Exam 13: Earnings, Productivity, and the Job Market

Economic theory suggests that the standard of living of American workers would rise if

Working conditions, prestige, variety, location, employee freedom, and employee responsibilities are all examples of

Given the amount of time and other costs of investing in human capital that it takes to earn a Ph.D., why are college professors paid less than other occupations that require similar or lesser amounts of human capital?

Which of the following is true about earnings and productivity?

The fact that wage differentials continue to exist across different groups of workers leads economists to believe that

Which of the following is the clearest evidence of employment discrimination against minority employees?

Economic theory suggests that the standard of living of American workers would rise if

Which of the following is true about millionaires?

Millionaires tend to be older than the general population because

Economic models suggest that movie stars have salaries that

If carpentry positions A and B required identical skill levels, other things constant, which one of the following would most likely increase the wage rate of position A relative to position B?

Ethyl does not like redheads and refuses to hire any at her business. Paul was the perfect job candidate on paper, but the personal interview revealed that he was a redhead. Are there any costs to Ethyl for not hiring Paul?

The earnings of all employees in a competitive economy would be equal if

Which of the following is most likely to increase the market wage rate in a job category?

Everything else equal, wages are likely to be higher when

Economic theory suggests that the standard of living of American workers would rise if

The major determinant of an individual's income is

Happyland is a country devoted to consumption. The inhabitants spend all of their income on pleasurable things and virtually none on capital investment, human or otherwise. Seriousland is frugal, spending very little on consumption and a great deal on human and physical capital. Ten years from now, which country would you prefer to inhabit?

When comparisons are made between the earnings of whites and minorities with the same age, quantity of schooling, marital status, sector of employment, union and industry status, regional location, and annual hours worked, recent studies indicate that

Assume that empirical evidence shows a difference in mean earnings between two groups, say, majority and minority workers. What conclusion may be drawn?