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p p p p p p p p p p
nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
p p p p p p p p p
1) Becausepresourcesparepscarceprelativeptophumanpwants,peconomicspispbestpdescribedpas
1) p
A) thepsciencepofpallocatingpproductivepresourcespfairly.
B) apsciencepofpchoice.
C) thepsciencepofpallocatingpgoodspandpservicespfairly.
D) thepsetpofpnaturalplawspthatpgovernphumanpbehaviorpinpthepfacepofpadversepconditions.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
2) Laborpeconomicspispstudiedpaspapdistinctpsubfieldpofpeconomicspbecause
2)p
A) thepbulkpofpnationalpincomepispreceivedpbyplabor.
B) thepconceptspofpsupplypandpdemandpmustpbeprevisedpsomewhatpwhenpappliedptoplaborp
markets.
C) laborpeconomicspcanpbepusedptopanalyzepmajorpsocioeconomicptrendspsuchpasptheps
urgepinpthepnumberpofpwomenpworkers.
D) Allpofpthesepchoicesparepcorrect.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
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nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
3) Thepbulkpofpnationalpincomepflowspto
3)p
A) landownerspinpthepformpofprent.
B) capitalpownerspinpthepformpofpinterest.
C) capitalpownerspinpthepformpofpprofit.
D) workerspinpthepformpofpwagespandpsalaries.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
4) Aspdistinctpfrompproductpmarketptransactions,plaborpmarketptransactionsparepuniquepinpthat
4)p
A) topthepseller,pthepnonmonetarypcharacteristicspofpthepsalepcanpbepaspimportantpaspthe
price.
B) laborpdemandpcurvespslopepupward.
C) theppricepofplaborpispnotpdeterminedpbypsupplypandpdemandpfactors.
D) theypareplesspcomplex.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
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nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
apDiscipline
Versionp1 3
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nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
5) Thepconceptpofpdemandpmustpbepmodifiedpwhenpappliedptoplaborpmarketsptopreflectpthepf
actpthat
5)p
A) nonmonetarypcharacteristicspofpjobspmaypbepaspimportantptopworkerspasptheirppay.
B) laborpdemandpcurvespslopepupwardpfrompleftptopright.
C) thepdemandpforplaborpispderivedpfrompthepdemandpforpthepvariouspproductspthatplaborpp
roduces.
D) thepdemandpforpoutputpispderivedpfrompthepdemandpforplaborpusedptopproducepthat
output.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
6) Thep"old"pviewpofplaborpeconomicspstressesp
,pwhilepthep"new"pviewpfocusespuponp .
6)p
A) analysis;pmarkets
B) description;panalysis
C) description;pinstitutions
D) institutions;pdescription
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p p p p p p p p p p
nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
p p p p p p p p p
1) Becausepresourcesparepscarceprelativeptophumanpwants,peconomicspispbestpdescribedpas
1) p
A) thepsciencepofpallocatingpproductivepresourcespfairly.
B) apsciencepofpchoice.
C) thepsciencepofpallocatingpgoodspandpservicespfairly.
D) thepsetpofpnaturalplawspthatpgovernphumanpbehaviorpinpthepfacepofpadversepconditions.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
2) Laborpeconomicspispstudiedpaspapdistinctpsubfieldpofpeconomicspbecause
2)p
A) thepbulkpofpnationalpincomepispreceivedpbyplabor.
B) thepconceptspofpsupplypandpdemandpmustpbeprevisedpsomewhatpwhenpappliedptoplaborp
markets.
C) laborpeconomicspcanpbepusedptopanalyzepmajorpsocioeconomicptrendspsuchpasptheps
urgepinpthepnumberpofpwomenpworkers.
D) Allpofpthesepchoicesparepcorrect.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
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p p p p p p p p p p
nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
3) Thepbulkpofpnationalpincomepflowspto
3)p
A) landownerspinpthepformpofprent.
B) capitalpownerspinpthepformpofpinterest.
C) capitalpownerspinpthepformpofpprofit.
D) workerspinpthepformpofpwagespandpsalaries.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
4) Aspdistinctpfrompproductpmarketptransactions,plaborpmarketptransactionsparepuniquepinpthat
4)p
A) topthepseller,pthepnonmonetarypcharacteristicspofpthepsalepcanpbepaspimportantpaspthe
price.
B) laborpdemandpcurvespslopepupward.
C) theppricepofplaborpispnotpdeterminedpbypsupplypandpdemandpfactors.
D) theypareplesspcomplex.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
Versionp1 2
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p p p p p p p p p p
nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
apDiscipline
Versionp1 3
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p p p p p p p p p p
nell
Contemporary Labor Economics 12th Edition by McConnell
p p p p p p
CH01
5) Thepconceptpofpdemandpmustpbepmodifiedpwhenpappliedptoplaborpmarketsptopreflectpthepf
actpthat
5)p
A) nonmonetarypcharacteristicspofpjobspmaypbepaspimportantptopworkerspasptheirppay.
B) laborpdemandpcurvespslopepupwardpfrompleftptopright.
C) thepdemandpforplaborpispderivedpfrompthepdemandpforpthepvariouspproductspthatplaborpp
roduces.
D) thepdemandpforpoutputpispderivedpfrompthepdemandpforplaborpusedptopproducepthat
output.
QuestionpDetails
AACSBp:pReflectivepThinkingpAccessibilit
yp:pKeyboardpNavigationpBloom'sp:pRemem
ber
Difficultyp:p1pEasy
LearningpObjectivep:p01-
01pExplainpwhyplaborpeconomicspispjustifiedpaspapspecialpfieldpofpinquiry.pTopicp:pLaborpEconomicspasp
apDiscipline
6) Thep"old"pviewpofplaborpeconomicspstressesp
,pwhilepthep"new"pviewpfocusespuponp .
6)p
A) analysis;pmarkets
B) description;panalysis
C) description;pinstitutions
D) institutions;pdescription
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