Looking at Differences in Median Income to Find Evidence of Current

question 41

Multiple Choice

Looking at differences in median income to find evidence of current employment discrimination overlooks the fact that

• A)men work fewer hours per week on average.
• B)men work more hours per week on average.
• C)woman have less unearned income.
• D)men work fewer hours per week on average and woman have less unearned income.

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Definitions:

Collusion

An agreement, usually secretive, between firms to fix prices, limit supply, or divide markets to reduce competition and increase profits.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off, maximizing total social welfare.

Oligopolistic Firms

Companies operating in a market structure characterized by a small number of entities dominating the industry, often resulting in limited competition.

Collusively

Acting in a coordinated manner, often secretly, between firms to set prices or market conditions, usually to the detriment of competition.