Once during a U.S. presidential campaign, a lobbyist for a prominent national women's organization made the claim that women in the United States earn $0.60 for every $1.00 earned by a man. A reporter, who was prepared for this statement, asked the
lobbyist why wages paid to the organization's secretarial staff (all of whom were women) were significantly below the national average if they were truly interested in raising the rates of compensation for women. If you were the lobbyist, how would you have answered this question? Do you think your answer is convincing? Explain.
The lobbyist would likely respond by citing factors that explain wage differences on the basis of compensating differentials, education, and job experience. These arguments would be convincing to those who subscribe to the marginal productivity theory of compensation.
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Under the conditions set for the taking of property by eminent domain, the government could take private property
A) to build a highway. B) to allow a private developer to construct residential housing. C) so a professional sports franchise can build a new stadium. D) all of the above
If government taxes a firm which pollutes this will
a. increase the demand for the good produced. b. decrease the supply of the good produced. c. increase the equilibrium quantity of the good produced in the market. d. decrease the equilibrium price of the good produced in the market. e. all of the above.
A decrease in the rate of inflation will increase the rate of unemployment.
Answer the following statement true (T) or false (F)
Compared to a monopolist, the demand curve for a perfectly competitive firm will be
A. as elastic. B. less elastic. C. unitary elastic. D. more elastic.