Oxford University Press - Online Resource Centres

King: Economics

Chapter 14

Instructions

Answer the following questions and then press 'Submit' to get your score.

Question 1

Which of the following statements about the market demand curve for labour in a competitive labour market is false?

Question 2

Which of these two assumptions must be made if a firm's demand curve for a given type of labour is to be the same as its MRP curve for that labour?
X     No matter what the wage rate is, and no matter how many workers the firm hires, it will always use the same quantity of other inputs.
Y     No matter what the wage rate is, other firms will always hire the same number of workers.

Question 3

Which of the following statements about a firm's demand for labour is false?

Question 4

Two workers, X and Y, are roofers working on the same wage for the same firm. X earns more economic rent than Y. Which of the following statements is false?

Question 5

Which type of workers is most likely to enjoy substantial economic rent?

Question 6

Suppose one type of labour is hired by only one employer. Which of the following statements is false?

Question 7

Which of the following statements about minimum wages is false?

Question 8

Which of the following statements about trade unions is false?

Question 9

Which of the following statements about efficiency wages is false?

Question 10

Which of the following statements about discrimination in labour markets is false?