Demand for Labour | 79 plays

1.

Multiple Choice

3 mins

1 pt

The demand for labour in this industry has declined from Q2 to Q1. This could be because: (one correct answer)

The price of capital has declined.

The demand for the product that labour produced has declined.

The wage rate increased.

Labour productivity has increased.

2.

Multiple Select

3 mins

1 pt

A shift from D1 to D2 could happen because (two correct answers)

the price of capital has increased.

the price of capital has fallen.

demand for product labour produces has increased.

demand for product labour produces has fallen.

the global economy has entered a recession.

3.

Multiple Choice

30 sec

1 pt

The demand for labour is a 'derived demand', meaning that ...

the demand for labour is dependent on the supply of the inputs in the production process

the demand for labour is completely independent of the demand for the product

the demand for labour is dependent upon the demand for whatever the labour produces

the demand for labour is greater than the demand for the product that the labour makes

4.

Multiple Choice

30 sec

1 pt

If the demand for McDonald's hamburgers rose, which of the following diagrams would display the likely impact on the demand for McDonald's workers

5.

Multiple Choice

30 sec

1 pt

Several factors affect the demand for labour, including all of the following EXCEPT:

The age distribution of the labour market

Availability of substitutes

Productivity of labour

Other employment costs

6.

Multiple Choice

30 sec

1 pt

Demand that arises because there is demand for another good is called ...

Price elastic demand

Excess demand

Demand deficient

Derived demand

7.

Multiple Choice

30 sec

1 pt

Of the four parts of the business cycle, in which part are we most likely to see a rapid increase in business activity, demand and prices very high, and unemployment very low?

Trough

Recovery

Boom

Downturn

8.

Multiple Choice

30 sec

1 pt

How many factors of production are variable in the long run?

0

1

4

5

9.

Fill in the Blank

30 sec

1 pt

Which law states that marginal output will start to decline if more and more units of one variable factor off production are combined with a given quantity of fixed factors?

10.

Fill in the Blank

30 sec

1 pt

The number of extra units produced by an additional worker is known as what (abbreviated to three letters)?

11.

Multiple Choice

30 sec

1 pt

How would you describe the shape of the MRP curve?

Downward sloping

Upward sloping

Initially upward, then downward sloping

Steep

12.

Multiple Choice

30 sec

1 pt

MRP of the first worker is £20, the second £40, the third £35, the fourth £25 and the fifth, £20.

If the wage rate is £30, how many workers will the firm hire?

1

2

3

4

5

13.

Multiple Select

30 sec

1 pt

Which of the following would shift the Demand for Labour curve left?

Lower wage rates

Decrease in price of a competitors product

Increased training for workers

Decrease in the price of capital substitutes

A decrease in the price of the final good

14.

Fill in the Blank

30 sec

1 pt

A firm's Demand for Labour curve is likely to be more elastic, when?

15.

Multiple Choice

30 sec

Ungraded

How have you found the economics course @home so far?

1 out of 5

2 out of 5

3 out of 5

4 out of 5

5 out of 5

16.

Multiple Choice

30 sec

1 pt

A firm is more likely to have an elastic demand for labour curve for which type of worker?

A hairdresser

A doctor

An assembly line worker

17.

Multiple Choice

30 sec

1 pt

What % of workers in the UK hotel and food industries are currently on furlough?

25%

50%

70%

80%

18.

Multiple Choice

30 sec

1 pt

What is the estimated cost of COVID-19 to the UK tourism industry in 2020?

£2bn

£8bn

£15bn

£25m

19.

Open Ended

30 sec

1 pt

Why are the most beautiful areas in the UK likely to experience the highest job losses?

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20.

Multiple Choice

30 sec

1 pt

Demand for tourism workers in Cornwall is derived from what?

The population of Cornwall

The wage rate of workers in the hospitality sector

The demand for tourist visits to Cornwall

The supply of workers

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