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| economics help? 1. Historical data that shows a declining work week along with rising real wages are probably reflecting a. minimum wage laws b. the income effect of higher wages c. the substitution effect of higher wages d. the Taft-Hartley Act 2. The dramatic reduction in the proportion of the labor force in agriculture over the past 200 years reflects a. a decline in the demand for food b. increased foreign competition c. government policies that have discriminated against agriculture d. the increased productivity of farm workers 3. In recent years the income premium for college graduates over high school graduates has a. narrowed b. stayed about the same c. increased d. fluctuated with little trend 4. Human capital theory explains the correlation between education and wages as the result of a. learning in school that enhances productivity b. sorting by social class c. the dual labor market d. the growing influence of white-collar unions 5. If one company is the sole employer of labor, it is called a(n) a. arbitrator b. monopolist c. oligopolist d. monopsonist 6. Which of the following are examples of Mediation? _______ Arbitration? _______ Strike? _______ a. Public school teachers and the local school board, unable to reach an agreement, consent to accept the determination of a three person board. b. The United Mine Workers start picketing after contract negotiations fail. c. In an attempt to avert a pilot’s strike, the Secretary of Labor appoints someone to help American Airlines and its pilots to resolve their differences. |
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