Which of the following is a result of discrimination?
a. Two groups of workers earning different wages.
b. Two groups of workers paid the same wage, but proportionally fewer of one group are employed.
c. Equal pay and equal employment opportunities for two groups of workers with different productivities.
d. No workers from a particular group are employed.
c
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Suppose employees pay a bond of $1,000 to an employer. The gain from shirking is $400. Monitoring devices have been installed so that there is a 50% chance of being caught if you are shirking. The company is considering the installation of additional monitoring devices to increase the chance of catching a shirker to 100%. They feel this is needed to deter all shirking. What is your recommendation
to the company? Explain. What will be an ideal response?
The MU/P equalization principle means consumers will spend their income (budget) so that the MU/P ratio of the goods consumed is
a. zero for each good b. higher for goods the consumer wants the most (highest marginal utility) c. maximized for the goods the consumer wants the most (highest marginal utility) d. higher than TU/P e. the same for each good