Many economists suggest that absent legal mechanisms of discrimination, the wage paid to whites and blacks will converge because
A. employers will feel guilty about hiring only whites.
B. if employers can hire whites and blacks at the same wage, they will hire equal numbers.
C. employers will feel guilty about paying whites more when other firms pay equally.
D. it will be in the interest of profit-minded employers to hire blacks, thus bidding up their wages.
Answer: D
You might also like to view...
In the long run, profit-maximizing monopolists facing a downward-sloping demand curve
A. can obtain profits greater than their opportunity costs of capital. B. can produce where average total costs are minimized C. can have a price that is the same as marginal revenue. D. All of these responses are correct.
Country A experienced a growth rate of real GDP per person of 2.5 percent per year throughout the 1900's. In view of other countries' experiences during this time country A's growth was
a. exceptionally high. b. moderately high. c. moderately low. d. exceptionally low.
Markets that exhibit economies of scale over the entire range of market output
A. Are perfectly competitive. B. Have upward-sloping long-run average total cost curves. C. Are natural monopolies. D. Have downward-sloping short-run average total cost curves.
A firm that shuts down in the short run experiences losses equal to its
A. total variable costs. B. total variable costs minus its total fixed costs. C. average variable costs. D. total fixed costs.