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Econ Final
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Preguntas del test (24)
1What is the Wagner Act?
- AProhibits unfair labor practices by unions and outlawed closed shops and permitting states to pass right-to-work laws
- BProhibited a variety of unfair labor practices, including firing workers for engaging in union activities
- CRequired business to pay men and women the same
- DProtected union workers after 10 years of work
2What are these examples of?: availability of substitute products and availability of substitute factors
- Apractices that affect elasticity of demand for labor
- Bchanges in the supply of labor
- Cchanges in elasticity of labor
3What is the supply of labor?
- AWhen workers chose more hours as their wages drop.
- BThe time an individual is willing to work at various wage rates.
- CWhen workers chose more hours as their wages rise.
4What is it called when workers chose more hours as wages rise?
- ASubstitution Effect
- BIncome Effect
- CSupply of Labor
- DElasticity of demand for labor
5What is it called when workers chose fewer hours when wages rise and more hours when wages fall?
- ASubstitution Effect
- BIncome Effect
- CSupply of labor
- DElasticity of demand for labor
6What is the reason for shifts in labor supply?
- ADemographic Changes
- BAspects of jobs other than money
- Cwages in alternative jobs
- Dnonwage income
- Eall of the above
7What is the formula for Marginal Revenue Product?
- AMPP(l) x MR
- BMR = MP
- Cchange in demand / change in revenue
- DMPP x MPP(l)
8What is the additional output from adding one more worker called?
- AMarginal Physical Product of Labor
- BMarginal Revenue
- CSupply of Labor
- DMarginal Demand
9In a competitive labor market, the firm is a _______ ________, which means _____ = _____.
- Aprice giver, MR = MP
- Bprice taker, MR = P
- Cprice taker, MR = MPP(l)
- Dprice giver, P=MC
10What causes shifts in labor demand?
- AA change in demand for the product
- BA change in price
- CA change in labor supply
- DA demographic change
11What is the formula for elasticity of demand for labor?
- A% change in Q(l) / % change in wage
- B% change in wage / % change in Q(l)
- Cchange in supply for demand / change in wage
- D% change in Q(l) / % change in revenue
12Which is an example of economic discrimination?
- AA man with a bachelors degree who has worked at the company for 12 years gets a higher salary than a man with an associates degree who has worked at the company for 2 years.
- BA woman with 8 years experience in the field gets paid a higher wage than a man with 6 months in the field.
- CA man and a woman have the same education and have both been working at the same place for 7 years, but the man gets paid $6,000 more a year.
- DTwo women have been working at the same place both for 4 years, one with a bachelors, and one with a doctorate. The woman with the doctorate gets paid a higher salary than the women with the bachelors.
13What is Becker's Conclusion?
- AAll economic discrimination will remain forever.
- BEconomic discrimination has already ended but may pick up again in the future.
- CMarket competition should drive discrimination to zero in the long run.
- DMarket competition will drive discrimination higher in the long run.
14What prohibits the unfair labor practices, outlawed closed shops and permits states to pass right-to-vote work laws?
- AWagner Act
- BTaft-Hartley Act
- CThe 16th Amendment
- DThe Fair Labor Standards Act
15Occupations are broken into predominantly male and female jobs
- ADual Labor Market Hypothesis
- BJob Crowding Hypothesis
- CDual Discrimination Hypothesis
- DFair Labor Hypothesis
16What is the theory where workers are segregated into union and nonunion sectors?
- AFair Labor Theory
- BDual Labor Market Theory
- CJob Crowding Theory
- DInsider-Outsider Theory
17True or False: a union is an association of employees who bargain with employers over the terms and conditions of work
- AVerdadero
- BFalso
18True or false: a Craft Union represents all workers employed in a specific industry
- AVerdadero
- BFalso
19Higher wages, job benefits, greater job security against decisions by management are all benefits of a union
- AVerdadero
- BFalso
20Which are the key assumptions of the competitive labor market?
- Ahomogenous product
- Bmany buyers and seller
- Ceasy entry and exit
- Dhard to enter and exit
- Emany products
- Finfo about the industry is easily available and accurate
- Gone seller controls all
21Membership dues, cost of strikes, and surrender of some individual flexibility are all examples of costs of union membership.
- AVerdadero
- BFalso
22A closed shop union is where nonunion workers can be hired but must join the union within a specified time
- AVerdadero
- BFalso
23An Agency Union is when nonunion workers may be hired but must pay union dues for its service.
- AVerdadero
- BFalso
24What are some practices affecting demand for labor?
- Aincreased product demand
- Bincreasing substitute factor
- Cavailability of substitute products
- Dincreasing MPP
Información
- Descripción
- Business/Economics Test sobre Econ Final, creado por Mel Bullock el 14/12/2016.
- Autor
- Mel Bullock
- Idioma
- English
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