Review for Exam No 2-1

Review for Exam No 2-1 - Review for Examination No 2(of 3...

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Review for Examination No. 2 (of 3) The second exam is in the same format as Examination No. 1, with 50 multiple-choice questions. Examination No. 2 counts as 33% or roughly one-third of your grade and covers material presented in class from September 26, 2007 until October 26, 2007. Most of this material is duplicated in the textbook, as listed on the syllabus, and/or on the Blackboard site under COURSE DOCUMENTS. This exam will be administered in class on Monday, October 29, 2007. You must bring a number 2 pencil and a scantron sheet (blue form no. 30423). The following is a summary of the topics to be tested on Examination No. 2: 1. F AIR WAGES . The basis of the fair wage, as stated by Adam Smith, competition between the employer and employee. Judgment of fair wages, based on moral theories such as utilitarianism, Golden Rule, etc. Reason for unfair CEO pay, removal of the employer (shareholder) from the decision about wages. Actual settlement of wages in capitalist systems (supply and demand in labor market).
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