The _______ distance between the demand curve for low-skilled workers and the demand curve for high-skilled workers is the _______.

horizontal; compensation for cost of acquiring skill
vertical; marginal revenue product of skill
horizontal; marginal revenue product of skill
vertical; compensation for cost of acquiring skill

The greater Marg's human capital,

the more competent is she with computers.
the greater is her marginal revenue product.
the less costly is it for her to acquire skills.
the less education and on-the-job training she requires.

A closed shop is an arrangement in which __________________.

only nonunion workers can be employed by a firm
only union workers can be employed by a firm
the employers will not allow a union to enter the firm
a lockout has occurred

A labor union increases wages by ______________________.

having lockouts
restricting the supply of labor and trying to increase the demand for labor
restricting the demand for labor and trying to restrict the supply of labor
using binding arbitration

In a monopsony labor market, the employer hires the quantity of labor where the marginal _______ of labor equals the marginal _______ of labor.

cost; product
cost; revenue product
product; revenue product
revenue; cost

In a bilateral monopoly, the wage rate will be _______ the _______ is the monopsony.

higher; stronger
lower; stronger
lower; weaker
closer to the union rate; stronger

_______ and _______ have the largest consistent wage differential.

Black women; white men
Hispanic women; white men
White women; black women
Hispanic women; black men

Indicators of wage differentials between the sexes in terms of human capital include all of the following except _________________.

years of schooling
degrees of specialization
years of work experience
number of job interruptions

When immigrants come to the United States, the wage rate _______ in the United States and _______ in their native country, but any movement is small.

rises; falls
falls; rises
falls; remains constant
remains constant; rises

Comparable-worth laws create _______ in the jobs on which the market places a lower value and _______ in the jobs on which the market places a higher value.

unemployment; labor shortages
labor shortages; unemployment
equilibrium; labor shortages
unemployment; equilibrium

Please enter your name and press the SEND button