1: Other things held constant, if there is a decrease in wealth, what would happen to current employment and the real wage rate?

A: Both employment and the real wage would increase.

B: Both employment and the real wage would decrease.

C: Employment would decrease and the real wage would increase.

D: Employment would increase and the real wage would decrease.

E: None of the above.

2: Other things held constant, if there is an increase in unemployment insurance benefits, what would happen to current employment and the real wage rate?

A: Both employment and the real wage would increase.

B: Both employment and the real wage would decrease.

C: Employment would decrease and the real wage would increase.

D: Employment would increase and the real wage would decrease.

E: None of the above.

3: Other things held constant, if fewer immigrants are allowed to work in the US, what would happen to current US employment (including immigrant workers) and the real wage rate?

A: Both employment and the real wage would increase.

B: Both employment and the real wage would decrease.

C: Employment would decrease and the real wage would increase.

D: Employment would increase and the real wage would decrease.

E: None of the above.

4: Other things held constant, if there is an increase in expected future income, what would happen to current employment and the real wage rate?

A: Both employment and the real wage would increase.

B: Both employment and the real wage would decrease.

C: Employment would decrease and the real wage would increase.

D: Employment would increase and the real wage would decrease.

E: None of the above.

5: Other things held constant, if there is an increase in productivity, what would happen to current employment and the real wage rate?

A: Both employment and the real wage would increase.

B: Both employment and the real wage would decrease.

C: Employment would decrease and the real wage would increase.

D: Employment would increase and the real wage would decrease.

E: None of the above.

6: Please use the following information to answer the next 2 questions. According to the Bureau of Labor Statistics. For November 2019, we have the following statistics: 1) the civilian noninstitutional population (or adult population) is 260.0 million; 2) The size of labor force is 164.4 million, 3) the number of employed people is 158.6. The labor force participation rate is

A: less than or equal to 60 percent

B: more than 60 percent, but less than or equal to 61 percent

C: more than 61 percent, but less than or equal to 62 percent

D: more than 62 percent, but less than or equal to 63 percent

E: more than 63 percent

7: The unemployment rate is

A: less than or equal to 3.6 percent

B: more than 3.6 percent, but less than or equal to 3.7 percent

C: more than 3.7 percent, but less than or equal to 3.8 percent

D: more than 3.8 percent, but less than or equal to 3.9 percent

E: more than 4.0 percent