Refer to the below table. What would the wage rates be if the 12 million female workers could work in labor market C only because of labor market discrimination, while half the 12 million male workers are employed in labor market A and the other half in labor market B?
Suppose there are only three labor markets (A, B, and C) in the economy and each of these markets is purely competitive. The table below contains the demand (or marginal-revenue-product) schedule for labor in each of these three markets. Assume there are 24 million homogeneous workers in the economy and that one-half of these workers are male and one-half are female
A. $7.00 for females and $7.00 for males
B. $7.00 for females and $13.00 for males
C. $8.00 for females and $13.00 for males
D. $8.00 for females and $11.00 for males
B. $7.00 for females and $13.00 for males
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Assume that each day a firm uses 13 employee-hours and an office to produce 100 units of output. The price of each unit output is $5, the hourly wage rate is $10, and rent on the office is $200 per day. Each day the firm earns a ________ of ________.
A. loss; $200 B. profit; $370 C. profit; $170 D. loss; $170
If devaluation does not improve the BOT, but only the BOP, this implies that
A) the capital account is in deficit. B) the current account is in surplus. C) the improvement comes in the capital account. D) Both B and C.
Which would be characteristic of a capitalist economy?
a. Reliance on international treaties. b. Competition and unrestricted markets c. Democracy d. Government ownership of the factors of production
Tax shifting
A. occurs when taxed agents can alter their behavior and do something to avoid paying a tax. B. occurs when taxes cause prices to increase, but wages to fall. C. is the way in which a tax is structured. D. is the ultimate distribution of a tax's burden.