In the One-Period Competitive Model We Have Been Studying

question 35

Multiple Choice

In the one-period competitive model we have been studying

• A) both consumption and total factor productivity are exogenous.
• B) consumption is exogenous and total factor productivity is endogenous.
• C) consumption is endogenous and total factor productivity is exogenous.
• D) both consumption and total factor productivity are endogenous.

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Definitions:

Bona Fide Occupational Qualification

A work requirement that is necessary for the normal operation of a particular business or job, which may involve a certain age, sex, or religion, exempt from usual discrimination laws under specific conditions.

Legal Defence

The arguments and evidence presented in court to defend against criminal or civil charges.

Pay Equity Act

Legislation aimed at eliminating gender and other discrimination in the compensation and employment practices.

Comparable Value

A principle aimed at ensuring pay equity, asserting that jobs of equal value to the employer, in terms of skill, effort, responsibility, and working conditions, should receive equal pay, regardless of the job holder's gender.