The principal argument against comparable worth is that the demand and supply of labor in the labor market allocates workers to where they are needed the most
a. True
b. False
Indicate whether the statement is true or false
True
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During business contractions, the growth rate of Solow residuals is ________
A) near or below zero B) well above zero C) approaching infinity D) impossible to calculate
Labor supply
A) must necessarily increase when the real wage increases. B) increases if the substitution effect exceeds the income effect. C) is increasing and then decreasing in the real wage. D) increases when taxes increase.
A valid argument against redistributing income to achieve complete equality is that
a. income equality would destroy the social cohesiveness that exists among different income groupings. b. this would eliminate the monetary incentives to work and produce. c. the cost of obtaining the equality would be so deflationary as to promote economic instability. d. income equality would imply class segregation based on factors such as sex or race since income would be constant.
The answer is: "There is a net loss to society." What is the question?
A) What causes the distributional effects to outweigh the aggregate effects? B) What is an effect of a reduction in producers' surplus? C) What is an effect of consumers' surplus? D) What is the effect of a tariff instead of a quota? E) none of the above