7. The demand curve for labor is downward to the right, and the supply curve is upward to the right. The government's mi

[answerhappygod]

7. The demand curve for labor is downward to the right, and the
supply curve is upward to the right. The government's minimum wage
cut has increased the total income of workers receiving the minimum
wage. What is the fact that the wage elasticity of labor demand or
labor supply can be found from this? (1) Demand is wage inelastic
(2) Supply is wage inelastic (3) Demand is wage elastic (4) Supply
is wage elastic (5) There is no clear information about wage
elasticity.
What is most appropriate to describe the efficiency of the
minimum wage reduction policy in 8.7? (1) The surplus of labor
providers increases. (2) The surplus of labor providers decreases.
(3) The surplus in labor demand decreases. (4) The social
surplus increases.
10. The COVID-19 vaccine is said to be able to return to daily
life by judging that collective quarantine has been achieved if
only 75% of the country is inoculated. What are the characteristics
of vaccinations as they increase? (1) Marginal external benefits
are increasing. (2) Marginal external costs are increasing. (3)
Marginal external benefits gradually decrease. (4) Marginal
external costs gradually decrease.
11. The wind in our country blows mainly from west to east.
Among the following, the explanation of the company representative
seeking profit maximization and the government seeking welfare
maximization is not correct to determine the location of the plant
that causes air pollution. (1) The corporate representative does
not consider the direction of the wind. (2) Corporate
representatives prefer the west coast, which is close to consumers.
(3) The Government do not consider wind direction. (4) The
Government do not consider distance from consumers.
13. Which of the following is the largest increase in deadweight
loss due to the same amount of tax on goods consumption? (1) When
there is no external effect (2) When there is a positive external
effect of consumption (3) When there is a negative external effect
of production (4) When there is a negative external effect of
consumption
14. Assume that the market is in equilibrium in the absence of
government intervention. In equilibrium market output, the private
marginal cost is 8 and the social marginal cost is 12. What are the
private marginal benefits? Also (b) what are the social marginal
benefits? (1) 4(2)8(3)12(4)20(5) unknown.