Labor Markets and Minium Wage

Labor Markets and Minium Wage

10th Grade

10 Qs

quiz-placeholder

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Labor Markets and Minium Wage

Labor Markets and Minium Wage

Assessment

Interactive Video

Computers

10th Grade

Medium

Created by

JASON SAMMONS

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What is a fundamental factor in getting a job?

Having a high school diploma

Supplying a skill that is in demand

Knowing the right people

Having previous job experience

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Why does Cristiano Ronaldo earn a high salary?

Because of the high demand for world-class soccer players

Because of his popularity only

Because he asked for it

Due to the lack of soccer players

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What is 'voluntary exchange' in the context of labor markets?

A government program

An agreement on wages that benefits both employer and employee

A type of union negotiation

A charity event

4.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Why are engineers paid more than social workers?

Due to higher demand and limited supply of engineers

Because their work is more important

Because they work longer hours

Social workers choose to be paid less

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What is wage discrimination?

Paying different wages based on characteristics like race or sex

Paying everyone the same wage

Negotiating wages individually

Paying different wages based on job performance

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What is a monopsony?

A government-controlled labor market

A single employer dominating the hiring market

A type of union

A market with many employers

7.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Why might employers offer efficiency wages?

To comply with government regulations

To reduce employee turnover and increase productivity

Because of union demands

To attract unskilled labor

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