The principal argument against comparable worth is that:
a. men and women differ largely in terms of their productivities.
b. market does not function correctly and leads to inefficient allocation of resources.
c. market allocates scarce resources to their most valued use in the most efficient manner.
d. demand and supply do not allocate workers to where they are needed the most.
e. legislation by the government are often appropriate as it processes all the available information correctly.
c
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As a falling price eliminates a surplus in the jersey market,
A) the demand curve for jerseys shifts leftward, and the supply curve of jerseys shifts rightward. B) consumers increase the quantity of jerseys they demand. C) producers increase the quantity of jerseys they supply. D) producers decrease the quantity of jerseys they supply, and buyers decrease the quantity of jerseys they demand. E) the demand curve for jerseys shifts rightward, and the supply curve of jerseys shifts leftward.
To be able to price discriminate, a firm must
A) lower prices for all customers. B) raise prices for all customers. C) be able to identify and separate different types of buyers. D) sell a product that can be resold. E) Both answers B and C are correct.
Subsidies are payments made by the government of a country to:
a. foreign firms to encourage imports. b. foreign firms to encourage domestic exports. c. domestic firms to encourage exports. d. domestic firms to encourage imports. e. domestic firms to ensure domestic consumption of their goods.
If the demand for a product increases in an increasing cost industry, as the market adjusts in the long run,
a. price will rise. b. the firm's per-unit costs will increase. c. the firm's per-unit costs will fall. d. the market price will return to its initial position.