The idea of comparable worth implies that wages are to be determined by the job characteristics and not merely by the interaction of demand and supply
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In an industry with a large number of firms,
A) each firm will produce a large quantity, relative to market demand. B) one firm will dominate the market. C) collusion is impossible. D) competition is eliminated. E) barriers to exit must exist.
All of the following are considered among the four most important determinants in explaining exchange rate fluctuations in the long run except
A) relative rates of productivity growth across countries. B) preferences for domestic and foreign goods. C) tariffs and quotas. D) interest rates.
Both individual buyers and sellers in perfect competition
A) can influence the market price by their own individual actions. B) can influence the market price by joining with a few of their competitors. C) have the market price dictated to them by government. D) have to take the market price as a given.
An economy produces outputs X and Y using inputs L and K. Which of the following is NOT required for economic efficiency?
A) MRTSLK = MRSXY for all producers and consumers. B) MRTXY = MRSXY for all producers and consumers. C) MRSXY is equal for all consumers. D) MRTSLK is equal for all producers. E) None of the above. All of these are required for economic efficiency.