Demand and Supply of Labour

The demand and supply of labour are influenced by both macroeconomic and microeconomic factors.

• True

• False

Demand for labour is influenced by the following...

• wage rate

• conditions of employment offered

• pattern of consumer demand

• all of the answers

The rate of structural change is a microeconomic factor influencing the demand for labour.

• True

• False

Productivity of labour infuences the decisions by employers to hire new workers.

• This is a micro factor

• This is a macro factor

Changes in aggregate demand influence labour demand.

• True

• False

The Transition to Work employment service is an example of a government funded service. This service is used to create employment opportunities and considered a macroeconomic factor.

• True

• False

Department of Employment and Workplace Relations is an Australian government department formed on 1 July 2022 and enables individuals to access the following....

• training

• skills

• employment

• all of the above

• Negotiating Youth Bonus wage subsidies of up to $10,000 (GST inclusive) if you offer ongoing employment to Transition to Work job seekers. This is a

• incentive for the....

• employee

• employer

Using mobile apps or websites to connect individuals providing services with consumers such as Uber and AirBnB are known to be part of the...

• gig economy

• slang economy

• fun economy

• drive economy

Microeconomic factors influencing the supply of labour include....

• education and training qualifications

• labour geographical mobility

• occupational mobility

• all of the above