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Micro Chapter 13

In: Business and Management

Submitted By dbtouch
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Microeconomics Chapter 13—Earnings, Productivity, and the Job Market


1. If all persons had identical preferences and productivity factors (ability, skill level, education, experience, etc.), the highest paying jobs would be the most
d.|easily learned.|

ANS: C PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic
TOP: Why Do Earnings Differ? KEY: Bloom's: Comprehension
MSC: Suggested Quiz

2. Automated production methods are only attractive when they
a.|are undertaken in heavily unionized sectors of the economy.|
b.|reduce per-unit costs.|
c.|replace workers.|
d.|decrease labor productivity.|

ANS: B PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic
TOP: The Link between Productivity and Earnings KEY: Bloom's: Comprehension
MSC: Suggested Quiz

3. The fact that some people will work hard to earn a lot of money while others will be content with much less income indicates that
a.|worker preferences are an important source of earning differentials.|
b.|economics ranks one set of worker preferences as more desirable than another.|
c.|some people can be paid less for doing hard work while others have to be paid a premium for doing a similar task.|
d.|skill levels of laborers are a minor consideration in wage rate determination.|

ANS: A PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic
TOP: Why Do Earnings Differ? KEY: Bloom's: Comprehension
MSC: Suggested Quiz

4. Which of the following is most likely to reduce the nominal market wage in a job category?
a.|The job requires employees to work the night shift from 11 p.m. to 7 a.m.|
b.|The job is prestigious, and the work is quite interesting.|
c.|The job is widely viewed as dangerous.|
d.|The job requires employees to move from city to city quite often.|

ANS: B PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic
TOP: Why Do…...

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