Theterm"compensatingdifferential"refersto A: the fact that workers who do similar work should be paid the same wage. B: the fact that some workers live further from their jobs than do other workers. C: a wage difference that is distinguishable on the basis of monetary characteristics. D: a wage difference that arises from nonmonetary characteristics of different jobs.

An increase in the population and hence the supply of labor causes a A: shortage of labor at the original real wage rate and the real wage rate will fall. B: surplus of labor at the original real wage rate and the real wage rate will rise. C: surplus of labor at the original real wage rate and the real wage rate will fall. D: shortage of labor at the original real wage rate and the real wage rate will rise.

A wage is the price for labor. A minimum wage set above equilibrium wage would be an example of: A: . a price ceiling. B: . a price floor. C: . a gap in prices or wages. D: . a wage settlement.

___________________ is a direct form of employee compensation, including salary, or wage, overtime wage, commission, etc.

An increase in taxes on labor income shifts the labor supply curve ________ and the ________. A: leftward; after-tax wage rate falls B: rightward; before-tax wage rate rises C: leftward; after-tax wage rate rises D: rightward; before-tax wage rate falls

the minimum wage

The problem of unemployment will arise ______. A: if the minimum wage is set too high B: ff the minimum wage is set too love C: if the workers are unskilled D: if the maximum wage is set

Which of the following will increase the marginal product of labor in the labor market? A: An increase in the price level and the money wage. B: An increase in the real wage. C: A decrease in the capital stock. D: An increase in the supply of labor.

There will be an increase in tax for those earning in ______of twice the national average wage. (excessive)

The wage were low, there was no (apply) for the position.