Exam 11: The Labor Market

Which of these would be an example of a segmented markets approach to economic discrimination?

(Table) Based on the table, at what wage rate is the supply curve backward bending? Labor Supply Schedule Wage rate ( \/ hr.) Hours of work (per week) 10 26 15 32 25 36 35 40 45 41 50 38

(Table) Based on the table, the value for A is Competitive Labor Market L Q MPP 0 0 0 8 0 80 1 5 5 8 40 80 2 11 6 8 48 80 3 18 7 8 56 80 4 9 8 72 80 5 38 8 88 80 6 50 12 8 80 7 61 11 8 88 80 8 71 10 8 80 80 9 80 9 8 72 80 10 85 5 8 40 80

Derived demand suggests that

Gary Becker's views regarding economic discrimination include all of these ideas EXCEPT

If the wages of Nike employees increase by 25% and the quantity of labor demanded decreases by 10%, the elasticity of demand for labor is

When Ronald's hourly wage increased from $12 to $15, this allowed him to reduce the number of hours worked so that he can spend more time studying. What is TRUE about Ronald's individual labor supply at this point?

An assumption of the competitive labor market model is that

Which of these would NOT be considered to be leisure?

Which stipulation is the main feature of the Americans with Disabilities Act?

(Figure: Determining Labor and Wages 2) What will the competitive firm in the product market, which is also a monopsony in the input market (as shown in the graph), elect for the number of workers hired and wages paid?

The backward-bending supply curve is a phenomenon that describes the market, not the individual labor supply curve.

Which of these is NOT an assumption of competitive labor markets?

Which president signed an executive order giving federal workers the right to bargain collectively?

Demographic changes have shifted the focus of labor politics from union bargaining to issues such as family-leave policies and how much employers should pay for medical benefits.

If Larry is given a $2-per-hour pay increase, and in response, he decides to work less overtime, then

Which of these statements is true? I. Wisconsin is the only state known to have a governor who has wished to restrict the power of public employee unions. II. Only private-employee unions can call strikes, while public-employee unions tend to contribute less for their health insurance premiums. III. Only public-employee unions can call strikes.

(Figure: Labor Supply Curve) The figure below is a _____ curve.

As more hotels introduce online check-in using mobile devices and keyless room entry, the elasticity of demand for hotel front-desk staff is likely to

A lower elasticity of demand of a product results in a