MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) All of the following government programs are types of income maintenance programs except: A) wage subsidy.
B) social assistance.
C) negative income tax schemes. D) unemployment insurance.
E...
,SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
1) There are no questions for Chapter 1.
Answer:
1
,Answer Key
Testname: UNTITLED68
1)
2
, MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) Consider figure 2.98 in the textbook. Given a wage increase from W0 to W1, the distance between I'
and I1 represents:
A) The equilibrium choice for leisure
B) The income effect
C) The equilibrium choice for hours worked
D) The substitution effect
E) The net effect of both the substitution effect and the income effect
Answer: B
2) Empirical literature on labour supply patterns for married women tends to find all of the following,
except:
A) The higher the husband's income, the higher the labour force participation rate.
B) Women with children have lower rates of labour force participation.
C) The higher the education level, the higher the labour force participation rate.
D) Labour market participation rate for married women was highest in the 35-44 age group.
E) Participation rate for all women is around 76 percent.
Answer: A
3) Which of the following statements concerning the elasticity of labour supply is false?
A) The overall labour supply for both sexes is likely to be downward sloping.
B) The overall labour supply for both sexes is likely to be upward sloping
C) It is generally higher for women than for men.
D) The elasticity of labour supply with respect to income is negative.
E) The compensated elasticity (reflecting the substitution effect) tends to be higher in magnitude
than the uncompensated, gross elasticity.
Answer: A
4) Which of the following statements is false?
A) In periods of low unemployment, discouraged workers tend to re-enter the labour force.
B) Discouraged workers contribute to the phenomenon of hidden unemployment.
C) In periods of high unemployment, discouraged workers tend to withdraw from the labour force.
D) In periods of high unemployment, added workers may increase labour market participation
rate.
E) In periods of high unemployment, added workers (particularly married women) tend to enter
the labour force.
Answer: D
1
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