The wage gap between ________________ workers has gotten closer since 1970, but the wage gap between ____________ workers has stayed fairly stagnant over the same time period.
a. immigrant and nonimmigrant/male and female
b. male and female/black and white
c. unionized and nonunionized/black and white
d. immigrant and nonimmigrant/unionized and nonunionized
b. male and female/black and white
The ratio of wages for black workers to white workers rose substantially in the late 1960s and through the 1970s, but has not changed much since then. The ratio of wages for female to male workers changed little through the 1970s, but has risen substantially since the 1980s. In both cases, a gap remains between the average wages of black and white workers and between the average wages of female and male workers.
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A market in which competition and entry are restricted by the granting of a public franchise, government license, patent, or copyright is called a
A) legal monopoly. B) natural monopoly. C) single-price monopoly. D) price-discriminating monopoly.
According to your text, nineteenth century economist Alfred Marshall believed that technical progress is best accomplished by
a. firms of considerable size that have the resources to engage in research and development b. universities where basic research is initiated c. curtailing competition so that firms will not lose money by experimenting in research and development d. the superior inventive force of a multitude of small competitive firms e. the government subsidizing research and development
Ultimately, the change in unemployment associated with a change in inflation is due to
a. the shape of the long-run aggregate supply curve. b. unanticipated inflation, not inflation per se. c. anticipated inflation, not inflation per se. d. a change in the natural rate of unemployment.
When Lucian starts his new job, he is given the option to contribute to his retirement fund, which the company will match up to 5 percent of his base salary. Lucian knows he can afford to contribute to his retirement fund; he only needs to file a form to
activate the contributions and matching. According to prospect theory, if Lucian is typical in his behavior, we would expect him to: A. take full advantage of the matching contribution because that would maximize his financial well-being. B. not file the form to start the contribution and match. C. negotiate with his boss for a higher match in order to increase his returns. D. only start contributions if the retirement portfolio is heavily weighted in high-return assets.