Worker discrimination occurs when
A) workers refuse to perform risky tasks.
B) employers pay different employees different wages based on race.
C) workers refuse to work with persons of a different race.
D) customers refuse to buy products produced by a racially diverse workforce.
C
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Which of the following summarizes the impact of population growth on the labor market?
A) This will increase the labor supply, reduce the equilibrium wage and increase the quantity of labor demanded. B) There will be an increase in both the demand for labor and the supply of labor. As a result, the equilibrium wage will not change. C) There will be an increase in the demand for labor. As a result, the wage rate will rise and the quantity of workers supplied will decrease. D) There will be an increase in the demand for jobs. This will result in an increase in the equilibrium wage rate and a movement along the labor supply curve.
When a nation's institutional environment is more favorable, it will
a. attract more physical investment. b. encourage individuals to invest more heavily in human capital. c. encourage the development and efficient use of natural resources. d. all of the above.
If a perfectly competitive firm's total revenue is less than its total variable cost, the firm
A) should raise its price above its average variable cost. B) should continue to produce and increase its demand. C) should stop production by shutting down temporarily. D) should adopt new technology in order to lower its costs of production.
When one country can produce a product at a lower cost in terms of other goods, that country is said to have
A. a comparative advantage. B. a productive advantage. C. an absolute advantage. D. an unfair advantage.