Unequal pay that is caused by economic discrimination will be due to
A) a noneconomic factor.
B) differences in the marginal revenue product.
C) a monopolistic labor market.
D) difference in human capital.
Answer: A
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Consider the monopsony in the above figure. The monopsony will pay a hourly wage rate equal to
A) $10. B) $15. C) $20. D) None of the above answers is correct.
Suppose MPL = 20 and MPK = 40 and the rental rate on capital is $10 . If the level of production is currently efficient, the wage rate must be
a. $10 b. $5 c. $20 d. $40
A rightward shift in the aggregate supply curve with no change in the aggregate demand curve signals an economic expansion
a. True b. False Indicate whether the statement is true or false
If an economy is operating at a point inside the production possibilities curve,
What will be an ideal response?