From 1980 to 2012, the Female-Male Wage Ratio in the United

question 12

Multiple Choice

From 1980 to 2012, the female-male wage ratio in the United States

• A) held constant at about 0.7.
• B) fell steadily from about 1.0 in 1980 to 0.5 in 2012.
• C) increased modestly from 0.5 in 1980 to almost 0.6 in 2012.
• D) increased substantially from 0.6 in 1980 to almost 0.8 in 2012.
• E) increased substantially from 0.4 in 1980 to just under 0.7 in 2012.

---

Definitions:

Natural Monopoly

A market in which a single firm can provide a good or service at a lower cost than any potential competitor, due to economies of scale.

Lower Cost

A situation where the expenses involved in producing a good or service are reduced, leading to potential savings.

Social Regulation

Rules imposed by government aimed at improving societal welfare, focusing on areas such as health, safety, and the environment, rather than on economic matters.

Natural Monopoly

A market structure where a single firm can produce at a lower cost than can two or more firms, justifying limited competition.