Equal Pay for Equal Work Specifies That

question 16

Multiple Choice

Equal pay for equal work specifies that

• A) there can be no pay discrimination on the basis of race, gender, or age.
• B) male-dominated and female-dominated jobs of equal value must be paid the same.
• C) jobs with similar titles must be paid the same.
• D) all people doing the same job should receive an identical pay rate.
• E) an employer cannot pay male and female employees differently if they are performing substantially the same work.

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Definitions:

Rational Expectationists

Economists who believe that individuals make decisions based on their rational outlook, available information, and past experiences.

Monetary Policy

The process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

Say's Law

An economic principle that asserts that supply creates its own demand, meaning that production of goods and services creates an equal amount of demand for those goods and services.

Classical Economics

Laissez-faire economics. Our economy, if left free from government interference, tends toward full employment. The prevalent school of economics from about 1800 to 1930.