Question 1

According to the text, which of the following factors contributed to the increased labor force participation rate of women during the postwar period?

Accepted Answer

A)  rising real wages 
B)  an increase in the years of schooling completed by women 
C)  declining fertility rates 
D)  the growth of the service sector 
E)  All of the above 
A)  rising real wages 
B)  an increase in the years of schooling completed by women 
C)  declining fertility rates 
D)  the growth of the service sector 
E)  All of the above

Question 2

In 2001, the labor force participation rate of married women equaled ________.

Accepted Answer

A)  about 10 percent. 
B)  about 25 percent. 
C)  just over 60 percent. 
D)  more than 80 percent. 
A)  about 10 percent. 
B)  about 25 percent. 
C)  just over 60 percent. 
D)  more than 80 percent.

Question 3

In the 1970s, members of the Law and Economics program at the University of Chicago argued that

Accepted Answer

A)  per se rules should be adopted by the Supreme Court and used to decide antitrust cases. 
B)  large firms should always be broken up in order to encourage competition. 
C)  large market shares may be due to efficient management or innovation. 
D)  courts should "get out of the antitrust business". 
A)  per se rules should be adopted by the Supreme Court and used to decide antitrust cases. 
B)  large firms should always be broken up in order to encourage competition. 
C)  large market shares may be due to efficient management or innovation. 
D)  courts should "get out of the antitrust business".

Question 4

According to the text, the growth of service sector employment in the US has contributed to

Accepted Answer

A)  higher unemployment rates in the postwar period. 
B)  a slowdown in the growth of real wages during the postwar period. 
C)  reduced economic stability in the postwar period. 
D)  an increase in the power and membership of unions. 
E)  All of the above. 
A)  higher unemployment rates in the postwar period. 
B)  a slowdown in the growth of real wages during the postwar period. 
C)  reduced economic stability in the postwar period. 
D)  an increase in the power and membership of unions. 
E)  All of the above.

Question 5

Technological innovations and the increasing mechanization of industry

Accepted Answer

A)  have led to long-run aggregate unemployment that is difficult to eradicate. 
B)  have led to lower wages for skilled workers. 
C)  mean higher prices for consumers. 
D)  ultimately create new jobs that replace old jobs. 
A)  have led to long-run aggregate unemployment that is difficult to eradicate. 
B)  have led to lower wages for skilled workers. 
C)  mean higher prices for consumers. 
D)  ultimately create new jobs that replace old jobs.

Question 6

The primary area of growth in the modern U.S. economy is

Accepted Answer

A)  the manufacturing sector. 
B)  the agricultural sector. 
C)  the service sector. 
D)  the market for U.S. exports. 
A)  the manufacturing sector. 
B)  the agricultural sector. 
C)  the service sector. 
D)  the market for U.S. exports.

Question 7

In the last 20 years all of the following measures of the manufacturing sector have declined except

Accepted Answer

A)  total employment in manufacturing. 
B)  manufacturing employment as a share of the labor force. 
C)  manufacturing output as a share of GNP. 
D)  total manufacturing output. 
A)  total employment in manufacturing. 
B)  manufacturing employment as a share of the labor force. 
C)  manufacturing output as a share of GNP. 
D)  total manufacturing output.

Question 8

Explanations for the decline in U.S. productivity in the 1970s and 1980s include all of the following except :

Accepted Answer

A)  difficulties with measuring service sector output. 
B)  the entry into the labor force of many young, inexperienced workers. 
C)  a wave of corporate mergers that reduced competition. 
D)  rising oil prices. 
A)  difficulties with measuring service sector output. 
B)  the entry into the labor force of many young, inexperienced workers. 
C)  a wave of corporate mergers that reduced competition. 
D)  rising oil prices.

Question 9

The period from 1977 through 1989 saw a wave of corporate mergers in the U.S.  These mergers were characterized by

Accepted Answer

A)  the use of junk bonds for financing buyouts. 
B)  the low debt-to-equity ratios of the resulting firms. 
C)  resulting firms that focused on "core competencies" rather than diversification. 
D)  a "buyers' market" in which acquiring firms could purchase the stock of takeover targets for less than market value. 
E)  All of the above. 
A)  the use of junk bonds for financing buyouts. 
B)  the low debt-to-equity ratios of the resulting firms. 
C)  resulting firms that focused on "core competencies" rather than diversification. 
D)  a "buyers' market" in which acquiring firms could purchase the stock of takeover targets for less than market value. 
E)  All of the above.

Question 10

Junk bonds are securities with

Accepted Answer

A)  low risk and low yield. 
B)  high risk and high yield. 
C)  low risk and high yield. 
D)  high risk and low yield. 
A)  low risk and low yield. 
B)  high risk and high yield. 
C)  low risk and high yield. 
D)  high risk and low yield.

Question 11

A conglomerate merger is a combination of

Accepted Answer

A)  firms that formerly competed with each other. 
B)  firms that formerly bought from and sold to each other. 
C)  firms that produce nearly identical products, but are based in different countries. 
D)  firms that produce unrelated products or services. 
A)  firms that formerly competed with each other. 
B)  firms that formerly bought from and sold to each other. 
C)  firms that produce nearly identical products, but are based in different countries. 
D)  firms that produce unrelated products or services.

Question 12

The primary purpose of a conglomerate merger is

Accepted Answer

A)  to achieve economies of scale available through increased production of a single good. 
B)  to allow for decentralized management by spreading authority of a number of people spread throughout company locations. 
C)  to avoid adverse effects of business cycles through diversification. 
D)  to reduce competition by purchasing and then closing competing firms. 
A)  to achieve economies of scale available through increased production of a single good. 
B)  to allow for decentralized management by spreading authority of a number of people spread throughout company locations. 
C)  to avoid adverse effects of business cycles through diversification. 
D)  to reduce competition by purchasing and then closing competing firms.

Question 13

All of the following have played a role in reducing union strength since 1970 except

Accepted Answer

A)  rising service sector employment. 
B)  foreign industrial competition. 
C)  the Supreme Court's decision to apply antitrust laws to union organization efforts. 
D)  "right-to-work" laws. 
A)  rising service sector employment. 
B)  foreign industrial competition. 
C)  the Supreme Court's decision to apply antitrust laws to union organization efforts. 
D)  "right-to-work" laws.

Exam 29: Manufacturing, Productivity, and Labor

According to the text, which of the following factors contributed to the increased labor force participation rate of women during the postwar period?

In 2001, the labor force participation rate of married women equaled ________.

In the 1970s, members of the Law and Economics program at the University of Chicago argued that

According to the text, the growth of service sector employment in the US has contributed to

Technological innovations and the increasing mechanization of industry

The primary area of growth in the modern U.S. economy is

In the last 20 years all of the following measures of the manufacturing sector have declined except

Explanations for the decline in U.S. productivity in the 1970s and 1980s include all of the following except :

The period from 1977 through 1989 saw a wave of corporate mergers in the U.S. These mergers were characterized by

Junk bonds are securities with

A conglomerate merger is a combination of

The primary purpose of a conglomerate merger is

All of the following have played a role in reducing union strength since 1970 except

Growth, Welfare, and the American Economy

Founding the Colonies

Colonial Economic Activities

The Economic Relations of the Colonies

Economic Progress and Wealth

Three Crises and Revolt

Hard Realities for a New Nation

Land and the Early Westward Movements

Transportation and Market Growth

Market Expansion and Industry in First Transition

Labor During the Early Industrial Period

Money and Banking in the Developing Economy

The Entrenchment of Slavery and Regional Conflict

War, Recovery, and Regional Divergence

Agricultures Western Advance

Railroads and Economic Change

Industrial Expansion and Concentration

The Emergence of Americas Labor Consciousness

Money, Prices, and Finance in the Postbellum Era

Commerce at Home and Abroad

World War I, 1914-1918

The Roaring Twenties

The Great Depression

The New Deal

World War Ii

The Changing Role of the Federal Government

The Changing Role of the Federal Government: Consumer Safety, Agriculture, the Environment, and Housing

Monetary Policy, Fiscal Policy, and the Business Cycle After World War Ii

Achievements of the Past, Challenges for the Future

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