A college education will more than likely lead to a higher lifetime stream of earnings (all things being equal) for those who obtain one. True  False

In a competitive labour market, an increase in the demand for labour might be due to an increase in the supply of the product that labour produces. supply of labour. wage rate. supply of the other factors. demand for the product that labour produces.

To which of the following job characteristics could the hedonic wage function be applied? a. the degree to which a job involves monotonous work b. the degree to which the area surrounding the job location is safe c. the degree to which a job involves strenuous work d. the probability of being injured on the job e. All of these can be represented with a hedonic wage function.

If the market value of the output of the last worker hired by a firm (VMPL) is higher than the wage paid to the worker, what should the firm do? a.Hire more workers b.Keep the same number of workers c.Lay off workers d.Change its production methods

Classify each statement as true or false. < O Feedback At least one of the statements is Discrimination based on gender, race, or other factors widens classified incorrectly. Pushing people False income gaps by shifting labor supply curves. from job A into job B means fewer available workers in category A and There is an income 'risk premium' for risk-takers, but not all entrepreneurs receive it. more in B. True Having wealthy parents can lead to advantages regarding income. True Answer Bank Requirements for cosmetology licenses, taxi medallions, and admission to the bar for lawyers, all tend to increase wages in those occupations. False True False Because the level of education a person pursues is a personal choice, economists do not emphasize it when analyzing income inequality. True Economists generally do not consider artistic talent as a factor in income inequality. False Incorrect

According to the Department of Labor, what occupation did not require a labor certificate? Group of answer choices A. Farming, fishing and forestry B. Construction and engineering C. Business, management and administration D. Science and medicine

Name one federal statutory law that has put limitations on the employment-at-will doctrine

When workers move from one industry to another in response to demand changes, this is an example of Multiple Choice O factor mobility. the decreasing investment in human capital. capital stock. factor quality.

Discrimination in labor markets arises if education, receive different pay because of their O workers with work experience; race or marital status workers with no experience; race or marital status workers with different skill levels; race or gender workers with the same skill levels; race or gender as measured by

Suppose two households earn $50,000 and $84,000 respectively. What is the expected percent difference in wages between the children, grandchildren, and great-grandchildren of the two households if the intergenerational correlation of earnings is 0.4?  Show your work. Children:  __________________ Grandchildren:  __________________ Great-grandchildren:   __________________