Question 1

A union model changes the market form from that of perfect competition to that of a

Accepted Answer

A) monopoly. 
B) monopsony. 
C) oligopoly. 
D) monopolistic competition. 
A) monopoly. 
B) monopsony. 
C) oligopoly. 
D) monopolistic competition.

Question 2

Figure 45.4
-In Figure 45.4, when compared to the perfectly competitive equilibrium, the wage paid to employees as a result of unionization

Accepted Answer

A) increases from W* to W'. 
B) decreases from W' to W*. 
C) remains at W'. 
D) remains at W*. 
A) increases from W* to W'. 
B) decreases from W' to W*. 
C) remains at W'. 
D) remains at W*.

Question 3

Figure 45.3
-In Figure 45.3, the fact that there is a limit on the number of workers that can be certified is shown by

Accepted Answer

A) the kinked shape of the new supply curve. 
B) the slope the old supply curve. 
C) the slope of the old demand curve. 
D) the increase in the demand curve. 
A) the kinked shape of the new supply curve. 
B) the slope the old supply curve. 
C) the slope of the old demand curve. 
D) the increase in the demand curve.

Question 4

Figure 45.1
-In Figure 45.1, the added revenue that employers bring in from the work of their employees at the equilibrium wage-labor combination is

Accepted Answer

A) OACL* 
B) OW*CL* 
C) OBCL* 
D) ABC 
A) OACL* 
B) OW*CL* 
C) OBCL* 
D) ABC

Question 5

The percentage of workers represented by unions reached its peak in the

Accepted Answer

A) 1940s. 
B) 1970s. 
C) 1980s. 
D) 1990s. 
A) 1940s. 
B) 1970s. 
C) 1980s. 
D) 1990s.

Question 6

Which of the following explains why private employers (more frequently than public employers)have tended to shift away from defined benefit programs?

Accepted Answer

A) Their employees have begun to reduce the amount they shift from one employer to the next. 
B) Their employees have begun to increase the amount they shift from one employer to the next. 
C) Their employees have increasingly fallen victim to Ponzi schemes. 
D) People have begun to create well-funded private savings plans. 
A) Their employees have begun to reduce the amount they shift from one employer to the next. 
B) Their employees have begun to increase the amount they shift from one employer to the next. 
C) Their employees have increasingly fallen victim to Ponzi schemes. 
D) People have begun to create well-funded private savings plans.

Question 7

Which of the following acts limited the power of unions?

Accepted Answer

A) The Taft-Hartley Act 
B) The Norris-LaGuardia Act 
C) The National Industrial Recovery Act 
D) The Wagner Act 
A) The Taft-Hartley Act 
B) The Norris-LaGuardia Act 
C) The National Industrial Recovery Act 
D) The Wagner Act

Question 8

Figure 45.1
-In Figure 45.1, the (producer)surplus that employees get at the equilibrium wage-labor combination is

Accepted Answer

A) OACL* 
B) W*AC 
C) BW*C 
D) ABC 
A) OACL* 
B) W*AC 
C) BW*C 
D) ABC

Question 9

A company town model changes the market form from that of perfect competition to that of a

Accepted Answer

A) monopoly. 
B) monopsony. 
C) oligopoly. 
D) monopolistic competition. 
A) monopoly. 
B) monopsony. 
C) oligopoly. 
D) monopolistic competition.

Question 10

Figure 45.4
-In Figure 45.4, when compared to the perfectly competitive equilibrium, the number of workers hired as a result of unionization

Accepted Answer

A) decreases from L* to L'. 
B) increases from L' to L*. 
C) remains at L'. 
D) remains at L*. 
A) decreases from L* to L'. 
B) increases from L' to L*. 
C) remains at L'. 
D) remains at L*.

Question 11

Figure 45.2
-In Figure 45.2, at the perfectly competitive equilibrium, the number of workers hired will be

Accepted Answer

A) L' 
B) L* 
C) less than L' 
D) between L' and L* 
A) L' 
B) L* 
C) less than L' 
D) between L' and L*

Question 12

The percentage of government workers that are unionized ________ the percentage of private workers that are unionized.

Accepted Answer

A) is greater than 
B) has always been less than 
C) is roughly equal to 
D) is, since the PATCO strike, smaller than 
A) is greater than 
B) has always been less than 
C) is roughly equal to 
D) is, since the PATCO strike, smaller than

Question 13

The current percentage of the total work force represented by unions is approximately

Accepted Answer

A) 35%. 
B) 25%. 
C) 11%. 
D) 5%. 
A) 35%. 
B) 25%. 
C) 11%. 
D) 5%.

Question 14

Private employees (more frequently than public employees)tend to have their private retirements in

Accepted Answer

A) defined benefit pension programs. 
B) defined contribution programs. 
C) Ponzi schemes. 
D) Social Security. 
A) defined benefit pension programs. 
B) defined contribution programs. 
C) Ponzi schemes. 
D) Social Security.

Question 15

Figure 45.3
-In Figure 45.3, the fact that workers must pay for their apprenticeship in order to be certified is shown by

Accepted Answer

A) the kinked shape of the new supply curve. 
B) the shift in the old supply curve. 
C) the slope of the old demand curve. 
D) the increase in the demand curve. 
A) the kinked shape of the new supply curve. 
B) the shift in the old supply curve. 
C) the slope of the old demand curve. 
D) the increase in the demand curve.

Question 16

A labor system whereby a limited number of workers can be certified to work in a particular field but are of higher ability because of the training necessary for certification will cause

Accepted Answer

A) the demand for these workers to decrease. 
B) the wage paid to these workers to decrease. 
C) the supply for these workers to increase. 
D) the supply curve for these workers to become vertical at some point. 
A) the demand for these workers to decrease. 
B) the wage paid to these workers to decrease. 
C) the supply for these workers to increase. 
D) the supply curve for these workers to become vertical at some point.

Question 17

The future of private sector labor unions is

Accepted Answer

A) bright, because of the success of the PATCO strike. 
B) bright, because of the increased availability of undocumented workers from other countries. 
C) bleak, because of the growing economic importance of small employers in service industries. 
D) bleak, because of the recent increases in the minimum wage earned by non-union workers. 
A) bright, because of the success of the PATCO strike. 
B) bright, because of the increased availability of undocumented workers from other countries. 
C) bleak, because of the growing economic importance of small employers in service industries. 
D) bleak, because of the recent increases in the minimum wage earned by non-union workers.

Question 18

The use of the supply and demand model to analyze labor markets implicitly assumes that there is ____ governing the labor market.

Accepted Answer

A) perfect competition 
B) monopoly 
C) monopsony 
D) bi-lateral monopoly 
A) perfect competition 
B) monopoly 
C) monopsony 
D) bi-lateral monopoly

Question 19

In 2005, the membership of the AFL-CIO changed significantly when the

Accepted Answer

A) CIO separated from the AFL. 
B) Teamsters and other unions withdrew from the umbrella organization. 
C) AFL-CIO became a union of public-sector employees only. 
D) AFL-CIO was able to organize its first factories in mainland China. 
A) CIO separated from the AFL. 
B) Teamsters and other unions withdrew from the umbrella organization. 
C) AFL-CIO became a union of public-sector employees only. 
D) AFL-CIO was able to organize its first factories in mainland China.

Question 20

The 2005 dispute between the Teamsters and the AFL-CIO centered around whether union

Accepted Answer

A) resources would be devoted to electing sympathetic politicians or expanding union membership. 
B) negotiating priorities would seek hourly wage increases over a shorter work week. 
C) members who were truck drivers would also be required to unload their own trucks. 
D) negotiating priorities would seek improved healthcare benefits over hourly wage increases. 
A) resources would be devoted to electing sympathetic politicians or expanding union membership. 
B) negotiating priorities would seek hourly wage increases over a shorter work week. 
C) members who were truck drivers would also be required to unload their own trucks. 
D) negotiating priorities would seek improved healthcare benefits over hourly wage increases.

Exam 45: Unions

A union model changes the market form from that of perfect competition to that of a

Figure 45.4 -In Figure 45.4, when compared to the perfectly competitive equilibrium, the wage paid to employees as a result of unionization

Figure 45.3 -In Figure 45.3, the fact that there is a limit on the number of workers that can be certified is shown by

Figure 45.1 -In Figure 45.1, the added revenue that employers bring in from the work of their employees at the equilibrium wage-labor combination is

The percentage of workers represented by unions reached its peak in the

Which of the following explains why private employers (more frequently than public employers)have tended to shift away from defined benefit programs?

Which of the following acts limited the power of unions?

Figure 45.1 -In Figure 45.1, the (producer)surplus that employees get at the equilibrium wage-labor combination is

A company town model changes the market form from that of perfect competition to that of a

Figure 45.4 -In Figure 45.4, when compared to the perfectly competitive equilibrium, the number of workers hired as a result of unionization

Figure 45.2 -In Figure 45.2, at the perfectly competitive equilibrium, the number of workers hired will be

The percentage of government workers that are unionized ________ the percentage of private workers that are unionized.

The current percentage of the total work force represented by unions is approximately

Private employees (more frequently than public employees)tend to have their private retirements in

Figure 45.3 -In Figure 45.3, the fact that workers must pay for their apprenticeship in order to be certified is shown by

A labor system whereby a limited number of workers can be certified to work in a particular field but are of higher ability because of the training necessary for certification will cause

The future of private sector labor unions is

The use of the supply and demand model to analyze labor markets implicitly assumes that there is ____ governing the labor market.

In 2005, the membership of the AFL-CIO changed significantly when the

The 2005 dispute between the Teamsters and the AFL-CIO centered around whether union

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