SOLVED

51) Specialization of productive activity between men and women might explain why A) a married woman earns less than a married man. B) a never-married man earns more than a never-married woman. C) a never-married man earns the same as married man. D) None of the above answers is correct. 52) Economists who have compared the incomes of never-married men and women have found that with equal amounts of human capital, ________. A) the wages of these two groups are the same B) men earn significantly more than women C) women earn significantly more than men D) men specialize more in home production 53) Globalization means that firms recruit top talent from the global talent pool. Globalization means that the payoffs won by the contest winners ________. A) increase in size B) do not change in size C) might increase, decrease, or not change depending on whether the demand for contests changes by more than, less than, or the same amount as the supply of contests. D) decrease in size 54) Because of assortative mating, wealth becomes ________ and the distribution of wealth becomes more ________. A) more concentrated in a small number of families; equal B) more concentrated in a small number of families; unequal C) spread out among more families; equal D) spread out among more families; unequal 55) Assortative mating means that A) poor women and rich men tend to marry. B) rich women and rich men tend to marry. C) rich women and poor men tend to marry. D) there are limited incentives to marry anyone. 56) Assortative mating results in A) many people being able to marry their way out of poverty. B) wealth becoming more concentrated among families. C) the Lorenz curve moving rightward closer to the line of equality. D) people marrying at a later age. 57) The distribution of wealth is skewed in part because people with high wealth A) save very little. B) tend to marry people with similar wealth. C) have very little skills. D) do not earn much more than those with low incomes. 58) Making the distribution of wealth ________ equal is ________. A) more; differences in degrees of specialization B) less; differences in degrees of specialization C) more; assortative mating D) less; assortative mating 59) The higher the cost of acquiring skills, the ________ are the high-skilled and low-skilled labor ________ curves. A) closer together; demand B) farther apart; demand C) closer together; supply D) farther apart; supply 60) Which of the following is a reason why the wage rate of high-skilled workers exceeds the wage rate of low-skilled workers? A) The market for high-skilled workers is more competitive than the market for low-skilled labor. B) The demand for high-skilled workers exceeds the demand for low-skilled workers. C) The number of high-skilled workers exceeds the number of low-skilled workers. D) Low-skilled workers often are in the process of acquiring more human capital. 61) Which of the following is NOT a potential reason for wage differences by race or sex? A) discrimination B) differences in human capital C) differences in the degree of specialization D) All of the above are potential reasons for wage differences by race or sex. 62) Which of the following will NOT increase a worker’s human capital? A) more work experience B) more training C) more schooling D) a higher wage rate