Labor market discrimination refers to
a. differing economic opportunities offered to persons according to their productivity.
b. wage differentials based on productivity differences.
c. differing economic opportunities based on personal characteristics.
d. wage differentials based on seniority and human capital.
c. differing economic opportunities based on personal characteristics.
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Monetarists blame rising government deficits for rising inflation
A) because deficits shift aggregate demand to the right. B) so long as the aggregate supply curve is vertical. C) when financing these deficits involves money creation. D) because the deficits increase the demand for money and thus interest rates.
Suppose that an economy is currently experiencing 10 percent unemployment and 15 percent inflation. If in the process of bringing inflation down by 2 percentage points, real GDP falls by 6 percent for a year, the sacrifice ratio is
a. 5. b. 2. c. 12. d. None of the above is correct.