#1
What is 'human capital' in labor economics?
Physical capital owned by individuals
Educational and experiential attributes of labor
Labor unions' collective bargaining power
Financial capital invested in human resources
#2
According to Herzberg's Two-Factor Theory, which of the following is a hygiene factor in the workplace?
Recognition
Achievement
Company policy
Advancement
#3
What is the 'minimum wage'?
The wage set by employers as the minimum acceptable payment for a job
The wage set by the government as the lowest legal payment for most workers
The wage determined through collective bargaining between labor unions and employers
The wage determined by market forces without any external intervention
#4
Which of the following best describes 'job satisfaction'?
The level of income earned from a job
The emotional and psychological fulfillment derived from a job
The number of hours worked per week
The likelihood of getting a promotion
#5
Which of the following best describes 'compensating wage differentials'?
Wage differences due to discrimination
Wage differences due to variations in the cost of living
Wage differences due to differences in job characteristics
Wage differences due to variations in educational attainment
#6
In labor economics, what does the term 'efficiency wage' refer to?
Wages paid to ensure workers' well-being
Wages paid to maintain labor unions' support
Wages paid to attract skilled workers
Wages paid above the market rate to increase worker productivity
#7
What is the primary focus of labor market segmentation theory?
Examining wage differentials between different regions
Exploring variations in wage levels based on industry sectors
Analyzing how labor markets are divided into distinct segments
Assessing the impact of immigration on labor market dynamics
#8
Which concept in organizational theory refers to the process of adapting to changes in the external environment?
Organizational learning
Organizational culture
Organizational change
Organizational design
#9
What does the 'Labor Force Participation Rate' measure?
The percentage of the total population that is employed
The percentage of the working-age population that is either employed or actively seeking employment
The percentage of the total population that is unemployed
The percentage of the working-age population that is employed
#10
Which theory of the firm emphasizes the importance of a hierarchical structure and clear division of labor?
Transaction Cost Economics
Agency Theory
Resource-Based View
Principal-Agent Theory
#11
According to institutional theory, what drives organizations to mimic successful practices of other firms?
Minimizing transaction costs
Increasing organizational efficiency
Gaining legitimacy and social acceptance
Achieving economies of scale
#12
Which of the following is NOT a characteristic of a monopsonistic labor market?
Single buyer of labor
Ability to set wage rates
Perfect competition among workers
Limited mobility for workers
#13
In the context of labor economics, what does the term 'reservation wage' signify?
The wage below which a worker is not willing to accept employment
The minimum wage mandated by law
The wage paid to temporary workers
The wage paid during probationary periods
#14
Which theory of organizational behavior emphasizes the role of leadership styles in motivating employees?
Contingency Theory
Social Exchange Theory
Transformational Leadership Theory
Equity Theory