Question 1

An effective minimum wage law will increase the quantity of labor demanded.

Accepted Answer

A) True 
 B)False

Question 2

Sometimes wages are set above the equilibrium level when firms pay

Accepted Answer

A) workers with more seniority higher wages than newly hired workers. 
B) efficiency wages to reduce turnover. 
C) compensating differentials to workers who work the night shift. 
D) more attractive salespeople higher wages than less attractive salespeople. 
A) workers with more seniority higher wages than newly hired workers. 
B) efficiency wages to reduce turnover. 
C) compensating differentials to workers who work the night shift. 
D) more attractive salespeople higher wages than less attractive salespeople.

Question 3

Which of the following is an example of human capital for a college economics professor?

Accepted Answer

A) Years of experience 
B) "Clickers" that interface with an in-class computer system and display the results of student "votes" 
C) Chalk 
D) Internet access in the classroom 
A) Years of experience 
B) "Clickers" that interface with an in-class computer system and display the results of student "votes" 
C) Chalk 
D) Internet access in the classroom

Question 4

Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?

Accepted Answer

The answer of Among male workers over age 25, about...

Question 5

Differences in human capital among workers can often be attributed to social or political processes rather than economic processes.

Accepted Answer

A) True 
 B)False

Question 6

Figure 19-8
​   ​
-Refer to Figure 19-8. The figure shows labor demand and labor supply in a non-unionized labor market. If the current labor demand is D1 and the current labor supply is S1, when a union is established in this market and succeeds in raising the wage to $18 per hour, what is the change in the number of workers employed?

Accepted Answer

100 fewer

Question 7

According to the signaling theory of education, better-educated workers

Accepted Answer

A) are likely to be high-ability workers. 
B) improve their marginal productivity through education. 
C) are in scarce supply in less-developed countries. 
D) can only find low-skilled jobs due to technology. 
A) are likely to be high-ability workers. 
B) improve their marginal productivity through education. 
C) are in scarce supply in less-developed countries. 
D) can only find low-skilled jobs due to technology.

Question 8

Figure 19-7
​   ​
-Refer to Figure 19-7. Given demand, D1, and supply, S1, how much more do workers earn per hour if the supply curve shifts to S2?

Accepted Answer

The answer of Figure 19-7
​   ​
-Refer to Figure...

Question 9

The signaling theory of education maintains that workers who complete specific levels of education enhance their productivity through education.

Accepted Answer

A) True 
 B)False

Question 10

Figure 19-1  
-Refer to Figure 19-1. Suppose the local labor market was in equilibrium to begin with but then the largest local employer decided to change its compensation scheme to $9. Which of the following compensation schemes could the graph be illustrating?

Accepted Answer

A) An efficiency wage 
B) Discrimination 
C) A compensating differential 
D) The superstar phenomenon 
A) An efficiency wage 
B) Discrimination 
C) A compensating differential 
D) The superstar phenomenon

Exam 19: Earnings and Discrimination

An effective minimum wage law will increase the quantity of labor demanded.

Sometimes wages are set above the equilibrium level when firms pay

Which of the following is an example of human capital for a college economics professor?

Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?

Differences in human capital among workers can often be attributed to social or political processes rather than economic processes.

According to the signaling theory of education, better-educated workers

Figure 19-7 ​ ​ -Refer to Figure 19-7. Given demand, D1, and supply, S1, how much more do workers earn per hour if the supply curve shifts to S2?

The signaling theory of education maintains that workers who complete specific levels of education enhance their productivity through education.

Figure 19-1 -Refer to Figure 19-1. Suppose the local labor market was in equilibrium to begin with but then the largest local employer decided to change its compensation scheme to $9. Which of the following compensation schemes could the graph be illustrating?

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Application

Supply, Demand, and Government Policies

Consumers, Producers, and the Efficiency of Markets

Applications: The Costs of Taxation

Application: International Trade

Externalities

Public Goods and Common Resources

The Design of the Tax System

The Costs of Production

Firms in Competitive Markets

Monopoly

Monopolistic Competition

Oligopoly

The Markets for the Factors of Production

Income Inequality and Poverty

The Theory of Consumer Choice

Frontiers in Microeconomics

Measuring a Nations Income

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

Tools of Finance

Unemployment and Its Natural Rate

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Tradeoff Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

Filters

Figure 19-7 -Refer to Figure 19-7. Given demand, D1, and supply, S1, how much more do workers earn per hour if the supply curve shifts to S2?