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1 | |
The real wage: |
| | A) | is the hourly wage of most workers. |
| | B) | the purchasing power of an hour's work. |
| | C) | both a and b. |
| | D) | neither a nor b. |
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2 | |
Which of the following describes the changes for workers over the last 100 years? |
| | A) | Increasing wages and increasing hours of work. |
| | B) | Increasing wages and decreasing hours of work. |
| | C) | Decreasing wages and increasing hours of work. |
| | D) | Decreasing wages and decreasing hours of work. |
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3 | |
The demand for labor is determined by: |
| | A) | its price. |
| | B) | its marginal productivity. |
| | C) | both a and b. |
| | D) | neither a nor b. |
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4 | |
Which of the following are determinants of the supply of labor? |
| | A) | hours worked |
| | B) | labor-force participation |
| | C) | immigration |
| | D) | all of the above. |
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5 | |
From 1960 to 2000, the labor force participation rate of women has _______ while the labor force participation rate of men has _______. |
| | A) | increased; decreased |
| | B) | decreased; increased |
| | C) | increased; stayed the same |
| | D) | stayed the same; increased |
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6 | |
Wage differentials that serve to compensate for the relative attractiveness, or nonmonetary differences, among jobs are called: |
| | A) | discrimination. |
| | B) | collective bargaining. |
| | C) | compensating differences. |
| | D) | human capital. |
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7 | |
By attending school, you are investing in: |
| | A) | human capital. |
| | B) | collective bargaining. |
| | C) | both a and b. |
| | D) | neither a nor b. |
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8 | |
Diane Sawyers, a newscaster, makes a lot of money because: |
| | A) | she is beautiful. |
| | B) | she has particular skills or attributes that are highly valued by news watchers. |
| | C) | she is a member of a union. |
| | D) | none of the above. |
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9 | |
The major national labor organization in the United States is the: |
| | A) | CIO. |
| | B) | Teamsters. |
| | C) | AFL-CIO. |
| | D) | NAACP. |
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10 | |
The process of negotiation between representatives of firms and of workers for the purpose of establishing mutually agreeable conditions of employment is called: |
| | A) | collective bargaining. |
| | B) | compensating differences. |
| | C) | negotiation. |
| | D) | none of the above. |
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11 | |
Which of the following barred child labor, called for time-and-a-half pay for weekly hours over 40, and set a federal minimum wage for most nonfarm workers? |
| | A) | Clayton Act |
| | B) | McCain-Feingold Bill |
| | C) | Fair Labor Standards Act |
| | D) | none of the above |
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12 | |
Which of the following is true? |
| | A) | Unions ensure that there is no unemployment in the economy. |
| | B) | Unions gain market power by obtaining monopoly rights on the provision of labor to particular firms. |
| | C) | Unions cause the real wage to fall across the economy. |
| | D) | none of the above. |
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13 | |
Work is _______ that must be shared among the potential workers. In the short run, when wages and prices are _______, the adjustment process can be eased by appropriate macroeconomic policies. |
| | A) | a lump; easily adjusted |
| | B) | a lump; sticky |
| | C) | not a lump; easily adjusted |
| | D) | not a lump; sticky |
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14 | |
Discrimination typically involves: |
| | A) | different treatment of different people based on some personal characteristics. |
| | B) | practices that inversely impact certain groups. |
| | C) | both a and b. |
| | D) | neither a nor b. |
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15 | |
When individuals are treated on the basis of the average behavior of members of the group to which they belong rather than on their personal characteristics, we call that: |
| | A) | group discrimination. |
| | B) | probability discrimination. |
| | C) | statistical discrimination. |
| | D) | none of the above. |
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