Gottheil Quiz: Appendix 15A

Quiz
Appendix 15A

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1. During the 1960-1995 period in the United States, labor productivity: a. has fallen dramatically.
b. has hardly changed at all.
c. has risen at annual rates in excess of 5%.
d. has risen for farm workers, but not for engineers.
e. is not correctly described by any of the above.

2. Consider following index numbers, based on 1992 = 100. From 1968 to 1969, the real gross domestic product originating in the U.S. business sector rose from 50.4 to 52.0. At the same time, the hours worked by all persons engaged in the sector climbed from 73.3 to 75.2. This implies that labor productivity: a. rose by 0.4% between 1968 and 1969.
b. rose by 4.0% between 1968 and 1969.
c. fell by 0.6% between 1968 and 1969.
d. fell by 6.0% between 1968 and 1969.
e. in 1968 was roughly half the size of what it was in 1992.

3. Consider following index numbers, based on 1992 = 100. From 1973 to 1974, the real gross domestic product originating in the U.S. business sector fell from 61.3 to 60.6. At the same time, the hours worked by all persons engaged in the sector climbed from 78.5 to 78.6. This implies that labor productivity: a. fell by 0.1% between 1973 and 1974.
b. fell by 1.3% between 1973 and 1974.
c. rose by 13.3% between 1973 and 1974.
d. rose by 1.3% between 1973 and 1974.
e. in 1974 was roughly three fifth of what it was in 1992.

4. Consider following index numbers, based on 1992 = 100. From 1968 to 1969, the real gross domestic product originating in the U.S. business sector rose from 50.4 to 52.0. At the same time, the hours worked by all persons engaged in the sector climbed from 73.3 to 75.2. This implies that labor productivity: a. in 1968 was 68.8% of what it was in 1992.
b. in 1969 was 69.1% of what it was in 1992.
c. in 1992 was about 45% higher than in the late 1960s.
d. is correctly described by all of the above.
e. is not correctly described by any of the above.

5. During the 1960-1995 period in the United States, the growth of labor productivity: a. has greatly exceeded the growth of workers' real hourly compensation.
b. has been unable to keep up with the growth of workers' real hourly compensation.
c. has been almost identical to the growth of workers' real hourly compensation.
d. has fluctuated widely around its long-run trend.
e. has accelerated year after year.

6. In the United States of the mid-1990s,: a. almost 55% of all workers with fewer than 4 years of high school were operators, laborers, fabricators, and farmers.
b. fewer than 16% of all workers with 4 or more years of college were operators, laborers, fabricators, and farmers.
c. fewer than 2% of all workers with fewer than 4 years of high school were managers and professionals.
d. over 65% of all workers with 4 or more years of college were managers and professionals.
e. all of the above were true.

7. In the United States of the mid-1990s, the median weekly earnings of managers and professionals: a. were about seven times as high as those of farm workers.
b. were about five times as high as those of service workers.
c. were about three times as high as those of precision production workers.
d. were almost twice as high as those of operators, fabricators, and laborers.
e. were all of the above.

8. In the United States of the late 1990s, the median weekly earnings of white male full-time wage and salary workers: a. were about a third higher than those of white women.
b. were about double those of black men.
c. were about double those of black women.
d. were about triple those of Hispanic women.
e. were about four times those of Hispanic men.

9. In the United States of the mid-1990s, the median weekly earnings of women, compared to men,: a. were about 50% for all occupations combined.
b. were about 75% in managerial and professional occupations.
c. were about 50% in service occupations.
d. were about 25% in farming.
e. were all of the above.

10. Between 1975, when the U.S. minimum wage was $2.10 per hour, and 1997, when it was $5.15 per hour, the ratio of the minimum wage to the average wage has: a. been unchanged at 0.49.
b. steadily risen from 0.49 to 0.76.
c. steadily fallen to roughly one third.
d. fluctuated widely between 0.20 and 0.80.
e. risen to exceed 1.