Title: QUIZ: The Labor Market -- Economic Lowdown Audio Series
Course: Andria Testing FRE2 > Section: The Labor Market -- Economic Lowdown Audio Series

Q: Why does the demand for labor have a downward slope?
- Employers are willing to buy more hours of labor at lower wages.
- Employers are willing to buy more hours of labor at stable wages.
- Employers are willing to buy more hours of labor at higher wages.
- Employers are willing to buy fewer hours of labor at lower wages.
A: Employers are willing to buy more hours of labor at lower wages.

Q: Why does the supply of labor have an upward slope?
- Workers are willing to work a greater quantity of hours at lower wages.
- Workers are willing to work a lower quantity of hours at stable wages.
- Workers are willing to work a greater quantity of hours at higher wages.
- Workers are willing to work a lower quantity of hours at higher wages.
A: Workers are willing to work a greater quantity of hours at higher wages.

Q: Why do fast food jobs often have low wages?
- The high demand for low skilled workers
- The low demand for low skilled workers
- The large supply of qualified workers
- The small supply of qualified workers
A: The large supply of qualified workers

Q: In labor markets, the demanders of labor are __________.
- firms/employers
- workers
A: firms/employers

Q: In labor markets, the suppliers of labor are __________.
- firms/employers
- workers
A: workers

Q: If a job becomes more attractive to workers than other comparable jobs (and nothing else changes), you might expect the __________.
- the demand for those workers to increase, causing wages to increase
- supply of workers to decrease, causing wage to increase
- demand for those workers to decrease, causing wages to decrease
- supply of workers to increase, causing wages to decrease
A: supply of workers to increase, causing wages to decrease

Q: If the demand for cars increases, the wages of auto workers will __________.
- increase
- decrease
- remain unchanged
- cause fewer people to enter the field
A: increase

Q: What combination of labor supply and demand is likely to result in high wages?
- Large supply of workers, and relatively small demand for their services
- Large supply of workers, and relatively large demand for their services
- Small supply of workers, and relatively small demand for their services
- Small supply of workers, and relatively large demand for their services
A: Small supply of workers, and relatively large demand for their services