In What Way Do Competitive Markets Have a "Natural Remedy

question 91

Multiple Choice

In what way do competitive markets have a "natural remedy" for discriminatory hiring practices?

• A)Federal and state governments naturally step in to resolve problems of discrimination.
• B)Profit-maximizing firms that do not discriminate tend to replace firms that discriminate.
• C)Wages paid to groups that are victimized by discrimination are eventually bid up to above-equilibrium levels.
• D)Discrimination is usually the outcome of rational decision-making processes, and competitive markets produce rational outcomes.

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Definitions:

Medium of Exchange

An intermediary instrument or system used to facilitate the sale, purchase, or trade of goods between parties.

Digital Wallet

A digital system that allows individuals to make electronic transactions using a computer or smartphone, including storing various forms of currency and cards.

Public Keys

Part of a cryptographic system used in digital communication that allows users to securely exchange data over an insecure network.

Private Keys

Cryptographic keys used in public-private key encryption schemes that are kept secret and used to decrypt information or digitally sign data.