Question 1

Which of the following would be most likely to cause an increase in the wage rate for a particular job?

Accepted Answer

A) A decrease in the amount of training needed to perform this job. 
B) An increase in the danger of this job. 
C) A decrease in the danger of this job. 
D) An improvement in the working conditions associated with this job. 
E) An increase in the number of workers with the skills for this job. 
A) A decrease in the amount of training needed to perform this job. 
B) An increase in the danger of this job. 
C) A decrease in the danger of this job. 
D) An improvement in the working conditions associated with this job. 
E) An increase in the number of workers with the skills for this job.

Question 2

If Congress suddenly passes legislation that required all U.S.workers to receive the same annual pay,we would expect

Accepted Answer

A) less human capital investment. 
B) a shortage of workers to fill the least desirable jobs. 
C) a surplus of workers to fill the easy,desirable jobs. 
D) all of the above. 
A) less human capital investment. 
B) a shortage of workers to fill the least desirable jobs. 
C) a surplus of workers to fill the easy,desirable jobs. 
D) all of the above.

Question 3

(I)Productivity growth in the United States since 1996 has been more rapid than it was during the previous two decades.
(II)Economists believe that the more rapid productivity growth since 1996 is in large part due to the computer revolution and related technological innovations.

Accepted Answer

A) Both I and II are true. 
B) I is true;II is false. 
C) I is false;II is true. 
D) Both I and II are false. 
A) Both I and II are true. 
B) I is true;II is false. 
C) I is false;II is true. 
D) Both I and II are false.

Question 4

A compensation structure that generates much higher pay rates for the top performers,while those whose productivity is only a little lower receive substantially less compensation is called

Accepted Answer

A) tournament pay. 
B) competing differentials. 
C) dueling executives. 
D) winner take all. 
A) tournament pay. 
B) competing differentials. 
C) dueling executives. 
D) winner take all.

Question 5

Which of the following is most likely to increase the money wages that will be required to attract a given number of workers into a job category?

Accepted Answer

A) the job is widely viewed as prestigious. 
B) the employer provides child care on the premises. 
C) the employer does not discriminate. 
D) the work is widely viewed as being stressful and dangerous. 
A) the job is widely viewed as prestigious. 
B) the employer provides child care on the premises. 
C) the employer does not discriminate. 
D) the work is widely viewed as being stressful and dangerous.

Question 6

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

Accepted Answer

A) The average wages of minority workers are lower than the average wages of whites. 
B) The average wages of minority employees are lower than the average wages of whites with similar productivity characteristics. 
C) The mean number of years of schooling of minority workers is lower than that of whites. 
D) The average hours worked by minority employees exceeds the hours worked by whites. 
A) The average wages of minority workers are lower than the average wages of whites. 
B) The average wages of minority employees are lower than the average wages of whites with similar productivity characteristics. 
C) The mean number of years of schooling of minority workers is lower than that of whites. 
D) The average hours worked by minority employees exceeds the hours worked by whites.

Question 7

Other things the same,the wages in an occupation are likely to be higher the more

Accepted Answer

A) dangerous the job. 
B) prestigious the work environment of the occupation. 
C) desirable the location of the job. 
D) pleasant the working conditions. 
A) dangerous the job. 
B) prestigious the work environment of the occupation. 
C) desirable the location of the job. 
D) pleasant the working conditions.

Question 8

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

Accepted Answer

A) technological change increased output per worker. 
B) the minimum wage were doubled. 
C) automation were outlawed. 
D) a larger proportion of the labor force was unionized. 
A) technological change increased output per worker. 
B) the minimum wage were doubled. 
C) automation were outlawed. 
D) a larger proportion of the labor force was unionized.

Question 9

Other things constant,which of the following job characteristics would be most likely to result in a higher pay rate for the job?

Accepted Answer

A) The employer provides low cost child-care services on the premises. 
B) The job is widely viewed as prestigious. 
C) The job requires substantial amounts of stressful out-of-town travel. 
D) The job involves working in pleasant surroundings. 
A) The employer provides low cost child-care services on the premises. 
B) The job is widely viewed as prestigious. 
C) The job requires substantial amounts of stressful out-of-town travel. 
D) The job involves working in pleasant surroundings.

Exam 26: Earnings, productivity, and the Job Market

Which of the following would be most likely to cause an increase in the wage rate for a particular job?

If Congress suddenly passes legislation that required all U.S.workers to receive the same annual pay,we would expect

(I)Productivity growth in the United States since 1996 has been more rapid than it was during the previous two decades. (II)Economists believe that the more rapid productivity growth since 1996 is in large part due to the computer revolution and related technological innovations.

A compensation structure that generates much higher pay rates for the top performers,while those whose productivity is only a little lower receive substantially less compensation is called

Which of the following is most likely to increase the money wages that will be required to attract a given number of workers into a job category?

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

Other things the same,the wages in an occupation are likely to be higher the more

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

Other things constant,which of the following job characteristics would be most likely to result in a higher pay rate for the job?

The Economic Approach

Asome Tools of the Economist

Asupply,demand,and the Market Process

Asupply and Demand: Applications and Extensions

Difficult Cases for the Market and the Role of Government

The Economics of Collective Decision-Making

Ataking the Nations Economic Pulse

Economic Fluctuations, unemployment, and Inflation

Aan Introduction to Basic Macroeconomic Markets

Dynamic Change, economic Fluctuations, and the Ad-As Model

Fiscal Policy: the Keynesian View and Historical Perspective

Fiscal Policy, incentives, and Secondary Effects

Amoney and the Banking System

Modern Macroeconomics and Monetary Policy

Stabilization Policy, output, and Employment

Creating an Environment for Growth and Prosperity

Institutions,policies,and Cross-Country Differences in Income and Growth

Gaining From International Trade

International Finance and the Foreign Exchange Market

Consumer Choice and Elasticity

Acosts and the Supply of Goods

Aprice Takers and the Competitive Process

Price-Searcher Markets With Low Entry Barriers

Aprice-Searcher Markets With High Entry Barriers

The Supply of and Demand for Productive Resources

Investment, the Capital Market, and the Wealth of Nations

Income Inequality and Poverty

Government Spending and Taxation

The Economics of Social Security

The Stock Market: Its Function, Performance, and Potential As an Investment Opportunity

Great Debates in Economics: Keynes Versus Hayek

The Crisis of 2008: Causes and Lessons for the Future

Lessons From the Great Depression

Lessons From Japan and Canada

The Federal Budget and the National Debt

The Economics of Healthcare

Education: Problems and Performance

Earnings Differences Between Men and Women

Do Labor Unions Increase the Wages of Workers

The Question of Resource Exhaustion

Difficult Environmental Cases and the Role of Government

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