1.Other things being equal, an increase in the labor force resulting from increa

Question

1.Other things being equal, an increase in the labor force resulting from increased immigration tends to:

a. decrease the demand for labor

b. decrease wages

c. increase wages

d. have no effect on wages

e. increase the demand for labor

2. If exports and imports both rose, but exports rose more than imports,

a. AD would be unaffected

b. AD would rise

c. AD could either increase or decrease

d. AD would fall

3. Improvements in the productivity of labor will tend to:

a. increase the supply of labor

b. increase the demand for labor

c. decrease the supply of labor

d. decreaes the demand for labr

e. do both a. and b.

4. The faster the rate of techonological progress:

a. the slower the rate of economic growth

b. the greater the rate of economic growth

c. the greater the rate of population growth

d. the slower the rate of growth of the money supply

5. In the long run, a decrease in the price level

a. leaves output prices unchanged relative to input prices

b. increases the profit margin of many producers

c. decreases RGDP supplied

d. does a. and c.

e. does none of the above

6.

Explanation / Answer

1) An increase in the labour force will: (B) Decrease wages. As it would lead to unemployment and people are ready to work at a lower pay rather than be unemployed.

2) If exports rise more than imports then: (B) AD will rise. Net exports (Exports

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