Even If Markets Are Competitive, Discriminatory Hiring Practices Can Persist

question 138

Multiple Choice

Even if markets are competitive, discriminatory hiring practices can persist because of:

• A)payroll taxes
• B)the lower costs of hiring of workers discriminated against
• C)customer preferences
• D)minimum wages that are set below the market equilibrium wage

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Definitions:

Heuristic

A heuristic is a simple, efficient rule, whether hard-coded by evolutionary processes or learned, which helps in making decisions, forming judgments, or solving problems.

Making Risky Decisions

The process of making choices under conditions of uncertainty, where the outcomes could involve significant loss or gain.

Bets

Bets involve making a wager on the outcome of an uncertain event, with the anticipation of winning a reward.

Horse Races

Competitive sporting events in which horses, ridden by jockeys, race on a course to reach a finish line, often involving betting on outcomes.