Programs to control government spending automatically kick in when government spending exceeds 15% of gross domestic product
Indicate whether the statement is true or false
F
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Which of the following is true?
a. Employers who discriminate against blacks and other minorities will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity). b. After adjusting for factors such as education, experience, and location, the earnings of black men are almost identical to the earnings of similar white men. c. If employers can hire equally productive minority employees at a lower wage than non-minorities, the profit motive provides a strong incentive to do so. d. The empirical evidence indicates that the earnings gap between whites and blacks is entirely the result of employment discrimination.
Suppose that the labor market for life guards is initially in equilibrium. Then a new television series debuts which glamorizes the social opportunities for life guards. What happens to the equilibrium wage and quantity of life guards?
a. Both the equilibrium wage and quantity increase. b. Both the equilibrium wage and quantity decrease. c. The equilibrium wage increases, and the equilibrium quantity decreases. d. The equilibrium wage decreases, and the equilibrium quantity increases.
A possible benefit of unions is lower turnover among workers, which in turn leads to lower training costs.
Answer the following statement true (T) or false (F)
The demand for a monopoly's output is p = 200 - Q. The monopoly's production function is Q = 2L, and the market wage is $4. How many units of labor will the monopolist employ at its profit maximization level of output?
A) L = 49.5 B) L = 4623 C) L = 198 D) L = 10