Which of the following explains the differences in earnings by race?
A. differences in productivity
B. racial discrimination
C. differences in education and work experience
D. All of these
Answer: D
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In general, the number of firms is lesser in monopolistic competition compared to oligopoly
a. True b. False Indicate whether the statement is true or false
If a group of professionals successfully lobby the government to require workers in their profession to have a license, the most likely result will be a(n)
a. reduction in the supply of such professionals and a decrease in their wage rate b. reduction in the demand for such professionals and an increase in their wage rate c. reduction in the supply of such professionals and an increase in their wage rate d. reduction in the demand for such professionals and a decrease in their wage rate e. increase in the demand for such professionals and an increase in their wage rate