Question 1

Discuss the key changes in the U.S.labor force during the 20th century.

Accepted Answer

The U.S. labor force underwent significa

Question 2

Discuss the key changes in the distribution of income over the 20th century.Use statistics to back the claim that the income distribution after transfers is about as unequal today as it was almost twenty years ago.

Accepted Answer

The distribution of income over the 20th

Question 3

Easterlin (1968,1987)argues that as the relative price of children rises,

Accepted Answer

A)  the average household demands fewer of them. 
B)  society, at large, demands fewer of them. 
C)  society, at large, demands more of them. 
D)  nothing happens since the demand for children is not influenced by price. 
A)  the average household demands fewer of them. 
B)  society, at large, demands fewer of them. 
C)  society, at large, demands more of them. 
D)  nothing happens since the demand for children is not influenced by price.

Question 4

Compare and contrast the union movement of the beginning of the 20th century to the union movement at the end.Identify what the two movements have in common.Describe how they differ,using scholars' research to explain why these differences exist.

Accepted Answer

The union movement at the beginning of t

Question 5

Goldin (2001)gives the U.S.investment in public education credit for boosting the U.S.labor ?force participation rates and helping the U.S.economy develop.

Accepted Answer

A) True 
 B)False

Question 6

Goldin (2001)refers to the 20th century as the "human capital" century and credits education for the rise in overall income.

Accepted Answer

A) True 
 B)False

Question 7

Leo Troy termed the phrase "Old Unionism." What is it? How can it be used to explain the changes in union activity and membership over the course of the 20th century?

Accepted Answer

"Old Unionism" refers to the traditional

Question 8

During the 20th century,the percentage of unskilled laborers in the U.S.rose steadily.

Accepted Answer

A) True 
 B)False

Question 9

According to Hughes and Cain (2011),today's growth in white-collar jobs is fueled by investments in education and does not depend on apprentice-style training or land holdings.

Accepted Answer

A) True 
 B)False

Question 10

The amount earned by the tertiary laborer is determined by labor productivity in the primary and secondary sectors of the U.S.economy.

Accepted Answer

A) True 
 B)False

Question 11

Employment in the tertiary sector in the 20th century showed

Accepted Answer

A)  a marked cyclical tendency in harmony with the business cycle. 
B)  a leveling off in times of recession. 
C)  a downturn during cyclical expansions. 
D)  a steady increase since 1900. 
A)  a marked cyclical tendency in harmony with the business cycle. 
B)  a leveling off in times of recession. 
C)  a downturn during cyclical expansions. 
D)  a steady increase since 1900.

Question 12

Adam Smith (1776)is primarily associated with the theory that industrialization proceeds at the expense of the working class.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following economists is/are considered the leader(s)in the theory of market behavior?

Accepted Answer

A)  Alfred Marshall 
B)  Adam Smith 
C)  David Ricardo 
D)  All of the above 
A)  Alfred Marshall 
B)  Adam Smith 
C)  David Ricardo 
D)  All of the above

Question 14

The premium on a college education increases when

Accepted Answer

A)  the market demand for knowledge and skilled workers decreases, and all else is held constant. 
B)  the market supply of knowledge and skilled workers increases, and all else is held constant. 
C)  the growth in the demand for knowledge and skilled workers outpaces the growth in supply. 
D)  the growth in the supply of knowledge and skilled workers outpaces the growth in demand. 
A)  the market demand for knowledge and skilled workers decreases, and all else is held constant. 
B)  the market supply of knowledge and skilled workers increases, and all else is held constant. 
C)  the growth in the demand for knowledge and skilled workers outpaces the growth in supply. 
D)  the growth in the supply of knowledge and skilled workers outpaces the growth in demand.

Question 15

Social Security provides incentive for individuals to

Accepted Answer

A)  save more than they consume during their working years. 
B)  manage their assets privately in order to prepare to live on principal and interest during retirement. 
C)  rely on transfer payments made by the working class to them during retirement. 
D)  carefully manage their private retirement portfolios and use the income earned to consume and save during retirement. 
A)  save more than they consume during their working years. 
B)  manage their assets privately in order to prepare to live on principal and interest during retirement. 
C)  rely on transfer payments made by the working class to them during retirement. 
D)  carefully manage their private retirement portfolios and use the income earned to consume and save during retirement.

Question 16

Today,about one out of four legal immigrants arrives in the U.S with experience in a professional occupation.

Accepted Answer

A) True 
 B)False

Question 17

The Immigration Act of 1965

Accepted Answer

A)  helped pick up the pace of immigration in the U.S., effectively increasing the supply ?of highly skilled laborers. 
B)  imposed country quotas on the number of U.S. immigrants. 
C)  encouraged immigration on the basis of skill, political asylum and family reunification. 
D)  can be characterized by all of the above. 
A)  helped pick up the pace of immigration in the U.S., effectively increasing the supply ?of highly skilled laborers. 
B)  imposed country quotas on the number of U.S. immigrants. 
C)  encouraged immigration on the basis of skill, political asylum and family reunification. 
D)  can be characterized by all of the above.

Question 18

Describe the conditions imposed on a perfect economic world.Point out the evidence which suggests that we live in an imperfect economic world.What are the economic ramifications? Mention transaction costs.

Accepted Answer

In a perfect economic world, there would

Question 19

Define the gender gap and discuss the forces that cause this gap to shrink and expand.Reference Goldin's (1990)research on this topic.

Accepted Answer

The gender gap refers to the differences

Question 20

The immigration rates of the 20th century returned to the high rates of the 19th century.

Accepted Answer

A) True 
 B)False

Exam 28: Population, Health, and Labor

Discuss the key changes in the U.S.labor force during the 20th century.

Discuss the key changes in the distribution of income over the 20th century.Use statistics to back the claim that the income distribution after transfers is about as unequal today as it was almost twenty years ago.

Easterlin (1968,1987)argues that as the relative price of children rises,

Compare and contrast the union movement of the beginning of the 20th century to the union movement at the end.Identify what the two movements have in common.Describe how they differ,using scholars' research to explain why these differences exist.

Goldin (2001)gives the U.S.investment in public education credit for boosting the U.S.labor ?force participation rates and helping the U.S.economy develop.

Goldin (2001)refers to the 20th century as the "human capital" century and credits education for the rise in overall income.

Leo Troy termed the phrase "Old Unionism." What is it? How can it be used to explain the changes in union activity and membership over the course of the 20th century?

During the 20th century,the percentage of unskilled laborers in the U.S.rose steadily.

According to Hughes and Cain (2011),today's growth in white-collar jobs is fueled by investments in education and does not depend on apprentice-style training or land holdings.

The amount earned by the tertiary laborer is determined by labor productivity in the primary and secondary sectors of the U.S.economy.

Employment in the tertiary sector in the 20th century showed

Adam Smith (1776)is primarily associated with the theory that industrialization proceeds at the expense of the working class.

Which of the following economists is/are considered the leader(s)in the theory of market behavior?

The premium on a college education increases when

Social Security provides incentive for individuals to

Today,about one out of four legal immigrants arrives in the U.S with experience in a professional occupation.

The Immigration Act of 1965

Describe the conditions imposed on a perfect economic world.Point out the evidence which suggests that we live in an imperfect economic world.What are the economic ramifications? Mention transaction costs.

Define the gender gap and discuss the forces that cause this gap to shrink and expand.Reference Goldin's (1990)research on this topic.

The immigration rates of the 20th century returned to the high rates of the 19th century.

Overseas Empire

Colonial Development

America on the Eve of Revolution

Gaining Independence

Westward Expansion

Population and Labor Force

Law and the Rise of Classical American Capitalism

Transportation, Internal Improvements, and Urbanization

Agricultural Expansion: The Conflict of Two Systems on the Land

The Debate over Slavery

The Early Industrial Sector

The Financial System and the International Economy

Economic Effects of the Civil War

Railroads and Economic Development

Post-Civil War Agriculture

Population Growth and the Atlantic Migration

Industrialization, Entrepreneurship, and Urban Growth

Big Business and Government Intervention

Financial Developments 1863–1914

The Giant Economy and Its International Relations

Labor and the Law

The Command Economy Emerges: World War I

Normalcy”: 1919–1929

The Great Depression

The New Deal

The “Prosperity” of Wartime

Before the New Frontier: The Postwar Economy

Postwar Industry and Agriculture

To the New Millennium and Beyond

Does Our Past Have a Future?

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