Question 1

Which one of the following is not a reason why the wages of high-skilled workers exceed the wages of low-skilled workers?

Accepted Answer

A) The market for high-skilled workers is more competitive than the market for low-skilled labour. 
B) The value of marginal product of high-skilled workers is greater than that of low-skilled workers. 
C) The cost of obtaining the human capital required for high-skilled workers is greater than the cost of obtaining the human capital required for low-skilled workers. 
D) High-skilled workers have acquired more human capital than low-skilled workers. 
E) The demand curve for high-skilled workers lies to the right of the demand curve for low-skilled workers. 
A) The market for high-skilled workers is more competitive than the market for low-skilled labour. 
B) The value of marginal product of high-skilled workers is greater than that of low-skilled workers. 
C) The cost of obtaining the human capital required for high-skilled workers is greater than the cost of obtaining the human capital required for low-skilled workers. 
D) High-skilled workers have acquired more human capital than low-skilled workers. 
E) The demand curve for high-skilled workers lies to the right of the demand curve for low-skilled workers.

Question 2

Use the figure below to answer the following questions.
   
Figure 19.3.1
-Refer to Figure 19.3.1. At any given employment level, the vertical distance between the demand curves of the high-skilled and low-skilled workers

Accepted Answer

A) is equal to the difference in the value of marginal product of the workers. 
B) is equal to the difference in the work ethic of the workers. 
C) is caused by discrimination against minorities. 
D) is caused by discrimination against women. 
E) equals the cost of acquiring the skills. 
A) is equal to the difference in the value of marginal product of the workers. 
B) is equal to the difference in the work ethic of the workers. 
C) is caused by discrimination against minorities. 
D) is caused by discrimination against women. 
E) equals the cost of acquiring the skills.

Question 3

The tax system at both the federal and provincial levels is

Accepted Answer

A) progressive. 
B) regressive. 
C) proportional. 
D) a combination of proportional and regressive. 
E) a combination of progressive and regressive. 
A) progressive. 
B) regressive. 
C) proportional. 
D) a combination of proportional and regressive. 
E) a combination of progressive and regressive.

Question 4

Use the figure below to answer the following questions.
   
Figure 19.3.5
-Refer to Figure 19.3.5. This figure shows the labour supply curves and the value of marginal product curves for high-skilled and low-skilled workers. The equilibrium wage rate for high-skilled workers is

Accepted Answer

A) $5 an hour. 
B) $4 an hour. 
C) $6 an hour. 
D) $8 an hour. 
E) $7 an hour. 
A) $5 an hour. 
B) $4 an hour. 
C) $6 an hour. 
D) $8 an hour. 
E) $7 an hour.

Which one of the following is not a reason why the wages of high-skilled workers exceed the wages of low-skilled workers?

Use the figure below to answer the following questions. Figure 19.3.1 -Refer to Figure 19.3.1. At any given employment level, the vertical distance between the demand curves of the high-skilled and low-skilled workers

The tax system at both the federal and provincial levels is

Use the figure below to answer the following questions. Figure 19.3.5 -Refer to Figure 19.3.5. This figure shows the labour supply curves and the value of marginal product curves for high-skilled and low-skilled workers. The equilibrium wage rate for high-skilled workers is

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Governments Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Measuring Gdp and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

Macro Only: International Trade Policy

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Exam 19: Economic Inequality

Which one of the following is not a reason why the wages of high-skilled workers exceed the wages of low-skilled workers?

Use the figure below to answer the following questions. Figure 19.3.1 -Refer to Figure 19.3.1. At any given employment level, the vertical distance between the demand curves of the high-skilled and low-skilled workers

The tax system at both the federal and provincial levels is

Use the figure below to answer the following questions. Figure 19.3.5 -Refer to Figure 19.3.5. This figure shows the labour supply curves and the value of marginal product curves for high-skilled and low-skilled workers. The equilibrium wage rate for high-skilled workers is

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Governments Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Measuring Gdp and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers

The Business Cycle, Inflation, and Deflation

Fiscal Policy

Monetary Policy

Macro Only: International Trade Policy

Filters