微观经济理论测试题库：tb16

1、Chapter 16Labor Markets240.If a firm is a monopsonistic hirer of labor,* a.its marginal expense for labor is greater than the market wage.b.its marginal expense for labor is equal to the market wage.c.its marginal expense for labor is less than the market wage.d.it is a price taker in the labor mark

2、et.241.For a monopsonistic hirer of labor, the gap between labors marginal revenue product and its wage rate will be greatera.the more elastic the supply curve for labor.*b.the more inelastic the supply curve for labor.c.the more elastic the firms demand for labor.d.the more inelastic the firms dema

3、nd for labor.242.A price discriminating monopsonist could increase its profits bya.paying the minimum wages possible.b.hiring as little capital as possible.* c.paying lower wages to workers with inelastic supply of labor curves than to workers with elastic curves.d.paying lower wages to workers with

4、 elastic supply of labor curves than to workers with inelastic curves.243.Consider two situations: In situation A, the production of widgets is monopolized by a single firm. In situation B, the production of widgets is perfectly competitive. In both situations the supply of labor to widget makers is

5、 infinitely elastic at a wage of w. In this case, the product a.will be the same in the two cases.b.will be higher in case B than in case A.* c.will be higher in case A than in case B.d.From the information given it is not possible to make a definite statement about the marginal value product of lab

6、or.244.A monopolist union that desired to maximize its total wage bill (w l) would offer that quantity of labor for whicha.labors marginal productivity is zero.b.labors wage falls to zero.c.the quantity of labor hired is as great as possible given the firms demand curve.* d.the marginal revenue from

7、 providing one more worker to the market is zero.245.A monopsonist that faces a labor supply curve of the form l = 4w and has a constant marginal revenue product of 50 per unit of l, will opt for which following, w, l combination?a.w = 10,l = 40.*b.w = 25,l = 100.c.w = 50,l = 200.d.w = 100, l = 400.

8、246.The opportunity cost of leisure is approximated bya.the price of leisure activities (such as theater tickets).*b.an individuals hourly real wage muting expense.d.an individuals total income.247.The slope of an individuals “consumptionleisure” budget constraint isa.24 hours minus the number of le

9、isure hours.b.total consumption divided by the wage rate.c.the real wage rate.*d.the negative of the real wage rate.248.For an individual maximizing utility, the marginal rate of substitution of leisure hours for consumption will bea.equal to one divided by his or her wage rate.b.greater than one di

10、vided by his or her wage rate.*c.equal to his or her wage rate.d.less than his or her wage rate.249.When an individuals wage rises, the substitution effect tends to*a.increase hours worked.b.decrease hours worked.c.leave hours worked unchanged.d.It is impossible to predict what will happen to hours

11、worked.250.When an individuals wage rises, the income effect tends toa.increase hours worked.*b.decrease hours worked.c.leave hours worked unchanged.d.It is impossible to predict what will happen to hours worked.251.If an individuals supply of labor curve is positively sloped throughout, then*a.the

12、substitution effect always dominates the income effect.b.the income effect always dominates the substitution effect.c.the substitution effect dominates at low real wage levels and the income effect dominates at high real wage levels.d.the income effect dominates at low real wage levels and the subst

13、itution effect dominates at high real wage levels.252.If an individuals supply of labor curve is “backward bending,” thena.the substitution effect always dominates the income effect.b.the income effect always dominates the substitution effect.* c.the substitution effect dominates at low real wage le

14、vels and the income effect dominates at high real wage levels.d.the income effect dominates at low real wage levels and the substitution effect dominates at high real wage levels.253.The fact that more women have chosen to work as real wages rise is evidence that, for them,a.leisure is an inferior g

15、ood.b.income and substitution effects of higher real wages work in the same direction.c.income and substitution effects of higher real wages may work in opposite directions.* d.income and substitution effects may work in opposite directions but that the substitution effect is stronger.254.“Compensat

16、ing wage differentials” arise becausea.workers possess different skills.*b.workers prefer some jobs to others.c.firms pay higher wages for workers with higher marginal productivities.d.firms discriminate in hiring.255.Which of the following strategies that a union might pursue would result in the lo

17、west wage rate for its members? a.Maximizing the total wage bill*b.Maximizing employment of its membersc.Restricting union membership severelyd.Maximizing the total economic rent obtained by its members256.Which of the following best explains why the elasticity of supply of labor for an individual w

18、ith a Cobb-Douglas utility function (for consumption and leisure) is zero?* a.Income and substitution effects are precisely offsetting.b.The elasticity of substitution of leisure for consumption is zero.c.Leisure is an inferior good.d.Consumption is subject to diminishing marginal utility.257.Adoption of a guaranteed annual income with benefits (B) given by B = 20,000 .5 (earnings)would be expected to reduce work effort by low wag