 |
1 | |
Human capital can be described as |
|
| | A) | the tools used by workers to enhance productivity |
| | B) | a person's inherited abilities |
| | C) | the stock of expertise accumulated by a worker |
| | D) | education |
|
2 | |
The most important source of wage differentials are |
|
| | A) | regional variation |
| | B) | unionisation |
| | C) | relative danger |
| | D) | skills |
|
3 | |
Skilled labour is relatively scarce because |
|
| | A) | there are too few teachers |
| | B) | there are too few student places in higher education |
| | C) | it is costly to acquire human capital |
| | D) | teachers' salaries are too low |
|
4 | |
The opportunity cost of acquiring education is ____________ |
|
| | A) | course fees |
| | B) | course fees and living expenses |
| | C) | the earnings foregone |
| | D) | course fees, living expenses and textbooks |
|
5 | |
Education indicates workers' innate ability; in other words it is a _________ or ___________ device |
|
| | A) | assessment, grading |
| | B) | screening, signalling |
| | C) | teaching, learning |
| | D) | examination, testing |
|
6 | |
By restricting labour supply a trade union can ____________ and ___________ |
|
| | A) | increase the wage, increase employment |
| | B) | maintain the wage, increase employment |
| | C) | increase the wage, lower employment |
| | D) | maintain the wage, lower employment |
|
7 | |
In the UK under a _________ of the labour force belong to a trade union |
|
| | A) | quarter |
| | B) | third |
| | C) | half |
| | D) | three-quarters |
|
8 | |
Unions achieve a higher wage differential the more _______________ and the more ___________ |
|
| | A) | inelastic the demand for labour, they can restrict the supply of labour |
| | B) | members they have, aggressive they behave |
| | C) | the economy is growing, people prefer leisure |
| | D) | the productivity is growing, vacancies exist |
|
9 | |
In the UK, in recent years, union membership has _________ and days of work lost because of strikes has __________ |
|
| | A) | grown, declined |
| | B) | declined, declined |
| | C) | declined, grown |
| | D) | grown, grown |
|
10 | |
The supply of highly educated workers is fixed in the long run |
|
| | A) | TRUE |
| | B) | FALSE |
|
11 | |
A closed shop is a union that has no room for additional members |
|
| | A) | TRUE |
| | B) | FALSE |
2002 A McGraw-Hill Online Learning Centre