Industrial Economics and Labor Markets
Description: Industrial Economics and Labor Markets Quiz | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: industrial economics labor markets economics |
What is the study of the behavior of firms and industries in imperfectly competitive markets called?
Which market structure is characterized by a single firm that controls the entire market?
In an oligopoly, firms are interdependent and their decisions affect each other's outcomes. What is the term used to describe this interdependence?
Which market structure is characterized by many buyers and sellers, homogeneous products, and perfect information?
What is the term used to describe a situation where a firm has market power and can influence the price of its product?
What is the term used to describe the price-setting behavior of firms in an oligopoly, where each firm chooses its output level based on the expected output of other firms?
What is the term used to describe the situation where firms in an oligopoly reach an agreement to cooperate and set prices or output levels?
What is the term used to describe the government's intervention in markets to promote competition and prevent anti-competitive behavior?
Which labor market model assumes that wages are determined by the intersection of labor supply and labor demand?
What is the term used to describe the situation where the quantity of labor supplied is less than the quantity of labor demanded?
What is the term used to describe the situation where the quantity of labor supplied is greater than the quantity of labor demanded?
What is the term used to describe the unemployment rate that is considered to be the lowest possible rate achievable without causing inflationary pressures?
What is the term used to describe the wage rate that balances the quantity of labor supplied and the quantity of labor demanded?
What is the term used to describe the difference between the actual wage rate and the equilibrium wage rate?
What is the term used to describe the situation where a single buyer has significant market power and can influence the wages and working conditions of workers?