Comparable worth aims at
A) increasing the earnings of the least-skilled workers in the labor force.
B) raising the relative wages paid in jobs traditionally dominated by women.
C) reducing the relative income shares going to property owners.
D) securing equal wages for people performing identical jobs.
E) securing equal wages for people performing identical jobs and performing equally well.
B
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Suppose the price level falls. Because of fixed nominal wage contracts, firms become less profitable and they cut back on production. This is a demonstration of the
A. classical dichotomy theory of the short-run aggregate-supply curve. B. sticky-wage theory of the short-run aggregate-supply curve. C. misperceptions theory of the short-run aggregate-supply curve. D. sticky-price theory of the short-run aggregate-supply curve.
The output of a bakery is 250 loaves of bread, when 10 workers are employed. If one more worker is hired, the total output increases to 275 loaves
Given that labor is the only variable input that the bakery uses, and the market wage rate is $10, calculate the marginal cost when employment is increased from 10 to 11 workers.