Question 1

Right to work laws:

Accepted Answer

Right to work laws are designed to ensure that employment is not contingent upon union membership, meaning they prohibit agreements between employers and unions that make union membership or payment of union dues a condition of employment.

Question 2

Which group has the largest percentage of people in poverty?

Accepted Answer

The answer of Which group has the largest percentage of...

Question 3

If the marginal product of the 5th worker is 10 and the product's price is $100, the marginal revenue product of the 5th worker is $10.

Accepted Answer

Marginal revenue product is marginal product times price.

Question 4

The supply of labor is upward-sloping.

Accepted Answer

The supply of labor is typically upward-sloping because as wages increase, individuals are incentivized to work more hours or more people enter the workforce, increasing the quantity of labor supplied.

Question 5

If the supply of labor decreases, wages are likely to increase.

Accepted Answer

When the supply of labor decreases, there are fewer workers available, which typically leads to employers offering higher wages to attract and retain the employees they need.

Question 6

The percent of private sector workers who are unionized is much greater than the percent of government workers who are unionized.

Accepted Answer

Government workers have a higher rate of unionization compared to private sector workers. Public sector unions represent a significant portion of the workforce in government positions, whereas the private sector has seen a decline in union membership rates over the years.

Question 7

The National Labor Relations Board hears complaints on unfair labor practices and can order remedies when appropriate.

Accepted Answer

The National Labor Relations Board (NLRB) is an independent federal agency established to enforce labor law in relation to collective bargaining and unfair labor practices. It has the authority to investigate complaints, hold hearings, and order remedies when it finds that unfair labor practices have occurred.

Question 8

The Taft-Hartley Act is strongly supportive of unions and union organizing activities.

Accepted Answer

The Taft-Hartley Act of 1947 was passed to impose limitations on union activities and to increase federal authority in labor disputes, thereby not being strongly supportive of unions and their organizing activities.

Question 9

In the U.S., the top 20% of households by income receive almost 50% of all income.

Accepted Answer

The top 20% of households by income in the U.S. do indeed receive a disproportionately large share of the total income, with estimates often indicating they receive around 50% or more of all income, highlighting significant income inequality.

Question 10

Differences in productive resources, differences in human capital investments, discrimination, and differences in bargaining power and influence all contribute to differences in income in the United States.

Accepted Answer

These factors are among the primary reasons for income disparities in the United States, as they affect individuals' ability to earn income and negotiate for higher wages, leading to variations in earnings across different groups and regions.

Question 11

Poverty might be overstated because it considers only income and not transfer payments.

Accepted Answer

Transfer payments, such as social security, unemployment benefits, and other government assistance, are not always included in income calculations, potentially leading to an overstatement of poverty levels.

Question 12

With the law of diminishing returns, the marginal product of the second worker will be ______ than the marginal product of the third worker.

Accepted Answer

The answer of With the law of diminishing returns, the...

Question 13

The price of labor is called its _________.

Accepted Answer

The answer of The price of labor is called its...

Question 14

A(n) _________ union represents workers with a specific skill and a(n) ______________ union represents all workers in a specific industry.

Accepted Answer

The answer of A(n) _________ union represents workers with a...

Quiz 15: Labor Markets, Unions, and the Distribution of Income-A