Economic theory predicts that
(a) market forces impose stiff penalties on profits whenever enterprises discriminate against individuals on any basis other than productivity.
(b) government intervention is required to combat discrimination.
(c) market mechanisms and government interventions are weak in addressing issues of discrimination. However, government is relatively stronger.
(d) discrimination is a necessary part of life private and public life.
(a)
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When the economy is at its potential output level, which of the following is true? a. The price level is higher than that expected by workers. b. The nominal wage is equal to the real wage
c. The unemployment rate is about 14 percent. d. The economy is producing its maximum sustainable output. e. The actual price level is less than the expected price level.
The unionization rate in the United States has been
A. Declining for over 40 years. B. Increasing for the last 5 years. C. Declining for approximately 15 years. D. Declining for approximately 30 years.
The monopsonist faces the entire _____ curve of labor.
A. supply B. demand C. demand curve and supply
In monopolistically competitive markets,
A) price is greater than it would be in perfect competition. B) price is less than it would be in perfect monopoly. C) quantity is greater than it would be in perfect monopoly. D) All of the above.