Question 1

The provincial government creates make-work projects for railway industries is referred to as:

Accepted Answer

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

Question 2

Assume that the steel workers' union is successful in obtaining a 10 percent wage increase from its employers. This wage increase will result in higher prices for steel. Employment in the steel industry will decline the most if:

Accepted Answer

A)  there are a large number of substitutes for steel. 
B)  the demand for Canadian-made steel is relatively inelastic. 
C)  Canadians have no preference for using Canadian-made steel over imported steel. 
D)  the supply of foreign-made steel is relatively inelastic. 
A)  there are a large number of substitutes for steel. 
B)  the demand for Canadian-made steel is relatively inelastic. 
C)  Canadians have no preference for using Canadian-made steel over imported steel. 
D)  the supply of foreign-made steel is relatively inelastic.

Question 3

The total cost of 4 workers is $800 per day, if the total cost of 5 workers is $950 per day what is the marginal-resource cost of the 5 worker?

Accepted Answer

A)  $200 
B)  $195 
C)  $190 
D)  $150 
A)  $200 
B)  $195 
C)  $190 
D)  $150

Question 4

The addition to total production as a result of hiring one more employee is referred to as:

Accepted Answer

A)  marginal product. 
B)  marginal cost. 
C)  marginal revenue. 
D)  marginal revenue product. 
A)  marginal product. 
B)  marginal cost. 
C)  marginal revenue. 
D)  marginal revenue product.

Question 5

All collective agreements contain three main articles, which of the following is not one of these?

Accepted Answer

A)  the company and the union agree to settle any alleged violation of the agreement by arbitration 
B)  the company must set out an amount of vacation pay that the employee is entitled to 
C)  the company must recognize the union as the official bargaining agent for the employees 
D)  there must be no strike or lockout during the life of the collective agreement 
A)  the company and the union agree to settle any alleged violation of the agreement by arbitration 
B)  the company must set out an amount of vacation pay that the employee is entitled to 
C)  the company must recognize the union as the official bargaining agent for the employees 
D)  there must be no strike or lockout during the life of the collective agreement

Question 6

The impact of payroll taxes may be greater for small businesses than for large businesses because:

Accepted Answer

A)  unionization has a large presence in small businesses. 
B)  payroll taxes constitute a larger portion of total taxes. 
C)  small business tend to be less labour intensive. 
D)  small businesses tend to have more high-skilled workers. 
A)  unionization has a large presence in small businesses. 
B)  payroll taxes constitute a larger portion of total taxes. 
C)  small business tend to be less labour intensive. 
D)  small businesses tend to have more high-skilled workers.

Question 7

Which of the following would be best described as a craft union?

Accepted Answer

A)  Canadian Union of Public Employees 
B)  the chemical workers 
C)  the steel workers 
D)  the electricians 
A)  Canadian Union of Public Employees 
B)  the chemical workers 
C)  the steel workers 
D)  the electricians

Question 8

In order to acquire certification, a union must get at least what percentage of employees to agree To union membership?

Accepted Answer

A)  75 percent 
B)  65 percent 
C)  50 percent 
D)  55 percent 
A)  75 percent 
B)  65 percent 
C)  50 percent 
D)  55 percent

Question 9

If there were no labour-market barriers, wages would still not be identical for all occupations because of:

Accepted Answer

A)  differences in the elasticity of demand for each occupation. 
B)  differences in the union status of various occupations. 
C)  differences in demand and supply for each occupation. 
D)  differences in the attractiveness of various occupations. 
A)  differences in the elasticity of demand for each occupation. 
B)  differences in the union status of various occupations. 
C)  differences in demand and supply for each occupation. 
D)  differences in the attractiveness of various occupations.

Question 10

The labour supply is backward bending because:

Accepted Answer

A)  workers, beyond a certain point, reduce the hours of work with higher pay. 
B)  workers are always willing to increase hours of work with higher pay. 
C)  workers, beyond a certain point, increase the hours of work with higher pay. 
D)  workers are always willing to decrease hours of work with higher pay. 
A)  workers, beyond a certain point, reduce the hours of work with higher pay. 
B)  workers are always willing to increase hours of work with higher pay. 
C)  workers, beyond a certain point, increase the hours of work with higher pay. 
D)  workers are always willing to decrease hours of work with higher pay.

Question 11

Which of the following will increase the wage rate paid to plumbers?

Accepted Answer

A)  an increase in the demand for houses 
B)  an increase in the supply of plumbers 
C)  a decrease in the demand for office complexes 
D)  the development of easy-to-use plastic pipe 
A)  an increase in the demand for houses 
B)  an increase in the supply of plumbers 
C)  a decrease in the demand for office complexes 
D)  the development of easy-to-use plastic pipe

Question 12

In response to a wage rate increase:

Accepted Answer

A)  the income effect encourages you to work more hours. 
B)  both the income and substitution effects encourage you to work fewer hours. 
C)  both the income and substitution effects encourage you to work more hours. 
D)  the substitution effect encourages you to work more hours. 
A)  the income effect encourages you to work more hours. 
B)  both the income and substitution effects encourage you to work fewer hours. 
C)  both the income and substitution effects encourage you to work more hours. 
D)  the substitution effect encourages you to work more hours.

Question 13

The quantity of labour supplied to an occupation is:

Accepted Answer

A)  dependent on the resources used with this occupation. 
B)  independent of the wage rate. 
C)  greater at higher wage rates. 
D)  always elastic with respect to price. 
A)  dependent on the resources used with this occupation. 
B)  independent of the wage rate. 
C)  greater at higher wage rates. 
D)  always elastic with respect to price.

Question 14

The demand for a certain occupation will be more inelastic:

Accepted Answer

A)  if there are only a few workers eligible to work at this occupation. 
B)  the fewer substitutes there are available for this type of worker. 
C)  the more elastic the demand for the product that the workers produce. 
D)  the greater the percentage of total costs that labour costs make up. 
A)  if there are only a few workers eligible to work at this occupation. 
B)  the fewer substitutes there are available for this type of worker. 
C)  the more elastic the demand for the product that the workers produce. 
D)  the greater the percentage of total costs that labour costs make up.

Question 15

Increases in the minimum wage will have the least impact on employment when the demand for Labour is:

Accepted Answer

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

Question 16

The total cost of 4 workers is $800 per day, if the marginal-resource cost of the 5th worker is $150 per day what is the total cost of 5 workers?

Accepted Answer

A)  $800 
B)  $750 
C)  $950 
D)  none of the above 
A)  $800 
B)  $750 
C)  $950 
D)  none of the above

Question 17

As more workers are hired by the firm, the marginal product of each worker will eventually Begin to decline. This is a result of:

Accepted Answer

A)  derived demand. 
B)  diminishing returns. 
C)  specialization. 
D)  diseconomies of scale. 
A)  derived demand. 
B)  diminishing returns. 
C)  specialization. 
D)  diseconomies of scale.

Question 18

The imposition of a payroll tax:

Accepted Answer

A)  shifts the demand curve for labour to the right. 
B)  shifts the supply curve for labour to the right. 
C)  shifts the demand curve for labour to the left. 
D)  shifts the supply curve for labour to the left. 
A)  shifts the demand curve for labour to the right. 
B)  shifts the supply curve for labour to the right. 
C)  shifts the demand curve for labour to the left. 
D)  shifts the supply curve for labour to the left.

Question 19

The main technique that industrial unions use to obtain wage increases for their members is:

Accepted Answer

A)  promoting the product that they produce. 
B)  lobbying the federal government for limits on immigration. 
C)  insisting on long apprenticeships. 
D)  threatening to go out on strike if their contract demands are not met. 
A)  promoting the product that they produce. 
B)  lobbying the federal government for limits on immigration. 
C)  insisting on long apprenticeships. 
D)  threatening to go out on strike if their contract demands are not met.

Question 20

The firm's demand curve for a specific occupation is represented by:

Accepted Answer

A)  the marginal product of each worker hired multiplied by the marginal product of the other resources that the firm purchases. 
B)  the marginal product of each worker hired multiplied by the marginal revenue. 
C)  the marginal cost of each worker hired multiplied by the wage rate. 
D)  the demand curve for the product multiplied by the wage rate. 
A)  the marginal product of each worker hired multiplied by the marginal product of the other resources that the firm purchases. 
B)  the marginal product of each worker hired multiplied by the marginal revenue. 
C)  the marginal cost of each worker hired multiplied by the wage rate. 
D)  the demand curve for the product multiplied by the wage rate.

The provincial government creates make-work projects for railway industries is referred to as:

Assume that the steel workers' union is successful in obtaining a 10 percent wage increase from its employers. This wage increase will result in higher prices for steel. Employment in the steel industry will decline the most if:

The total cost of 4 workers is $800 per day, if the total cost of 5 workers is $950 per day what is the marginal-resource cost of the 5 worker?

The addition to total production as a result of hiring one more employee is referred to as:

All collective agreements contain three main articles, which of the following is not one of these?

The impact of payroll taxes may be greater for small businesses than for large businesses because:

Which of the following would be best described as a craft union?

In order to acquire certification, a union must get at least what percentage of employees to agree To union membership?

If there were no labour-market barriers, wages would still not be identical for all occupations because of:

The labour supply is backward bending because:

Which of the following will increase the wage rate paid to plumbers?

In response to a wage rate increase:

The quantity of labour supplied to an occupation is:

The demand for a certain occupation will be more inelastic:

Increases in the minimum wage will have the least impact on employment when the demand for Labour is:

The total cost of 4 workers is $800 per day, if the marginal-resource cost of the 5th worker is $150 per day what is the total cost of 5 workers?

As more workers are hired by the firm, the marginal product of each worker will eventually Begin to decline. This is a result of:

The imposition of a payroll tax:

The main technique that industrial unions use to obtain wage increases for their members is:

The firm's demand curve for a specific occupation is represented by:

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

The provincial government creates make-work projects for railway industries is referred to as:

Assume that the steel workers' union is successful in obtaining a 10 percent wage increase from its employers. This wage increase will result in higher prices for steel. Employment in the steel industry will decline the most if:

The total cost of 4 workers is $800 per day, if the total cost of 5 workers is $950 per day what is the marginal-resource cost of the 5 worker?

The addition to total production as a result of hiring one more employee is referred to as:

All collective agreements contain three main articles, which of the following is not one of these?

The impact of payroll taxes may be greater for small businesses than for large businesses because:

Which of the following would be best described as a craft union?

In order to acquire certification, a union must get at least what percentage of employees to agree To union membership?

If there were no labour-market barriers, wages would still not be identical for all occupations because of:

The labour supply is backward bending because:

Which of the following will increase the wage rate paid to plumbers?

In response to a wage rate increase:

The quantity of labour supplied to an occupation is:

The demand for a certain occupation will be more inelastic:

Increases in the minimum wage will have the least impact on employment when the demand for Labour is:

The total cost of 4 workers is $800 per day, if the marginal-resource cost of the 5th worker is $150 per day what is the total cost of 5 workers?

As more workers are hired by the firm, the marginal product of each worker will eventually Begin to decline. This is a result of:

The imposition of a payroll tax:

The main technique that industrial unions use to obtain wage increases for their members is:

The firm's demand curve for a specific occupation is represented by:

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