A person who wins a large sum of money in the state lottery is likely to
a. increase the amount of market work offered at each wage rate
b. not change the amount of work offered at each wage rate
c. decrease the amount of work offered at each wage rate
d. substitute market work for leisure time due to the substitution effect
e. substitute market work for leisure time due to the income effect
QUESTION 2The Equal Employment Opportunity Commission
a. was established by the Equal Rights Act of 1984
b. examines cases in which a worker is not paid the same as other workers performing the same work
c. guarantees a worker's right to a job
d. established a minimum wage for minorities
e. has effectively eliminated racial discrimination in the workplace
QUESTION 3A large inheritance from a relative will tend to
a. cause movement up and to the right along your labor supply curve
b. cause movement down and to the left along your labor supply curve
c. shift your labor supply curve outward
d. shift your labor supply curve inward
e. make the income effect of a wage increase positive
QUESTION 4Firms that are required to participate in affirmative action programs do end up hiring more minority employees.
a. True
b. False
QUESTION 5Which of the following would reduce the supply of an athletic trainer's services at today's wage rate, other things constant?
a. a reduction in the individual's income from other sources
b. an improvement in the quality of the work environment
c. an increase in the amount of control the trainer has over the use of time on the job
d. a trainer's future earning possibilities go down due to a new negative image associated with this work
e. an increase in the trainer's preference for this type of work
QUESTION 6The distribution of income in a market economy is primarily determined by differences in
a. effort and sacrifice and intelligence with the most important factor being intelligence since human capital is a resource
b. the level of needs of the average or median income individual when selling her labor
c. resource ownership and the value that resources buyers place on the resources that are sold in the marketplace
d. the level of government intervention in the economy as it relates to job openings
e. the amount of time that an individual spends working and the intensity of this effort