Which of the following is true?
a. Employers who discriminate against blacks and other minorities will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity).
b. After adjusting for factors such as education, experience, and location, the earnings of black men are almost identical to the earnings of similar white men.
c. If employers can hire equally productive minority employees at a lower wage than non-minorities, the profit motive provides a strong incentive to do so.
d. The empirical evidence indicates that the earnings gap between whites and blacks is entirely the result of employment discrimination.
C
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If the money supply is $500 and nominal income is $4,000, the velocity of money is
A) 1/20. B) 1/8. C) 8. D) 20.
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and net nonreserve international borrowing/lending balance in the context of the Three-Sector-Model? a. The real risk-free interest rate rises and
net nonreserve international borrowing/lending balance becomes more positive (or less negative). b. The real risk-free interest rate falls and net nonreserve international borrowing/lending balance becomes more negative (or less positive). c. The real risk-free interest rate rises and net nonreserve international borrowing/lending balance becomes more negative (or less positive). d. The real risk-free interest rate and net nonreserve international borrowing/lending balance remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.