The simplest economic definition of discrimination is
a. prejudice.
b. unequal pay for equal work.
c. a dislike by one group of associating with another group.
d. unequal pay for unequal work.
b
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An upward shift in the Fed's policy reaction function is a ________ of monetary policy, and the aggregate demand curve ________.
A. tightening; shifts left B. easing; shifts left C. tightening; shifts right D. easing; shifts right
In the life-cycle hypothesis, people are assumed to have a consumption pattern that leads them to dissave
A) at no point in their life. B) in the working years up to retirement. C) in their retirement years. D) in every year of their life.
Which of the following is true?
A) Buyers always prefer lower prices to higher prices. B) Buyers never prefer lower prices to higher prices. C) Buyers rarely prefer lower prices to higher prices. D) Buyers prefer lower prices to higher prices, ceteris paribus.
When the free rider problem is present in a market the good:
A. is not excludable. B. is rival in consumption. C. will be underconsumed. D. will be oversupplied.