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Exam 19: Earnings and Discrimination

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Question 81

Multiple Choice

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When the supply of workers is plentiful,one would predict that market wages would be

A) determined outside the domain of economic theory.
B) determined solely by factors that affect demand.
C) low,other things equal.
D) high,other things equal.

E) A) and B)
F) A) and C)

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Question 82

Multiple Choice

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Which of the following is an example of human capital for a college economics professor?

A) years of experience
B) "clickers" which interface with an in-class computer system and display the results of student "votes"
C) chalk
D) internet access in the classroom

E) None of the above
F) A) and C)

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Question 83

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After graduating from college,you receive job offers from five different accounting firms.All job offers have a different compensation package.Is it irrational for you to accept an offer that doesn't provide the highest level of monetary compensation? Use the concept of compensating differentials to explain your answer.

Evidence of discrimination is most apparent when one compares wages among broad groups.

People are willing to invest in human capital because

Bill and Ted went to trade school at the same time.Each graduated with an associate's degree.They have received similar performance evaluations.Bill's employer is not a good business manager,and the bookkeeper embezzled money from the company.Because of the loss of funds,the employees did not receive raises last year.Ted's employer is a savvy business manager.If Ted has higher earnings than Bill,the difference is most likely a function of

Evaluate the following statement: "The gender pay gap provides evidence of widespread,severe,ongoing discrimination by employers and fellow workers."

In the country of Freedonia,men and women have the same level of education and choose different forms of work in the same proportions.The only real difference is that men typically stay home to raise young children,returning to the work force after their children enter elementary school.If no discrimination exists,then we would expect that,on average,

Which of the following would be considered an investment in human capital?

Efficiency wages may decrease employee turnover.

Which of the following is not an example of a compensating differential? Job A pays more than Job B because Job A requires

The statement that "the rich get richer,and the poor get poorer" is supported by evidence of an expanding wage gap between high-skill and low-skill workers.

Which of the following is an example of human capital?

In what way do competitive markets have a "natural remedy" for discriminatory hiring practices?

Compensating differentials are differences in wages related to the characteristics of a job.

Empirical evidence suggests that ability,effort,and chance are not likely to be significant contributors to wage differences.

Refer to Scenario 19-5.In a competitive market for piano movers,why might Billy's wage differential persist?

Jill is the best eye surgeon in town,and she earns $350,000 a year.Susan is an average eye surgeon in town,and she earns $100,000 a year.Jill's skills as a surgeon

Figure 19-1 -Statistics show that among men,whites are about 75% more likely to have a college degree than blacks.While this statement explains some of the difference in earnings between white men and black men,

Cindy just graduated from a Yale University and has applied for a job at a major consulting firm.The firm decides to offer Cindy a job because they perceive her degree from Yale to be an indication of her high-ability.To which of the following views of education does the consulting firm subscribe?