Which of the following is true regarding the earning of attractive versus unattractive workers ?

A. Attractive people tend to earn less because attractive people are viewed as shallow and more self-absorbed and therefore, as less productive
B. Attractive people tend to earn more because they may actually have a larger value of marginal product
C. Attractive people tend to earn more because attractive people usually have greater human capital
D. Attractive people tend to earn less because attractive people usually have less human capital

If two jobs require the same amount of skills and experience the job that pays the most is most likely to be the one that is ?

A. Unpleasant
B. All these answers
C. Safe
D. Fun

Which of the following is not a reason why some workers are paid above the equilibrium wage ?

A. Minimum-wage laws
B. Efficiency wages
C. Unions
D. Beauty

Competitive markets tend to ?

A. Increase labor market discrimination because some workers can charge more for their services than other workers in a competitive market
B. Have no impact on labour market discrimination
C. Reduce labour market discrimination because non-discrimination firms will employ cheaper labour earn more profits and drive discriminating firms out of the market
D. Increase labour market discrimination because bigoted employers can charge any price they want in a competitive market to cover the cost of their discrimination

In order for a market to support superstars it must have which of the following characteristics ?

A. It must be involved in professional athletics
B. Every customer must be indifferent to the price they pay, and the seller must be a competitor in the market for the product
C. Every customer must be willing to pay an enormous amount for the product and the product must be a necessity
D. Every customer must want the good supplied by the best producer and the technology must exist for the best producer to supply every customer at low cost

Which of the following professionals is most likely to be able to generate the income of a superstar ?

A. The best professor
B. The best writer
C. All of these answers participate in markets that could generate a superstar
D. The best accountant

Which of the following explanations of wage differentials is not likely to be true ?

A. Men have more human capital than women
B. Employers in competitive markets are bigots
C. Men have more job experience than women
D. None of the above

Skilled labor is relatively scarce because ?

A. There are too few teachers
B. Too few student places in higher education
C. It is costly to acquire human capital
D. Teachers’ salaries are too low

Top footballers tend to earn more than lecturers because ?

A. Footballers give more entertainment
B. Lecturers are lazy
C. The labor markets are imperfect
D. Top footballers are relatively scarce in relation to lecturers

A profit-maximizing firm will hire labour until _____ equals the _______?

A. Marginal revenue, marginal cost
B. Long run marginal revenue, long run marginal cost
C. Labor output ratio, capital output ratio
D. Marginal cost of labor, marginal revenue product