Assume That a Comparable Worth Law Is Passed That Determines

question 240

Multiple Choice

Assume that a comparable worth law is passed that determines that kindergarten teachers and bricklayers have comparable jobs; therefore, workers in both of these occupations should be paid the same wages.Assume that prior to the law, bricklayers were paid a higher wage than kindergarten teachers.Which of the following is the most likely result of the comparable worth law?

• A)The equilibrium wage will be the same for kindergarten teachers and bricklayers.
• B)Some former bricklayers will become kindergarten teachers and some former kindergarten teachers will become bricklayers.
• C)There will be a shortage in the market for bricklayers and a surplus in the market for kindergarten teachers.
• D)There will be surplus in the market for bricklayers and a shortage in the market for kindergarten teachers.

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Definitions:

Further Processing

involves additional operations on a product to enhance its value before selling.

Constrained Resource

A constrained resource refers to a limiting factor in a production or operational process, which restricts the output or throughput of the system.

Current Profitability

A measure of a company's financial performance in the present or most recent accounting period, indicating the net income earned.

Idle Capacity

Unused production capacity or resources that are not being utilized to their full potential.