• Wrong document? Swap it for free
  • Written by students who passed
  • Immediately available after payment
  • Read online or as PDF
Sell
Where do you study
Your language
Document preview thumbnail
Preview 3 out of 21 pages
Exam (elaborations)

Principles of Economics 3e Test Bank – Chapter 14: Labor Markets and Income | Practice Questions and Answers

Document preview thumbnail
Preview 3 out of 21 pages

Prepare for your economics exams with the Principles of Economics 3e Test Bank – Chapter 14: Labor Markets and Income. This study resource helps students review key concepts related to labor supply and demand, wage determination, employment, human capital, income distribution, and differences in earnings. Use these practice questions to reinforce your understanding of how labor markets function, explore the factors influencing wages and income, assess your knowledge of microeconomic principles, and prepare for quizzes, assignments, and final exams.

Content preview

Principles_of_Economics3e-TestBank-Ch14-labor-markets-income.pdfhttps://online2pdf.com/remove-pdf-header-footer
Page 1https://online2pdf.com/remove-pdf-header-footer
Page 1 of 21https://online2pdf.com/remove-pdf-header-footer




Economics Chapter 14 Test Bank

Multiple Choice Questions


1. Negotiations between unions and a firm or firms is called _____________________ .

A. collective bargaining
B. cooperative bargaining
C. united bargaining
D. organized bargaining

Answer: A
Reference:
Explanation:

Type: Multiple Choice Difficulty: Easy Category: Remember


2. _____________________ involves active efforts to improve the job opportunities or
outcomes of minority groups or women.

A. Meritorious action
B. Affirmative action
C. Anti-discriminative action
D. Aligned action

Answer: B
Reference:
Explanation:

Type: Multiple Choice Difficulty: Easy Category: Remember


3. A _____________________ is an organization of workers that negotiates with employers as
a group over wages and working conditions.

A. affirmative union
B. collective union
C. labor union
D. cooperative union

Answer: C
Reference:
Explanation:

Type: Multiple Choice Difficulty: Easy Category: Analyze


4. A labor union seeks to _____________________ between employers and workers.


This file is copyright 2023, Rice University. All Rights Reserved.


Page 1 of 21https://online2pdf.com/remove-pdf-header-footer
Principles_of_Economics3e-TestBank-Ch14-labor-markets-income.pdfhttps://online2pdf.com/remove-pdf-header-footer
1 of 21https://online2pdf.com/remove-pdf-header-footer

,Principles_of_Economics3e-TestBank-Ch14-labor-markets-income.pdfhttps://online2pdf.com/remove-pdf-header-footer
Page 2https://online2pdf.com/remove-pdf-header-footer
Page 2 of 21https://online2pdf.com/remove-pdf-header-footer




A. change the balance of negotiations
B. change the economic balance
C. force employers to deal with individual workers
D. lobby government for changes

Answer: A
Reference:
Explanation:

Type: Multiple Choice Difficulty: Easy Category: Remember


5. The existence of labor unions forces employers to deal with workers
_____________________.

A. individually, rather than as a collective
B. cooperatively, rather than uncooperatively
C. equitably, rather than inequitably
D. collectively, rather than as individuals

Answer: D
Reference:
Explanation:

Type: Multiple Choice Difficulty: Easy Category: Understand


6. Labor unions can:

A. be a primary line of defense against suppressed wage levels.
B. be controversial in a for-profit market driven economy.
C. bring better economic gains for their memberships.
D. protect workers' pensions and all of the above.

Answer: D
Reference:
Explanation:

Type: Multiple Choice Difficulty: Hard Category: Understand


7. Which of the following arguments would most likely be presented by a critic of labor unions?

A. unions oppose suppression of wages by profit-seeking firms
B. unions have a tendency to gain as much as possible in the long-term
C. unions can prohibit economic growth if new technology is blocked
D. unions have a higher percentage of women members than men

Answer: C

This file is copyright 2023, Rice University. All Rights Reserved.


Page 2 of 21https://online2pdf.com/remove-pdf-header-footer
Principles_of_Economics3e-TestBank-Ch14-labor-markets-income.pdfhttps://online2pdf.com/remove-pdf-header-footer
2 of 21https://online2pdf.com/remove-pdf-header-footer

, Principles_of_Economics3e-TestBank-Ch14-labor-markets-income.pdfhttps://online2pdf.com/remove-pdf-header-footer
Page 3https://online2pdf.com/remove-pdf-header-footer
Page 3 of 21https://online2pdf.com/remove-pdf-header-footer




Reference:
Explanation:

Type: Multiple Choice Difficulty: Medium Category: Analyze


8. With regard to labor unions, which of the following is an accurate statement?

A. percentage of members is higher for women than men
B. membership is lower for agriculture or service-oriented jobs
C. membership is lower in government and manufacturing
D. membership is higher for blacks or Hispanics than for whites

Answer: B
Reference:
Explanation:

Type: Multiple Choice Difficulty: Medium Category: Understand


9. The percentage of workers belonging to a union is higher in the

A. 45–64 age range.
B. 25-45 age range.
C. 40 -65 age range.
D. 30-50 age range.

Answer: A
Reference:
Explanation:

Type: Multiple Choice Difficulty: Easy Category: Remember


10. Union members earn_____________________ than non-union members, even after
adjusting for factors such as_____________________.

A. about 10% more; racial discrimination and immigration.
B. about the same; union dues and cost of lawyers for collective bargaining.
C. about 20% more; years of work experience and education level.
D. about 30% more; healthcare and retirement benefits.

Answer: C
Reference:
Explanation:

Type: Multiple Choice Difficulty: Medium Category: Remember


11. In the Unites States, worker membership in labor unions has been


This file is copyright 2023, Rice University. All Rights Reserved.


Page 3 of 21https://online2pdf.com/remove-pdf-header-footer
Principles_of_Economics3e-TestBank-Ch14-labor-markets-income.pdfhttps://online2pdf.com/remove-pdf-header-footer
3 of 21https://online2pdf.com/remove-pdf-header-footer

Document information

Uploaded on
October 10, 2026
Number of pages
21
Written in
2026/2027
Type
Exam (elaborations)
Contains
Questions & answers
$21.99

Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF

Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
mib01
4.9
(387)
Sold
6877
Followers
104
Items
1338
Last sold
1 day ago



Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Working on your references?

Frequently asked questions