Modern Labor Economics, 10E (Ehrenberg/Smith)

Full file at

Modern Labor Economics, 10e (Ehrenberg/Smith)

You can buy the complete file from

Full file at

Chapter 1

You can buy the complete file from

Full file at

Introduction

You can buy the complete file from

Full file at

1)

You can buy the complete file from

Full file at

Labor markets differ from most other markets because

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

contracts exist between buyers and sellers.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

price and quantity information must be exchanged.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

resources are allocated.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

labor services must be rented, not bought or sold.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

D

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

2)

You can buy the complete file from

Full file at

Economists generally assume that

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

people both pursue their objectives in a consistent fashion and are forced to make choices due to scarcity.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

people pursue their objectives in a consistent fashion.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

people are forced to make choices due to scarcity.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

habit-bound people are irrational.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

A

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

3)

You can buy the complete file from

Full file at

Economists generally assume that workers maximize

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

their income.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

their leisure time.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

their utility.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

their nonpecuniary benefits.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

C

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

4)

You can buy the complete file from

Full file at

Economic rationality

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

implies that people have an objective and pursue it in a consistent fashion.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

implies that people's behavior does not adapt when incentives change.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

implies that there is no such thing as a free lunch.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

can be directly proven.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

A

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

5)

You can buy the complete file from

Full file at

If there are costs associated with employee turnover, and to reduce these costs, a firm increases the wage it pays its employees, then

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

the firm's profits must decrease.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

the firm's profits must increase if turnover costs fall.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

the firm's profits must increase if the turnover rate falls by three percent or more.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

the firm's profits could increase or decrease, depending on the amount in the wage increase and the change in the turnover rate.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

D

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

6)

You can buy the complete file from

Full file at

Redistributional transactions

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

are never voluntary.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

should not occur.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

are usually facilitated by the government.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

are not Pareto efficient.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

C

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

7)

You can buy the complete file from

Full file at

Which of these is an example of the FAILURE of the market to achieve economic efficiency?

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

Firms and employees successfully achieving all mutually beneficial transactions.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

Alpha Industries is willing to pay $55,000 per year to hire a computer programmer. Dean, a qualified computer programmer, would gladly give up his job as a waiter for a computer programming job paying at least $45,000, but is unaware of Alpha's opening.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

Laura refuses to quit smoking even though Marlene offers her $1 per hour to stop.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

Ace Engineering is willing to pay Diane $11 per hour, but Diane is willing to work for $10 per hour, so Ace hires her for only $10 per hour.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

B

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

8)

You can buy the complete file from

Full file at

Public goods are

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

goods donated by their owner for public use.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

goods that are available to an additional consumer at no cost.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

goods that are not scarce.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

goods that can only be produced by the government.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

B

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

9)

You can buy the complete file from

Full file at

Nonpecuniary factors do NOT include

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

a worker's hourly wage rate.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

eyestrain caused by having to stare continually at a computer terminal.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

an inflexible work schedule that requires commuting during the worst rush-hour traffic.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

annoyance caused by a rude co-worker.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

A

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

10)

You can buy the complete file from

Full file at

Pareto efficiency implies that

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

all legal transactions have taken place.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

the distribution of income is equitable.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

all mutually beneficial transactions have taken place.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

only people facing price distortions still wish to undertake transactions.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

C

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

11)

You can buy the complete file from

Full file at

It has been said that "Paul will rarely complain about a plan that takes money from Peter to pay Paul." This suggests that redistributional transactions are usually

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

mutually beneficial transactions.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

the result of government mandates.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

voluntary transactions.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

illegal transactions.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

B

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

12)

You can buy the complete file from

Full file at

If all parties gain from a transaction,

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

the government must mandate that transaction.

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

the transaction must be a Pareto improvement.

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

the transaction will not be voluntary for some parties.

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

the transaction will be redistributional.

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

B

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

13)

You can buy the complete file from

Full file at

Which of the following will NOT prevent a mutually beneficial transaction from occurring?

You can buy the complete file from

Full file at

A)

You can buy the complete file from

Full file at

the fact that one party's utility will be decreased by the transaction

You can buy the complete file from

Full file at

B)

You can buy the complete file from

Full file at

ignorance about availability of a service or product

You can buy the complete file from

Full file at

C)

You can buy the complete file from

Full file at

a law against overtime work

You can buy the complete file from

Full file at

D)

You can buy the complete file from

Full file at

a tax on labor services

You can buy the complete file from

Full file at

Answer:

You can buy the complete file from

Full file at

A

You can buy the complete file from

Full file at

Question Status:

You can buy the complete file from

Full file at

Previous Edition

You can buy the complete file from

Full file at

14)