1. which of the following correctly describes the trend in US union membership?
a. union membership has been decreasing steadily since the 1930s
b. union membership decreassed from 1930-1960, but has been increasing steadily since
c. union membership peaked in the 1960s and has been decreasing steadily since
d. union membership delined until the 1980s but has been increasing steadily since
2. in recent decades, the union-nonunion hourly wage differential has:
a. increased slightly
b. fallen significantly
c. stayed the same
d. increased substantially
3. when a group of workers forms a union, they introduce an element of:
a. monopsony into the product market
b. pure competition into the labor market
c. monopoly in the labor market
d. monopoly into the product market
4. the less bowed the Lorenz Curve, the:
a. greated the number of low income people
b. greated the number of high income people
c. more equal the income distribution
d. less rqual the income distribution
5. which of the following statement are correct about the age earnings cycle?
a. earnings increase with age because wrkers become more productive as they age until around 50 years. around 50 of the effects of aging utweigh the furtherr increases in productivity.
b. earnings generally increase up till the age of 30 and then steadily decrease
c. since every person is different we can reach no general conclusions about the cycle
d. earnings increase throughout a person's lifetime until they reach retirement.