Question

1. Which of the following factors would not cause the supply of labor to shift?

Select the correct answer below:

a) an increase in the amount of education required to perform a job

b) implementation of a new government program that offers child care benefits to workers

c) an increase in the number of companies producing a certain product

d) All of the above would cause the supply of labor to shift.

2. In the United States, childless women with the same education and experience levels as men are typically paid _______________ men.

Select the correct answer below:

a) less than

b) more than

c) comparably to

d) less frequently than

3. Labor market discrimination arises if workers with the same ___________________ receive different pay or have different job opportunities because of their race or gender.

Select the correct answer below:

a) professional training

b) professional expertise

c) work experience

d) all of the above

4. Which of the following is an example of workers facing a monopsony in the labor market?

Select the correct answer below:

a) fast food workers in New York City

b) school teachers in a suburb of Chicago

c) heart surgeons in a town with one hospital

d) airline workers at a large international airport

5. It is sometimes necessary for an employee to take time off from work to attend to family concerns. A law was passed which allows employees to take up to 12 weeks of unpaid leave per year for family reasons, including birth or family illness. Review the selections below and choose the one which addresses this law.

Select the correct answer below:

a) Family and Medical Leave Act of 1993

b) Fair Labor Standards Act of 1938

c) Worker Adjustment and Retraining Notification Act of 1988

d) Pension Protection Act of 2006

6. The minimum wage is an example of ___________ .

Select the correct answer below:

a) a price ceiling

b) a price floor

c) equilibrium

d) a non-binding wage

7. The university states that emergency medical technicians need to be at all games to tend to medical needs. In the past, a certified athletic trainer would handle such needs. How does this new regulation affect the demand for certified trainers and emergency medical technicians?

Select the correct answer below:

a) The demand for certified trainers will not change, while the demand for emergency medical technicians will increase.

b) The demand for certified trainers and emergency medical technicians will increase.

c) The demand for certified trainers will decrease, and the demand for emergency medical technicians will increase.

d) The need for emergency medical technicians and certified trainers will decrease.

Answer 1

Answer-1 Correct option is c) an increase in the number of companies producing a certain product.

Because it will lead to changes in the labour demand and would not affect labour supply.

Answer-2 Correct option is c) Comparably to

In the United States, childless women with the same education and experience levels as men are typically paid Comparably to men.

Answer- 3 Correct option is D) All of the above

Even with the same professional training, professional expertise and work experience workers get different pay and job opportunity it leads to labor market discrimination due to race and gender.

Answer-4 Correct option is c) heart surgeons in a town with one hospital

Because a monopsony occurs when a firm has market power in employing factors of production (e.g. labour). Due to single hospital in town, it has market power in employing labour.

Answer- Correct option is a) Family and Medical Leave Act of 1993.

The Family and Medical Leave Act of 1993 (FMLA) is a United States labor law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medicaland family reasons.

Answer-6 It is an example of price floor

A minimum wage is the lowest wage per hour that a worker may be paid, as mandated by federal law. The minimum wage is a legally mandated price floor on hourly wages, below which non-exempt workers may not be offered or accept a job.

Answer-7 c) The demand for certified trainers will decrease, and the demand for emergency medical technicians will increase.

Because university made it necessary the presence of emergency medical technician, demand will increase and athletic trainee will fall.