Cases involving unequal pay for equal work and unequal access to promotion are monitored by:
a. the Council of Economic Advisors.
b. the Equal Employment Opportunity Commission.
c. the Federal Trade Commission
d. the Social Security Administration.
b
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A monopolistically competitive firm that earns an accounting profit in the short run
A) could earn an economic profit or break even, but could not suffer an economic loss in the short run. B) does not earn enough to earn an economic profit in the short run. C) could earn an economic profit, break even, or suffer an economic loss in the short run. D) must also earn an economic profit in the short run.
One of the commonly used assumptions in deriving the Heckscher-Ohlin model is that tastes are homothetic, or that if the per capita incomes were the same in two countries, the proportions of their expenditures allocated to each product would be the
same as it is in the other country. Imagine that this assumption is false, and that in fact, the tastes in each country are strongly biased in favor of the product in which it has a comparative advantage. How would this affect the relationship between relative factor abundance between the two countries, and the nature (factor-intensity) of the product each exports? What if the taste bias favored the imported good?
In many cities, garbage collectors earn more than social workers. What could explain this wage differential?
a. Social work provides more nonmonetary rewards than garbage collecting does. b. There is a greater demand for social workers. c. There is a greater supply of trash collectors. d. Collecting garbage requires less skill. e. Social work is a less prestigious profession.
Recall the Application about space debris in the atmosphere to answer the following question(s).Recall the Application. Which of the following is true?
A. Over 20,000 pieces of junk as large as a softball are estimated to be orbiting the earth. B. Modern global positioning satellites (GPS) are at risk of colliding with orbital junk. C. Solving the space junk problem will require international cooperation. D. All of these