Question 1

During the postwar period, the portion of total employment declined in the ______ sector.

Accepted Answer

During the postwar period, the portion of total employment declined in the agricultural, manufacturing, mining, and construction sectors due to various factors such as technological advancements, urbanization, and shifts towards a service-oriented economy.

Question 2

The per se phase in antitrust policy began in.

Accepted Answer

The per se phase in antitrust policy began in the late thirties, specifically with the interpretation and enforcement of antitrust laws that deemed certain business practices as inherently illegal, regardless of their actual effect on competition.

Question 3

In 2001, the percent of total employment in the manufacturing, mining, and construction sector equaled

Accepted Answer

In 2001, the combined employment in manufacturing, mining, and construction sectors was less than 20 percent of total employment, reflecting the ongoing shift in the U.S. economy from manufacturing and primary industries towards services.

Question 4

In the 1970s, members of the Law and Economics program at the University of Chicago argued that

Accepted Answer

The Law and Economics movement, particularly those associated with the University of Chicago in the 1970s, emphasized the efficiency aspects of market structures and practices. They argued that large market shares could be the result of efficient management or innovation, rather than anti-competitive behavior. This perspective shifted the focus from the size of the firm to the nature of its conduct and its impact on consumer welfare.

Question 5

Which of the following statements about the percent of the population completing high school by persons age 25 and over in 2000 is MOST accurate?

Accepted Answer

In 2000, the graduation rates for African Americans were indeed lower than those for whites, but not to the same extent as for Hispanics, who had significantly lower graduation rates compared to whites. This reflects the disparities in educational attainment among different racial and ethnic groups at that time.

Question 6

Between 1960 and 2001, the labor force participation rate increased for each of the following groups except

Accepted Answer

The labor force participation rate for married men generally decreased or remained stable during this period, while it increased for women and single men.

Question 7

Key features of the American labor market in the postwar period include all of the following except

Accepted Answer

Union membership in the United States has not steadily increased in the postwar period; it has actually been in decline since the mid-20th century. The other options (growth of service sector employment, increased labor force participation of women with young children, and the erosion of discriminatory barriers) are accurate descriptions of the American labor market trends in the postwar period.

Question 8

In 2001, the labor force participation rate of married women equaled ________.

Accepted Answer

In 2001, the labor force participation rate of married women was just over 60 percent, reflecting significant changes in societal norms and economic needs that have encouraged more married women to enter the workforce.

Question 9

By 1964, nearly all blacks outside the South were covered by laws that allowed the government to issue cease and desist orders against discriminating firms. According to recent research by William Collins, these laws

Accepted Answer

These laws had a positive impact, particularly for African-American women, in improving wages and working conditions, though their effects were not universally felt across all demographics within the African-American community.

Question 10

Relative to the white median family income, since 1980 African-American median family income has  ________ and Hispanic median family income has __________.

Accepted Answer

The answer of Relative to the white median family income,...

Question 11

From the late 1930s until the early 1970s, courts tended to follow per se rules when deciding antitrust cases.  According to these rules,

Accepted Answer

Per se rules in antitrust cases meant that certain business practices, like having a large market share, were considered automatically illegal without needing further investigation into their effects on competition.

Question 12

Which of the following statements about the 2000 average wages of blacks and Hispanics compared to whites is MOST accurate?

Accepted Answer

By 2000, data showed that African Americans and Hispanics both earned less than whites, with African Americans earning about 70% and Hispanics about 75% of what whites earned. This reflects the wage disparities that exist among different racial and ethnic groups in the United States.

Question 13

According to the text, which of the following factors contributed to the increased labor force participation rate of women during the postwar period?

Accepted Answer

All of the factors listed contributed to the increased labor force participation rate of women during the postwar period. Rising real wages made work more attractive, an increase in education levels empowered more women to seek employment, declining fertility rates meant fewer child-rearing responsibilities, and the growth of the service sector provided more job opportunities that were often more accessible or appealing to women.

Question 14

Productivity is hardest to measure in which sector?

Accepted Answer

Productivity is hardest to measure in the service sector due to the intangible nature of its outputs, which makes it difficult to quantify and compare productivity levels accurately.

Question 15

Which of the following statements correctly characterizes fertility rates in the postwar period?

Accepted Answer

The birth rate experienced a significant increase after World War II, known as the Baby Boom, peaking in the late 1950s. Following this peak, there was a notable decline in birth rates into the 1970s, reflecting changes in societal norms, economic factors, and the introduction of birth control methods.

Question 16

According to the text, the growth of service sector employment in the US has contributed to

Accepted Answer

The growth of service sector employment in the US has contributed to a slowdown in the growth of real wages during the postwar period, as service jobs often pay less than manufacturing jobs, which have declined.

Question 17

All of the following served to reduce labor market discrimination against women and minorities except

Accepted Answer

Marriage bars were policies that required women to leave their jobs upon getting married and did not serve to reduce labor market discrimination; instead, they were a form of discrimination. The other options were all measures aimed at reducing discrimination.

Question 18

Which of the following statements about the percent of the population completing high school by persons age 25 and over is MOST accurate?

Accepted Answer

Between 1940 and 2000, educational attainment in the United States improved significantly for both whites and blacks, with the rate of high school completion increasing more dramatically for blacks than for whites. This reflects broader social, economic, and legislative changes that helped to reduce educational disparities between racial groups over the 20th century.

Question 19

Which of the following statements about the "separate but equal" provision of Plessy v. Ferguson is MOST accurate?

Accepted Answer

The "separate but equal" doctrine established by Plessy v. Ferguson led to widespread segregation and resulted in African-American schools receiving significantly less funding and resources compared to white schools, making them systematically underfunded.

Question 20

In 2001, women in most occupations earned ________ of what males in the same occupation earned.

Accepted Answer

In 2001, women in most occupations earned about 70 percent of what males in the same occupation earned, highlighting the gender pay gap prevalent at the time.

Quiz 29: Manufacturing, Productivity, and Labor