劳动经济学Multiple Choice Quiz of labor economics.docx

劳动经济学Multiple Choice Quiz of labor economics.docx

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劳动经济学MultipleChoiceQuizoflaboreconomics

Chapter1Introduction

►Normativeeconomicsanalyzes（4）

1.Whatis.

2.Whatmaybe.

3.Whatwillneverbe.

4.Whatshouldbe.

►Whatisthemostall-pervasiveassumptionunderlyingeconomictheory?

（4）

1.Equilibrium.

2.Thatindividuals’tastesandpreferencesareunchanging.

3.Thatworkersarenecessarilyexploitedinacapitalist（资本主义的）system.

4.Scarcity.

►Whenanalyzingpersons,economistsconsideraperson'sprimaryobjectivetobe（4）

1.Possession（财产）maximization.

2.Profitmaximization.

3.Wallowinginself-pity（自怜,自哀）.

4.Utilitymaximization

►ParetoEfficiencyimpliesthat（4）

1.Nobodyactsasafreeriderforpublicgoods.

2.Allfirmsaremaximizingtheirproductioncosts.

3.Itisimpossibleforfirmstoproduceatfullcapacityinthepresenceofgovernmentintervention.

4.Allmutually-beneficialtransactionshavebeencompleted.

►Whichofthefollowingcouldnotbeapublicgood?

（2）

1.Aninterstatehighway（州际公路）.

2.Abaseballglove（棒球手套）.

3.Abeach（海滩）.

4.Nationaldefense.

►Whichofthefollowingisnotanexampleofmarketfailure?

（4）

1.Nonexistenceofmarkets.

2.Pricedistortions.

3.Ignorance.

4.Perfectinformation

►Intheequation,L=50+0.3W,theslopeofthelineis

（1）

1.+0.3

2.Indeterminate（不确定的,模糊的）,becausewedonotknowthevalueofW.

3.50

4.-0.3

►Onewayatransactioncanbeunanimously（全体一致地,无异议地）supportediswhen（3）

1.JoewinsbutSueloses.

2.Somegainandsomelosefromthetransaction;howeverthegainersdonotfullycompensatethelosers.

3.Allpartiesaffectedbythetransactiongain.

4.Allpartiesaffectedbythetransactionlose.

►One’sworkingconditionsotherthan（不同于,除了）theirwageareknownas（3）

1.Slavery（束缚）factors.

2.Monetaryfactors.

3.Nonpecuniary（非金钱的）factors.

4.Productmarketfactors.

Chapter2:

TheLaborMarket

►Whenaformalsetofrulesandproceduresguidesandconstrainstheemploymentrelationshipwithinafirm,whattypeoflabormarketissaidtoexist?

（1）

1.Aninternallabormarket.

2.Anopecuniarylabormarket.

3.Anexternallabormarket.

4.Anationallabormarket.

►Tobecountedasoneoftheofficialunemployed,oneneedstobe:

（1）

1.16orolderandactivelyseekingemployment.

2.16orolderandincarceratedinacorrectionsfacility.

3.Under16andafull-timestudent.

4.16orolderandnotseekingemployment.

►Whichofthefollowingpersonsisnotconsideredapartofthelaborforce?

（3）

1.Arecently-divorced30-year-oldhousewifewhoisactivelyseekingherfirstjob.

2.A19-year-oldpart-timedishwasher.

3.A59-year-oldformernuclearphysicistwho,afterbeingdismissedfromhispriorjob,gotsofedupwithnotbeingabletofindajobworthyofhimthathequitlookingforworkthreeyearsago.

4.A45-year-oldsecretarywhogotdischargedFridaymorningandwentlookingfornewworkthatafternoon.

►Whichgrouphasdemonstratedthemostdramaticincreaseinitslaborforceparticipationratesince1950?

（2）

1.Thelaborforceparticipationratehasnotchangedsignificantlyforanygroupsince1950.

2.Women.3.Children.4.Men.

►Whichsectoroftheeconomyhasshownthegreatestpercentagereductioninemploymentsince1900?

（2）

1.Manufacturing（goods-producing）.2.Agriculture.3.Services.4.Government.

►DuringwhichdecadedidtheU.S.unemploymentratehititscentury-longpeak?

（2）

1.1920s.2.1930s.3.1960s.4.1970s.

►Aperson’srealwagesare

（2）

1.Alwaysequaltotheirnominalwages.

2.Nominalwagesdividedbysomeindexofprices.

3.Whatisreallyreportedontheirpaycheckaftertaxeshavebeentakenout.

4.Thesamethingastheirdiscretionaryincome（可随意支配的收入）.

►Whichisnotanexampleofpaymentin-kindtoanemployee?

（3）

1.Freemembershiptothecompany’shealthclub.

2.Employer-providedhealthcare.

3.AChristmasbonusof$100cash.

4.Paidvacationtime.

►Whorepresentsthesupplysideofthelabormarket?

（3）

1.Government.

2.Firms.

3.Workersandpotentialworkers

4.Alloftheabove.

►Atthemarket-clearingwagerate（3）

1.Thereisanexcessdemandforlabor.

2.Thereisanexcesssupplyoflabor.

3.Demandforlaborequalssupplyoflabor.

4.Unintendedinventoryaccumulationwillnecessarilyresultintheoutputmarket.

Chapter3:

LaborDemandintheLongRun

►Wheneconomistsrefertolabordemandasaderiveddemand,theymean:

（4）

1.Itsdemandisderivedfromsupply.

2.Itsdemandisderivedfromthehistoricalprecedentofcompensationforcomparablejobs.

3.Itsdemandisfoundbytakingthefirstderivativeofthetotalrevenuefunction.

4.Itsdemandisderivedfromthedemandforthegoodorserviceworkerscontributetoproducing

►Firms’primaryobjectiveis:

（3）

1.Utilitymaximization.

2.Outputmaximization.

3.Profitmaximization.

4.Respectmaximization

►Theprofit-maximizingoutputwillalwaysoccurwhere:

（2）

1.Totalrevenueequaltotalcosts.

2.Marginalrevenueequalsmarginalcosts.

3.Afirm’scustomergoodwillismaximized.

4.Averagerevenueequalsaveragecosts.

►TheMarginalProductofLabor（MPL）representsthe:

（4）

1.Additionalsalesgeneratedbyincreasinglaborbyoneunit.

2.

2.Additionaloutputgeneratedbyincreasingcapitalbyoneunit.

3.Additionaloutputgeneratedbyincreasingbothlaborandcapitalsuchthatthefactorproportionsusedintheproductionprocessareunaltered.

4.Additionaloutputgeneratedbyincreasinglaborbyoneunit.

►Acriticalassumptioneconomistsmakeabouttherelationshipbetweenthequantityoflaborhiredandthemarginalproductoflaboristhat:

（3）

1.TheMPLincreasesasadditionalunitsoflaborareaddedtotheproductionprocess.

2.Thetwovariablesaretotallyunrelated.

3.TheMPLdiminishesasadditionalunitsoflaborareaddedtotheproductionprocess.

4.TheMPLdiminishestoanirreducibleminimum,thenincreases（i.e.,theMPLcurveisu-shaped）.

►Iftwoinputs（capitalandlabor）aregrosssubstitutesintheproductionprocess,anincreaseinthepriceoflaborwillhavewhatimpactonthemarketforcapital?

（3）

1.Thecapitalmarketwillonlybeaffectedifentrepreneurialabilityisnotaninputintheproductionprocess.

2.Thepriceofcapitalwillnecessarilyfallaswell.

3.Thedemandcurveforlaborwillshiftoutward.

4.Thedemandcurveforlaborwillshiftinward.

►Thewordmonophonymeans:

（1）

1.Onebuyer.

2.Onelove.

3.Oneseller.

4.Onemarket.

►Inamonopolisticlabormarket:

（3）

1.

1.Thereisnooneprofit-maximizingquantityoflaborthefirmshouldhire.

2.

Themarginalrevenueproductoflaborcurvewillnecessarilybehorizontal.

3.Themarginalexpenseoflaborcurveliesabovethelaborsupplycurve.

4.Themarginalexpenseoflaborcurveisthelaborsupplycurve.

►Amonopolistpaysawage:

（4）

1.Equaltothemarginalrevenueproductoflabor.

2.Betweenthewagedeterminedinacompetitivemarketandthemarginalexpenseoflabor.

3.Lowerthanthegovernment-mandatedminimumwage.

4.Lowerthanthewagedeterminedinacompetitivelabormarket

►Inwhichcaseisthetotalamountofapayrolltaxpaidbyemployeesthroughlowerwages?

（1）

1.Whenthelaborsupplycurveisvertical.

2.Whenthelaborsupplycurveishorizontal.

3.Whenthelaborsupplycurveisupward-slopingata45-degreeangle.

4.Whenthelaborsupplycurveisdownward-slopingandintersectsthelabordemandcurvealongthex-axis.

Chapter4:

LaborDemandElasticities

►EconomistscategorizedasBigResponders（3）

1.

1.Believethatresponsestopriceincentivesarenonexistent

2..

2.

3.

4.

5.

6.

7.

8.

9.Gointoanemotionalrageoveranycontroversialquestionthatarises.

10.

3.Believethatresponsestopriceincentivesaregenerallylarge.

4.Believethatresponsestopriceincentivesaregenerallysmall.

►Thegreatertheabsolutevalueoftheown-wagelaborelasticityofdemand（4）

1.Thegreateristheimpactontheoutputmarketassociatedwithanygivenpercentageincreaseinwages.

2.Thegreatertheratioofuniontonon-unionwagesbecomes.

3.Thesmalleristhepercentagedeclineinemploymentassociatedwithanygivenpercentageincreaseinwages.

4.Thelargeristhepercentagedeclineinemploymentassociatedwithanygivenpercentageincreaseinwages.

►Asonemovesdown（totheright）alabordemandcurve,whathappenstotheabsolutevalueoftheelasticityofdemand?

（4）

1.

1.Itincreases.

2.

2.Itremainsunchangedalongalineardemandcurve.

3.

3.Itreacheszeroatthemidpoint.

4.Itdecreases.

►Thefourlawsofderiveddemandweredevelopedby

（2）

1.

1.KeynesandSmith.

2.

2.HicksandMarshall.

3.CobbandDouglas.

4.LeontiefandGalbraith

►Thegreatertheeasewithwhichfirmscansubstituteacrossfactorsofproductioninproducingtheiroutput

（1）

1.Thehigherthewageelasticityoflabordemand.

2.Thelowerthewageelasticityoflabordemand.

3.Themorelikelytheyaretouseafixedratioofcapital-to-laborintheproductionprocess

4.Thegreatertheshiftofthelabordemandcurve.

►Thelaborscaleeffectreferstothepercentagechangeinemploymentassociatedwithagivenpercentagechangeinwagesholding（3）constant:

1.Entrepreneuralability.

2.Outputprices.

3.Capital.

4.Labor.

►

Inwhichtypeoflabormarketmighttheformationofaunionbethemostbeneficialtoitsmembers?

（3）

1.Oneinwhichthereiszeroquantitydemandedforthefinalproducttheyproduce.

2.Oneinwhichthelabordemandcurveiselastic.

3.Oneinwhichthelabordemandcurveisinelastic.

4.Oneinwhichlaborunionsareillegal.

Chapter5:

Nonwagelaborcosts

►Tominimizeproductioncosts,firmsshouldequate（3）acrossallemployees.

1.Quasi-fixedandfixedcosts.

2.Theratioofoutputpricestoaveragefactorcosts.

3.Theratioofmarginalexpe