Tackle the Test: Multiple-Choice Questions

1. Question

   Which group of U.S. workers had the lowest median earnings in 2013?

   A.

   White males

   B.

   females (all ethnicities)

   C.

   African-Americans (males and female)

   D.

   Hispanics

   E.

   African-American males

   Which group of U.S. workers had the lowest median earnings in 2013?

2. Question

   Which of the following sources of wage differences is/are consistent with the marginal productivity theory of income distribution?

   
   

   
   

   1. talent

      
      
   
   

   2. compensating differentials

      
      
   
   

   3. efficiency wages
      

      
      
   
   

   A.

   I only

   B.

   II only

   C.

   III only

   D.

   I and II only

   E.

   I, II, and III

   Which of the following sources of wage differences is/are consistent with the marginal productivity theory of income distribution?

3. Question

   Compensating differentials mean that which of the following leads to higher wages for some jobs?

   A.

   danger

   B.

   discrimination

   C.

   marginal productivity

   D.

   market power

   E.

   a surplus of labor

   Compensating differentials mean that which of the following leads to higher wages for some jobs?
4. Page 727

   Question

   Which of the following is a result in the efficiency-wage model?

   A.

   compensating differentials

   B.

   surpluses of labor

   C.

   shortages of labor

   D.

   discrimination

   E.

   increased productivity

   Which of the following is a result in the efficienc

5. Question

   Which of the following statements regarding the marginal productivity theory of income distribution is correct?

   A.

   Each worker should earn a wage based on his or her marginal productivity.

   B.

   The wage rate should equal the rental rate.

   C.

   Workers with higher marginal products always receive a higher wage than workers with lower marginal products.

   D.

   The factor distribution of income is morally justified.

   E.

   With well-functioning labor markets, each factor is paid the equilibrium marginal revenue product of that factor.

   Which of the following statements regarding the marginal productivity theory of income distribution is correct?