Politicians often point to wage differentials as evidence of labor market discrimination against ethnic minorities and women. Economists, however, argue against this approach because
a. they don't believe the wage differential really exists.
b. they can't agree on a definition of the term "discrimination."
c. they believe compensating differentials account for all wage differences.
d. different people may have different wages for reasons unrelated to discrimination.
d
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Many economists are critical of the minimum wage because they believe that it:
A. hurts the efforts of labor unions. B. reduces the number of available job opportunities. C. conflicts with policies designed to equalize the distribution of income. D. causes labor shortages in affected markets.
Emerging nations refer to
A. countries that have per capita real GDP (Gross Domestic Product) levels beyond those of advanced nations. B. developing countries that has experienced high economic growth so that they are closer to advanced-nation status. C. developing countries that has never experienced economic growth despite their potential. D. developed countries that have continued to experience high economic growth.
In economic utility analysis, consumer tastes and preferences are assumed
A. given but rapidly changeable. B. given and stable for an individual. C. to be determined by income. D. to be influenced by the prices of goods.
Which firm provides the better signal when trying to decide which of the? firms' stock to? buy?
A. Firm? D, which? hasn't been under SEC investigation for over 5 years. B. Firm? C, which has seen its stock go up by? $20 per share in the last week. C. Firm? B, which uses an internal group for auditing. D. Firm? A, which uses an independent accounting firm for auditing.