Some economists are skeptical of the argument that employers are responsible for discriminatory wage differences. They argue that market economies provide a natural remedy to employer discrimination, and that remedy is
a. social responsibility.
b. the profit motive.
c. fear of reprisal from groups that suffer from those wage differences.
d. fear of reprisal from government in the form of prosecution.
b
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Luigi is willing to lend Klaus $5,000 for one year at a nominal rate of interest of 7%. Both Luigi and Klaus expect the rate of inflation to be 2% in the next year. How many dollars will Klaus have to pay Luigi in one year?
A. $350 B. $5,000 C. $5,350 D. $4,650
Which of the following is FALSE about issues/negotiations in the Doha Development agenda?
A) It is intended to deal with economic development issues and trade barriers facing developing countries that were not adequately addressed in the Uruguay Round. B) Many developing countries are upset with the levels of tariffs and other barriers that industrialized countries use to protect agriculture, clothing and textiles. C) Industrialized countries want developing countries to reduce their tariffs, which on average are higher than the rates of richer countries. D) Developing countries don't use tariffs, and they want higher income countries to follow their model.
First Safety, a commercial bank, has $6,000,000 of outstanding demand deposits and actual reserves of $1,700,000 . If the reserve ratio is 25 percent, what is the maximum amount of new loans the bank can extend?
a. $100,000 b. $425,000 c. $200,000 d. $1,500,000
Suppose the Environmental Protection Agency uses a corrective tax to set a price for pollution. Under this policy, is the supply curve for pollution rights vertical or is it horizontal?