Describe the comparable worth controversy?
Although a comparable worth pay system may help eliminate wage discrimination, many economists are critical of such a pay system. They argue there are many subtle differences between jobs that help explain wage differentials that have nothing to do with discrimination. Economists do not deny the negative consequences associated with discrimination. But, they do argue that a bureaucratically administered comparable worth pay system may offer little, if any improvement. Most economists favor other methods to address discrimination.
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
When the central banks of various countries intervene in the foreign exchange market to maintain an exchange rate, this type of exchange rate system is called a ________ exchange rate system
A) fixed B) flexible C) all of the above D) none of the above
Beach resorts raise their prices during the summer months and yet more people book rooms at those times. Is this a violation of the law of demand?
Which of the following is a difference between a binding and a not binding price ceiling?
a. A binding price ceiling causes a shortage in the market, while a not binding price ceiling causes a surplus in the market. b. A binding price ceiling causes a surplus in the market, while a not binding price ceiling causes a shortage in the market. c. A binding price ceiling causes a shortage in the market, while a not binding price ceiling does not affect market behavior. d. A binding price ceiling causes a surplus in the market, while a not binding price ceiling does not affect market behavior.