Which of the following is true?
a. The empirical evidence indicates that the earnings gap between whites and blacks is entirely the result of employment discrimination.
b. After adjusting for factors such as education, experience, and location, the earnings of black men are almost identical to the earnings of similar white men.
c. If employers can hire equally productive minority employees at a lower wage than non-minorities, the profit motive provides a strong incentive to do so.
d. Employers who discriminate against blacks and other minorities will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity).
c. If employers can hire equally productive minority employees at a lower wage than non-minorities, the profit motive provides a strong incentive to do so.
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"Dividing the economic pie more equally may reduce the size of the economic pie." This argument is characterized as:
a. untrue. b. a form of discrimination. c. a conflict between equity and efficiency. d. a conflict between full employment and economic growth. e. b and c.
Describe the origins of the Fed and the arguments about the independence of the Fed
Suppose the price of X increases by 10 percent while the quantity demanded of Y does not change. We would conclude that
A) the two goods are substitutes, but the cross elasticity of demand is not large. B) the two goods are complements, but the cross elasticity of demand is not large. C) the two goods are perfect substitutes. D) the two goods are not related.
The United States has the least income inequality of all the nations in the world.
Answer the following statement true (T) or false (F)