Which of the following is true?
a. Employers who discriminate against women will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity).
b. If employers can hire equally productive female employees at a lower wage than males, the profit motive gives them a strong incentive to do so.
c. The female/male earnings ratio is higher for persons who are married than for those who remain single.
d. Both a and c are true.
B
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If a firm uses only capital and labor as inputs, then what should the firm do at a given rate of production if the marginal physical product of labor per last dollar spent is higher than the marginal physical product of capital per last dollar spent?
A) The firm should increase both the quantity of capital and the quantity of labor. B) The firm should decrease both the quantity of capital and the quantity of labor. C) The firm should increase the quantity of capital and reduce the quantity of labor. D) The firm should decrease the quantity of capital and increase the quantity of labor.
The above table has data from the nation of Atlantica. Based on these data, at what point does saving equal zero?
A) None, dissavings is present at all of the above points. B) Between disposable income of $0.0 and $1.8 trillion C) Between disposable income of $4.0 trillion and $5.8 trillion D) Between disposable income of $2.0 trillion and $3.2 trillion E) None, savings is present at all of the above points.
Based on the above table, which shows the firms and sales in an industry, what is the approximate value of the Herfindahl-Hirschman Index?
A) 1,660 B) 2,300 C) 4,800 D) 10,000
One important unintended consequence of the Smoot-Hawley Tariff Act was to:
a. lessen the severity of the Great Depression by increasing exports. b. provide the federal government with an effective tool for exercising monetary policy. c. increase the efficiency of domestic automobile production. d. increase the severity of the Great Depression by causing other countries to retaliate, and thus leading to a decline in exports. e. increase the U.S. government budget deficit by $15 million.