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The Equal Pay Act of 1963 Prohibits Discrimination in Rates

question 51

Multiple Choice

The Equal Pay Act of 1963 prohibits discrimination in rates of pay on the basis of ____.


Definitions:

Average Variable Cost

The variable cost per unit of output, which includes costs that vary with production, such as materials and labor.

Economic Profit

The net outcome of subtracting all expenses, both overt and hidden, from a corporation's aggregate earnings.

Short Run

A period during which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust to changes in market demand or supply.

Quantity

The amount or number of a material or immaterial good that is considered as a unit or an aggregate.

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