1.Assume that the only program available to a Quebec resident at age 65 is the Quebec Pension Plan. There is no income tax and the contribution rate is zero. Which budget constraint does not describe his/her consumption at this age, where B is the Maximum benefit he is eligible for?

a.C=w*h + Y

b.C= B+Y

c.C= w*h + Y + B

d.C = (1-t)*w*h + B (where t is the clawback rate)

2.All the following are motivations for immigration, except

a.a humanitarian concerns

b.population growth

c.admission of specific labour market skills that immigrants might have

d.attracting foreign investment

3.Which of the following statements is true of a firm operation in a competitive labour market?

a.All the options are correct

b.The supply of labour facing the firm is horizontal at the market wage in the long run

c.The labour supply of the industry is upward sloping

d.The labour supply facing the firm can be upward sloping in the short run

4.Suppose the government introduces a layoff taxpaid by the firms to protect the workers. (the tax is paid when firms lay off workers) All the statements about this policy are correct except;

a.It protects the employee by creating a larger buffer

b.It makes it harder for the new workers to find a job

c.It reduces employment rate and future hiring

d.It is a type of quais-fixed cost

5.In a monopsony, if the government sets a minimum wage for workers that is above the competitive wage

a.Unemployment would decrease through a disemployment effect

b.Wages would fall as firms try to reduce labour costs

c.The total wage bill must fall

d.Unemployment would increase through a disemployment effect