Title: QUIZ: The Labor Market -- Economic Lowdown Video Series
Course: Recommended Resources for AP Micro from FRE > Section: Unit 5: Factor Markets

Q: In labor markets
- firms demand labor and individuals supply labor.
- firms supply labor and individuals demand labor.
- unions determine the demand and supply of labor.
- government determines the demand and supply of labor.
A: firms demand labor and individuals supply labor.

Q: The demand for labor is a derived demand. That means it is dependent upon the
- demand for other inputs.
- demand for goods and services.
- supply of other inputs.
- supply of goods and services.
A: demand for goods and services.

Q: The wage (price) in most labor markets is determined by
- the demand for and supply of labor.
- government regulations.
- the supply of other inputs.
- union mandates.
A: the demand for and supply of labor.

Q: If the demand for electrical engineers increases, the wage (price) for electrical engineers will
- increase.
- decrease.
- remain unchanged.
- cause fewer people to enter the field.
A: increase.

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