When a construction firm chooses not to hire Jane as a carpenter simply because she is female, it is called:
a. wage discrimination
b. job-entry discrimination.
c. affirmative action.
d. environmental factor discrimination.
b
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Refer to Figure 26-13. In the figure above, if the economy in Year 1 is at point A and is expected in Year 2 to be at point B, then the appropriate monetary policy by the Federal Reserve would be to
A) raise interest rates. B) lower income taxes. C) lower interest rates. D) raise income taxes.
If an economy operates below potential income, the actual deficit is:
A. larger than the structural deficit. B. comparable to the structural deficit. C. smaller than the structural deficit. D. the same as the structural deficit.
The division of labor means that:
A. labor markets are geographically segmented. B. unskilled workers outnumber skilled workers. C. workers specialize in various production tasks. D. each worker performs a large number of tasks.
Suppose the market for oranges is perfectly competitive and unregulated. Suppose also that the chemicals used to keep the oranges insect-free damage the environment by an estimated $1 per bushel of oranges. Suppose QD = 1000 - 100P and QS = -100 + 100P. The tax that would have to exist to achieve the socially optimal level of production would be
a. $0 b. $.50 c. $1 d. $2