1. The minimum wage

Select one:

a.is unlikely to be binding in the market for accountants.

b.is likely to be binding in the market for supermarket check out operators.

c.is a form of price control.

d.All of the above.

2.Which of the following statements about the pattern of unemployment in New Zealand is correct?

Select one:

a.A measured unemployment rate of 0 percent is common.

b.The change in the unemployment rate is negatively correlated with real GDP growth.

c.If the overall unemployment rate is 5 percent then it will be approximately that for each age group.

d.The Household Labour Force Survey and the Registered Unemployed series match each other very closely.

3.In which of the following occupations would it be most likely that minimum wage laws are "binding"?

Select one:

a.Supermarket check-out operators.

b.Lawyers.

c.Nurses.

d.Truck drivers.

4.An unintended consequence of making 6 months paid parental leave an entitlement, providing the worker returns to work, might be

Select one:

a.that it becomes harder for female workers in the 25 - 35 age bracket to get a job.

b.higher wage rates for those who are entitled to the leave.

c.a rise in the income of parents of young children.

d.an increase in the number of workers wanting to return to work after having children.