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    Labor and Employment Question

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    joyce jabile

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    Labor and Employment Question

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    12 views6 pages

    Labor and Employment Question

    Uploaded by

    joyce jabile

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 6

    TEST QUESTIONS

    LABOR AND EMPLOYMENT

    TEST I: MULTIPLE CHOICE


    1 .A person is considered unemployed if he is at least ____ years old, wiling and able to work but
    cannot find work.
    A. 18 B. 15 C. 14 D. 17

    2. Wages and earnings that fail to provide a minimum of comfortable living.


    A. Inadequate Wages C. Real Wages
    B. Minimum Wages D. Nominal Wages

    3. It is an area of labor problems wherein a person work less than 40 hour per week despite the fact
    that he want to work for more hours.
    A. Underemployment C. Visible Underemployment
    B. Unemployment D. Invisible Underemployment

    4. It refers to the work people do to produce goods and services.


    A. Wages C. Labor
    B. Salary D. All of the above

    5. It is not only considered as an economic problem but also a social problem.


    A. Underemployment C. Labor Problems
    B. Visible Underemployment D. Unemployment

    6. It is referred to a working relationship which is considered below the ideal.


    A. Underemployment C. Labor Problems
    B. Visible Underemployment D. Underemployment

    7. What is the type of underemployment that posses the skills to work into full time position but are
    unable to find a regular employment?
    A. Underemployment C. Labor Problem
    B. Visible Underemployment D. Underemployment
    8. It is a very important resource
    A. Labor C. Goods
    B. Services D. Money
    9. It refers to the compensation paid to an individual after successful completion of task assigned.
    A. Real Wage C. Nominal Wage
    B. Wage D. Wage Rate

    10. It refers to both employers and workers agree on wage rates, is reached at the interaction of the
    demand and supply of labor.
    A. Supply of Labor C. Demand of Labor
    B. Demand for labor and total product D. Equilibrium Point

    11. It refers to the number of hours a worker is willing and able to work in a given period.
    A. Demand for labor and total product C. Supply of Labor
    B. Equilibrium Point. D. Demand of Labor
    TEST II : TRUE OR FALSE
    1. We should let the garment and textile manufacturing industry disappear entirely from the
    Philippines at least not that quickly while there are other business sector to enter.
    FALSE
    2. Industrial produce is important because an economy need balance in capabilities to give
    it resolve. TRUE
    3. The country need few employment source especially for women workers. FALSE
    4. Overpopulation is not cause of increasing unemployment in our country. FALSE
    5. We burdened by crises because of increasing unemployment. TRUE
    6. Positive checks reduce birth rate. FALSE
    7. The Malthusian Theory states that individuals ought to be free to act in their own self-
    interest. FALSE
    8. Classical Economists place emphasis in obtaining a maximum output of goods and
    services desired by consumers through proper balancing of resources. TRUE
    9. Keynesian Theory emphasize productivity. FALSE

    TEST III: CALCULATE THE FOLLOWING


    1. Complete the table by calculating the Real Wage Rate.

    Year Nominal Wage Rate Consumer Price Real Wage Rate


    ($/hr) Index (CPI) ($/hr)
    2010 12 100 12 %
    2011 12.12 102.4 11.84 %
    2012 13 103.6 12.55%
    2. Given the following data: Calculate the Real Wage, Demand of Labor, and Supply of Labor.

    Nominal wage: P500 per hr


    Find : REAL WAGE
    Consumer Price Index (CPI) in year 1: P115
    DEMAND OF LABOR
    Consumer Price Index (CPI) in year 2: P120
    SUPPLY OF LABOR
    Supply: 36 hrs
    Demand: 10 workers
    ANSWERS

    TEST I: MULTIPLE CHOICE


    1. B
    2. A
    3. A
    4. C
    5. D
    6. C
    7. B
    8. A
    9. B
    10. D
    11. C

    TEST II: TRUE OR FALSE


    1. False
    2. True
    3. False
    4. False
    5. True
    6. False
    7. False
    8. True
    9. False
    TEST III: SOLVING
    Real Wage Rate
    1.) 12%
    2.) 11.84 %
    3.) 12.55 %

    REAL WAGE
    nominal wage
    Real wage = CPI ∈ year 1 × CPI ∈ year 2

    W
    = CPI ∈ year 1 ×CPI ∈ year 2

    500
    = 115 ×120

    = 4.348 (120)
    Real wage = P 522

    DEMAND OF LABOR

    Ld =D ( wp )
    = 10 ( P522)
    Demand of labor = P 5,220

    SUPPLY OF LABOR

    Ls =D ( wp )
    = 36 hrs (P 522)
    Supply of labor = P 18,792

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