137. Which of the following is a market imperfection that might explain persistent wage differentials within an occupation? A. geographical immobility of workers B. readily available information about job opportunities and pay C. principal-agent problems D. compensating wage differentials AACSB: Analytic Bloom's: Level 1 Remember Difficulty: 1 Easy Learning Objective: 13-05 List the major causes of wage differentials. Topic: Wage differentials 143. In the context of labor markets, shirking refers to: A. the nonmonetary disadvantages of certain jobs. B. the neglecting or evading of work. C. the elimination of monitoring costs. D. any scheme where pay is directly related to worker output. AACSB: Analytic Bloom's: Level 1 Remember Difficulty: 1 Easy Learning Objective: 13-06 Indentify the types; benefits; and costs of "pay-for-performance" plans. Topic: Pay for performance 145. The idea of efficiency wages is that: A. the wages of each type of labor must be proportionate to their marginal products. B. the wages of each type of labor must be equal to their marginal products. C. firms might get greater work effort by paying above-equilibrium wage rates. D. workers are more diligent when paid below-equilibrium wages. AACSB: Analytic Bloom's: Level 1 Remember Difficulty: 1 Easy Learning Objective: 13-06 Indentify the types; benefits; and costs of "pay-for-performance" plans. Topic: Pay for performance
137. Which of the following is a market imperfection that might explain persistent wage differentials within an occupation? A. geographical immobility of workers B. readily available information about job opportunities and pay C. principal-agent problems D. compensating wage differentials AACSB: Analytic Bloom's: Level 1 Remember Difficulty: 1 Easy Learning Objective: 13-05 List the major causes of wage differentials. Topic: Wage differentials 143. In the context of labor markets, shirking refers to: A. the nonmonetary disadvantages of certain jobs. B. the neglecting or evading of work. C. the elimination of monitoring costs. D. any scheme where pay is directly related to worker output. AACSB: Analytic Bloom's: Level 1 Remember Difficulty: 1 Easy Learning Objective: 13-06 Indentify the types; benefits; and costs of "pay-for-performance" plans. Topic: Pay for performance 145. The idea of efficiency wages is that: A. the wages of each type of labor must be proportionate to their marginal products. B. the wages of each type of labor must be equal to their marginal products. C. firms might get greater work effort by paying above-equilibrium wage rates. D. workers are more diligent when paid below-equilibrium wages. AACSB: Analytic Bloom's: Level 1 Remember Difficulty: 1 Easy Learning Objective: 13-06 Indentify the types; benefits; and costs of "pay-for-performance" plans. Topic: Pay for performance
Ch%2014%20-%20Wage%20determination%20-%20Practice%20Test%20w%20ans%20and%20diff%20level.docx