Exam 11: Labour Markets and the Distribution of Income

A monopsony generally results in a greater number of workers being hired at a higher wage rate.

Several Members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. FIGURE 11-1 -Refer to Figure 11-1. If the government were to impose a wage rate of WA on the computer software programming industry, what would the result in the industry be?

Mr. Calhoun owned land on which cranberries could be grown, but which he had been unable to rent for years. Suddenly he was getting offers from cranberry farmers to lease his land. Which of the following best explains this change in circumstances?

What income groups are most likely to benefit from provincial and federal subsidies to higher education? Why?

Police officers earn higher wages because of the dangers associated with their profession.

If a large number of skilled workers retire at about the same time through early retirements or buyouts, what will happen to the wages of skilled workers, other things being equal?

Which of the following would cause the demand for carpenters to increase?

Evidence suggests that share of income has decreased for the middle class from 1951 to 2000. What has occurred to the share of income for higher-income Canadians and lower-income Canadians during this time period?

Which of the following will NOT result in a leftward shift of the market demand curve for labour?

Which of the following countries shows the greatest degree of income inequality?

Which of the following industries has the lowest rate of unionization in Canada?

Which of the following best illustrates the concept of derived demand?

What does the Canadian poverty rate measure?

If the demand for software engineers increases slower than does supply, what will the effect on the wages of software engineers be?

Several Members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. FIGURE 11-1 -Refer to Figure 11-1. If the wage law were NOT enacted, what would the prevailing wage rate and quantity of labour in the marketplace for K-12 teachers at equilibrium be?

The demand for a productive resource is derived from the demand for the final good or service.

Many economists conclude that in-kind income programs have served to reduce levels of inequality significantly from the levels suggested by aggregate income statistics.

As of 2010, what percentage of Canadian workers belongs to a union?

Poverty can be defined in two ways: using an absolute concept of poverty or a relative concept of poverty.

Differences in age among a population over time can lead to differences in the distribution of income.