Refer to the diagram and list of assumptions. If discrimination is ended, women:
(1) the labor force is comprised of 9 million men and 9 million women workers; (2) the economy has 3 occupations, X, Y, and Z, each having identical demand curves for labor; (3) men and women workers are homogeneous with respect to their labor-market capabilities; (4) women are discriminated against by being excluded from occupations X and Y and are confined to Z; and (5) aside from discrimination, the economy is competitive, and workers seek to maximize their earnings.
A. and men will both receive a wage rate of $4.
B. and men will both receive a wage rate of $5.
C. and men will both receive a wage rate of $6.
D. will receive a wage rate of $4 and men will receive a wage rate of $5.
B. and men will both receive a wage rate of $5.
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Exhibit 3-3 Demand curves
Which of the graphs in Exhibit 3-3 depicts the effect of a decrease in the price of pizza on the demand curve for pizza?
A. Graph A. B. Graph B C. Graph C. D. Graph D.
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline