In statistical discrimination:
A. The average characteristics of the group are applied to individual members
B. The characteristics of individual members of a group are applied to describe the group as a whole
C. Hiring characteristics for workers are based on set government requirements
D. Workers are given preferential treatment if they help fulfill a quota for a particular type of characteristic
A. The average characteristics of the group are applied to individual members
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Macroeconomic equilibrium occurs when
A) there is no inflation. B) real GDP is equal to potential GDP. C) the aggregate quantity demanded is equal to the aggregate quantity supplied. D) the economy is fully employed. E) the price level equals the potential price level.
The figure above shows the marginal revenue and long-run cost curves for a perfectly competitive firm. Which of the following statements is TRUE?
A) The firm is producing at minimum long-run average cost. B) Over time, this firm will leave this industry. C) The firm is earning positive economic profit. D) The firm will eventually decrease its production.
The mangers of Healthy Snacks and Healthy Bars are engaged in a strategic interaction in which their interests are aligned, but there is more than one possible equilibrium. All of the following can help the managers determine the equilibrium outcome except which one?
A) an announcement by Healthy Snacks regarding their future plans, but not an announcement by Healthy Bars regarding their future plans B) the Pareto criterion C) an announcement made by either firm regarding their future plans D) a focal point
The end of racial preferences in college admissions has had no noticeable effect on minority enrollments
Indicate whether the statement is true or false