When employment discrimination results from the personal prejudices of employers, economic theory suggests that
a. employers who discriminate will have lower production costs.
b. the wages of employees who are discriminated against will rise.
c. employers who discriminate will have the same production costs as those who do not discriminate.
d. employers who discriminate will have lower profits.
D
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Who makes investment decisions in most modern industrial societies? Discuss the roles played by firms, households, and the capital market
What will be an ideal response?
Suppose the production function for coffee (C) is C = min(B,W), where B = beans in pounds and W = water in gallons. Suppose the price of water is $.10 per gallon and the price of beans is $10 per pound. The cost minimizing combination of beans and water for C = 200 is
a. B = 200, W = 2000 b. B = 2000, W = 200 c. B = 100, W = 100 d. B = 200, W = 200
High protective tariffs
A. would be supported by most economists. B. will become more likely if we do not reduce our trade deficit. C. have very little support. D. would definitely solve all our trade problems.
If the price of golf balls increases, what will likely happen to the demand for golf club manufacturing employees?
A) It will increase. B) It will decrease. C) It will stay the same. D) Nothing, the two are not related.