1.If an employer is willing to pay $18 per hour and the equilibrium wage rate is $10 per hour, what is the consumer surplus for this employer: $_____?

2. If a worker is willing to be paid $8 per hour and the equilibrium wage rate is $15 per hour, what is the producer surplus for this worker: $_____?

3.In the market for labor (hiring of workers/employees), workers are "supplying" their labor and employers (the buyers) are "demanding" workers' labor.True or False(choose one): According to the law of demand, if the wage rate (price of labor), is higher, there will be less labor demanded (e.g., fewer number of workers demanded and/or fewer number workers' hours demanded).

4. Consider the market for "lower wage workers." If the equilibrium wage rate is $10 per hour and a price floor is now set so that the wage rate must be $16 dollars an hour (this could be due to a minimum wage law). Assume everyone follows the law.Employers will employ (choose one):

1. Fewer lower wage worker hours than if employers could pay $10 instead
2. More lower wage worker hours than if employers could pay $10 instead
3. The same number of lower wage workers hours as if employers could pay $10 instead

5.In the market for labor (hiring of workers/employees), workers are "supplying" their labor and employers (the buyers) are "demanding" workers' labor.True or False(choose one): According to the law of supply, if the wage rate (price of labor), is lower, there will be less labor supplied (e.g., fewer number of workers willing to work and/or fewer number of hours offered for hire).

6.Suppose again that the equilibrium wage rate was $10 per hour in the market for "lower wage workers." Now, however, instead of a price floor, the government puts a price ceiling on the wage rate of $5 per hour. Assume again everyone follows the law. As a result of the price ceiling, employers will employ (choose one):

1. Fewer lower wage worker hours than if employers could pay more than $5 per hour
2. More lower wage worker hours than if employers could pay more than $5 per hour
3. The same number of lower wage workers hours as if employers could pay more than $5 per hour