Describe the comparable worth controversy?
What will be an ideal response?
Although a comparable worth pay system may help eliminate wage discrimination, many economists are critical of such a pay system. They argue there are many subtle differences between jobs that help explain wage differentials that have nothing to do with discrimination. Economists do not deny the negative consequences associated with discrimination. But, they do argue that a bureaucratically administered comparable worth pay system may offer little, if any improvement. Most economists favor other methods to address discrimination.
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Discouraged workers are classified by the BLS as
A) out of the labor force. B) part-time employees. C) employed. D) part of the labor force. E) unemployed.
When a tax is imposed on a good, the actual incidence of the tax generally
a. falls entirely on the buyer. b. falls entirely on the seller. c. is shared between the buyer and seller. d. is the same as the statutory incidence.
The Soviet Union economy of the 1980s would best be classified as:
A. a command system. B. laissez-faire capitalism. C. a market system. D. pure capitalism.
Explain what is meant by "internalizing an externality," and describe three methods by which this can be done.
What will be an ideal response?