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I need to know what textbook these testbank questions came from

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The questions are supposedly from this textbook. However I few people have told me this;textbook does not have testbanks or they cannot get.;Benjamin, D. Gunderson, M., Lemieux, T., Riddell, W.C., Labour Market Economics, 6th;Edition, McGraw Hill-Ryerson, 2007;1. Which of the following would cause an unambiguous increase in the equilibrium wage rate.;a. an increase in the supply of labour and an increase in the demand for labour;b. an increase in the supply of labour and a decrease in the demand for labour;c. a decrease in the supply of labour and an increase in the demand for labour;d. a decrease in the supply of labour and a decrease in the demand for labour;2. Which of the following statements describes a backward-bending labor supply;curve?;a. Every hour that I work represents a loss of an hour of leisure.;b. I asked for extra hours this month to pay for a new bicycle.;c. When I received my last raise, I cut back on my overtime hours so that I could work;fewer hours but earn the same amount of money per week.;d. I worked more hours when I was younger.;3. If labour demand is elastic, than an increase in the wage;a. will increase the wage bill.;b. will decrease the wage bill.;c. will have an indeterminate effect on the wage bill.;d. will decrease the tax revenue.;4. Leisure can be;a. considered to be an inferior good when a parallel outward shift of the budget line leads to an;increase in leisure.;b. considered to be a normal good when a parallel outward shift of the budget line leads to an;increase in leisure.;c. considered to be an inferior good when a parallel inward shift of the budget line leads to an;decrease in leisure;d. considered to be a normal good when a parallel outward shift of the budget line leads to a decrease;in leisure;5. If leisure is a normal good and the wage falls;a. the substitution effect will induce the consumer to take more leisure and the income;effect will induce the consumer to take more leisure;b. the substitution effect will induce the consumer to take less leisure and the income;effect will induce the consumer to take more leisure;c. the substitution effect will induce the consumer to take more leisure and the;income effect will induce the consumer to take less leisure;d. the substitution effect will induce the consumer to take less leisure and the income;effect will induce the consumer to take less leisure;6. Identify the truthfulness of the following statements.;I. The substitution effect of a wage change is unambiguous in its direction.;II. Direction of the income effect depends on whether the good is a normal or an inferior;good.;a. Both I and II are true.;b. Both I and II are false.;c. I is true, II is false.;d. I is false, II is true.;7. The income effect associated with a change in the wage a. describes the change in the level of;leisure as a result of the individuals change in utility, holding wage constant.;b. describes the change in the level of leisure, holding utility constant.;c. describes the change in the price of time.;d. can be either negative or positive with normal leisure;8. The substitution effect associated with a change the wage describes a. the change in the level of;leisure as a result of the individuals change in utility, holding wage constant.;b. the change in the level of leisure, holding utility constant.;c. the change in the price of time;d. both a) and c) are correct.;9. The substitution effect graphically is always denoted a. by movement along the original;indifference curve, whereas the income effect is represented by a rotation of the budget line.;b. by moving in the direction of the item that is becoming relatively more expensive.;c. by moving in the direction of the item that is becoming relatively cheaper and the income effect is;always denoted by a rotating budget line.;d. by movement along the original indifference curve, whereas the income effect is represented by a;parallel shift of the budget line.;10. Which of the following is true in Figure 1?;a. The wage rate is $4.;b. Non labour income is $400.;c. The optimal number of hours to supply is zero.;d. All of the above.;11. In Figure 1, the optimal number of work hours is;a. zero.;b. 100.;c. 400.;d. 300.;12. Wage elasticity of demand measures;a. the sensitivity of the wage to the quantity of labour demanded.;b. the sensitivity of the quantity of labour demanded to the wage.;c. the slope of the labour demand.;d. the relationship of percentages to the wage.;13. If both the demand for labour and the supply of labour decrease;a. the wage will fall and the quantity of labour will rise.;b. the wage will fall and the quantity of labour will fall.;c. the quantity of labour will fall and the wage may increase or decrease.;d. the wage will fall and the quantity of labour may increase or decrease.;14. Suppose leisure is a normal good. As the wage rate increases;a. work time should go up.;b. work time should go down.;c. work time will go up or down depending on the relative sizes of the income and substitution effect.;d. none of the above.;15. A backward bending labour supply curve occurs when;a. leisure is a normal good and the substitution effect dominates at low wage rates.;b. leisure is a normal good and the income effect dominates at high wage rates.;c. at low wages, leisure is a normal good, but at high wage rates leisure is an inferior good.;d. both (a) and (b).;16. The problem with reducing the implicit tax rate in a negative income tax system is;a. individuals at higher income levels receive benefits.;b. the cost of the program increases.;c. people will have less incentive to work.;d. both (a) and (b).;17. The theory of household productions assumes that the household derives utility from;a. income;b. time spent in home production;c. commodities produced by the household;d. market purchased goods services;18. In the theory of household production, the household must;a. determine what is to be produce.;b. determine how to go about produce the commodities they care about;c. determine the combinations of leisure and income that produce a certain level of utility;d. both (a) and (b).;19. In a one period model of household production the effects of a wage increase cause;a. the full price of time intensive home produced commodities to increase more than the full;price of market goods intensive home produced commodities.;b. the full price of time intensive home produced commodities to decrease less than the full;price of market goods intensive home produced commodities.;c. the full price of market goods intensive home produced commodities to increase more;than the full price of time intensive home produced commodities.;d. the full price of time intensive home produced commodities to increase and the full;price of market goods intensive home produced commodities to decrease.;20. In a one period model of household production, the substitution in consumption is;a. the effect of changing the relative full price on home produced commodities.;b. the effect of changing the price of consumption time;c. the effect of changing the price of market goods;d. the effect of changing the non-labour income of the household;21. If the wage rate is increasing over time, and household consumption time is decreasing, then;a. the substitution of the wage increase has been dominated by the income effect.;b. the substitution of the wage increase dominates the income effect.;c. the substitution in consumption working in the same direction as the substitution in;production.;d. the substitution in consumption works in the opposite direction as the substitution in;production.;22. An decrease in the tax rate an individual pays on their labour income;a. shifts the budget constraint the labour /leisure choice model to the right;b. shifts the budget constraint the labour /leisure choice model to the left;c. rotates the budget constraint the labour /leisure choice model to the left;d. rotates the budget constraint the labour /leisure choice model to the right;23. The wage that just makes an individual indifferent between being a participant in;the labour market and not being a participant is;a. the reservation wage;b. the optimal wage;c. the value of a person time in the market;d. the wage that determines full income.;24. An increase in an individuals non-labour income will;a. cause an decease in the reservation wage;b. cause an decease in the reservation wage, if leisure is an inferior good;c. cause an increase in the reservation wage, if leisure is a normal good;d. cause an increase in the reservation wage, the individual is a participant.;25. The Utility maximizing level of leisure occurs where;a. full income is reached;b. the marginal valuation of ones own time equals the wage rate;c. the marginal rate of substitution is maximize.;d. peak of the labour supply curve;26. A fixed money cost of holding a job;a. lowers the effective reservation wage;b. shift the budget constraint to the right.;c. shifts the labour supply curve to the left.;d. shifts the labour supply curve to the right.;27. An individual that is under employed;a. is better of keeping all their time for themselves.;b. values the last hour of work less than the market does.;c. will look for an overtime job.;d. values the last hour of work more than the market does.;28. Requiring a higher wage to work extra hours is the result of;a. marginal tax rates that are too high;b. individuals having the marginal rate of substitution less than the wage at their primary job;c. being over employed.;d. negative income taxes.;29. In a life cycle model of household production, with constant returns to scale and no joint;production, and a positive interest rate, if the wage in two periods the same then;a. the full prices of home produce goods will be the same;b. the full prices of home produce goods will be higher in the later period;c. the full prices of home produce goods will be higher in the earlier period;d. the full prices of home produce goods will depend on the production function;30. The Full price of a home produce good depends on;a. the price included the relevant taxes;b. the price of market goods and services and the price of ones own time.;c. the price of market good and services and the price of ones own time and production;function parameters;d. the level of income the household earns;31. The reservation wage is equal;a. to the level of non-labour income;b. to the wage at which utility is maximized;c. to the substitution effect;d. to the marginal rate of substitution evaluated at maximum of leisure time and non-labour;income;32. The participation effect is;a. the effect of increasing the number of individuals that vote.;b. the effect of increasing the number of individuals that enter the labour market;c. the effect of a change in non-labour income;d. effected by the shape of the backward bending labour supply curve.;33. In a negative income tax welfare system the break-even level of income;a. equals the minimum standard level of income divided by the negative tax rate.;b. is the level where income earned equals consumption expenditures;c. is the level of income where benefits are maximized.;d. the level of income the household earns when working full time.;34. At the utility maximizing level of leisure;a. the price of time is irrelevant;b. the leisure time is maximized;c. the marginal rate of substitution equals the wage;d. the level of income is irrelevant;35. Constant returns to scale of home production functions means;a. inputs can be written as functions of output;b. the scale of production is constant in terms of price;c. the level of output is independent of the income earned;d. that the full price of a home produced good is constant;36. The substitution effect of a wage change;a. must always dominate the income effect if leisure is normal;b. must always reinforce the income effect if leisure is normal;c. must always counteract the income effect if leisure is normal;d. is measured at the reservation wage.;37. An individual will be a non-participate in the labour market provided;a. the indifference curves between leisure and income are steep;b. a tangency between the budget constraint and the indifference curve is reached;c. at the point where leisure is at its maximum, the wage is less than the slope of the;indifference curve;d. at the point where leisure is at its maximum, the wage is more than the slope of the;indifference curve;38. If a person has preferences that lead to a choice of positive numbers of work hours, an increase in;the wage rate will result in;a. an income effect only;b. an increase or decrease in leisure time;c. possibly becoming a non-participant in the labour market;d. a higher reservation wage;39. A negative income tax welfare system has better work incentives than a program that;increases income up to a minimum level because;a. it creates a pure substitution effect;b. leads to a higher level of leisure;c. leaves a positive return to working;d. reinforcing income and substitution effects;40. In the negative tax welfare system, the higher the implicit tax rate;a. the higher the breakeven level of income;b. the lower the work incentive;c. the higher the cost of the program;d. all of the above.

 

Paper#15534 | Written in 18-Jul-2015

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