Question 1

Which of the following will not cause the demand curve for labour to shift?

Accepted Answer

A)  an increase in the productivity of the workers 
B)  a decrease in the demand for the final product 
C)  an increase in the price of a substitute resource 
D)  a decrease in the wage rate 
A)  an increase in the productivity of the workers 
B)  a decrease in the demand for the final product 
C)  an increase in the price of a substitute resource 
D)  a decrease in the wage rate D

Question 2

The demand for a certain group of workers will be more elastic:

Accepted Answer

A)  the more elastic the demand for the product that the workers produce. 
B)  the fewer substitutes there are available for this type of worker. 
C)  the more people there are willing to work at this occupation. 
D)  the smaller the percentage of total costs that labour costs make up. 
A)  the more elastic the demand for the product that the workers produce. 
B)  the fewer substitutes there are available for this type of worker. 
C)  the more people there are willing to work at this occupation. 
D)  the smaller the percentage of total costs that labour costs make up. A

Question 3

Which of the following is consistent with a positively sloped labour supply cure?

Accepted Answer

A)  the substitution and income effects are indeterminate 
B)  the substitution effect is larger than the income effect 
C)  the substitution effect is smaller than the income effect 
D)  the substitution and income effects are equal 
A)  the substitution and income effects are indeterminate 
B)  the substitution effect is larger than the income effect 
C)  the substitution effect is smaller than the income effect 
D)  the substitution and income effects are equal B

Question 4

The procedure whereby a union is given legal authority to bargain for employees of a company is referred to as:

Accepted Answer

A)  conciliation. 
B)  mediation. 
C)  arbitration. 
D)  certification. 
A)  conciliation. 
B)  mediation. 
C)  arbitration. 
D)  certification.

Question 5

The only cabinet company in town hires cabinet makers , this is an example of:

Accepted Answer

A)  perfect competition. 
B)  a monopsony. 
C)  a monopoly. 
D)  derived demand. 
A)  perfect competition. 
B)  a monopsony. 
C)  a monopoly. 
D)  derived demand.

Question 6

A decline in the price of robots used on the assembly line in an automobile factory will:

Accepted Answer

A)  shift the demand curve for cars to the left. 
B)  reduce the productivity of assembly-line workers. 
C)  shift the demand curve for assembly-line workers to the right. 
D)  shift the demand curve for assembly-line workers to the left. 
A)  shift the demand curve for cars to the left. 
B)  reduce the productivity of assembly-line workers. 
C)  shift the demand curve for assembly-line workers to the right. 
D)  shift the demand curve for assembly-line workers to the left.

Question 7

A profit-maximizing firm will hire the number of workers at the point at which:

Accepted Answer

A)  the supply curve intersects the marginal resource cost curve. 
B)  the marginal resource cost curve intersects the marginal product curve. 
C)  the supply curve intersects the marginal revenue product curve. 
D)  the marginal resource cost curve intersects the marginal revenue product curve. 
A)  the supply curve intersects the marginal resource cost curve. 
B)  the marginal resource cost curve intersects the marginal product curve. 
C)  the supply curve intersects the marginal revenue product curve. 
D)  the marginal resource cost curve intersects the marginal revenue product curve.

Question 8

By saying that the demand for any category of labour is a derived demand, we mean that the demand for labour:

Accepted Answer

A)  depends on the availability of other resources. 
B)  depends on the type of competition that the firm finds itself in. 
C)  depends on the consumer demand for the final product. 
D)  depends on the wages paid to these workers. 
A)  depends on the availability of other resources. 
B)  depends on the type of competition that the firm finds itself in. 
C)  depends on the consumer demand for the final product. 
D)  depends on the wages paid to these workers.

Question 9

All collective agreements must contain three articles according to labour-relations legislation. Which of the following articles need not be part of a collective agreement?

Accepted Answer

A)  the company has full authority over the introduction of any technological changes 
B)  there must be no strike or lockout during the life of the collective agreement 
C)  the company must recognize the union as the official bargaining agent for the employees 
D)  the company and the union agree to settle any alleged violation of the agreement by arbitration 
A)  the company has full authority over the introduction of any technological changes 
B)  there must be no strike or lockout during the life of the collective agreement 
C)  the company must recognize the union as the official bargaining agent for the employees 
D)  the company and the union agree to settle any alleged violation of the agreement by arbitration

Question 10

The process whereby employees negotiate together with their employer for improvements in working conditions is referred to as:

Accepted Answer

A)  certification. 
B)  featherbedding. 
C)  closed-shop unionism. 
D)  collective bargaining. 
A)  certification. 
B)  featherbedding. 
C)  closed-shop unionism. 
D)  collective bargaining.

Question 11

Which of the following statements is consistent with pay equity legislation?

Accepted Answer

A)  It reduces unemployment amongst women in the labour force. 
B)  It eliminates any type of wage differential. 
C)  It may reduce the incentive to train for higher-paying jobs. 
D)  It is usually applied the private sector before the public sector. 
A)  It reduces unemployment amongst women in the labour force. 
B)  It eliminates any type of wage differential. 
C)  It may reduce the incentive to train for higher-paying jobs. 
D)  It is usually applied the private sector before the public sector.

Question 12

The main difference between the collective agreement negotiation that takes place in the private sector and the public sector is:

Accepted Answer

A)  the strength of the collective agreements. 
B)  the ability of the employer and bargaining unit to use an arbitrator. 
C)  the ability of the employer to pay for any improvement in working conditions. 
D)  the strength of the different bargaining units. 
A)  the strength of the collective agreements. 
B)  the ability of the employer and bargaining unit to use an arbitrator. 
C)  the ability of the employer to pay for any improvement in working conditions. 
D)  the strength of the different bargaining units.

Question 13

The demand curve for a specific occupation will shift to the right if there is:

Accepted Answer

A)  an increase in the productivity of workers employed in this occupation. 
B)  an increase in the price of a complementary resource. 
C)  a decrease in the demand for the final product. 
D)  a decrease in the price of a substitute resource. 
A)  an increase in the productivity of workers employed in this occupation. 
B)  an increase in the price of a complementary resource. 
C)  a decrease in the demand for the final product. 
D)  a decrease in the price of a substitute resource.

Question 14

Barriers that exist in the labour market help preserve wage differentials between occupations. Which of the following would not be considered a labour-market barrier?

Accepted Answer

A)  unsafe working conditions 
B)  skill requirements 
C)  closed-shop union 
D)  lack of knowledge 
A)  unsafe working conditions 
B)  skill requirements 
C)  closed-shop union 
D)  lack of knowledge

Question 15

The task of the conciliator in the Canadian labour relations scene is to:

Accepted Answer

A)  decide which side to support, the union or management, in a dispute over working conditions. 
B)  determine the wage rates that are part of any collective agreement. 
C)  determine the provisions of a collective agreement when the parties are unable to agree. 
D)  attempt to persuade both parties to soften their positions before a strike or lockout occurs. 
A)  decide which side to support, the union or management, in a dispute over working conditions. 
B)  determine the wage rates that are part of any collective agreement. 
C)  determine the provisions of a collective agreement when the parties are unable to agree. 
D)  attempt to persuade both parties to soften their positions before a strike or lockout occurs.

Question 16

The value of the marginal product is determined by:

Accepted Answer

A)  multiplying the marginal cost by the marginal product. 
B)  multiplying the marginal product by the price of the product. 
C)  multiplying the marginal cost by the price of the product. 
D)  multiplying the marginal revenue by the price of the product. 
A)  multiplying the marginal cost by the marginal product. 
B)  multiplying the marginal product by the price of the product. 
C)  multiplying the marginal cost by the price of the product. 
D)  multiplying the marginal revenue by the price of the product.

Question 17

In perfect competition, a firm interested in maximizing profits will hire workers up to the point at which:

Accepted Answer

A)  the law of diminishing returns sets in. 
B)  the wage rate is equal to the marginal cost. 
C)  the wage rate is equal to the value of the marginal product. 
D)  the value of the marginal product starts to decline. 
A)  the law of diminishing returns sets in. 
B)  the wage rate is equal to the marginal cost. 
C)  the wage rate is equal to the value of the marginal product. 
D)  the value of the marginal product starts to decline.

Question 18

Which of the following tactics cannot be employed by labour unions to increase the demand for the workers that they represent?

Accepted Answer

A)  insisting on high initiation fees for new workers who want to join the union 
B)  pressing the federal government to impose tariffs and quotas on imports 
C)  helping advertise and promote the products made by union members 
D)  negotiating featherbedding provisions in collective agreements 
A)  insisting on high initiation fees for new workers who want to join the union 
B)  pressing the federal government to impose tariffs and quotas on imports 
C)  helping advertise and promote the products made by union members 
D)  negotiating featherbedding provisions in collective agreements

Question 19

What causes the differential between average men's and women's salaries to exist?

Accepted Answer

A)  child status 
B)  marital status 
C)  seniority 
D)  race 
A)  child status 
B)  marital status 
C)  seniority 
D)  race

Question 20

Labour unions will be more successful in achieving wage increases for their members when the demand for labour is:

Accepted Answer

A)  unitary elastic. 
B)  perfectly elastic. 
C)  elastic. 
D)  inelastic. 
A)  unitary elastic. 
B)  perfectly elastic. 
C)  elastic. 
D)  inelastic.

Which of the following will not cause the demand curve for labour to shift?

The demand for a certain group of workers will be more elastic:

Which of the following is consistent with a positively sloped labour supply cure?

The procedure whereby a union is given legal authority to bargain for employees of a company is referred to as:

The only cabinet company in town hires cabinet makers , this is an example of:

A decline in the price of robots used on the assembly line in an automobile factory will:

A profit-maximizing firm will hire the number of workers at the point at which:

By saying that the demand for any category of labour is a derived demand, we mean that the demand for labour:

All collective agreements must contain three articles according to labour-relations legislation. Which of the following articles need not be part of a collective agreement?

The process whereby employees negotiate together with their employer for improvements in working conditions is referred to as:

Which of the following statements is consistent with pay equity legislation?

The main difference between the collective agreement negotiation that takes place in the private sector and the public sector is:

The demand curve for a specific occupation will shift to the right if there is:

Barriers that exist in the labour market help preserve wage differentials between occupations. Which of the following would not be considered a labour-market barrier?

The task of the conciliator in the Canadian labour relations scene is to:

The value of the marginal product is determined by:

In perfect competition, a firm interested in maximizing profits will hire workers up to the point at which:

Which of the following tactics cannot be employed by labour unions to increase the demand for the workers that they represent?

What causes the differential between average men's and women's salaries to exist?

Labour unions will be more successful in achieving wage increases for their members when the demand for labour is:

Introductory Concepts

The Operation of a Market

The Role of Government in a Market Economy

Government in Canada

Economic Indicators

Determination of National Income

Money and the Canadian Banking System

Stabilization Policy

International Economics

Industrial Organization in Canada

Production Costs

Perfect Competition : Theory and Practice

How Imperfect Competition Functions

Filters

Exam 14: The Labour Market

Which of the following will not cause the demand curve for labour to shift?

The demand for a certain group of workers will be more elastic:

Which of the following is consistent with a positively sloped labour supply cure?

The procedure whereby a union is given legal authority to bargain for employees of a company is referred to as:

The only cabinet company in town hires cabinet makers , this is an example of:

A decline in the price of robots used on the assembly line in an automobile factory will:

A profit-maximizing firm will hire the number of workers at the point at which:

By saying that the demand for any category of labour is a derived demand, we mean that the demand for labour:

All collective agreements must contain three articles according to labour-relations legislation. Which of the following articles need not be part of a collective agreement?

The process whereby employees negotiate together with their employer for improvements in working conditions is referred to as:

Which of the following statements is consistent with pay equity legislation?

The main difference between the collective agreement negotiation that takes place in the private sector and the public sector is:

The demand curve for a specific occupation will shift to the right if there is:

Barriers that exist in the labour market help preserve wage differentials between occupations. Which of the following would not be considered a labour-market barrier?

The task of the conciliator in the Canadian labour relations scene is to:

The value of the marginal product is determined by:

In perfect competition, a firm interested in maximizing profits will hire workers up to the point at which:

Which of the following tactics cannot be employed by labour unions to increase the demand for the workers that they represent?

What causes the differential between average men's and women's salaries to exist?

Labour unions will be more successful in achieving wage increases for their members when the demand for labour is:

Introductory Concepts

The Operation of a Market

The Role of Government in a Market Economy

Government in Canada

Economic Indicators

Determination of National Income

Money and the Canadian Banking System

Stabilization Policy

International Economics

Industrial Organization in Canada

Production Costs

Perfect Competition : Theory and Practice

How Imperfect Competition Functions

Filters