Question

Question 1: (This question refers to the MRU video 'The Marginal Product of Labor'.) Firms will continue to hire more employees as long as

Select one:

a. the wage exceeds the marginal cost of production.

b. the product price exceeds the wage.

c. the wage is less than the marginal product of labor.

d. the marginal product of labor is less than the product price.

Question 2 Not yet answered Points out of 1 Not flaggedFlag question Question text (This question refers to the MRU video 'Human Capital and Signaling'.) Which of the following statements, if it were true, would serve as evidence AGAINST the notion that a college degree acts as a signal?

Select one:

a. People with college degrees on average earn about the same income as people who are one credit short of a college degree.

b. People with college degrees on average earn significantly more than people who are one credit short of a college degree.

c. People with college degrees in STEM fields earn about the same as people with degrees in non-STEM fields.

d. People with college degrees on average earn significnatly more than people with no college degree.

Question 3 Not yet answered Points out of 1 Not flaggedFlag question Question text (This question refers to the MRU video 'Do Unions Raise Wages?'.) A comparison of the wages of unionized electricians to the wages of non-unionized electricians reveals that:

Select one:

a. unions can raise wages for some workers.

b. unions are incapable of raising wages for any workers.

c. unions raise wages for all workers.

d. unions do not necessarily raise wages for all workers.

Question 4 Not yet answered Points out of 1 Not flaggedFlag question Question text (This question refers to the MRU video 'Do Unions Raise Wages?'.) Which of the following describes a way in which unions can reduce wages?

Select one:

a. Workers compete with one another for unionized jobs, driving down wages in these jobs.

b. Workers kept out of unionized jobs move to other industries, increasing the labor supply in those industries.

c. Firms expect workers to unionize so they initially offer below-normal wages.

d. Unions reduce the demand for labor in certain industries by making workers too productive.

Question 5 Not yet answered Points out of 1 Not flaggedFlag question Question text (This question refers to the MRU video 'Compensating Differentials'.) What kind of job-related risks are the hardest for the market to deal with?

Select one:

a. Risks that are hidden and that do not occur on the job

b. Risks that are obvious and that occur on the job

c. Risks that are hidden and that occur on the job

d. Risks that are obvious but that do not occur on the job

Answer 1

Answer: 1: firm will continue to hire more employees as long as:

C . wage is less than the marginal product of labor

When wage is less and marginal product of labor is high the employer gets benefit so he hire more employees until both become equal

Answer: 2 the following statements, if it were true, would serve as evidence AGAINST the notion that a college degree acts as a signal:

d. People with college degrees on average earn significantly more than people with no college degree.

Answer: 3: A comparison of the wages of unionized electricians to the wages of non-unionized electricians reveals that:

a. unions can raise wages for some workers.

It will increase wages of those labors who are unionized

Answer: 4 the following describes a way in which unions can reduce wages?

a. Workers compete with one another for unionized jobs, driving down wages in these jobs.

Answer:5 the following kind of job-related risks are the hardest for the market to deal with:

c. Risk that are hidden and that occur on the job