Which of the following statements is not correct?
a. If a firm discriminates by paying short workers less than tall workers, the firm may be able to compete in the market if the firm's customers also prefer taller workers to shorter workers.
b. If the government passes regulations that prevent shorter workers from working in higher paying jobs, taller workers may continue to earn higher wages than shorter workers.
c. Government regulation that prohibits discrimination is economically necessary because market forces support discrimination.
d. Competitive markets will eliminate discrimination in wages over time unless customer preferences also reflect discrimination and/or government intervention promotes discrimination.
c
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There is a direct link between a nation's per capita real GDP and its:
a. c and e. b. c, d, and e. c. human capital investment. d. population. e. life expectancy.
Which of the following is an example of an externality?
a. cigarette smoke that permeates an entire restaurant b. a flu shot that prevents a student from transmitting the virus to her roommate c. a beautiful flower garden outside of the local post office d. All of the above are correct.