The judging of an individual on the basis of the average characteristics of the group to which the individual belongs rather than the individual's characteristics is:
A. Statistical discrimination
B. Reverse discrimination
C. Human capital discrimination
D. Wage discrimination
A. Statistical discrimination
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The introduction of computer-based technologies in the telephone industry caused
a. an increase in the supply of telephone services. b. an increase in the demand for telephone services. c. an increase in the price of telephone services. d. a decrease in the number of calls handled daily by telephone companies.
Price elasticities of supply are always
a. equal to price elasticities of demand when the market is in equilibrium b. negative c. positive d. greater than one e. less than one
If we are going to get the most value from our resources, entrepreneurs should choose the investment alternatives that
A) result in the production of the largest possible output regardless of value to consumers. B) are most heavily subsidized by the government. C) yield a profitable rate of return. D) reduce the value of resources and retard wealth accumulation.
Wealth equals:
A. assets minus liabilities. B. investment minus saving. C. current income minus spending on current needs. D. saving minus investment.