In What Way Do Competitive Markets Have a "Natural Remedy

question 377

Multiple Choice

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

• A)Governments regulate 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:

Physicians

Healthcare professionals who diagnose and treat illnesses, injuries, and other medical conditions.

West Indies

A region in the Caribbean comprising numerous islands, known for its distinct cultures, history of colonialism, and significant role in the Atlantic slave trade.

Agricultural Corporations

Large companies involved in the production, marketing, and distribution of agricultural goods such as crops and livestock.

Backcountry Farmland

Rural areas typically found in the hinterlands of a country, known for agricultural production often characterized by less fertile soil and more challenging farming conditions compared to prime agricultural lands.