ECON 308 California State University Equilibrium Wage Rate Economics Questions

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rses/70898/quizzes/196371/take
Started: May 11 at 3:01pm
Quiz Instructions
Choose the best answer on the multiple choice. Be brief, and too the point on the essays. You
are allowed to use your notes, but you are not allowed to communicate with others or use the
internet. You will have 2 hours to take the exam.
Question 1
1 pts
Statement 1: Sometimes a firm with monopoly power will vertically integrate
when it wants to sell its product to two different markets at different prices.
Statement 2: Sometimes a firm will want to vertically integrate despite a
competitive market to purchase the ingredient if quality is difficult to
determine at the time of purchase.
Statement 1 is true, but 2 is false
Both statements are true
Statement 2 is true, and 1 is false
O Both statements are false.
Question 2
1 pts
MacBook
70898/quizzes/196371/take
JualtiCIL II LIUC, VUL ZITAIS
Both statements are true
Statement 2 is true, and 1 is false
Both statements are false.
Question 2
1 pts
Statement 1: Sometimes firms will want to vertically integrate so that they
can alter the tax jurisdiction where they earn profit.
Statement 2: When there is a lot of asset specificity and very little
uncertainty about the future, vertical integration is typically preferred to a
long term contract.
Both statements are true
Statement 1 is true, but 2 is false
Both statements are false.
Statement 2 is true, and 1 is false
Question 3
1 pts
170898/quizzes/196371/take
Both statements are false.
Statement 2 is true, and 1 is false
Question 3
1 pts
Statement 1: Incentive pay is often cheaper than paying employees with a
fixed salary.
Statement 2: Incentive pay often gives incentive for employees to do things
that management won’t like.
Both statements are false.
O Statement 2 is true, and 1 is false
Statement 1 is true, but 2 is false
Both statements are true
Question 4
1 pts
Statement 1: Every type of pay scheme has some component of incentive
pay, but some have much more significant incentive pay components.
Statement 2. The most nrofitable level of effort hvemployees can be found
es/70898/quizzes/196371/take
Statement is true, but 2 is raise
O Both statements are true
Question 4
1 pts
Statement 1: Every type of pay scheme has some component of incentive
pay, but some have much more significant incentive pay components.
Statement 2: The most profitable level of effort by employees can be found
by getting them to work for as long as the direct contribution to the firm’s
revenue is larger than the compensating differential that must be paid to
them for the unpleasantness of the extra effort.
Both statements are true
O Both statements are false.
Statement 1 is true, but 2 is false
Statement 2 is true, and 1 is false
Question 5
1 pts
Statement 1: A firm paying its employees a little more than the equilibrium
wage rate will find that employees stay at the firm for much of their careers,
ses/70898/quizzes/196371/take
Statement 2 is true, and 1 is false
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Question 5
1 pts
Statement 1: A firm paying its employees a little more than the equilibrium
wage rate will find that employees stay at the firm for much of their careers,
but there will be very little firm specific human capital acquired by the
employees.
Statement 2: Firms using internal labor markets typically pay their
employees more than they could get elsewhere for their entire careers.
Both statements are false.
O Statement 2 is true, and 1 is false
Both statements are true
O Statement 1 is true, but 2 is false
Question 6
1 pts
Bob and Isabella are playing the non-cooperative simultaneous game
illustrated below. In the game Bob picks the rows (A or B) and Isabella picks
the columns (C or D).

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