Comparable worth advocates have proposed that employers be required by law to pay wage rates equal to the value of the job. The most telling objection to this proposal is that
A) employers will probably resist strenuously and successfully.
B) it is in the interest of employers to adjust their hiring so as to make the value of the job equal to the wage rate that must be paid.
C) the government has no legal authority to set wage rates in the private sector.
D) this would leave little or nothing for profits.
B
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When the LM curve is horizontal,
A) fiscal policy has no impact on equilibrium income. B) fiscal policy has no impact on the equilibrium interest rate. C) the economy is at full employment. D) monetary policy has no impact on equilibrium income.
Which of the following is an example of a positive externality?
a. Smoking a cigarette b. Driving a less fuel efficient vehicle c. Setting up a chemicals factory in a residential area d. Overuse of chemical fertilizers e. Beekeepers keeping bees for honey