Labor Economics Quiz Test your knowledge on labor economics with this 10-question quiz See if you can answer all 10 questions correctly remus2009 published 24 days ago0 responses 0 « Previous Next » Questions in vertical order 1/10 What is the term used to describe the amount of labor a worker is willing and able to supply at a particular wage rate? Labor demand Labor force participation rate Labor mobility Labor supply 2/10 Which of the following is NOT a type of unemployment? Structural unemployment Frictional unemployment Cyclical unemployment Entrepreneurial unemployment 3/10 The minimum wage is an example of which type of government intervention in the labor market? Subsidies Price controls Trade barriers Regulation 4/10 Which of the following is an example of a labor productivity improvement? Increased unemployment rate Decreased average wages Increased labor force participation rate Introduction of new technology 5/10 What term refers to the process of workers moving from one job to another? Labor market equilibrium Labor unionization Labor force participation Job turnover 6/10 Which of the following is an example of a non-wage benefit provided to employees? Overtime pay Minimum wage laws Collective bargaining Health insurance 7/10 What theory suggests that workers' wages tend to equal their marginal productivity? Labor market segmentation theory Dual labor market theory Efficiency wage theory Neoclassical theory of wage determination 8/10 Which of the following is TRUE regarding the concept of 'reservation wage'? It is the same as the minimum wage It is determined by labor unions It is the wage at which a worker is most productive It is the lowest wage rate at which a worker is willing to accept a job 9/10 Which of the following best describes the 'efficiency wage theory'? A theory that suggests minimum wage laws improve efficiency in the labor market A theory that argues higher wages can increase worker productivity A theory that explains the impact of technological advancements on labor markets A theory that states paying above-market wages can increase worker productivity 10/10 The unemployment rate is calculated as the number of unemployed individuals divided by which other measure? Labor force participation rate Total population Gross domestic product (GDP) Labor force
