Some people believe that women earn less than men because female held jobs have been historically devalued and that women should be given equal pay for equal work. This belief is called
a. comparable worth
b. affirmative action
c. glass ceiling
d. absenteeism
Ans: a. comparable worth
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A pollution permit trading system
a. is not a market-oriented policy instrument b. is used to combat acid rain in the United States c. is not viable on an international level d. is not capable of achieving a cost-effective solution
The monopolist determines the price and quantity combination that maximizes short-run profits by
A) finding the quantity at which marginal cost and marginal revenue are equal and then using the demand curve to find price. B) determining the price by finding the highest price at which sales can be made and then using the demand curve to find the appropriate quantity. C) finding the point at which marginal revenue and demand intersect. This gives the price and quantity that maximizes profits. D) finding the quantity at which average revenue and average total cost are furthest apart.
Which of the following illustrates the law of diminishing marginal utility?
a. The marginal utility of Diane's second Coke is greater than the marginal utility of her third pretzel, other things constant. b. The marginal utility of Diane's second Coke is greater than the marginal utility of Ken's third pretzel, other things constant. c. The marginal utility of Diane's second Coke is greater than the marginal utility of her third Coke, other things constant. d. The total utility of one Coke is greater than the total utility of two Cokes, other things constant. e. The marginal utility of Diane's second Coke is greater than the marginal utility of Ken's third Coke, other things constant.
Questions that address the cause-and-effect analysis of actions and their consequences are
A. positive questions. B. normative questions. C. not testable. D. subjective.