Home › Quizzes › Labor Economics

Labor Economics

Labor Economics Quiz

14 Questions Published
Play Quiz Practise this topic out loud

Questions

Question 1 Multiple Choice (Single Answer)

What is the main determinant of labor supply?

  1. Wages
  2. Hours worked
  3. Labor productivity
  4. Number of workers
Question 2 Multiple Choice (Single Answer)

What is the main determinant of labor demand?

  1. Wages
  2. Hours worked
  3. Labor productivity
  4. Number of workers
Question 3 Multiple Choice (Single Answer)

What is the equilibrium wage?

  1. The wage at which labor supply equals labor demand
  2. The wage at which firms are willing to pay the most for labor
  3. The wage at which workers are willing to work the most hours
  4. The wage at which the government sets the minimum wage
Question 4 Multiple Choice (Single Answer)

What is a labor union?

  1. An organization of workers that bargains with employers over wages, hours, and working conditions
  2. An organization of employers that bargains with workers over wages, hours, and working conditions
  3. A government agency that regulates the labor market
  4. A non-profit organization that provides job training and placement services
Question 5 Multiple Choice (Single Answer)

What is a strike?

  1. A work stoppage by employees in order to force an employer to meet their demands
  2. A work stoppage by employers in order to force employees to accept their terms
  3. A government-mandated shutdown of a business or industry
  4. A temporary layoff of workers due to economic conditions
Question 6 Multiple Choice (Single Answer)

What is a lockout?

  1. A work stoppage by employers in order to force employees to accept their terms
  2. A work stoppage by employees in order to force an employer to meet their demands
  3. A government-mandated shutdown of a business or industry
  4. A temporary layoff of workers due to economic conditions
Question 7 Multiple Choice (Single Answer)

What is the minimum wage?

  1. The lowest wage that employers are allowed to pay their employees
  2. The highest wage that employers are allowed to pay their employees
  3. The average wage that employers pay their employees
  4. The wage at which labor supply equals labor demand
Question 8 Multiple Choice (Single Answer)

What are the effects of a minimum wage?

  1. Increased unemployment
  2. Decreased unemployment
  3. No effect on unemployment
  4. Increased wages
Question 9 Multiple Choice (Single Answer)

What is the difference between a union shop and an open shop?

  1. In a union shop, all employees must be members of the union. In an open shop, employees are not required to be members of the union.
  2. In a union shop, employees are not required to be members of the union. In an open shop, all employees must be members of the union.
  3. In a union shop, employers are required to bargain with the union. In an open shop, employers are not required to bargain with the union.
  4. In a union shop, employees are paid higher wages than in an open shop. In an open shop, employees are paid lower wages than in a union shop.
Question 10 Multiple Choice (Single Answer)

What is the difference between a closed shop and an open shop?

  1. In a closed shop, all employees must be members of the union. In an open shop, employees are not required to be members of the union.
  2. In a closed shop, employees are not required to be members of the union. In an open shop, all employees must be members of the union.
  3. In a closed shop, employers are required to bargain with the union. In an open shop, employers are not required to bargain with the union.
  4. In a closed shop, employees are paid higher wages than in an open shop. In an open shop, employees are paid lower wages than in a closed shop.
Question 11 Multiple Choice (Single Answer)

What is the difference between a right-to-work law and a closed shop?

  1. In a right-to-work law, employees are not required to be members of the union. In a closed shop, all employees must be members of the union.
  2. In a right-to-work law, all employees must be members of the union. In a closed shop, employees are not required to be members of the union.
  3. In a right-to-work law, employers are required to bargain with the union. In a closed shop, employers are not required to bargain with the union.
  4. In a right-to-work law, employees are paid higher wages than in a closed shop. In a closed shop, employees are paid lower wages than in a right-to-work law.
Question 12 Multiple Choice (Single Answer)

What is the difference between a collective bargaining agreement and a contract?

  1. A collective bargaining agreement is a contract between a union and an employer that sets wages, hours, and working conditions. A contract is a legal agreement between two or more parties.
  2. A collective bargaining agreement is a legal agreement between two or more parties. A contract is a contract between a union and an employer that sets wages, hours, and working conditions.
  3. A collective bargaining agreement is an agreement between two or more parties that sets wages, hours, and working conditions. A contract is a legal agreement between a union and an employer.
  4. A collective bargaining agreement is a legal agreement between a union and an employer that sets wages, hours, and working conditions. A contract is an agreement between two or more parties.
Question 13 Multiple Choice (Single Answer)

What is the difference between a grievance and a complaint?

  1. A grievance is a complaint filed by an employee against an employer. A complaint is a complaint filed by an employer against an employee.
  2. A grievance is a complaint filed by an employer against an employee. A complaint is a complaint filed by an employee against an employer.
  3. A grievance is a complaint filed by an employee or a union against an employer. A complaint is a complaint filed by an employer against an employee or a union.
  4. A grievance is a complaint filed by an employer or a union against an employee. A complaint is a complaint filed by an employee or a union against an employer.
Question 14 Multiple Choice (Single Answer)

What is the difference between arbitration and mediation?

  1. Arbitration is a process in which a neutral third party makes a binding decision on a dispute. Mediation is a process in which a neutral third party helps the parties to reach a settlement.
  2. Arbitration is a process in which a neutral third party helps the parties to reach a settlement. Mediation is a process in which a neutral third party makes a binding decision on a dispute.
  3. Arbitration is a process in which the parties agree to submit their dispute to a neutral third party for a binding decision. Mediation is a process in which the parties agree to submit their dispute to a neutral third party for a non-binding decision.
  4. Arbitration is a process in which the parties agree to submit their dispute to a neutral third party for a non-binding decision. Mediation is a process in which the parties agree to submit their dispute to a neutral third party for a binding decision.
← Back to Quizzes