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1. Within the last 60 years, women have poured into the labor force. Whereas in 1948 less than one-third of women worked for pay at some point during the year, by 2004, 59.2 percent of women were labor force participants. However, recent years have seen this trend of growth weakening. During which year did the labor force participation rate of women peak? |
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| A) 1989 |
| B) 2004 |
| C) 2000 |
| D) 1999 |
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2. According to work done Francine Blau and Lawrence Kahn, economists at Cornell, married women's hourly wages, adjusted for inflation, rose by about 12 percent during the 1980s and by 17-20 percent during the 1990s. During the same spans of time, the average number of hours worked by married women rose by 29.2 percent and 8.8 percent, respectively. What can we casually infer about the roles of substitution and income effects of women's wages on their labor supply during these times? |
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A) The substitution effect is stronger than the income effect in both decades, but the substitution effect is weaker in the 90s than in the 80s
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B) The substitution effect is stronger than the income effect in both decades, but the substitution effect is stronger in the 90s than in the 80s
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C) The substitution effect is weaker than the income effect in both decades, but the substitution effect is weaker in the 90s than in the 80s
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D) The substitution effect is weaker than the income effect in both decades, but the substitution effect is stronger in the 90s than in the 80s
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3. Despite the growth in women's wages, women still are paid less than men. Among full-time wage and salary workers 25 years of age or older in 2003, the median woman's weekly wages equaled 78.5 percent of what the median man earned, up from 62.1 percent in 1979. If the rate that women are closing the 'gender gap' continues at the average pace between 1979 and 2003, in what year will the median woman earn as much as the median man? |
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| A) 2012 |
| B) 2028 |
| C) 2040 |
| D) 2071 |
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4. Confirming the importance of a college education, the Census Bureau recently reported that women between 25 and 64 with at least a bachelor's degree and who worked full-time throughout the year in 2003 earned about $46,500 that year-over 60 percent more than women without a bachelor's degree. Since 1967, the share of the female labor force with a 4-year college degree has: |
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| A) Doubled |
| B) Tripled |
| C) Quadrupled |
| D) Quintupled |
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