Which of the following is the clearest evidence of employment discrimination against minority employees?
a. the average wage of minority workers is lower than the average wage of whites.
b. the average hours worked by minority employees exceeds the hours worked by whites.
c. the mean number of years of schooling of minority workers is lower than that of whites.
d. the average wages of minority employees are lower than the average wages of whites with similar productivity characteristics.
D
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The spread between price and marginal cost of an exhaustible resource must grow by the rate of interest so that
A) resource owners earn a profit. B) resource owners are willing to sell some of the resource in the future. C) the price of the resource remains constant in real terms. D) the marginal cost of extracting the resource declines.
The United States economy in the mid-2000 . did not experience stagflation because
a. energy prices declined. b. the energy content of GDP declined. c. the U.S. economy became more volatile since 1980. d. all of the above.
If we include environmental degradation and natural resource depletion in GDP, then:
a. GDP would increase. b. GDP would decrease. c. GDP would not change. d. the change is impossible to determine.
The profit-maximizing monopolist will never operate in a price range over which
A. P > MC. B. demand is inelastic. C. P > MR. D. the demand curve slopes downward.