibrium level of efficiency wage is that:
A) The job vacancy rate is equal to the unemployment rate.
B) The efficiency of the labour force is maximized.
C) The rate of change in the aggregate wage is stabilized when the actual rate of unemployment is equal to the natural rate.
D) The elasticity of the workers' output with respect to the wage is equal to one.
E) The marginal benefit of job search is equal to the marginal cost of job search.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: The "stopping rule" is associated with which
Q5: According to the theory of job search,
Q6: All of the following are considered to
Q7: In the efficiency wage model of the
Q8: The most important way in which unemployment
Q10: In the insider-outsider theory, what is NOT
Q11: Those who are jobless and out of
Q12: The persistence of high levels of unemployment,
Q13: The theory of unemployment "hysteresis" is associated
Q14: Structural unemployment occurs because:<br>A) when workers and