Exam 11: The Labor Market

Which piece of legislation ended "closed shops" in the American workplace?

Which type of unionized workplace was ended by the Taft-Hartley Act?

Which economist stated, "The only solution to exploitation is revolution"?

Which statement concerning possible changes in productivity is TRUE?

A labor market with one employer is a monopsony.

If workers' skills are transferable to other jobs, then the wages paid in that market will not affect wages paid in other markets.

An increase in the demand for a firm's product will increase the

Union membership has increased significantly since the 1950s.

Private unions can call strikes, but many public-employee unions cannot.

The insider-outsider theory of segmented labor markets states that wage discrimination is a factor of changing "tastes" for discrimination.

Reality television has increased the demand for television entertainers.

In a segmented labor market as shown in the graph, the wage gap between the two markets is represented as

Which antidiscrimination act was signed most recently?

Teacher salaries are 70% of the cost of educating a sixth grader. The demand for teachers is most likely to be

Union wage effects are MOST pronounced among

Trevan is a new hire at a factory in Indiana. He was told that he has 30 days to join the union. His workplace is a(n) _____ shop.

If robots are developed that can cheaply reproduce themselves, then the demand for human labor will become

If nineteen workers are each paid $10 an hour and hiring the twentieth worker requires that all workers be paid $11 an hour, the marginal factor cost of the twentieth worker is $1.

In recent years, the United States has produced a growing share of intangible services.

Segmented labor market theories predict that