Exam 16: Wage Determination

The market supply curve for labor is upsloping because:

The principal-agent problem in labor markets arises because of the possibility of shirking by workers.

In a monopsonistic labor market,the employer will maximize profits by employing workers up to that point at which:

The presence of an agency shop requires all workers to join the union within the first 30 days of employment.

African Americans have higher unionization rates than whites.

Critics of the minimum wage contend that higher minimums cause employers to move up their labor demand curves,reducing employment of low-wage workers.

Over the long run,real earnings per worker can increase only at about the same rate as the economy's rate of growth of:

One of the potential negative side-effects of pay in the form of sales commissions is:

Bilateral monopoly occurs where:

Independent unions:

If a firm is a monopsonist in the hiring of both labor and capital,it will obtain the profit-maximizing quantities of labor and capital when:

In which of the following U.S.occupations is the rate of unionization the lowest?

Which of the following bargaining tactics is illegal?

Unions often oppose increases in the prices of complementary inputs (for example,truck drivers may oppose increases in taxes on diesel fuel).They do this because increases in the prices of complementary inputs might:

According to some supporters of the minimum wage,it has very small or even nonexistent negative employment effects because:

Critics of the minimum wage argue that as an antipoverty device it is "poorly targeted." By this they mean that:

In the context of labor markets,shirking refers to:

The idea of efficiency wages is that:

Which of the following is not correct?

Which of the following is a market imperfection that might explain persistent wage differentials within an occupation?