It is estimated that, on the average and ________, union wages are ________ because ________
A) taking account of skill differentials; 30 percent higher than nonunion wages; union workers are better qualified than nonunion workers
B) without taking account of skill differentials; equal to nonunion wages; differentiating based on union membership is discrimination and illegal
C) without taking account of skill differentials; 15-20 percent higher than nonunion wages; employers are biased against nonunion workers
D) taking account of skill differentials; 30 percent higher than nonunion wages; in some industries union workers perform jobs that require greater skill than nonunion workers and employers show bias against nonunion workers
E) without taking account of skill differentials; 30 percent higher than nonunion wages; in some industries union workers perform jobs that require greater skill than nonunion workers
E
You might also like to view...
The long-run opportunity cost of government spending crowding out private investment: a. equals about 10 percent of GDP
b. lowers interest rates and results in lower interest income for U.S. resource owners. c. would be greater if the government's expenditures were invested in building better highways and a more educated workforce. d. results from the corresponding contractionary gap. e. would be greater if the government's expenditures were devoted to increasing retirement benefits rather than to educating the work force.
The tax multiplier equals 1 ? spending multiplier
a. True b. False Indicate whether the statement is true or false
Sometimes economists disagree because their scientific judgments differ. Which of the following instances best reflects this source of disagreement?
a. One economist believes everyone should pay the same percentage of their income in taxes; another economist believes that wealthier citizens should pay a higher percentage of their income in taxes. b. One economist believes that manufacturing firms should face greater regulation to preserve the environment; another economist believes the government should not intervene in free markets. c. One economist believes that equality should be valued over efficiency in policy decisions; another economist believes that efficiency should be valued over equality in policy decisions. d. One economist believes the government should tax a household's income; another economist believes the government should tax a household's consumption.
Increasing marginal cost is associated with:
a. decreasing marginal product. b. increasing marginal product. c. decreasing average product. d. increasing total product.