"The typical age-earning cycle provides evidence of economic discrimination by age." Do you agree or disagree? Why?
What will be an ideal response?
Disagree. The typical age-earning cycle starts with a low income, builds gradually to a peak at around age 50, and then gradually drops until it approaches zero at retirement. The variations of earning by age, however, reflect many economic factors other than age, including work experience and productivity, and the number of hours per week that are worked. Therefore, the age-earning cycle alone is not evidence of age discrimination.
You might also like to view...
Causation occurs when:
A) two variables tend to move in opposite directions. B) change in one variable is the reason for the change in another variable. C) two variables tend to move in the same direction. D) change in one variable does not cause any change in another variable.
For the Fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat 100 meals, your marginal cost of the 100th meal is:
A. $6. B. $0. C. $4. D. $0.25.
The expected revenues in auctions with risk-averse bidders with independent private values will be:
A. English = Second price = First price = Dutch. B. English > Second price > or < First price = Dutch. C. English > Second price > First price = Dutch. D. First price = Dutch > English = Second price.
Which of the following statements is a normative as opposed to a positive economic statement?
A. Consumer spending helps to create jobs. B. Labor unions should be allowed to organize in every country. C. When a government prints too much money, inflation tends to rise. D. If the price of cars goes up, people buy fewer cars.