Suppose that a prejudiced white employer is willing to hire white workers at a rate of $16/hour, and this employer has a discrimination coefficient of $4. This implies that the employer would:
A. Not hire a non-white worker regardless of wage rate
B. Hire a non-white worker only at a rate of $12/hour or less
C. Actually pay a white worker $20/hour
D. Pay a non-white worker only $4/hour
B. Hire a non-white worker only at a rate of $12/hour or less
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Refer to the figure above. What is the price effect of a price reduction from $6 to $4?
A) $300 B) $600 C) $900 D) $1,200
Refer to Figure 27-2. In the graph above, if the economy is at point A, an appropriate fiscal policy by Congress and the president would be to
A) execute an open market sale of government securities. B) increase marginal income tax rates. C) lower the discount rate of interest. D) increase government transfer payments.
Behavioral economists:
A. rely primarily on data drawn from the real world. B. rely primarily on experimental data. C. often arrive at unreasonable conclusions about consumer welfare. D. avoid mathematical models of behavior, as they do not adequately describe real world actions.
What is technology and what factors does it depend on?
What will be an ideal response?