ECO 561 Final Exam: ECO 561 - If a firm in a purely competitive industry
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1<br />
7) Construction workers frequently<br />
sponsor political lobby<strong>in</strong>g <strong>in</strong> support<br />
of greater public spend<strong>in</strong>g on<br />
highways and public build<strong>in</strong>gs. One<br />
reason they do this is to<br />
A. restrict the supply of construction<br />
workers<br />
B. <strong>in</strong>crease the elasticity of demand for<br />
construction workers<br />
C. <strong>in</strong>crease the demand for construction<br />
workers<br />
D. <strong>in</strong>crease the price of substitute <strong>in</strong>puts<br />
8) Pay<strong>in</strong>g an above-equilibrium<br />
wage rate might reduce unit<br />
labour costs by<br />
A. permitt<strong>in</strong>g the <strong>firm</strong> to attract<br />
lower-quality labour<br />
B. <strong>in</strong>creas<strong>in</strong>g the cost to workers of<br />
be<strong>in</strong>g fired for shirk<strong>in</strong>g<br />
C. <strong>in</strong>creas<strong>in</strong>g voluntary worker<br />
turnover<br />
D. <strong>in</strong>creas<strong>in</strong>g the supply of labour<br />
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