All else equal,if an employed worker retires from their job: O The unemployment rate falls and the labour force participation rate falls O Not enough information to answer the question The unemployment rate rises and the labour force participation rate falls O The unemployment rate falls and the labour force participation rate rises O The unemployment rate rises and the labour force participation rate rises

Suppose the total population in the economy is constant. An increase in the number of people employed at the same time that the labour force participation rises implies that Group of answer choices there must be a reduction in the number of people unemployed there must be a reduction in the number of people not in the labour force all of the other options are correct there must be a reduction in the unemployment rate

Which of the following can we be sure is true?YOUR ANSWERYour AnswerA lower retirement age must decrease the supply of labour.As wages increase the quantity supplied of labour will increase.A change in the school leaving age will impact on the supply of labour.The supply of labour is finite.

Which of the following events affect the demand for labour? (i) The retirement age is raised (ii) Higher interest rates (iii) Decreased business confidence (iv) Increased savings by households due to new tax incentives (v) Emigration numbers riseYOUR ANSWERYour Answer(i) and (ii)(iii) and (iv)(i) and (v)(ii), (iii), (iv) and (v)

Which situation or event will cause a decrease in the wage rate and greater employment?YOUR ANSWERYour AnswerA slump in economic activity.The consumer demand for goods and services increases.A lower retirement age.A lower school leaving age

Which of the following statements is correct regarding the labour market?Select the correct answerGroup of answer choicesemployment rate = employed ÷ labour forceparticipation rate = (employed+unemployed) ÷ (population of working age)unemployment rate = unemployed ÷ population of working ageThe number of discouraged workers is the unemployment rate