Chapter Labor: The Human Input
Your Full Name:
Your Email Address: (required)
The Email address of an instructor to mail your quiz results:
1. Which of the diagrams in the figure below shows the situation of an individual firm that hires labor in a perfectly competitive market?
a. A
b. B
c. C
d. D
2. A decision to supply labor or not to supply it is also a decision to
a. earn the highest possible wage.
b. demand or forgo a certain amount of leisure.
c. be as productive as possible.
d. join the union.
3. To the extent that high incomes can be attributed to very high demand for very scarce abilities, the labor supply effects of a substantial increase in the tax rate
a. will be zero as long as the labor supply curve is vertical.
b. will be significant because the demand curve is fixed.
c. cannot be predicted because the substitution and income effects offset each other.
d. will be zero as long as there is no economic rent in the income.
4. As hourly wages have risen in the United States in the 20th century, the number of hours of labor supplied by most wageworkers has
a. fallen.
b. stayed roughly constant.
c. risen.
d. generally risen, but has fallen during periods of recession.
5. The wages of professional athletes
a. are related to demand for their services.
b. include substantial economic rents.
c. are high because of scarcity.
d. All of the above are true.
6. By the year 2000, college graduates are earning about ___ percent more than high school grads.
a. 70
b. 50
c. 25
d. 100
7. Minimum wage laws usually
a. increase the number of unskilled workers who are employed.
b. benefit all unskilled workers.
c. raise the wages paid to unskilled workers who are employed.
d. All of the above are correct.
8. American workers gained the right to form unions with the
a. Sherman Act.
b. Clayton Act.
c. Wagner Act.
d. AFL-CIO Act.
9. In a famous series of commercials, the International Ladies' Garment Workers Union (ILGWU) urged buyers to "look for the union label" and to avoid buying clothes not made by ILGWU members. Through the commercials, the ILGWU tried to attain its goals by
a. restricting the number of ILGWU members.
b. featherbedding.
c. raising the marginal revenue products of ILGWU members.
d. creating lower prices for goods made by ILGWU members.
10. What is the role of mediation in the settlement of labor conflict?
a. Mediators force unions to give in to management demands.
b. Mediators clarify points of disagreement, but play no other role.
c. Mediators speed up the negotiation process.
d. Mediators represent government interests in settling disputes.
(c) 2003 South-Western, All Rights Reserved
webmaster