labor Chap006 - TEST BANK Robert J. Lemke Lake Forest...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
TEST BANK Robert J. Lemke Lake Forest College Fall 2008 Labor Economics 5 th Edition George Borjas Chapter Six 1. Which correctly describes the shape of the wage-schooling locus? A. The wage-schooling locus is downward sloping because education is generally productive. B. The wage-schooling locus is upward sloping because education is generally productive. C. The wage-schooling locus is downward sloping because education is generally unproductive. D. The wage-schooling locus is upward sloping because education is generally unproductive. E. The wage-schooling locus is horizontal because wages are unrelated to schooling. Ans: B 2. The slope of the wage-schooling locus provides an estimate of what? A. The average years of education as a function of age. B. The average wage or salary of workers for a given level of schooling. C. The economic return to an additional year of schooling. D. The economic cost to an additional year of schooling. E. The marginal cost to an additional year of schooling. Ans: C 3. Present value calculations allow one to determine A. the return to an uncertain asset. B. the present-day costs and/or benefits of various options. C. the utility value of a particular option. D. the social cost of financial calculations. E. the real wage. Ans: B 4. Which of the following reasons is not a likely explanation as to why college completion rates are greater, on average, for whites than for blacks? A. Tuition costs are lower for whites than blacks. B. Whites have access to more financial capital to pay for college than blacks. C. Post-college wages are higher for whites than for blacks. D. Whites have greater access to higher quality public education at the elementary and secondary level. E. Whites are more able to postpone earnings at age 18 than are blacks. Ans: A 5. What does not enter into the present value calculation of a college degree? A. The cost of college tuition. B. The cost of books. C. Wages of college graduates. 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
D. Lifetime wages of non-college graduates. E. The value of one’s scholarships. Ans: D 6. What is an example of specific job training? A. Learning word-processing skills. B. Learning how to use the firm’s payroll system. C. Getting one’s GED. D. Both (A) and (B) are examples of specific job training. E. All of (A), (B), or (C) are examples of specific job training. Ans: B 7. What is an example of general job training? A. Learning the floor design of a large factory. B. Learning how to weld. C. Reading a book on techniques for managing large groups of workers involved on team projects. D. Both (B) and (C) are examples of general job training. E. All of (A), (B), or (C) are examples of general job training. Ans: D 8. Why is it that a firm will typically not pay for general training? A.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/09/2010 for the course ECONOMICS 304 taught by Professor Schwenkenberg during the Spring '10 term at Rutgers.

Page1 / 7

labor Chap006 - TEST BANK Robert J. Lemke Lake Forest...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online