Suppose That the World Price of Sugar Is $100 Per

question 75

Multiple Choice

Suppose that the world price of sugar is $100 per ton. If a small country gives its sugar exporters a subsidy of $50 per ton, then its domestic price of sugar will:

• A) fall by $50 per ton.
• B) rise by $50 per ton.
• C) remain unchanged at $100 per ton.
• D) first fall to $50 per ton, then rise to $100 per ton.

Discuss the effects of discrimination and societal prejudices on wage disparities.

Review empirical evidence on contributors to wage differences including ability, effort, and chance.

Understand the role and impact of minimum wage laws on labor demand.

Recognize the influence of unions and collective bargaining on wage rates.

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