The concept of comparable worth:
a. is that pay ought to be determined by job characteristics rather than by supply and demand.
b. is that pay ought to be determined by supply and demand rather than by job characteristics.
c. has made hiring practices much simpler for employers.
d. asserts that market-determined wages are the only appropriate way in which to allocate pay.
e. is easy to implement once a new worker has been hired.
a
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Financial markets quickly eliminate unexploited profit opportunities through changes in
A) dividend payments. B) tax laws. C) asset prices. D) monetary policy.
An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured workers dieting and exercising c. drivers of safer cars texting on their phones while driving d. borrowers investing their loan proceeds exactly as the bank requires
For a hotdog vendor, the hotdog buns represents his
A) fixed input. B) variable input. C) sunk cost. D) none of the above.
New Keynesian economics differs from real business cycle economics in that
a. markets are perfectly competitive in new Keynesian models. b. business cycles are fluctuations in the natural rate of unemployment in new Keynesian models. c. wages and prices are perfectly flexible. d. agents maximize utility in the new Keynesian model. e. none of the above.