If labor markets are competitive, discriminating employers:
a. suffer no economic consequences from discrimination
b. incur higher costs as a result of discrimination and are therefore at a competitive disadvantage.
c. incur lower costs than nondiscriminating employers and therefore have a competitive advantage.
d. enjoy higher profits.
b
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Which of the following is a correct statement about bond prices, other things equal?
a. a lower face value leads to a higher bond price b. a higher risk of default leads to a higher bond price c. a higher risk of default leads to a lower yield d. fewer coupon payments lead to a higher bond price e. a higher price leads to a lower yield
An upward-sloping supply curve of labor implies that
a. any quantity of workers can be hired at the same wage rate b. a higher wage rate is required to attract more laborers c. there is an excess supply of labor in the labor market d. the total labor cost curve is horizontal e. the marginal physical product curve of labor must also be upward sloping