Which of the Following Statements About the Earnings Gap Between

question 88

Multiple Choice

Which of the following statements about the earnings gap between women and men is/are true?

• A) On average, women earn approximately 80% of what men earn.
• B) Over the last few decades, the earnings gap has decreased.
• C) Women earn less than men even in female-dominated jobs such as nursing.
• D) all of the above

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Definitions:

Market Power

The ability of a firm or group of firms to control prices or output in a market, often leading to reduced competition.

Economic Profits

The difference between a firm's total revenue and its total costs, including both explicit and opportunity costs.

Monopolistically Competitive

Describes a market structure in which many firms sell products that are similar but not identical, allowing for some degree of market power.

Long Run

A period in which all factors of production and costs are variable, allowing firms the flexibility to adjust all inputs.