Labor Market Quiz

What is collective bargaining?

• Union and company representatives meeting to negotiate a new labor contract

• An agreement to allow workers representing several different occupations

• A situation in which everyone to be part of the labor negotiating process

• A situation in which the rights of labor have been set aside

Labor unions arose largely in response to the

• Goal of many firms to hire and retain the most highly skilled workers

• Practice featherbedding in the railroad industry

• 1938 Fair Labor Standards Act, which banned child labor

• Dangerous working conditions and long hours of factory jobs in the 1800’s

Emily has been waiting for a promotion to a management position for almost five years. When she notices the men fill most of the higher-level jobs in her company, she suspects that her company has. a

• open door

• glass ceiling

• floor option

• tin roof

The strength of labor unions has declined in recent years because

• Some manufacturing jobs have relocated to countries where labor is cheaper

• The number of blue-collar jobs is decreasing

• The number of white collar jobs is increasing

• All of the above

Current labor market trends include

• An increase in the number of people not counted in employment statistics

• An increase in demand for low-skilled American labor

• An increase in service jobs accompanied by a decrease in manufacturing jobs

Tracy, a recent college graduate who earned straight A’s as a history major, is applying for a job as a legal assistant. Although she does not have a background in law, she hopes to land a job because of the

• Trend toward having several different jobs during one’s career

• Screening effect

• Trend toward contingent employment

The equilibrium wage for doctors is high because the

• Demand for doctors tends to be lower relative to supply

• Supply of doctors is relatively low and the demand is relatively high

• Supply of doctors is relatively high and the demand is relatively low

How are wages for a particular job determined?

• By the equilibrium between supply and demand for workers for that job

• By the amount of inflation in the economy

• By advertising in the newspaper or online

Your cousin tells you that his trucking company has resorted to arbitration with the trucker’s union. This means that

• The trucker’s union is on strike

• The company will call in a mediator if arbitration fails

• Strikebreakers will be called in to perform key tasks

• A neutral third party is reviewing the dispute and will impose a legally binding decision

Which of the following jobs are expected to grow significantly

• Agricultural jobs

• Manufacturing jobs

• Computer related jobs

• Police and fire fighting jobs