Refer to the diagram and list of assumptions. If discrimination is ended:
(1) the labor force is comprised of 9 million men and 9 million women workers;
(2) the economy has 3 occupations, X, Y, and Z, each having identical demand curves for labor; (3) men and women workers are homogeneous with respect to their labor-market capabilities; (4) women are discriminated against by being excluded from occupations X and Y and are confined to Z; and (5) aside from discrimination, the economy is competitive, and workers seek to maximize their earnings.
A. men will leave occupations X and Y and enter occupation Z.
B. 4 million women will leave occupation Z, with 2 million entering occupation X and 2 million
entering occupation Y.
C. 3 million women will leave occupation Z, with 1.5 million entering occupation X and 1.5
million entering occupation Y.
D. 3 million women will leave occupation Z, all of whom will enter industry X.
C. 3 million women will leave occupation Z, with 1.5 million entering occupation X and 1.5
million entering occupation Y.
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Everything else equal, a depreciation of the dollar against the yuan:
A) will not affect the quantity of dollars demanded. B) will lead to a decrease in the quantity of dollars demanded. C) will lead to an increase in the quantity of dollars demanded. D) can either lead to an increase or a decrease in the quantity of dollars demanded depending on the magnitude of the depreciation.
Figure 6-9
In 1983, government price supports raised the price of sugar above its equilibrium value. Which graph in Figure 6-9 illustrates the impact of sugar price supports on the sugar substitute fructose?
A. 1 B. 2 C. 3 D. 4
If the liquidity effect is smaller than the other effects, and the adjustment to expected inflation is slow, then the
A) interest rate will fall. B) interest rate will rise. C) interest rate will initially fall but eventually climb above the initial level in response to an increase in money growth. D) interest rate will initially rise but eventually fall below the initial level in response to an increase in money growth.
In perfect competition, a firm’s marginal revenue is the same as the demand curve at high levels of output.
Answer the following statement true (T) or false (F)