Evidence of discrimination in labor markets
a. applies only to race and gender.
b. is conclusively identified by large differences in average wages rates between men and women.
c. is difficult to verify by reference to differences in average wage rates.
d. is more easily identified on the basis of race than gender.
c
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If a firm is willing to supply the 1,000th unit of a good at a price of $23 or more, we know that $23 is the
A) highest price the seller hopes to realize for this output. B) minimum price the seller must receive to produce this unit. C) average price of all the prices the seller could charge. D) price that sets the marginal benefit equal to the price. E) only price for which the seller is willing to sell this unit of the good.
A firm's isoquant shows
a. the amount of labor needed to produce a given level of output with capital held constant. b. the amount of capital needed to produce a given level of output with labor held constant. c. the various combinations of capital and labor that will produce a given amount of output. d. None of the above.
The Clean Air Act of 1970
a. set up a depletion tax system b. reduced air pollution standards c. recognized air as a resource d. established a system of transferable pollution rights e. forbade producers to emit any pollutants into the air
Following Keynesian economics, and assuming a marginal propensity to consume (MPC) of 0.75, an increase in federal government spending of $100 billion at below full employment would be expected to shift the aggregate demand curve by $300 billion to the right
a. True b. False Indicate whether the statement is true or false