Exam 13: Earnings, Productivity, and the Job Market

Suppose technological improvements reduced the cost of producing automobiles by 50 percent, causing the price of automobiles to decline by a similar amount. Which of the following would necessarily result from this development?

As far as contributions to a professional sports team's bottom line are concerned, players generally receive

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?

If all persons had identical preferences and productivity factors (ability, skill level, education, experience, etc.), the highest paying jobs would be the most

In the late 1800s, Bernard made buggy whips. Their quality was such that people came from hundreds of miles to buy the whips. As mechanized transportation developed, horse-drawn buggies largely disappeared and so did the demand for Bernard's whips. Would Bernard have been better off if these new modes of transportation had never been invented?

If a firm refuses to hire any minorities due to a personal prejudice, its profits will

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

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

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

Wages in the United States are higher than wages in China primarily because

An example of a non-pecuniary job characteristic is

Automated production methods are only attractive when they

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

If there is employment discrimination against minorities, this will cause the

Everything else equal, wages are likely to be higher when

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

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

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

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

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?