innovation, unemployment and living standards in the long run Flashcards
The figure is a graph of unemployment rates for 16 OECD countries from 1960 to 2012. You can click on the figure to enlarge it.
Based on this information, which of the following statements is correct?
the unemployment rates of differenet countries were affected very differently by the oil shocks in the 1970’s
The figure shows an economy’s production function before and after a technological progress. You can click on the figure to enlarge it.
Based on this information, which of the following statements is correct?
the concavity of the production function indicates diminishing margunal product of capital
The following is the plot of Beveridge curves for the US and Germany for the period Q1 2001 to Q2 2015. You can click on the figure to enlarge it.
Based on this information, which of the following statements is correct?
the matching rate in germany improved after its beverledge curve shift around 2007
The figure depicts the graphs of the long-run profit curve and the markup at which firms’ entry and exit are zero. You can click on the figure to enlarge it.
Based on this information, which of the following statements is correct?
higher risk of exportation of overseas business results in a higher profit curve
Which of the following statements is correct regarding the model of the labour market?
in the short and medium run models the amount of capital is fixed while in the long run model the amount of capital can vary
The figure depicts the long-run adjustment process in the labour market after technological progress. You can click on the figure to enlarge it.
Based on this information, which of the following statements is correct?
lower unemployment at e implies a higher wage required is induce employees to exert more effort, resulting in the higher real wage at B
he figure depicts the adjustment in the average wage (for employed and unemployed) after technological progress. You can click on the figure to enlarge it.
Based on this information, which of the following statements is correct?
assuming a fixed size labour force L, the average wage will always increase after technological progress
The figure plots countries’ real wage growth against their unemployment rate, averaged over the period 1970 to 2011.
Based on this information, which of the following statements is correct?
if you care about wage growth only then european countries have outperformed the north american countries
The figure plots unemployment rate vs trade union density for the period 2000 to 2012. You can click on the figure to enlarge it.
Based on this information, which of the following statements is correct?
given the trade union density, the relative unemployment outcomes indicates that inclusivness of trade unions is higher in norway then belgium
