The Figure Given Below Shows the Income-Leisure Trade Off of an Individual.Figure

question 109

Multiple Choice

The figure given below shows the income-leisure trade off of an individual.Figure 16.5
AB and AC: Income constraints of the individual
I₁, I₂, and I₃ curves show the income leisure choices of the individual.
-Which of the following statements about employer prejudice is true?

• A)It would be impossible for employer prejudice to exist in a firm that sells its output in a competitive market unless all rivals also discriminate.
• B)Economic theory tells us that it would be impossible for employer prejudice to exist in a firm that is a monopoly.
• C)Employer prejudice will help a monopolist to increase his profits by satisfying his managers personal prejudices.
• D)Legislation has ended employer prejudice in the United States.
• E)Employer prejudice occurs only in low-paying jobs.

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Definitions:

WTO

The World Trade Organization, an international body that regulates and facilitates global trade.

Tripartite Structure

A three-party framework or system commonly used in industrial relations involving negotiations or discussions between labor (employees or unions), employers, and the government.

ILO

The International Labour Organization is an agency of the United Nations that establishes global labor standards and advocates for workplace rights.

World Trade Organization

An international organization founded in 1995 designed to supervise and liberalize world trade by providing a forum for negotiations and dispute resolution.