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Exam 12: Labour Markets

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Question 51

Multiple Choice

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The workers in Market 1 and Market 2 are equally qualified;they can easily move between industries. -Refer to the diagrams above.Suppose that a labour union forms in market 1 and succeeds in raising the wage to W1.The effect on workers in market 1 is to make

A) all workers better off.
B) workers from 0 to L3 worse off.
C) all workers worse off.
D) workers from 0 to L3 better off and workers from L3 to L1 worse off.
E) workers from L3 to L1 better off.

F) B) and C)
G) None of the above

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Question 52

Multiple Choice

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An arbitrary preference by an employer for one group of workers over another is termed

A) customer discrimination.
B) statistical discrimination.
C) employer discrimination.
D) employee discrimination.
E) economic discrimination.

F) B) and E)
G) A) and B)

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Question 53

Multiple Choice

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A university graduate who works at a firm is also working part-time on a master's degree in business and expects to be paid a higher wage after earning the degree.The basic reason for this wage differential is

The reason non-union firms do not always drive union firms out of business is that

Two profit-maximizing firms,X and Y,are paying a wage rate of $15 but firm Y's marginal labour cost is higher than that for firm X.For this to happen,it must be the case that

Decisions to pursue higher education,or graduate school,are best thought of as __________ decisions.

Jobs that possess a higher risk of injury or death will

Given identical demand,a monopsonist will hire __________ workers than a competitive firm and produce __________ output.

-In the above labour market,the equilibrium outcome for a monopsonist is wage rate ________ and number of workers ___________.

A decrease in demand for a firm's output results in a(n)

Which of the following factors is NOT part of one's stock of human capital?

A lot of amateur singers willingly accept low-paying jobs to wait for their chance at success.They are enticed by a __________ market.

Assume that workers are of the same race and either male or female.Male and female workers possess the same stock of human capital and hence they are equally productive.The wage rate for male workers is $10 per hour and for female workers the wage rate is $9 per hour. -Refer to the information above.Picking city B,which improves Julia's earnings compared to city A,means the household is

Assume that workers are of the same race and either male or female.Male and female workers possess the same stock of human capital and hence they are equally productive.The wage rate is $10 per hour for male workers and $9 per hour for female workers. -Refer to the information above.Instead of assuming of that male and female workers have the same stock of human capital,suppose that male workers have a larger stock: precisely $1 worth.Then one would predict

The labour force consists of those people who are ________ and those who are ____________.

Suppose that a representative group of male and female university graduates is surveyed about their salaries.It is found that the males earn an average of $48,000 and the females earn an average of $37,000.The $11,000 difference is __________ of discrimination if __________.

The decision to pursue higher education,or graduate school,requires that one compare the __________ to the __________.

The growth of Internet sites devoted to employment search should

Assume that workers are of the same race and either male or female.Male and female workers possess the same stock of human capital and hence they are equally productive.The wage rate for male workers is $10 per hour and for female workers the wage rate is $9 per hour. -Refer to the information above.If Carl and Julia pick city A,then household income is __________ and Julia's earnings are __________.

If the value of marginal product of the last worker hired is $10 and the wage rate is $12,then the firm