Question 1

Workers with more human capital on average earn substantially higher pay than workers with less human capital in

Accepted Answer

A) most countries but not in the United States. 
B) the United States but not in most other countries. 
C) the United States and in most other countries. 
D) None of the above is correct; the evidence fails to indicate that human capital is a significant factor in determining earnings anywhere in the world. 
A) most countries but not in the United States. 
B) the United States but not in most other countries. 
C) the United States and in most other countries. 
D) None of the above is correct; the evidence fails to indicate that human capital is a significant factor in determining earnings anywhere in the world.

Question 2

Over the last 20 years or so,the earnings gap between workers with college degrees and workers with high school degrees has

Accepted Answer

A) remained roughly constant for both men and women. 
B) widened for both men and women. 
C) widened for men and narrowed for women. 
D) narrowed for men and widened for women. 
A) remained roughly constant for both men and women. 
B) widened for both men and women. 
C) widened for men and narrowed for women. 
D) narrowed for men and widened for women.

Question 3

Which of the following is an economic explanation for the "beauty premium"?

Accepted Answer

A) Employers pay very attractive women less than average-looking women because they believe them to be less intelligent. 
B) Employers pay above-average-looking men more than above-average-looking women. 
C) Employers pay above-average-looking women more than average-looking women because customers prefer to deal with better-looking women. 
D) Employers pay above-average-looking men more because they signal to the market that they are willing to spend more money on personal grooming, a sign of wealth and stability. 
A) Employers pay very attractive women less than average-looking women because they believe them to be less intelligent. 
B) Employers pay above-average-looking men more than above-average-looking women. 
C) Employers pay above-average-looking women more than average-looking women because customers prefer to deal with better-looking women. 
D) Employers pay above-average-looking men more because they signal to the market that they are willing to spend more money on personal grooming, a sign of wealth and stability.

Question 4

Which of the following is an example of human capital?

Accepted Answer

A) machines built by people 
B) formal education acquired in schools 
C) on-the-job training 
D) Both b and c are correct. 
A) machines built by people 
B) formal education acquired in schools 
C) on-the-job training 
D) Both b and c are correct.

Question 5

Human capital is

Accepted Answer

A) an important determinant of wages, but it does not affect the production of goods and services. 
B) an important determinant of wages, and it affects the production of goods and services. 
C) a specific type of physical capital. 
D) very different from physical capital in that physical capital represents an investment, while human capital does not represent an investment. 
A) an important determinant of wages, but it does not affect the production of goods and services. 
B) an important determinant of wages, and it affects the production of goods and services. 
C) a specific type of physical capital. 
D) very different from physical capital in that physical capital represents an investment, while human capital does not represent an investment.

Question 6

In empirical analyses of factors that help explain wages,

Accepted Answer

A) effort and ability are not likely to contribute to large differences in wages in the U.S.economy. 
B) economists typically find that measurable factors explain less than half of the variation in wages. 
C) economists typically find few factors that are not explicitly measurable. 
D) unmeasurable influences on wage differences are found to be quite small. 
A) effort and ability are not likely to contribute to large differences in wages in the U.S.economy. 
B) economists typically find that measurable factors explain less than half of the variation in wages. 
C) economists typically find few factors that are not explicitly measurable. 
D) unmeasurable influences on wage differences are found to be quite small.

Exam 19: Earnings and Discrimination

Workers with more human capital on average earn substantially higher pay than workers with less human capital in

Over the last 20 years or so,the earnings gap between workers with college degrees and workers with high school degrees has

Which of the following is an economic explanation for the "beauty premium"?

Which of the following is an example of human capital?

Human capital is

In empirical analyses of factors that help explain wages,

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Applications

Supply, demand, and Government Policies

Consumers, producers, and the Efficiency of Markets

Application: 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

Oligopoly

Monopolistic Competition

The Markets for the Factors of Production

Income Inequality and Poverty

The Theory of Consumer Choice

Frontiers of Microeconomics

Measuring a Nations Income

Measuring the Cost of Living

Production and Growth

Saving, investment, and the Financial System

The Basic Tools of Finance

Unemployment

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 Trade Off Between Inflation and Unemployment

Five Debates Over Macroeconomic Policy

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