Question 1

Which of the following is a reason the Peter principle's inefficient promotion practices might occur?

Accepted Answer

A)  asymmetric ignorance about workers' true abilities 
B)  incentive problems 
C)  hierarchical management structures 
D)  tournament schemes 
E)  efficiency wages 
A)  asymmetric ignorance about workers' true abilities 
B)  incentive problems 
C)  hierarchical management structures 
D)  tournament schemes 
E)  efficiency wages C

Question 2

Which of the following is a reason that long-term jobs can only partially be explained by the accumulation of firm-specific human capital?

Accepted Answer

A)  Long-term jobs also require general human capital. 
B)  Some workers' real earnings decline over time. 
C)  Firm-specific human capital only partially explains the level of a worker's output. 
D)  Workers only acquire firm-specific human capital for the first few weeks of a job. 
E)  Only high-ability workers are able to acquire firm-specific human capital. 
A)  Long-term jobs also require general human capital. 
B)  Some workers' real earnings decline over time. 
C)  Firm-specific human capital only partially explains the level of a worker's output. 
D)  Workers only acquire firm-specific human capital for the first few weeks of a job. 
E)  Only high-ability workers are able to acquire firm-specific human capital. B

Question 3

Which of the following is,by definition,enforceable in a court of law?

Accepted Answer

A)  an implicit contract 
B)  a relational contract 
C)  the Peter principle 
D)  an explicit contract 
E)  a Pareto optimal contract 
A)  an implicit contract 
B)  a relational contract 
C)  the Peter principle 
D)  an explicit contract 
E)  a Pareto optimal contract D

Question 4

The owner of an asset enjoys _______ ,which are the rights to all uses of an asset in a way not consistent with a prior contract.

Accepted Answer

A)  residual control rights 
B)  formal authority 
C)  real authority 
D)  the buy decision 
E)  the make-or-buy decision 
A)  residual control rights 
B)  formal authority 
C)  real authority 
D)  the buy decision 
E)  the make-or-buy decision

Question 5

e canonical view of an internal labor market is NOT characterized by which of these stylized properties?

Accepted Answer

A)  The organization has a distinct and stable hierarchy of jobs. 
B)  Wages are attached to jobs rather than the workers who fill those jobs. 
C)  The workers' actions are determined by a price and wage system. 
D)  Workers have lengthy careers at the firm along a job ladder where promotions
Are often the result of seniority rather than performance. 
E)  The internal labor market is attached to the external labor market through ports
Of entry and exit. 
A)  The organization has a distinct and stable hierarchy of jobs. 
B)  Wages are attached to jobs rather than the workers who fill those jobs. 
C)  The workers' actions are determined by a price and wage system. 
D)  Workers have lengthy careers at the firm along a job ladder where promotions
Are often the result of seniority rather than performance. 
E)  The internal labor market is attached to the external labor market through ports
Of entry and exit.

Question 6

In the working relationship of a boss,B,and a worker,W,which of the following is NOT necessarily true?

Accepted Answer

A)  W accepts authority when his behavior is determined by B's decisions. 
B)  B has formal authority if he has the right to veto a proposal and implement his own plans. 
C)  B has real authority if he has the right to fire W. 
D)  W enters into an employment contract with B when W agrees to accept the authority of B and B agrees to pay W a stated wage. 
E)  W can choose whether or not to accept an employment contract. 
A)  W accepts authority when his behavior is determined by B's decisions. 
B)  B has formal authority if he has the right to veto a proposal and implement his own plans. 
C)  B has real authority if he has the right to fire W. 
D)  W enters into an employment contract with B when W agrees to accept the authority of B and B agrees to pay W a stated wage. 
E)  W can choose whether or not to accept an employment contract.

Question 7

Ports of entry and exit are defined as:

Accepted Answer

A)  where the internal labor market comes in contact with the external labor market. 
B)  where manufactured products enter and leave a firm. 
C)  respectively,the wages workers take in and the output they produce. 
D)  respectively,the output workers produce and the wages they take in. 
E)  the methods by which inputs are received by a firm and output is delivered by a
Firm. 
A)  where the internal labor market comes in contact with the external labor market. 
B)  where manufactured products enter and leave a firm. 
C)  respectively,the wages workers take in and the output they produce. 
D)  respectively,the output workers produce and the wages they take in. 
E)  the methods by which inputs are received by a firm and output is delivered by a
Firm.

Question 8

Which of the following is NOT a true statement about relational contracts?

Accepted Answer

A)  A relational contract has unenforceable elements. 
B)  A relational contract must be self-enforcing in order to be effective. 
C)  In order to work,a relational contract must have long-term benefits of adhering to the contract that are greater than the short-term gains of breaking the contract. 
D)  A relational contract is based on reputation. 
E)  A relational contract includes only verifiable information. 
A)  A relational contract has unenforceable elements. 
B)  A relational contract must be self-enforcing in order to be effective. 
C)  In order to work,a relational contract must have long-term benefits of adhering to the contract that are greater than the short-term gains of breaking the contract. 
D)  A relational contract is based on reputation. 
E)  A relational contract includes only verifiable information.

Question 9

Which of the following is an example of the make-or-buy decision?

Accepted Answer

A)  A textbook maker decides whether to rent an office building or buy an office building. 
B)  A shoe salesman decides whether to work at a department store or a local shoe store. 
C)  A mother decides whether to babysit her own children or send her children to daycare. 
D)  A scientist decides whether to hire a new research assistant or give the research assistant he already has employed more work. 
E)  A teacher decides whether to teach first or second grade. 
A)  A textbook maker decides whether to rent an office building or buy an office building. 
B)  A shoe salesman decides whether to work at a department store or a local shoe store. 
C)  A mother decides whether to babysit her own children or send her children to daycare. 
D)  A scientist decides whether to hire a new research assistant or give the research assistant he already has employed more work. 
E)  A teacher decides whether to teach first or second grade.

Question 10

According to Doeringer and Piore (1971),the supplants the price and wage system of the as the primary means .

Accepted Answer

A)  internal labor market;external labor market;by which scarce resources are allocated 
B)  internal labor market;external labor market;by which workers are recruited 
C)  internal labor market;external labor market;by which the market is organized 
D)  external labor market;internal labor market;by which scarce resources are allocated 
E)  external labor market;internal labor market;by which workers are recruited 
A)  internal labor market;external labor market;by which scarce resources are allocated 
B)  internal labor market;external labor market;by which workers are recruited 
C)  internal labor market;external labor market;by which the market is organized 
D)  external labor market;internal labor market;by which scarce resources are allocated 
E)  external labor market;internal labor market;by which workers are recruited

Question 11

Which of the following is NOT a reason that a firm might make a reputational nvestment?

Accepted Answer

A)  in order to improve or retain its reputation among potential workers 
B)  in order to reap immediate rewards 
C)  in order to induce workers to make costly effort 
D)  in order to reap future benefits 
E)  in order to attract high-quality workers 
A)  in order to improve or retain its reputation among potential workers 
B)  in order to reap immediate rewards 
C)  in order to induce workers to make costly effort 
D)  in order to reap future benefits 
E)  in order to attract high-quality workers

Which of the following is a reason the Peter principle's inefficient promotion practices might occur?

Which of the following is a reason that long-term jobs can only partially be explained by the accumulation of firm-specific human capital?

Which of the following is,by definition,enforceable in a court of law?

The owner of an asset enjoys _______ ,which are the rights to all uses of an asset in a way not consistent with a prior contract.

e canonical view of an internal labor market is NOT characterized by which of these stylized properties?

In the working relationship of a boss,B,and a worker,W,which of the following is NOT necessarily true?

Ports of entry and exit are defined as:

Which of the following is NOT a true statement about relational contracts?

Which of the following is an example of the make-or-buy decision?

According to Doeringer and Piore (1971),the supplants the price and wage system of the as the primary means .

Which of the following is NOT a reason that a firm might make a reputational nvestment?

Introduction

The Uslabor Market

The Short Run Demand for Labor

The Supply of Labor

Human Capital

On-The-Job Training

Competitive Equilibrium

Policy Application: the Minimum Wage

Policy Application: the War on Poverty

Death and Injury in the Usworkplace-A Hedonic Analysis

Discrimination I: Theory

Discrimination Ii: Evidence and Policy

The Hiring Process

Incentives

Tasks,technologies,and Organizational Design

The Long Run Demand for Labor and Adjustment Costs

Filters

Exam 16: Careers and the Employment Relation

Which of the following is a reason the Peter principle's inefficient promotion practices might occur?

Which of the following is a reason that long-term jobs can only partially be explained by the accumulation of firm-specific human capital?

Which of the following is,by definition,enforceable in a court of law?

The owner of an asset enjoys _______ ,which are the rights to all uses of an asset in a way not consistent with a prior contract.

e canonical view of an internal labor market is NOT characterized by which of these stylized properties?

In the working relationship of a boss,B,and a worker,W,which of the following is NOT necessarily true?

Ports of entry and exit are defined as:

Which of the following is NOT a true statement about relational contracts?

Which of the following is an example of the make-or-buy decision?

According to Doeringer and Piore (1971),the supplants the price and wage system of the as the primary means .

Which of the following is NOT a reason that a firm might make a reputational nvestment?

Introduction

The Uslabor Market

The Short Run Demand for Labor

The Supply of Labor

Human Capital

On-The-Job Training

Competitive Equilibrium

Policy Application: the Minimum Wage

Policy Application: the War on Poverty

Death and Injury in the Usworkplace-A Hedonic Analysis

Discrimination I: Theory

Discrimination Ii: Evidence and Policy

The Hiring Process

Incentives

Tasks,technologies,and Organizational Design

The Long Run Demand for Labor and Adjustment Costs

Filters