The functional distribution of income shows how national income is divided between ?

A. Employees
B. The population
C. The factors of production
D. The working population

Efficiency wages are ____ that raise _____?

A. Low wages, employment
B. High wages, labor supply
C. High wages, productivity
D. High wages, employment

The downward sloping marginal physical product of labor is the firm’s ?

A. Supply of labor
B. Short-run demand curve for labor
C. Marginal cost of labour
MarGinal revenue product of labor

The participation rate in the labour force is affected by ?

A. higher real wages
B. lower fixed costs of working
C. lower non-labour income
D. changes in tastes between leisure and work

Human capital can be described as ?

A. The tools used by workers to enhance productivity
B. A person inherited ability
C. The stock of expertise accumulated by a worker
D. Education

The opportunity cost of acquiring education is ?

A. Course fees
B. Course fees and living expenses
C. The earnings foregone
D. Course fees living expenses and textbook

Unions achieve a higher wage differential the more _____ and the more ______?

A. Inelastic the demand for labour, they can restrict the supply of labour
B. Members they have, aggressive they behave
C. The economy is growing, people prefer leisure
D. The productivity is growing vacancies exist

The most important source of wage differentials are ?

A. Regional variation
B. Unionization
C. Relative danger
D. Skills

In the West Women and non-whites on average receive lower incomes than white men because ?

A. They tend to work in relatively unskilled jobs
B. Educational disadvantage
C. Firms are reluctant to invest in training
D. All of the above

In a competitive market, which of the following is least, likely to be the source of a persistent discriminatory wage differential ?

A. All of these answers could be source of a persistent discriminatory wage differential
B. The customer
C. The government
D. The employer