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(Answered)-Question 1 A principal-agent problem occurs when: A. workers and


Question 1

  1. A principal-agent problem occurs when:
    A. workers and firms share the same goals.
    B. the incentives facing a principal encourages him or her to behave in a manner inconsistent with the interests of the agents.
    C. the incentives facing agents encourage them to behave in a manner inconsistent with the interests of the principal.
    D. firm managers have an incentive to maximize profits.
    E. All of the above are correct.
    F. None of the above is correct.


4 points ?


Question 2
  1. A problem with the use of group incentive systems is that they:
    A. encourage workers to focus only on their own performance and not assist other members of the group.
    B. encourage workers to produce more output.
    C. may encourage shirking behavior.
    D. None of the above is correct.

4 points ?



Question 3
  1. Formal contracts are the norm:
    A. for nearly all labor contracts.
    B. only in unionized firms.
    C. only in non-union firms.

4 points ?



Question 4
  1. Both the crowding hypothesis and the dual labor market hypothesis rely on the assumption that workers in different occupations are:
    A. perfect substitutes.
    B. willing and able to move among occupations in response to changes in relative wages.
    C. noncompeting groups.
    D. None of the above is correct.

4 points ?



Question 5
  1. Results found by Groshen, and Solomon and Polachek indicate that most or all of the gender wage gap is the result of:
    A. discrimination.
    B. differences in educational attainment, work experience, and occupational choice.
    C. lower wages received by women in each and every occupation, even when education, work hours, and prior work experience is held constant.
    D. None of the above is correct.

4 points ?



Question 6
  1. Customer discrimination lowers the real incomes of:
    A. customers who discriminate.
    B. members of the group(s) that are the targets of the discrimination.
    C. Both of the above are correct.
    D. None of the above is correct.

4 points ?



Question 7
  1. Most workers are compensated according to a:
    A. piece-rate system
    B. time-based system (either hourly wages or salaries).
    C. Neither of the above is correct.

4 points ?



Question 8
  1. A firm is more likely to offer low starting pay but large pension benefits if:
    A. workers in the firm must possess large investments in firm-specific training.
    B. workers in the firm must posses large investments in general training.
    C. workers can be easily replaced.
    D. None of the above is correct.

4 points ?



Question 9
  1. Statistical discrimination:
    A. is the result of asymmetric information.
    B. may be profitable for a firm.
    C. Both of the above are correct.
    D. None of the above is correct.

4 points ?



Question 10
  1. If the crowding model explains gender wage discrimination, then the introduction of a comparable worth pay system would:
    A. result in shortages in male-dominated professions.
    B. result in an excess supply of labor in female-dominated professions.
    C. would result in an inefficient allocation of labor and a reduction in real GDP.
    D. All of the above are correct.
    E. None of the above is correct.

4 points ?



Question 11
  1. The search-related monopsony explanation of discrimination suggests that members of those groups that are the victims of discrimination face:
    A. higher expected search costs.
    B. lower expected search costs.
    C. the same search costs as members of other groups.
    D. None of the above is correct.

4 points ?



Question 12
  1. An implicit contract:
    A. is not usually self-enforcing.
    B. must provide an incentive for both parties to abide by the implicit terms of the contract.
    C. Both of the above are correct.
    D. None of the above is correct.

4 points ?



Question 13
  1. Discriminatory hiring practices are prohibited under:
    A. the Equal Pay Act of 1963.
    B. Title VII of the Civil Rights Act of 1964.
    C. the Full Employment and Balanced Growth Act of 1947.
    D. None of the above is correct.

4 points ?



Question 14
  1. Firms that rely on internal labor markets often encourage higher levels of effort from workers at lower levels of the hierarchy by:
    A. bringing in new management from outside of the firm.
    B. relying on promotion tournaments.
    C. threatening to provide lower levels of firm-specific training in the future.
    D. None of the above is correct.

4 points ?



Question 15
  1. Which legal standard generally requires an intent to discriminate:
    A. disparate treatment.
    B. disparate impact.
    C. Both of the above are correct.
    D. None of the above is correct.

4 points ?



Question 16
  1. Considering only full-time workers,
    A. males work fewer hours in the paid labor market than do females.
    B. males possess lower levels of average educational attainment.
    C. females possess lower levels of prior work experience.
    D. All of the above are correct.
    E. None of the above is correct.

4 points ?



Question 17
  1. Which of the following seems to be more important in explaining the gender wage gap than in explaining racial differences in wages?
    A. differences in the quality of education.
    B. occupational segregation.
    C. differences in levels of cognitive ability, as measured by IQ or AFQT tests.
    D. None of the above is correct.

4 points ?



Question 18
  1. The efficiency wage model suggests that workers in a high-wage firm will:
    A. work harder than workers in low-wage firms.
    B. be of higher quality than those workers employed in low-wage firms.
    C. will work harder because they perceive that the firm is treating them "fairly."
    D. All of the above are correct.

4 points ?



Question 19
  1. Problems in the use of piece-rate pay systems include:
    A. difficulty in establishing an appropriate rate structure.
    B. this system provides workers with strong incentives to assist co-workers rather than focusing on their own work.
    C. workers may focus too much attention on product quality under such a system.
    D. All of the above are correct.

4 points ?



Question 20
  1. Who receives a lower level of income as a result of employer discrimination?
    A. the owners of the firms that discriminate.
    B. the workers that are the target of the discrimination.
    C. Both of the above are correct.
    D. None of the above is correct.

4 points ?



Question 21
  1. Under the efficiency wage model, higher wage offers:
    A. are inefficient.
    B. have no effect on worker productivity.
    C. allow firms to hire more productive workers.
    D. All of the above are correct.
    E. None of the above is correct.

4 points ?



Question 22
  1. Companies have more flexibility in establishing wage levels in labor markets that:
    A. are characterized by short-term employment relationships.
    B. do not provide any investment in firm-specific training.
    C. offer a substantial portion of compensation in the form of fringe benefits.
    D. All of the above are correct.

4 points ?



Question 23
  1. Discrimination is said to occur when:
    A. males and females receive different wages, even if they have different levels and types of human capital.
    B. members of different ethnic or racial groups receive different wages, even if they have different levels and types of human capital.
    C. individuals receive different wages or job opportunities based on gender, race, age, or any factor other than productivity.
    D. All of the above are correct.
    E. None of the above is correct.

4 points ?



Question 24
  1. Under the efficiency wage model, lower wage rates result in:
    A. a lower level of worker productivity.
    B. a higher level of worker productivity.
    C. no change in the level of worker productivity.
    D. an unpredictable effect on worker productivity.

4 points ?



Question 25
  1. When used to measure gender inequality in occupations, a higher index of dissimilarity indicates that:
    A. there is a larger amount of gender segregation in the labor market.
    B. there is a lower level of gender segregation in the labor market.
    C. there is necessarily a high gender wage differential.
    D. None of the above is correct.


 


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DATE ANSWERED

Oct 07, 2020

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