首页 | 学习中心 | 注册 登录
返回列表 发帖
1215

UID
152243 
帖子
3978 
主题
858 
注册时间
2009-12-15 
最后登录
2011-4-15 
1# 跳转到 » 倒序看帖
打印
tT
发表于 2011-3-9 11:13 | 只看该作者

Markets for Factors of Production-LOS c 习题精选

2011, including, capital, discuss, factors
Session 5: Economics: Market Structure and Macroeconomic Analysis
Reading 21: Markets for Factors of Production

LOS c: Describe the factors determining the supply of labor, including the substitution and income effects, and discuss the factors related to changes in the supply of labor, including capital accumulation.

 

 

The idea that workers will consume less leisure when the wage rate is increased is called the:

A)
 income effect.
B)
 substitution effect.
C)
 incentive effect.

 

The substitution effect results in less consumption of leisure (more hours of labor supplied) when the wage rate is increased.

收藏 分享

1215

UID
152243 
帖子
3978 
主题
858 
注册时间
2009-12-15 
最后登录
2011-4-15 
2#
发表于 2011-3-9 11:13 | 只看该作者

Which of the following factors is least likely to affect the supply of labor?

A)
 The accumulation of capital.
B)
 Wages offered.
C)
 The aggregate requirement for labor.

Wages, the size of the adult population (i.e., the available labor force), and the accumulation of capital are all factors that affect the supply of labor. The aggregate requirement for labor is a demand issue that will ultimately help to determine the equilibrium level of wages and quantities offered.

TOP

1215

UID
152243 
帖子
3978 
主题
858 
注册时间
2009-12-15 
最后登录
2011-4-15 
3#
发表于 2011-3-9 11:14 | 只看该作者

When workers agree to forego leisure to undertake labor and receive wages, the term that is applied in labor supply economics is the:

A)
 substitution effect.
B)
 income effect.
C)
 marginal rate of substitution.

In labor supply economics, the term applied to the decision by workers to forego leisure and undertake labor for wages is the substitution effect.

TOP

1215

UID
152243 
帖子
3978 
主题
858 
注册时间
2009-12-15 
最后登录
2011-4-15 
4#
发表于 2011-3-9 11:14 | 只看该作者

When smaller amounts of additional labor are supplied in response to increases in the wages offered, this is known as the:

A)
 substitution effect.
B)
 marginal rate of substitution.
C)
 income effect.

The income effect results in smaller additions to the labor supply as wages increase. Like any good, income received in the form of wages has a decreasing marginal utility. When the point is reached at which the utility received is equal to the marginal cost of leisure foregone, the maximum amount of labor that will be offered is reached.

TOP

luqian55

UID
118990 
帖子
774 
主题
1 
注册时间
2008-12-31 
最后登录
2012-9-5 
5#
发表于 2011-9-29 17:22 | 只看该作者
thanks a lot

TOP

返回列表