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Summary Test bank for Labor Economics 8th Edition by George Borjas
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full download please contact u84757@protonmail.comLabor Economics, 8e (Borjas)
Chapter 1 Introduction to Labor Economics
1) Which is not a decision made by potential workers in the United States?
A) deciding whether or not to participate in the labor force
B) determining how to divide one's time between work and leisure
C) choosing how much to produce to maximize firm profit
D) choosing how much education to receive
E) deciding which occupation to pursue
2) Which of the following is not a leading actor in labor markets?
A) consumers
B) firms
C) workers
D) government
E) unions
3) The labor demand curve shows how many workers the firm is willing to hire
A) at any particular time.
B) at a particular amount of labor supplied.
C) at any given wage.
D) into high-skill jobs.
E) when demand for the firm's output is low.
4) An outward shift in the labor demand curve implies that
A) employers are now looking to hire more workers at any given wage.
B) employers are now looking to hire fewer workers if the wage decreases.
C) employers are now looking to hire fewer workers regardless of the wage.
D) demand for the firm's output likely fell.
E) a greater number of workers are now more willing to work at any given wage.
5) The labor supply curve shows how many workers are willing to work
A) in a particular industry.
B) at any given time.
C) at the minimum wage.
D) at any given wage.
E) in order to maximize the firm's profit.
6) An upward-sloping labor supply curve implies that
A) a firm can always hire more workers, even without increasing the wage.
B) more workers are willing work when wages are low.
C) more workers are willing to work as the market wage increases.
D) the labor supply is fixed.
E) there is a continuously increasing demand for labor.
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full download please contact u84757@protonmail.com
, full download please contact u84757@protonmail.com
7) Labor economics concerns
A) how labor markets work.
B) the study of education decisions.
C) the study of how households decide where to live.
D) the study of income inequality.
E) All of these are labor economics concerns.
8) A firm's labor demand curve is typically
A) a vertical line.
B) a horizontal line.
C) upward sloping.
D) downward sloping.
E) associated with a slope equal in absolute value to the slope of the labor supply curve.
9) The typical labor supply curve
A) is u-shaped.
B) equals the marginal product of labor.
C) slopes up.
D) slopes down.
E) depends on the size of the firm.
10) Which of the following affects the wage a firm is willing to pay its workers?
A) the productivity of workers
B) consumer demand for the goods and/or services that the firm creates
C) the amount of fringe benefits the firm is required by law to pay
D) the level of payroll taxes the firm must pay
E) All of the above affect the wage a firm is willing to pay its workers.
11) Which of the following affects a person's decision to work?
A) the price of consumption goods relative to the wage
B) the person's income from nonlabor sources
C) how much the person enjoys working
D) the amount of fringe benefits offered to the person
E) All of the above affect a person's decision to work.
12) Labor market equilibrium is best characterized by
A) a wage at which all people have a job.
B) a wage at which all workers are above the poverty level.
C) a wage at which the number of people willing to work equals the number of workers firms are
willing to hire.
D) a minimum wage at which everyone is willing to work.
E) all workers receiving their ideal wage.
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full download please contact u84757@protonmail.com
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