Question

12. Which one of the following is most likely to reduce the mobility of labor between jobs? (circle one)

1. A decrease in license fees

2. the requirement of a union that you apprentice first before receiving your union license

3. the taxation of income

9. Other things constant, which of the following job characteristics would be most likely to result in a higher wage for a job? (circle one)

1. The employer provides lots of free benefits.

2. The job employs low skilled workers and trains them.

3. The job requires substantial amounts of somewhat dangerous work.

4. The job involves working in pleasant surroundings.

10. An example of a non-pecuniary job characteristic is: (circle one)

1. over-time pay

2. high salaries

3. an end-of-the-year bonus

4. a comfortable work environment

1. inflation     

13. If there is employment discrimination against minorities, this will cause the: (circle one)

1. supply of their services to increase, and their wages to fall.

2. demand for their services to decline, and their wages to fall.

3. supply of their services to decline, and their wages to rise.

4. demand for their services to decline, and their wages to rise.

           

14. Suppose that a law firm employer only hires workers that are Caucasian, even though each type of worker has the same productivity. Which of the following is correct if the employer discriminates? (circle one)

1. The employer will be just as cost efficient as a non-discriminating employer.

2. The employer will face higher costs than a non-discriminating employer.

3. The employer will have lower costs than a non-discriminating employer.

4. The employer will have higher productivity than a non-discriminating employer.

15. True or False? Income Inequality has been growing in the United States in the last 25 years.

16. Which of the following is one of the causes of the unequal distribution of income in the United States? (circle one)

       a. Changes in inflation rates

       b. Changes in interests on the part of workers

       c. Changes in the returns to education

       d. Increasing birth rates

17. Which of the following is considered income (not wealth): (circle one)

1. Dividends and interest on investments

2. The value of a house that is owned

3. The value of all bank accounts

4. Gold that is owned

18. Greater income equality that is achieved through the redistribution of income is thought to: (circle one)

     a. Stimulate innovation and entrepreneurship

     b. Promote economic efficiency in the economy

     c. Increase incentives to work, save, and invest in the economy

     d. Increase inefficiency by reducing incentives

19. Income inequality has grown due to: (circle one)

1. The highest income quintile increasing their income more than other quintiles

2. The highest income quintile decreasing their income more than other quintiles

3. The lowest income quintile increasing their income more than other quintiles

4. The lowest income quintile decreasing their income more than other quintiles

20. True or False: Poverty rates in the US are the highest they have been in the last 50 years.

22. One main complaint about the official income thresholds used in defining poverty is that they: (circle one)

1. Fail to account for the effects of the minimum wage

2. Have remained fixed for over the past two decades

3. Are too high for most families

4. Are inadequate to meet basic needs in major metropolitan areas where housing is very expensive

Answer 1

12. Which one of the following is most likely to reduce the mobility of labor between jobs? (circle one)

the requirement of a union that you apprentice first before receiving your union license
Explanation: It would make it more difficult to switch jobs.

9. Other things constant, which of the following job characteristics would be most likely to result in a higher wage for a job? (circle one)

The job requires substantial amounts of somewhat dangerous work.

Explanation: theire would be an additional risk premium that would be paid due to dangerous nature of work

10. An example of a non-pecuniary job characteristic is: (circle one)

a comfortable work environment
Explanation: This is example of non-monetary benefit

Please post other questions separately.