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) There will be surplus in the market for bricklayers and a shortage in the market for kindergarten teachers.
B) Some former bricklayers will become kindergarten teachers and some former kindergarten teachers will become bricklayers.
C) The equilibrium wage will be the same for kindergarten teachers and bricklayers.
D) There will be a shortage in the market for bricklayers and a surplus in the market for kindergarten teachers.
Question 2
The CPI is also referred to as
A) the inflation-consumption index. B) the producer price index.
C) the cost-of-living index. D) the GDP deflator.
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