Question 1

Figure 19-8
​  ​
-Refer to Figure 19-8. The figure shows labor demand and labor supply in a non-unionized labor market. If the current labor demand is D1 and the current labor supply is S1, when a union is established in this market and succeeds in raising the wage to $18 per hour, what is the change in the number of workers employed?

Accepted Answer

100 fewer ...

Question 2

Sometimes wages are set above the equilibrium level when firms pay

Accepted Answer

A)  workers with more seniority higher wages than newly hired workers.
B)  efficiency wages to reduce turnover.
C)  compensating differentials to workers who work the night shift.
D)  more attractive salespeople higher wages than less attractive salespeople.E) A) and C)
F) B) and D)

Question 3

The signaling theory of education maintains that workers who complete specific levels of education enhance their productivity through education.

Accepted Answer

A) True 
 B)False

Question 4

An effective minimum wage law will increase the quantity of labor demanded.

Accepted Answer

A) True 
 B)False

Question 5

Figure 19-1 
-Refer to Figure 19-1. Suppose the local labor market was in equilibrium to begin with but then the largest local employer decided to change its compensation scheme to $9. Which of the following compensation schemes could the graph be illustrating?

Accepted Answer

A)  An efficiency wage
B)  Discrimination
C)  A compensating differential
D)  The superstar phenomenonE) B) and D)
F) None of the above

Question 6

Figure 19-7
​  ​
-Refer to Figure 19-7. Given demand, D1, and supply, S1, how much more do workers earn per hour if the supply curve shifts to S2?

Accepted Answer

The answer of Figure 19-7
​  ​
-Refer to Figure 19-7....

Question 7

Differences in human capital among workers can often be attributed to social or political processes rather than economic processes.

Accepted Answer

A) True 
 B)False

Question 8

Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?

Accepted Answer

The answer of Among male workers over age 25, about...

Question 9

Which of the following is an example of human capital for a college economics professor?

Accepted Answer

A)  Years of experience
B)  "Clickers" that interface with an in-class computer system and display the results of student "votes"
C)  Chalk
D)  Internet access in the classroomE) All of the above
F) None of the above

Question 10

According to the signaling theory of education, better-educated workers

Accepted Answer

A)  are likely to be high-ability workers.
B)  improve their marginal productivity through education.
C)  are in scarce supply in less-developed countries.
D)  can only find low-skilled jobs due to technology.E) C) and D)
F) A) and D)

Exam 19: Earnings and Discrimination

Correct Answer
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Differences in human capital among workers can often be attributed to social or political processes rather than economic processes.

Correct Answer
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Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?

Correct Answer
verified

Figure 19-1 -Refer to Figure 19-1. Suppose the local labor market was in equilibrium to begin with but then the largest local employer decided to change its compensation scheme to $9. Which of the following compensation schemes could the graph be illustrating?

Correct Answer
verified

An effective minimum wage law will increase the quantity of labor demanded.

Correct Answer
verified

According to the signaling theory of education, better-educated workers

Correct Answer
verified

Sometimes wages are set above the equilibrium level when firms pay

Correct Answer
verified

Which of the following is an example of human capital for a college economics professor?

Correct Answer
verified

The signaling theory of education maintains that workers who complete specific levels of education enhance their productivity through education.

Correct Answer
verified

Figure 19-7 -Refer to Figure 19-7. Given demand, D1, and supply, S1, how much more do workers earn per hour if the supply curve shifts to S2?

Correct Answer
verified

Exam 19: Earnings and Discrimination

Correct Answerverified100 fewer ...View AnswerShow Answer

Differences in human capital among workers can often be attributed to social or political processes rather than economic processes.

Correct AnswerverifiedShow Answer

Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?

Correct AnswerverifiedShow Answer

Figure 19-1 -Refer to Figure 19-1. Suppose the local labor market was in equilibrium to begin with but then the largest local employer decided to change its compensation scheme to $9. Which of the following compensation schemes could the graph be illustrating?

Correct AnswerverifiedShow Answer

An effective minimum wage law will increase the quantity of labor demanded.

Correct AnswerverifiedShow Answer

According to the signaling theory of education, better-educated workers

Correct AnswerverifiedShow Answer

Sometimes wages are set above the equilibrium level when firms pay

Correct AnswerverifiedShow Answer

Which of the following is an example of human capital for a college economics professor?

Correct AnswerverifiedShow Answer

The signaling theory of education maintains that workers who complete specific levels of education enhance their productivity through education.

Correct AnswerverifiedShow Answer

Figure 19-7 ​ ​ -Refer to Figure 19-7. Given demand, D1, and supply, S1, how much more do workers earn per hour if the supply curve shifts to S2?

Correct AnswerverifiedShow Answer

Correct Answer
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100 fewer ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Figure 19-7 -Refer to Figure 19-7. Given demand, D1, and supply, S1, how much more do workers earn per hour if the supply curve shifts to S2?

Correct Answer
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